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Global XR Headset Market Declined in Q1 2023 With No New Quest Model

Global XR headset shipments (covering AR and VR headsets) declined 33% YoY in Q1 2023.
Consumers are losing interest in the XR market, as market leader Meta’s Quest series has not been refreshed in over two years.
Quest series has cumulatively shipped more than 20 million units as of Q1 2023, with the Quest 2 contributing 18 million units.
The newly released PSVR2 garnered significant attention from the video-gaming brand’s user base, leading Sony to capture the second position in Q1 2023.
2023 is the year of next-generation VR headset launches. The PSVR2, E4 and Vive XR Elite are some of the prominent launches so far. And then, of course, Apple has announced its Vision Pro.

London, San Diego, New Delhi, Beijing, Buenos Aires, Seoul, Hong Kong – July 5, 2023

Global extended reality (XR)headset shipments (covering augmented reality (AR) and virtual reality (VR) headsets) declined 33% YoY in Q1 2023, according toCounterpoint Research’sXR Model Tracker. Consumers are losing interest in the XR market, as Meta’s Quest series, the market leader, has not been refreshed in over two years. The performance of the newly launched next-generation Sony PSVR2 (PlayStation VR2), along with the price reduction of the Quest 2 by Meta, saved the global market from a more drastic decline.

Meta was the best-selling global XR headset brand during Q1 2023 with the Quest 2 as its long-time best-performing VR headset. The Quest series has cumulatively shipped more than 20 million units as of Q1 2023, with the Quest 2 contributing 18 million units. The Quest 2 continues to sell relatively well and to maintain its momentum, Meta is making the headset more affordable by lowering its price after last year’s price increases. Besides,Meta has announced the launch of Quest 3 later this year, which is expected to further boost sales and transition from the success of Quest 2.

Nevertheless, Meta’s shipment share fell to 49% in Q1 2023, the lowest since the launch of Quest 2 in Q4 2020. This decline was a result of the highly anticipated launch of Sony’s successor to its 2016 headset PSVR. The newly released PSVR2 garnered significant attention from the video-gaming brand’s user base, leading Sony to capture the second position in Q1 2023 with a 32% market share. Besides, the PSVR2 shipped 1.2 times more units than its predecessor in the first quarter of its launch.

Pico and DPVRtook third and fourth places with market shares of 7% and 6% respectively. While Pico’s performance had earlier improved after its acquisition by TikTok’s parent company ByteDance, a lack of attractive consumer use cases and limited high-quality content resulted in a 38% decline in its shipments in Q1 2023.

DPVR’s shipment volumes are primarily driven by its enterprise partners, with whom it has established strong relationships. These partners regularly place orders for several thousand units. However, delays in orders from education sector partners led to a 40% decline in DPVR’s shipments in Q1 2023.

2023 is the year of next-generation VR headset launches.Sony’s PSVR2, DPVR’s E4 and HTC’s Vive XR Elite are some of the prominent launches so far this year. Having advanced technology and features, these headsets are retailing at around or over $500, which will likely negatively impact their sales potential. It will also depend on how much value consumers perceive these VR headsets are delivering.

And then, of course,Apple has announced its Vision Pro, which has set a new high bar for consumer XR devices, though at a price above most people’s reach. Apple will nevertheless cast a shadow over the market ahead of the Vision Pro’s actual release.

Background:

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Analyst Contacts:

Karn Chauhan

Peter Richardson

Harmeet Singh Walia

Follow Counterpoint Research
press(at)www.arena-ruc.com

Apple Thinking About the Next Decade & Beyond with Vision Pro Announcement

Apple announced Vision Pro at the June 5 WWDC with a launch price of $3,499.
It will be released early next year starting with the US, the biggest XR headset market with over 70% share in 2022.
Featuring advanced specs and a sleek design, it has enterprise, gaming, content and connectivity use cases.
However, with a price of12 times that of an entry-level Quest headset, it is unlikely to ship over half a million units in its first year.

