2024 Q1 Domestic XR Market Update

TapTechNews, June 3rd. According to the statistics of CINNOResearch, the sales volume of the domestic XR market in the first quarter of 2024 was 164,000 units, a 12% quarter-on-quarter decline.

CINNOResearch said that among them, the sales volume of the consumer-level VR market was 98,000 units, a 6% year-on-year decline. The main reason is still that the current consumer-level VR is relatively niche, highlighting the insufficiency of the supporting content resources. While the sales volume of the consumer-level AR devices was 66,000 units, a 62% year-on-year increase. Currently, in the domestic market, the financing activity in the AR field is more active than that in the VR field. Rokid, XREAL, and Thunderbird Innovation all have corresponding financing developments. In addition, it is also superior to VR in terms of practicality and convenience.

CINNOResearch also said that in terms of price, due to the addition of Apple's VisionPro, the overall ASP price of VR devices continued to rise to $640 (about 4,124 yuan). The price structure of AR devices is relatively simple, still dominated by the $310-$470 (about 2,000-3,000 yuan) price range.

Furthermore, in terms of product form, in the VR devices in the Chinese market, consumers tend to choose VR all-in-one machines, with a share as high as 76%. In the AR devices, the share is 82%. With the continuous breakthrough of the optical waveguide technology, the share of AR glasses has also increased for three consecutive quarters.

TapTechNews noticed that in terms of the brand, foreign VR brands are continuously penetrating this quarter, and the share of domestic local brands is shrinking, and the share of local brands dropped to 83%. Pico (owned by Xiaoniao Kankan) brand firmly ranks in the first echelon, with a share of 55%, and Meta, relying on the popularity of the Quest3 series, jumped to the second place, and Dalpeng ranks third, both ranking in the second echelon. In the AR market, the first echelon XREAL slightly exceeds Thunderbird Innovation, with sales shares of 32% and 31% respectively.

From the perspective of hardware technology, in the screen display of the consumer-level VR market, FastLCD still dominates, with a share dropping to 91%, and the share of MicroOLED has increased for five consecutive quarters.