AR & VR - EAEU

EAEU

Revenue in the AR & VR market market in the EAEU is projected to reach US$552.3m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.13%, resulting in a projected market volume of US$855.0m by 2029.
The largest market within the EAEU is AR Software, with a market volume of US$192.3m in 2024.
With a projected market volume of US$10,900.0m in 2024, most revenue is generated the United States.
In the AR & VR market market in the EAEU, the number of users is expected to amount to 63.5m users by 2029.
User penetration will be 43.1% in 2024 and is expected to hit 44.8% by 2029.
The average revenue per user (ARPU) in this market is expected to amount to US$8.9.
In the EAEU, the AR & VR market is rapidly evolving, driven by increasing investments in digital transformation and a growing demand for immersive experiences across various sectors.

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.
For more information on the data displayed, use the info button right next to the boxes.

Market

Region

Region comparison

Currency

Analyst Opinion

The AR & VR market in EAEU is witnessing significant growth and development, driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the AR & VR market in EAEU are shifting towards immersive and interactive experiences.

Consumers are increasingly seeking virtual reality (VR) and augmented reality (AR) technologies to enhance their gaming, entertainment, and educational experiences. The demand for VR headsets, gaming consoles, and AR-enabled smartphones is on the rise, as customers look for more engaging and realistic experiences. Trends in the AR & VR market in EAEU are shaped by advancements in technology and the increasing adoption of these technologies across industries.

The gaming industry is a major driver of the AR & VR market, with game developers incorporating VR and AR features to create more immersive and interactive gameplay. Additionally, the healthcare and education sectors are embracing AR & VR technologies to enhance training and educational experiences. Furthermore, the real estate and tourism industries are utilizing AR & VR to provide virtual property tours and immersive travel experiences.

Local special circumstances in the EAEU region also contribute to the development of the AR & VR market. The EAEU countries have a growing tech-savvy population and a strong interest in innovative technologies. This, coupled with the increasing availability of affordable AR & VR devices, has created a favorable environment for the adoption and growth of these technologies.

Additionally, government initiatives and investments in the tech sector further support the development of the AR & VR market in EAEU. Underlying macroeconomic factors play a crucial role in the growth of the AR & VR market in EAEU. The region has experienced steady economic growth, leading to an increase in disposable income and consumer spending.

As a result, more individuals are able to afford AR & VR devices, contributing to the market's expansion. Moreover, the presence of a young and tech-savvy population in EAEU countries creates a strong consumer base for AR & VR products and services. In conclusion, the AR & VR market in EAEU is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

As consumers increasingly seek immersive and interactive experiences, the demand for AR & VR technologies continues to rise. With advancements in technology and the adoption of these technologies across various industries, the market is expected to further expand in the coming years.

Methodology

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).