Apple made its long-anticipated foray into the extended reality (XR) market with the announcement of a $3,499 headset, Vision Pro, at this year’s WWDC on June 5. While Apple is calling it an augmented reality (AR) headset, it is effectively a mixed reality headset based on video pass-through, although done better than anyone else. This is an important step forward for the technology which may eventually replace smartphones, personal computers and televisions.

Apple’s short-term and long-term prospects

有如此高的期望,苹果的股票an all-time high before the announcement but fell during the keynote address. This shift in investor stance reflects the challenges that complicate this opportunity.

Apple has also not jumped on to the AI bandwagon so far as it is not its core strength but may yield dividends in the nearer term, thus influencing investor perception of the stock’s attractiveness.

Given primarily the hefty price tag, which is 12 times that of an entry-level Quest headset, the first iteration of the headset is unlikely to sell more than half a million units in the first year of availability. Investors’ reaction also reflects this. Apple’s concern, however, is not the day’s stock movement but the next decade and beyond of technological evolution – about a post-smartphone future and how to secure it.

WATCH:Apple Vision Pro Mixed Reality Headset: Quick Look at Key Features

Cutting-edge technology and Apple premium explain the price tag

In order to secure this long-term future, after eight years of work and 5,000 patents, Apple has announced what it describes as “the most advanced personal electronics device ever”. It features Apple’s powerful M2 processor with its custom R1 co-processor that helps manage the computational load from multiple cameras and other sensors in the spatial computing device.

Its two microOLED displays offer an unrivalled viewing experience with more than a 4K-per-eye resolution. So far, only tethered VR devices by Czech-based VRGineers and China-based Pimax have offered headsets with 4K display but in LCD.

The Vision Pro also takes the industry forward with an immersive audio experience enabled by two amplified drivers in audio pods next to each ear.

In demos, Apple employees scanned reviewers’ ears and their surroundings to calibrate spatial audio, besides scanning their faces for Face ID.

设备采用先进的扫描个性化the experience. Facial scanning is done to create a representation of the user’s face. This is used in, for example, virtual conferencing. Eye movements and facial expressions are rendered faithfully. The device also scans the environment to optimize the audio settings to deliver accurate spatial audio.

With an external battery pack, Vision Pro is just shy of being completely self-sufficient

The headset does not come with controllers as it uses advanced eye, voice and gesture tracking through 12 cameras, 6 microphones and 5 sensors.

An external battery pack, however, prevents the device from being completely standalone despite featuring multiple integrated chipsets which enable autonomous computing. A two-hour battery life, then, is disappointing.

Developer kits and six months to create apps for wide-ranging use cases

The gestation period of six months before the headset is available for purchase in early 2024 in the US will enable developers to build, iterate and test apps on the headset. They carry a heavy weight of expectations to update existing apps for the spatial environment and to create killer new apps offering use cases for both consumers as well as enterprises on Apple’s all-new VisionOS platform.

Scale and size to allow Apple to forge partnerships critical for the technology’s success

The partnerships, such as those Apple has struck with Disney, Unity and Zeiss, are also key to ensuring the success of Vision Pro, and indeed the technology in general, especially in the early days when buyers may need every push to try out a technology with which few are familiar.

Meta has tried this for its enterprise-grade headset, the 2022-launched Quest Pro, with indeterminate although likely unremarkable outcomes. Apple’s advantage lies in its ability to entice a whole host of firms, including Hollywood studios, to create custom content for its headset.

Concerns and challenges that may obstruct Apple’s path to spatial success

Vision Pro is clearly only an early step in what is going to be a long journey before face-worn computers become mainstream. There are several obstacles that obstruct this path and will need to be overcome to realize such a future.

Form factor

While Apple’s ski goggle-like design is sleek and attractive, widespread acceptance can be attained by compressing similar compute in a compact eye-worn glass-like design.

