1. Meta Platforms, Inc. AR, VR and MR Accessories Market Performance
Revenue Growth:
There is a significant increase in revenue from 2018 to 2020, with a substantial jump from $129.1 million to $915.2 million, indicating a major expansion in Meta’s AR, VR, and MR accessories business.
The revenue continues to grow through 2021 and 2022, reaching a peak of $1878.6 million, suggesting sustained market interest and growth in Meta’s product offerings.
The estimated revenue for 2023 shows a slight decrease to $1522.6 million, which could be due to market saturation, increased competition, or strategic adjustments.
Gross Margin:
The gross margin percentage improves over time, moving from -32.26% in 2018 to -8.49% in 2023, showing that Meta is reducing the loss per dollar of revenue, albeit gradually.
Table Meta Platforms, Inc. AR, VR and MR Accessories Revenue and Gross Margin (2018-2023)
Meta | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Value (M USD) | 129.1 | 165.2 | 915.2 | 1773.9 | 1878.6 | 1522.6 |
Gross (M USD) | (41.6) | (51.0) | (173.3) | (357.6) | (192.8) | (129.3) |
Gross Margin | -32.26% | -30.90% | -18.94% | -20.16% | -10.27% | -8.49% |
The overall trend shows a significant increase in market share from 8.01% in 2018 to 55.91% in 2021, followed by a decline in subsequent years. This suggests that while Meta has managed to capture a large portion of the market, it may face challenges in maintaining this growth.
Figure Meta Platforms, Inc. AR, VR and MR Accessories Revenue Market Share 2018-2023
2 Pico AR, VR and MR Accessories Market Performance
Revenue Growth:
Pico’s revenue has grown significantly over the years from $30.5M in 2018 to $214.4M in 2023, indicating that Pico has successfully expanded its product offerings and captured market share.
Gross Margin:
Although gross margin has remained negative during this period, the gradual reduction in gross margin percentage indicates Pico’s progress in improving efficiency and reducing costs. The improvement from -51.00% in 2018 to an estimated -6.95% in 2023 shows the company’s gradual improvement in financial condition.
Table Pico AR, VR and MR Accessories Revenue and Gross Margin (2018-2023)
Pico | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Revenue (M USD) | 30.5 | 68.1 | 93.8 | 188.2 | 285.6 | 214.4 |
Gross (M USD) | (15.6) | (16.1) | (33.1) | (35.7) | (59.0) | (14.9) |
Gross Margin | -51.00% | -23.60% | -35.26% | -18.95% | -20.65% | -6.95% |
Pico’s market share has generally shown an upward trend, from 1.89% in 2018 to 8.42% in 2022. Although its market share is expected to decline in 2023, Pico still maintains a strong market position.
Figure Pico AR, VR and MR Accessories Revenue Market Share 2018-2023
