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China`s VR Headset Market Plummets 56% in H1 2023, Pico Maintains 50% Market Share

ChinaVRMarket

According to the latest statistical report published by market research organization CounterpointResearch, China's VR headset device shipments fell sharply by 56% in the first half of 2023, ending two consecutive years of growth in 2021-2022.

Expanding to the global market, the global VR market shipments in the first half of this year fell 39% year-on-year, and the Chinese market fell even more.


Related: VR Displays From Panox Display

In the second quarter of 2023, China's share of global VR shipments was a relatively low 10 percent, while the share in smartphones reached 20-30 percent.

As the market leader, Pico holds a huge market share of about 50 percent. However, even Pico experienced a year-over-year decline of more than 50 percent in the first half of 2023.

Sony held a 19% market share thanks to the PSVR2's significant increase in sales after its release attracting Chinese PlayStation enthusiasts to buy and explore the product, although the PSVR2's momentum is expected to wane in the second half of 2023.

Dapeng VR continues to lead the Chinese enterprise segment due to its competitive pricing, but is also facing a declining user base due to a slowdown in digital transformation spending by Chinese enterprises. Beyond the top three, there are still limited competitors in the Chinese VR space, with Aiki exiting the market due to operational difficulties.



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