VR devices see a drop in sales, but Sony PS VR2 and Meta Quest 3 will push the market in 2023

TrendForce estimates that by the end of 2022, approximately 8.58 million VR devices will have been shipped globally, a 5.3% decrease from 2021. However, researchers predict that global VR device shipments will recover to 10.35 million units in 2023, seeing an annual growth rate of 20.6%. New promising VR headsets, such as the Sony PlayStation VR2 and the Meta Quest 3, will release next year and drive the demand for VR devices.

The report remarked on three reasons for global shipments of VR gadgets falling in 2022. Global inflation has suppressed consumer demand for various products this year, while the demand for Meta’s Quest headsets has diminished due to increased prices. VR brands also decided not to release new products this year or delayed new product releases, which also contributed to lower sales.

Meta has been the leading player in the VR market. The company has been investing billions into the technology, so offering cheaper VR devices became unsustainable. After being pressured, Meta increased the prices of its Quest products. The tech company’s newest creation, the Meta Quest Pro, costs $1,499, almost four times more than its predecessor, Meta Quest 2.

TrendForce foresees global shipment of the Quest Pro, reaching only 250,000 units in 2022, but positive growth is expected for Meta’s products after the Quest 3 release in 2023. The forecast for Meta’s shipments in 2023 totaled around 7.25 million VR devices.

Sony will also raise sales next year with the PS VR2 device, but the product has one downside: It targets only the gaming market. Yet the device will provide a far better gaming experience. Sony’s product is expected to contribute to the VR market on a large scale. As per Trendforce 2023 forecasts, PS VR2 will reach 1.6 million units.