A new report from the market research firm TrendForce sheds light on the current state of the VR/MR headset industry. As per the report, Meta retains its crown by securing 73% of the VR/MR headset market share in 2024.
Much credit goes to the company's strategy of selling cheaper headsets over premium ones. Meta delayed its plans to launch Quest Pro 2 and released the Quest 3S, priced at $299. The affordable headset was responsible for an 11% year-over-year increase in shipments.
Meanwhile, Sony's PS VR2 grabbed the second highest market share of 9%, and the remaining 13% goes to other players in the industry. The global VR/MR headset shipment is expected to reach 9.6 million units in 2024, an 8.8% increase year-over-year.
As per the report, three trends are shaping the global VR/MR ecosystem. These include the dominance of low-cost headsets on the market, a shift from entertainment accessories to productivity tools, and using OLEDoS (OLED on Silicon) as the preferred display technology for premium headsets.
Apple Vision Pro is the first headset in the industry to feature the OLEDoS display technology. The $3,499 spatial computing headset went on sale earlier this year and scored a 5% market share in 2024. However, it's worth noting that Vision Pro costs more than 10 times Meta's Quest 3S.
A teardown from the past revealed that Vision Pro is a complex headset with gigantic Lightning ports that are bigger than the world has ever seen. Despite its premium price tag, the headset has become a trendsetter, pushing VR/MR devices from "consumer-oriented entertainment toward a broader role as multi-functional productivity tools."
In addition to immersive content, Vision Pro offers various advanced applications, including document editing, virtual meetings, healthcare, and education. "This paradigm shift is expected to encourage other brands to reevaluate the functional attributes of their own VR/MR devices, expanding their role in both consumer and enterprise markets," the report said.
According to the report, Apple is expected to bring its next-gen VR/MR devices "as early as 2026," which contradicts a recent claim from analyst Ming-Chi Kuo. A two-way strategy will simultaneously target the premium market and the mainstream segment with an affordable headset.
It was reported that only ten new apps made it to the Vision Pro App Store in September this year, suggesting developers may have lost interest due to the high price tag.
TrendForce expects Apple to continue using OLEDoS technology with a resolution exceeding 3000ppi for its premium headset. However, it might look for names other than Sony and knock on the doors of Chinese suppliers to source cheaper components and reduce production costs.
On the other hand, the Cupertino giant will focus on cost-efficiency and affordability for its mainstream model, targeting price-sensitive customers. It might choose from alternative display options such as glass-based OLED displays and LCDs with LTPO backplane technology.
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