AR/VR headset market to reach 14 million units with Metaverse this year

AR/VR headset shipments are projected to reach 14.19 million units in 2022 from 9.86 million units last year on the back of the metaverse buzz.

According to research, the 36% projected growth can be attributed to the price drop of Meta’s Oculus Quest 2 and an increase in remote interactivity due to the pandemic. Microsoft HoloLens 2 and Oculus Quest 2 are expected to account for the larger share of VR/AR headsets market.

The momentum is expected to continue with a projected sales of 18.8 million AR/VR devices in 2023. The growth momentum will come from increased demand for remote interactivity stemming from the pandemic, as well as Meta Oculus Quest 2's price reduction strategy.

The report expected Oculus to launch an advanced version of the Quest product within two years, reaching a hardware performance equivalent of $700 or down to a retail price of $500 with discounts.

Global market research firm Trendforce, said, “The topic of the Metaverse has driven brands to actively plan for and stimulate product shipment performance. However, the AR/VR device market has yet to experience explosive growth due to two factors: component shortages and the difficulty of developing new technologies.”