VR and AR Headset Market Poised for Dramatic Growth with Smart Glasses and AI Innovations, IDC Predicts

The market for VR and AR headsets is predicted to skyrocket, with smart glasses and AI functionalities enhancing the industry, according to specialists. Research company IDC anticipates that VR and AR headset manufacturers will distribute triple the amount of devices in 2028 in comparison to the current year.

THE SIGNIFICANCE

Global deliveries of AR and VR headsets experienced a 28.1 per cent drop annually, landing at 1.1 million units in the second quarter. The decline was attributed to high prices and an underperforming economy, leading consumers to cut back on spending, according to IDC.

According to IDC, the market is projected to grow from the current estimate of 6.7 million units to 22.9 million by the year 2028.

MAIN HIGHLIGHTS

"The unique aspect this time is the incorporation of AI, coupled with sleeker and lighter models targeting the consumers."

BACKGROUND

Meta Platforms, the parent company of Facebook, released its Virtual Reality headsets known as "smart glasses" in October of the previous year. These were co-produced with EssilorLuxottica's Ray-Ban. In July, the company announced that the recent model had exceeded their sales expectations.

According to reports from Bloomberg News, Meta is anticipated to release a less expensive model of its Quest 3, which will be named Quest 3S.