During the first half of 2025, global shipments of VR headsets experienced a 14% year-on-year decline, primarily attributed to the lackluster demand in the consumer market. The existing competitive landscape in the VR market remains relatively stable, as major original equipment manufacturers (OEMs) have launched fewer new products. Among these players, Meta stands out as the leader, commanding approximately an 80% share of the market. Counterpoint forecasts that in the latter half of 2025, as the mass production of cinema-class and waveguide-class new products picks up speed, the competition within the global AR smart glasses market will become even more fierce.