Chinese AR Gadget Market to Stay Hot After Nearly Quadrupled Sales in 2nd Quarter, CINNO Says
Lv Yining
DATE:  Jul 25 2023
/ SOURCE:  Yicai
Chinese AR Gadget Market to Stay Hot After Nearly Quadrupled Sales in 2nd Quarter, CINNO Says Chinese AR Gadget Market to Stay Hot After Nearly Quadrupled Sales in 2nd Quarter, CINNO Says

(Yicai Global) July 25 -- Sales of augmented reality products jumped 251 percent in China in the second quarter from a year ago due to innovation and reduced cost and the trend is here to stay, according to a market research agency.

Consumer sales of AR products rose 19 percent to 52,000 units during the three months from the first quarter, CINNO Research wrote in a report published today.

Revenue growth is predicted to continue in the third quarter as summer tourism and demand for AR-based outdoor navigation, translation, and large-screen movie viewing increases, it added.

AR equipment manufacturers are reducing their costs by increasingly focusing on entertaining rather than professional aspects of their products. They are adding functions such as video projection and photography to make the products more diverse and fun, per the report.

In the second quarter, TCL-backed Rayneo was No. 1 with a 39 percent market share, followed by Xreal, formerly known as Nreal, which had a share of 30 percent. Hangzhou-based Rokid and Shenzhen-based Inmo accounted for 14 percent and 7 percent of the market, respectively. Thus, the four leading brands made up 90 percent of the whole market.

Editor: Emmi Laine

Follow Yicai Global on
Keywords: