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The global market for mixed reality (XR) headset has declined by more than 30 percent in the first quarter of 2023. According to new reports, consumers are not too keen on the segment with lack of new technology and products hampering its demand or interest.

Meta is the lone competitor at the top with its Quest series, but others are likely to make a mark in the coming years. Meta has around 49 percent share, followed by Sony with 32 percent. The likes of Pico, DPVR, and HTC among others cover up the rest with 7 percent, 6 percent and 1 percent share, respectively.

Pricing is the biggest pain point for the segment, which explains why Meta has found enough takers with its comparatively-affordable Quest headsets. Apple will definitely have its hands full trying to convince people to splurge $3,499 on its premium XR headset, but industry experts believe that Apple has the tech and the power to push the industry and get more partners involved in product development for the future.

Mixed reality includes both virtual and augmented reality, both of which have been around for years. Google has taken keen interest in these ecosystems but the company has quickly realised that the market is niche and has limited use cases to push it in the market.

The future projections for the XR headset market is promising but a lot of dynamics have to change for those aspirations to become reality. Apple has a track record getting the industry to sit up and take notice, and it is obvious that the Vision Pro headset got everyone thinking, even if Meta says they are not bothered by the product. The market growth will not only depend on the technology but also ensure the products are accessible for the buyer, otherwise, it is hard to see the segment go beyond its niche tag.