Despite the expectation generated by the launch of Apple’s Vision Pro, the global virtual reality (VR) glasses market continues to face a drop in its figures. In the first months of this year, the industry recorded a 4% decline, while in the third quarter the drop reached 16%.
This setback marks the third consecutive quarter of losses, a blow to an industry that is still failing to balance device supply with public expectations.
While Vision Pro briefly boosted shipments, it was not enough to prevent the VR market from continuing its decline. According to Counterpoint, most of the decline came from connected VR devices, which saw a 50% year-over-year drop. In contrast, standalone devices, which do not require connection to a console or computer, saw modest growth of 14%, representing a small glimmer of hope in a market still looking to consolidate.
Apple Makes Progress, But Meta Continues to Dominate
Apple has gained ground with the Vision Pro, but is still far from unseating Meta, which continues to dominate the VR market with a 65% share. Despite this, Meta experienced a drop in sales, especially of the Quest 3, as many consumers await a more affordable version, the Quest 3S.
Meanwhile, the Vision Pro doubled its shipments quarter over quarter thanks to its international expansion in key markets such as China, Europe and Asia Pacific, reaching a 9% market share. However, this growth is expected to be temporary, with a decline projected for Q4 2024, when the initial enthusiasm will fade.
Meanwhile, Pico suffered a small 2% year-on-year decline and finished with an 11% market share, while Sony reached 8% at the close of Q3.
Smart Glasses (Virtual Augmented Reality): A New Frontier in Growth
Despite the stagnation in the Virtual Reality market, complementary technologies such as augmented reality (AR) and artificial intelligence (AI) are opening up new opportunities. Devices such as Meta’s AR Orion and Snap’s AR 24 show how the industry is looking to blend advanced functionality with affordable design, which could lead to a promising future for AR entertainment and applications.
The market for smart glasses, which integrate AR and AI, is rapidly gaining ground and is expected to become one of the most dynamic segments in the industry. Companies such as Rokid and INMO have launched products with advanced language models, and more manufacturers are expected to join this trend.
In addition, the arrival of the Android XR operating system could further boost this market, creating new possibilities for the development of more accessible and affordable devices.
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