Weight

The headset offloads some of its weight to an external battery pack but is still described by reviewers as being hefty. For a headset to become mainstream, it will need to be lightweight enough to be comfortably worn for extended periods.

Battery

Eventually, the battery needs to be integrated with the main headset while concurrently reducing its weight. Besides, the battery life will also need to be increased to at least 8-10 hours before headsets can come close to becoming integral parts of our daily lives.

隐私

In this regard, Apple has already taken steps to allay concerns by ensuring that consumer data is protected, and in some cases, not even accessible to Apple. With its current headset looking clearly like a tech device and unlikely to be used for extended periods in public, Apple has also dodged one of the bullets that killed Google Glasses – the fear of headset users breaching the privacy of unsuspecting passersby. However, as Apple’s headset becomes sleeker, these concerns will have to be addressed.

Apple’s success will be the industry’s gain

Regardless of these challenges, Apple’s long-awaited entry into the segment has already generated an upswing in consumer interest towards XR hardware that perhaps even Facebook’s name change to Meta did not. This interest is likely to translate into increased sales of headsets of all types. For those unable to afford Apple’s prices, or unwilling to wait long enough for it to become available for sale (especially outside of the US), rival headsets will be good alternatives to try out the tech.

So, even if the launch of what Apple described as “the most advanced personal electronics device ever” may not be an iPhone moment, it is a positive step and will take the industry forward.

Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.

Quest 3 to Help Maintain Meta’s XR Dominance Even as Apple Entry Looms

Meta announced the launch of the Quest 3 headset on June 1. To be retailed at just under $500, it will be released in autumn.The Quest 3 will have both VR and MR capabilities.
The Quest 2 has also received a $100 price cut, with the entry-level variant available at $299 starting June 4.
Together with its newly discounted predecessor, the Quest 3 is expected to help the company maintain market dominance for now.
Meta’s announcement came days ahead of WWDC, where Apple will reportedly announce its own MR headset.

London, San Diego, New Delhi, Beijing, Buenos Aires, Seoul, Hong Kong – June 5, 2023

The announcement of Meta’s Quest 3 headset at $499.99 and the Quest 2’s $100 price cut to $299 just before the rumoured launch of Apple’s first mixed reality (MR) headset shows the social media parent’s determination to lead the extended reality (XR) headset market.

Meta described the Quest 3, which will have both VR and MR capabilities, as its “most powerful headset yet”. The announcement of a successor tothe best-selling XR model in historyafter three years of no consumer-grade headset launches by Meta is an important step forward for the company as well as for the industry.

In line with the season’s flavour, mixed reality, the Quest 3 features the next generation of Qualcomm’s Snapdragon chipset and yet to be disclosed but likely superior display resolution, memory, battery life and weight.

The Quest 3’s launch in autumn, together with the price cut of the Quest 2, will be enough to maintain Meta’s market dominance in terms of shipments for the foreseeable future.

Apple’s expected announcement of a $3,000 MR headset during this year’s Worldwide Developers Conference (WWDC) on June 5 will create the biggest challenge to Meta since its entry into the segment through the acquisition of Oculus VR in 2014. If Apple succeeds in bringing the cost down and gaining a foothold in the market through successive iterations of the $3,000 headset, it may supplant Meta as the biggest revenue generator in the market which Meta has dominated thus far both in terms of revenue and shipments.

Background

Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.

Analyst Contacts

Harmeet Singh Walia

Peter Richardson

Karn Chauhan

Follow Counterpoint Research

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More Than 1 Million XR Headsets Shipped in China in 2022, Pico Number 1

XR shipments crossed 1.1 million units in China in 2022.
VR remains the dominant segment, contributing more than 95% to overall shipments in 2022.
Pico is the number one brand with a shipment share of 43%, followed by DPVR at 36%.
iQIYI, HTC and NOLO, each captured a single-digit share.

