According to the report, shipments of AR/VR headsets will increase significantly in 2023.

According to recent data released by the IDC Worldwide Quarterly AR/VR Headset Tracker, the global market for XR headsets witnessed significant growth of 130.4% year-on-year during the fourth quarter of 2023.

The report also highlighted a 23.5% year-on-year decline in XR headset shipments for most of 2023. However, new product launches such as the Quest 3 in late 2023 helped market performance rebound in some regions during the fourth quarter.

Ramon T. Llamas, IDC Augmented and Virtual Reality Program Research DirectorAdded:

2023 began much the same way 2022 ended. That said, there was a significant decline compared to the previous year. This has mirrored the situation in many other markets, and AR/VR is not immune. But it has allowed companies across the ecosystem to further hone their experience in mixed reality, artificial intelligence and display technologies to prepare for a better 2024.

Moreover, during the last quarter of 2023, Apple primed consumers with its Vision Pro devices launching in February 2024, which also contributed to its extensive investment in headsets.

Is the meta on the rise?

Reality Labs, Meta’s XR research arm, has reported quarterly revenue of £1 billion for the first time. This comes after a year of efficiencies that saw the department generate $1 billion in revenue in the three months ending 2023. Reality Labs lost $4.65 billion over 2023, but its most recent quarterly earnings were positive.

Jitesh dressed upIDC Mobility and Consumer Device Tracker Research Manager; Added:

After losing share to Pico and later Sony a few quarters ago, Meta’s share has steadily risen thanks to continued hardware subsidies and the launch of the Quest 3. While Apple’s entry into the space and new devices from other vendors will certainly put pressure on it, Meta’s lead is unlikely to be challenged during the year as the company’s low-cost, high-volume strategy will separate it from the rest.

Meta CEO Mark ZuckerbergWe also met recently. LG Chairman Cho William and Chairman Park Hyeong-seThe CEO of Home Entertainment is taking a commemorative photo at the LG Twin Tower in Yeouido, Seoul.

The two-hour meeting discussed potential collaboration between the two companies on XR devices. The meeting marked the launch of a strategic partnership between LG and Meta to advance the development of XR devices and improve customer experience. Recently, Meta announced its commitment to its enterprise Metaverse solution. Perhaps a new breath of life is coming to the company.