The AR (Augmented Reality) and VR (Virtual Reality) chips market was valued as US$ 2.5 Bn in 2020, owing to the increasing demand for AR and VR chips in gaming vertical. The adoption of AR and VR chips Market is growing due to an increase in the usage of mobile-based headsets, which are feasible and can be used without any cables attached to the PC. Due to feasibility and mobility features, there is increase in demand of mobile based augmented reality and virtual reality applications and solutions than that of tethered devices which are connected to laptops or other electronic devices. Thus the increasing penetration of smartphones and other devices compatible with smartphones is increasing rapidly, which is further contributing positively towards the growth of market. Owing to such features the market is anticipated to grow at a CAGR 15% during the forecast period 2021-2031. Request A Brochure- https://www.transparencymarketresearch.com/sample/sample.php? flag=B&rep_id=82373 What is Driving Demand for AR & VR Chips? With the increasing use of AR & VR in the healthcare industry, market players are increasingly launching innovative products with novel features, thereby improving the performance of existing products. Improved performance increases the utility of the product, as well as captivates newer customers towards it. Thus increasing usage of AR and VR technology in healthcare sector, is fueling the demand of AR/VR chips globally. For instance, in 2019, UAE’s MoHAP (Ministry of Health and Prevention), announced plans to introduce VR rehabilitation in physiotherapy for patients suffering from balance disorder, stroke patients, and children with cerebral palsy, developmental disorders, and Parkinson's syndrome. Gaming Vertical is expected to Drive the AR and VR Chips Sales An increase in the awareness levels of AR VR technology among people, especially the young age group, due to the recent adoption of VR technology in several sectors such as media & entertainment for gaming platforms, live streaming and virtual tourism, and in educational institutes for better learning, is a factor resulting in the significant demand for AR and VR devices for enhanced customer experience. With the continuous ongoing advancements in the AR & VR industry, various new AR/VR gaming devices have been developed, which has drastically changed the scenario. Thus the gaming vertical is anticipated to contribute the largest share and remain dominant during the forecast period. Request for Analysis of COVID-19 Impact on AR & VR Chips Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=82373 U.S. AR and VR Chips Market Outlook Rapid advancements in the ICT industry create a strong growth potential for the healthcare industry. As technologies continue to advance, the integration of ICT technology in healthcare will lead to the development of more efficient and productive augmented technology equipment. As a result, the integration of advanced technologies such as connected devices, cloud and integrated machine learning in VR headset, VR platforms, AR helmets, smart glasses, and other AR & VR devices creates strong growth opportunities for the AR and VR chips sales.
Increasing AR/VR Chips Sales in South Asia & Pacific Consumer electronics products such as laptops, smartphones and other smart devices are continuously being upgraded and thus increase in penetration of AR/VR chips in consumer electronic products is fueled by a highly competitive consumer electronics market, in the South Asia & Pacific region. Major players such as Apple, Samsung, Sony, Google and others are following trend of integrating advanced augmented technologies in their products. Thus upgradations in gaming consoles and smart devices in countries such as Australia, India and New Zealand is anticipated to drive demand of AR/VR chips in South Asia and Pacific countries. PreBook Our Premium Research Report at – https://www.transparencymarketresearch.com/checkout.php?rep_id=82373&ltype=S Who are Key AR and VR Chips Manufacturers? Some of the leading manufacturers of AR & VR chips include Mediatek Inc., NVIDIA Corporation, Qualcomm Technologies Inc., Advanced Microdevices Inc, Imagination Technologies Limited, Intel Corporation, Huawei Technologies Co. Ltd., Spectra 7, IBM Corporation, Samsung Electronics Co. Ltd, among others. More Trending Reports by Transparency Market Research: Extended Reality [XR] Market : extended reality (XR) market is broadly impacted by several factors, including increasing investment in artificial intelligence and advance technologies across the globe. Thus, expanding adoption of virtual reality, augmented reality, and mixed reality by different industries is propelling the global extended reality (XR) market About Us Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. Contact Transparency Market Research, 90 Sate Street, Suite 700, Albany, NY 12207 Tel: +1-518-618-1030 USA – Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com Website: https://www.transparencymarketresearch.com/