Definition:
Augmented reality (AR) and virtual reality (VR) make it possible to combine the real and virtual worlds. AR is generally accessed via mobile phones and primarily relies on lenses. AR effects can be created by using lenses in social media apps, for example. AR is also used for displaying digital 3D objects in our surroundings, e.g., in gaming or eCommerce apps. Meanwhile, VR technology allows users to dive into the virtual world, and, unlike AR technology, it requires a headset device which enables the creation of virtual worlds.
Structure:
The AR & VR market consists of six different markets: AR Advertising, AR Hardware, AR Software, VR Advertising, VR Hardware, and VR Software. AR Advertising covers mobile advertising that is displayed in the most prominent social media apps. AR Hardware comprises AR headsets and glasses. AR Software is divided into three different application types, namely social media, gaming, and eCommerce applications, which can be accessed via the most prominent app stores. VR Advertising covers in-game advertising as well as advertising in VR videos. VR Hardware comprises both tethered head-mounted displays (HMDs) and stand-alone HMD headsets. Lastly, VR Software covers VR games and VR videos, which require headsets.
Additional information:
The market comprises revenues, users, average revenue per user, and penetration rates. Revenues are generated through in-app purchases, advertising spending, and consumer spending on apps, games, and hardware such as headsets or glasses. Sales channel data shows both online and offline revenues, which include VAT. The market only displays B2C revenues and users for the above-mentioned markets and markets; B2B and B2G revenues are not included. Additional definitions for each market can be found on the respective market pages.
Market numbers for VR headsets are also featured in the Consumer Market Insights, namely in the Gaming Equipment market of the Consumer Electronics market. Unlike the VR Hardware market in the Advertising & Media Outlook, the Gaming Equipment market also covers smartphone VR devices.
Key players in the market include companies such as Meta (Oculus VR), Microsoft (HoloLens), Snap Inc. with different lenses, and Nvidia, which offers computing hardware components.
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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Apr 2024
Source: Statista Market Insights
Most recent update: Apr 2024
Source: Statista Market Insights
The AR & VR market in Denmark has been experiencing significant growth in recent years, driven by customer preferences for immersive experiences and the adoption of advanced technologies.
Customer preferences: Customers in Denmark have shown a strong interest in immersive experiences provided by AR & VR technologies. They are increasingly seeking unique and interactive ways to engage with content, whether it's in gaming, entertainment, or even in industries like education and healthcare. The demand for virtual reality headsets and augmented reality applications has been on the rise, as consumers are looking for more immersive and realistic experiences.
Trends in the market: One of the key trends in the AR & VR market in Denmark is the increasing use of virtual reality in gaming. With the rise of gaming enthusiasts and the popularity of esports, virtual reality gaming has gained traction among Danish consumers. The ability to fully immerse oneself in a virtual world and interact with it has become a major selling point for game developers and hardware manufacturers. Another trend in the market is the integration of augmented reality in various industries. Danish businesses are leveraging AR technology to enhance customer experiences, improve product visualization, and provide virtual tours. For example, companies in the furniture and interior design sector are using AR applications to allow customers to visualize how their products would look in their homes before making a purchase.
Local special circumstances: Denmark's strong focus on innovation and technology adoption has created a favorable environment for the growth of the AR & VR market. The country has a well-established infrastructure and a high level of digital literacy among its population, which has facilitated the adoption of these advanced technologies. Additionally, Denmark's small size and high population density make it easier for businesses to test and implement AR & VR solutions on a smaller scale before expanding to larger markets.
Underlying macroeconomic factors: Denmark's strong economy and high disposable income levels have also contributed to the growth of the AR & VR market. Consumers in Denmark have the financial means to invest in AR & VR devices and applications, driving demand in the market. Furthermore, the government's support for innovation and technology development through various initiatives and funding programs has encouraged businesses to invest in AR & VR solutions. In conclusion, the AR & VR market in Denmark is experiencing significant growth due to customer preferences for immersive experiences, the integration of advanced technologies in various industries, Denmark's favorable business environment, and the country's strong economy. These factors are driving the adoption of AR & VR technologies and creating opportunities for businesses in the market.
Most recent update: Apr 2024
Source: Statista Market Insights
Most recent update: Apr 2024
Source: Statista Market Insights
Data coverage:
The data encompasses B2C enterprises. Figures are based on the AR & VR market. AR and VR enable consumers to experience a new dimension, using either a headset or installed units, as they combine the real and virtual worlds. Consumer revenue figures refer to revenues relating to AR hardware, AR software, VR hardware, VR software, and spending on AR and VR advertising. Both digital and non-digital revenues are included.Modeling approach / Market size:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, as well as third-party studies and reports. In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending, internet penetration, 4G coverage, and historical developments. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are level of digitalization, adoption of technology, GDP per capita, and internet penetration.Additional notes:
The market is updated twice a year in case market dynamics change. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Jan 2025
Source: Statista Market Insights