It is understood that the US market research organization Research And Markets recently released an analysis report on the “US AR/VR Market 2019-2029”.
The report pointed out that the US AR/VR market was worth US$7.48 billion in 2023 and is expected to reach US$12.4 billion by 2029, with a compound annual growth rate of 8.63%. This trend is expected to continue in the next few years.
The integration of AR and VR has broad prospects
AR and VR technologies are changing the way businesses and consumers interact with digital content, creating immersive experiences that blend the physical and virtual worlds. The agency said that driven by technological advances, growing consumer demand and widespread adoption across industries, the US AR and VR markets have experienced rapid growth and innovation.
Among them, AR enhances the environment of the real world through digital overlays, while VR provides a fully immersive virtual environment. Together, these technologies have brought revolutionary changes to industries such as gaming, healthcare, retail, manufacturing, education and real estate. In the future, driven by technological advances such as 5G, AI and machine learning, companies are increasingly aware of the value of these technologies, and investment in AR and VR solutions is expected to increase.
In recent years, driven by the concept of the metaverse, the AR/VR head-mounted device market has been booming. According to IDC data, the AR/VR market is expected to recover significantly in 2024, with shipments increasing by 46.4% year-on-year, and the CAGR of shipments from 2023 to 2027 is expected to be 37.2%.
Undoubtedly, virtual reality technologies such as VR and AR have become a hot topic and investment direction in the world. Looking at foreign countries, for the application of cutting-edge fields such as AR/VR, not only traditional manufacturers, but also technology giants and start-ups have joined the battle, and many companies have accelerated their layout to provide global users with higher standards of AR/VR immersive experience.
New details of Samsung XR glasses revealed
According to media reports, many new details of Samsung’s ( $SSNGY) upcoming XR (extended reality) glasses have attracted widespread attention in the industry. Reports show that Samsung is preparing for the launch of this smart glasses, which is scheduled to be officially released in the third quarter of 2025, and has initially set a production target of 500,000 units.
The XR glasses will be equipped with Qualcomm ( $QCOM) AR1 chipset, which is the same chip used in Ray-Ban Meta smart glasses. It is worth noting that Qualcomm has released a more advanced AR2 chip in 2022. Foreign media believe that Samsung’s choice of AR1 chipset may be based on product maturity, cost control and market demand.
WiMi seizes new opportunities in the AR/VR market
At the same time, it is understood that with the rapid development of AR technology, WiMi Hologram Cloud Inc. (NASDAQ: WIMI), the first holographic AR stock, has accumulated business capabilities in artificial intelligence (AI) wearable devices, virtual reality (VR) and augmented reality (AR) over the years, and has always stood at the forefront of user needs, deeply insightful of consumers’ higher expectations for comfort in AR glasses, AI models, etc., in order to accurately respond to these needs, actively promote comprehensive innovation in the AR/VR field.
In fact, WiMi continues to implement the development strategy of deepening the basic plate of AR business, focusing on new tracks with the potential to lead the development of the industry, with many years of technical accumulation and large-scale delivery product R&D experience. With the promotion of new AR/VR technologies, users can wear AR/VR devices to enter the intelligent social scene that spans history and the future, virtually experience the evolution of historical civilization and the future social development model, and better match the continuous iteration of high-quality solutions and services for customers’ diverse needs.
While tapping into the potential of existing customers, WiMi has made sufficient technical preparations in advance and actively explored new strategic customers, achieving sustained growth in all major businesses. In the future, WiMi will continue to increase its investment in the research and development of AR/VR products, especially in conjunction with the stabilization and recovery of the consumer electronics industry and the advent of the AI-driven industry innovation cycle, and continuously improve the company’s product market competitiveness and supply share with high-quality products and services to achieve sustainable growth in performance.
Conclusion
Keep pace with the times and gather momentum for the future. Perhaps, the future development direction of augmented reality technology is pure naked eye 3D, that is, the further integration of VR and AR with MR technology, including augmented reality and augmented virtuality, which can enable physical and digital objects to coexist and interact in real time in a new visual environment. In short, both large companies and small and medium-sized enterprises are working hard to compete in the AR/VR market and seize more market share in order to maintain their dominant position in the AR/VR market.
