Qualcomm has recently launched its game-changing Snapdragon XR2+ Gen 2 chip, presenting a challenge to Apple and Meta in the VR/AR headset market. This new chip aims to enhance the companies’ competitiveness by offering advanced graphics processing, artificial intelligence, camera capabilities, and other improvements.
Prominent tech companies including Google and Samsung have expressed excitement about the Snapdragon XR2+ Gen 2 chip. Google’s Vice President of AR, Shahram Izadi, looks forward to collaborating with Qualcomm Technologies and Samsung to create immersive XR experiences for the Android ecosystem. Samsung’s Vice President and Head of Technology Strategy, Inkang Song, shares the sentiment, stating that they aim to revolutionize the mobile industry and provide a top-notch XR experience for Galaxy users.
The introduction of the Apple Vision Pro VR headset in June 2023 has garnered significant attention. However, industry analysis firm, International Data Corp. (IDC), projects that Apple’s unit shipments in the following year will likely be less than 200,000. Currently, Meta dominates the VR market with a 55% market share in the third quarter of 2023, primarily driven by its Quest 3 headset.
IDC expects a significant recovery in the shipment of AR/VR headsets in 2024, attributing it to the new products from Meta and Apple. Despite the industry facing challenges due to macroeconomic pressures and reduced spending in 2023, IDC anticipates robust growth in the coming year.
Although Qualcomm shares experienced a slight decline of 0.7% on Thursday, they have shown substantial gains of more than 22% over the past year.
In summary, Qualcomm’s latest Snapdragon XR2+ Gen 2 chip marks a game-changer in the VR/AR headset market. With its enhanced features and capabilities, it enables Google and Samsung to position themselves as strong competitors against Apple and Meta in the industry. Furthermore, industry analysts anticipate a resurgence in the AR/VR headset market in 2024, driven by the advancements made by Meta and Apple.