London, San Diego, New Delhi, Beijing, Buenos Aires, Seoul, Hong Kong – March 15, 2023

Extended Reality [XR: Augmented Reality (AR) and Virtual Reality (VR) headsets] shipments crossed 1.1 million units in China in 2022 according toCounterpoint Research’s XR Model Tracker. VR remains the dominant segment within XR, contributing more than 95% to overall shipments in 2022. The Chinese market has considerable untapped potential but is growing slowly because available headsets do not offer enough value in the consumer domain for mass consumption.

While the consumer segment did not see a major shift, volume growth was produced by enterprise deals, mostly in the education and training sectors. The potential for further volume growth is limited in the enterprise segment which remains niche as the currently available headsets are not yet advanced enough to offer enticing use cases. So, brands have started to focus more on the consumer segment, particularly gaming. However, Chinese brands are offering few and mostly simpleVRgames. Brands must develop high-quality games to increase consumer traction.

Pico is the number one brand in China’s XR market with a shipment share of 43% in 2022, followed by DPVR at 36%. iQIYI, HTC and NOLO, each of which captured a single-digit share, also made it to the top five.

Pico, since its acquisition by TikTok’s parent, ByteDance, has gained greater global as well as local prominence. The additional financial, human and soft resources that ByteDance is pouring into Pico helped it to become a major player. Since the acquisition, Pico’s strategy has been to establish itself as a major player in the consumer XR segment. For this, it has priced its recent Pico 4 headset at close to $400, similar toMeta’s Quest 2.

DPVR shipped the next highest number of XR headsets in China and is the biggest player in the enterprise segment. Existing partnerships and growing regional prominence will ensure a healthy growth rate for DPVR, but it has a limited opportunity for volume growth in the enterprise segment. It is therefore betting big on its E4 gaming headset.

iQIYI, with a focus on VR content and streaming, took the third spot on the list while HTC’s volumes continued to be driven by Vive Flow. However, HTC is facing difficulty to sell its headsets owing to their high price points. NOLO also made it to the top five list thanks to its consumer-grade headsets targeted at gamers.

China’s market has a large base of home-grown content producers who benefit from a largely common language. We expect these players to increasingly invest in content for VR leading to a virtuous circle of increasingly capable hardware supported by content from multiple producers. The adoption of XR in sectors ranging from education and healthcare to industrial and supply chains will also enable more holistic growth represented by both the consumer and enterprise segments.

China is also expected to benefit from the early adoption of 5G since telecom operators see VR content as a driver of data consumption.

Background:

Analyst Contacts:

Karn Chauhan

Follow Counterpoint Research
press(at)www.arena-ruc.com

Meta's New Quest Pro: More Attractive to Enterprises Than Gamers

Meta announced its Meta Quest Pro mixed reality headset at a price of $1,500
This was around double the price of market expectations pre-announcement
Because of this, it could be a hard sell to Quest 2 upgraders and new consumers alike
To justify pricing, the Pro packs more features, better components and is sleeker
The display is upgraded, but we’re expecting better ones from Apple and Sony next year
Recent partnerships with Microsoft, Zoom and Accenture signal enterprise expansion, where pricing may be less of a concern

London, New Delhi, Hong Kong, Seoul, Beijing, San Diego, Buenos Aires – October 12, 2022

As expected, Meta launched Meta Quest Pro at Meta Connect 2022. It will be available from October 25, however the Quest Pro’s $1499 price tag is significantly higher than the $700-$800 price band which was expected before the launch event.

Given one of the major catalysts of Quest 2’s success was its low price which complemented respectable if not impressive features, and content, the $1,500 price of Quest Pro will be a hard sell to Meta’s many previous customers, many of whom may continue to prefer Quest 2.

With these users having spent $1.5 billion on games and apps alone on the Quest Store, Meta certainly hopes to attract some of them to the Quest Pro too. This can be seen, for instance, through Meta working with Microsoft to bring xCloud gaming to the Quest Pro.

