Meta’s XR Dominance Wanes as Market Declines: 2023 Shipment Analysis

Extended reality technology is gaining popularity day by day, or so we thought. After Apple introduced the Vision Pro, this technology, which we hear about almost every day, is one of the most popular topics of tech word along with artificial intelligence. However, it seems that this popularity has not been reflected in sales. Because the global XR headset market saw a substantial drop in 2023.

While Counterpoint’s research doesn’t specify the decline’s root cause, there are two plausible explanations. First, the announcement of Apple’s Vision Pro headset, though released in February, may have dampened demand in 2023. Leaks about the product circulated long before its announcement, potentially leading those considering an XR investment to hold out for what they might deem a superior option.

Another, perhaps more likely, reason lies in the state of the technology itself. VR and AR have undoubtedly advanced, but they remain niche and expensive for widespread, everyday use beyond a few standout games and applications. Many headset owners may find their devices collecting dust shortly after the initial novelty wears off. Potential buyers might then hesitate at the prospect of these sizable price tags.

Of course, we’ll need to wait for 2024’s results to draw definitive conclusions, and considering the first quarter is nearly over, this insight may arrive sooner than later. Counterpoint’s report also illustrates a challenge for Meta, the current industry leader. In 2023, the company captured 59% of total global XR headset shipments, a decrease from the 77% share in 2022. While PS VR2 certainly contributes to this, such a significant drop could hint at potential struggles for the company.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Khazanah Nasional Bhd records higher profit in FY2023 amid volatile global market conditionsKhazanah Nasional Bhd recorded a higher profit from operations of RM5.9 billion in financial year 2023 (FY2023) compared with RM1.6 billion in FY2022 amid volatile global market conditions. Managing director Datuk Amirul Fiesal Wan Zahir said its stronger performance was driven by higher dividends and distributions from investee companies, fair value gains, and capital preservation.
Source: malaymail - 🏆 1. / 86 Read more »

Govt urged to crack down on black market for medicinesMUNICH, Germany (Reuters) -Harry Kane scored a hat-trick in Bayern Munich's 8-1 demolition of Mainz 05 on Saturday to set a Bundesliga record as the champions cut the gap on leaders Bayer Leverkusen to seven points.
Source: staronline - 🏆 4. / 75 Read more »

China must do more to lift employment, stabilise housing market, say officialsBEIJING, March 9 — China needs to do more to boost employment and stabilise its property market, top officials acknowledged today, as policymakers struggle to revive the...
Source: malaymail - 🏆 1. / 86 Read more »

PLS Plantations, Guangzhou Jiangnan to set up regional wholesale market in JohorPETALING JAYA: PLS Plantations Bhd has entered into a memorandum of business exploration with China-based Guangzhou Jiangnan Agriculture Development Co Ltd to build a regional one-stop wholesale market in Johor for the processing and marketing of Malaysian agricultural produce.
Source: DailyExpress_MY - 🏆 3. / 83 Read more »

Doctor opens stall selling M’sian kuih at Liverpool marketDr Syikin charges her customers £1 (RM6) for one piece of kuih.
Source: theSundaily - 🏆 25. / 51 Read more »

Property market set to stabilise this yearThe Malaysian property market is expected to stabilise in 2024 despite economic uncertainties, with certain areas and submarkets positioned for more robust growth.
Source: DailyExpress_MY - 🏆 3. / 83 Read more »