Amid the strong buzz on metaverse, the augmented reality/virtual reality (AR-VR) headset market in the Asia-Pacific region is likely to grow at a compounded growth rate of 51 per cent in the next five years, a new report showed on Monday.
In 2021, the Asia Pacific AR/VR market for headsets Grew by 60 per cent, with shipments reaching 2.19 million units, according to the IDC.
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“With vendors pushing consumer-specific models and more quality content such as AAA games or assistant applications, consumer shipments should continue to grow in the long term," said Yexi Liao, market analyst for AR/VR and gaming research.
In the commercial sector, demand for education and training use cases will continue to lead the way, “but more segments will start to explore AR/VR headsets as an option to help increase work efficiency, not to mention piggyback on the recent hype around the metaverse", Liao added.
AR/VR shipments are expected to continue to grow at a healthy rate as contents become more enriched under the influence of new vendors/developers and more options of AR/VR headsets become available to the market.
“While the Asia/Pacific region benefited from Meta’s Quest 2, the bigger push was from brands such as DPVR, Pico, iQiyi, Nolo, etc," said Liao.
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Chinese brands contributed more than 60 per cent of AR/VR headsets in the Asia Pacific region in 2021.
Meta recorded the largest growth (year-on-year) among the top 5 vendors at 276.2 per cent.
This is largely due to the Quest 2 that continued to ramp up throughout 2021 with high demand in mature markets such as Australia, Japan, South Korea, and Taiwan, the report showed.
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HTC grew by 70.0 per cent YoY and enjoyed substantial growth in 2021 thanks to its new models, the Vive Focus 3 and Vive Pro 2, which shipped at high volumes in the PRC market.
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