IDC has released new quarterly tracking data, predicting that the industry will grow from 6.7 million units in 2024 to 22.9 million units in 2028, at a compound annual growth rate (CAGR) of 36.3%.

The market will soar to 41.4% in 2025 due to new technologies and more affordable devices, and thanks to the convergence of AR and VR, MR devices are expected to take the lead, with more than 70% of the market share in 2028.

MR devices are expected to take the lead

IDC says MR headsets have made a leap in fidelity in recent quarters, based on the launch of Quest 3 and Vision Pro. Meta is expected to launch a more affordable version, which will help the market resume growth in the coming year.

In addition, extended reality heads are expected to grow due to the addition of AI and consumer-friendly designs. Many new startups and next-generation products from prominent brands are targeting the ‘smart glasses’ space, adding AI, while adopting thinner designs to cater to consumers.

IDC believes that AR devices are also expected to drive growth, and existing well-known AR products such as HoloLens are expected to give way to MR devices in the future, as the new headset can meet some use cases and be more affordable.

Several companies have released new products

In fact, the recent AR and VR market news continues. Snap (SNAP) recently held the 2024 Snap Global Partnership Summit. This year, in addition to its social platform SnapChat and AR filter creation platform Lens Studio, the new generation of Spectacles AR glasses is being unveiled.

The new Spectacles’ 24 glasses feature waveguide LCoS optics, four tracking cameras, and support a Snap space engine for seamless gesture tracking. With Snap’s new Spectacles Interactive Toolkit (Spectacles Interaction Kit), developers can easily build apps without developing their own interactive systems from zero.

In addition, as PICO’s first MR mixed reality all-in-one products, PICO 4 Ultra through comprehensive leading flagship configuration, full link space video ability, with PICO body feeling tracker, and rich MR application ecology, the real world elements into the virtual world, bring users cover games, movie, fitness, screen, office, and other scenarios of new MR head show experience.

PICO 4 Ultra Is a device focusing on MR experience, which has made unprecedented breakthroughs in human-computer interaction, ecological interconnection and other aspects. Users can not only interact with virtual content in the realistic physical environment, but also switch between different devices at will, realizing silky, smooth and seamless connection. Today, PICO 4 UltraMR hybrid reality all-in-one machines are now on sale on all platforms.

WiMi builds a leading comprehensive capability

At the same time, the data shows, WiMi Hologram Cloud (NASDAQ: WIMI) as XR headset display pioneer and industry leader, based on its display in 3D and VR virtual reality, AR augmented reality, MR mixed reality, AI in the field of leading technology advantage and deep technology accumulation, whether in the upstream core technology, or terminal products, or downstream applications, have a huge opportunity, to create greater value for the society.

At present, WiMi mainly for augmented reality headset display equipment, including XR headset display, AI viewing glasses products prospective layout, through technological innovation and hardware research and development, build a more visual experience friendly display interface, with comfortable, good, healthy experience, can be widely used in viewing, play games, watch live, the aerial / FPV consumer entertainment areas, with advanced technology for people to create a good horizon and life experience.

What needs to be understood is that with the accelerated commercialization of AI technology, AI innovation in the business field has entered an active period, bringing consumers greater choice and autonomy. Artificial intelligence also happens to be one of the pillar industries of WiMi. Based on the complete XR industry chain, XR equipment is the excellent terminal carrier of artificial general intelligence AGI. WiMI supports multi-scene matching through AI and XR virtual experience, and will further create clearer and more comfortable HD products in the future.

To sum up

At present, with the rapid development of AI AI technology, the cutting-edge industries including virtual reality, augmented reality and mixed reality, detonated the global giants. This means that the mixed reality devices of the future are more than just personal entertainment or productivity tools, but are more likely to be an important vehicle connecting the daily life, work and social life of the masses. For companies, ensuring that they continue to dominate this emerging field is not only a need for technological innovation, but also a strategic need to maintain market dominance.