Commenting on the features Meta offers with increased ASP,Senior Analyst Harmeet Singh Waliasaid, “To justify the steep price, the Quest Pro packs more features as well as a sleeker design than Quest 2 (its optic stack is 40% slimmer). It has 10 advanced VR/MR sensors, spatial audio, pancake lenses, 256GB storage, 12GB RAM, and a new Snapdragon XR2+ processor. The Meta Quest Touch Pro controllers that accompany it have three cameras and Snapdragon 662 mobile processors. It also has a better display than the Quest 2’s, although, LCD displays (even if with 37% more PPI and 75% more contrast than Quest 2) may not signal value for money to users who will likely find superior displays in Apple’s upcoming MR device or Sony’s much cheaper PlayStation VR2.

This may not matter too much because given its recent partnerships with Microsoft, Zoom and Accenture, Meta has taken a definite direction towards gaining more traction with enterprise users. It hopes to combine its hardware and software with Microsoft’s technology (bringing Teams to Quest Horizon workrooms for Teams) to help bring VR to business and industry with Accenture, which has deep connections with Fortune 500 companies. Also having already bought 60,000 Quest 2 devices for its workforce which stands at a total of 700,000, the potential of its own and direct contribution to Quest sales is significant.”

Vice President of Research Peter Richardsonadded, “With Quest Pro, Meta has also taken a step into MR and closer to AR which it hopes to develop further after having introduced so-called smart glasses in partnership with Ray-Ban last year.

Quest Pro is significant then, because it signals Meta understands that the real value add in the XR market is likely found in the enterprise for now, rather than consumer users.”

Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.

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Analyst Contacts

Harmeet Singh Walia

Karn Chauhan

Peter Richardson

Follow Counterpoint Research

Meta Quest 2 First VR Headset to Cross 10 mn Shipments

元任务2(以前眼睛任务2)cumulatively shipped more than 10 million headsets by the end of 2021, according toCounterpoint Research’s XR (AR & VR headsets) Model Tracker. The US contributed 70% to Quest 2’s shipments followed by Europe with roughly 20%. As a popular tech gift for children and grandparents, half of its shipments occurred during theholiday season in the last quarter of 2020 and 2021. Meta succeeded by offering great hardware at a reasonable and competitive price starting at $299. It also focused on offering continuous improvements through monthly software updates.

We believe Meta’s next major Quest device since 2020 will be launched in 2023. It makes sense, as currently there is no significant hardware advancement in VR headsets for the affordable segment. Also, the consumer is holding on to VR devices longer.

While Quest 2’s cumulative shipments are 1.5 times higher than its next biggest competitor,Sony PSVR,it will face more competition from the highly anticipated PSVR 2, as well as the devices that DPVR and Pico launch in 2022. We saw an increase in DPVR’s presence in overseas markets in 2021 and it will continue to expand in 2022. Since acquiringPico, ByteDance, the parent of TikTok, is pouring a lot of resources to strengthen the Pico brand with an increased focus on content as well as through faster staff hiring, superior consumer VR hardware and competitive pricing.

We estimate that Metawill ship nearly 12 million VR headsets in 2022, including the upcoming Project Cambria product, which will be launched later in 2022 to showcase Meta’s potential capabilities. However, more than 80% of the volume will be driven by Quest 2, which will be available throughout the year at a price point that has proven to be a sweet spot for VR headsets.

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Apple Thinking About the Next Decade & Beyond with Vision Pro Announcement

Apple’s short-term and long-term prospects

WATCH:Apple Vision Pro Mixed Reality Headset: Quick Look at Key Features

Cutting-edge technology and Apple premium explain the price tag

With an external battery pack, Vision Pro is just shy of being completely self-sufficient

Developer kits and six months to create apps for wide-ranging use cases

Scale and size to allow Apple to forge partnerships critical for the technology’s success