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The AR & VR market in EU-27 is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in the EU-27 region are increasingly interested in immersive and interactive experiences, which is driving the demand for AR & VR technologies. They are looking for innovative ways to engage with content and products, and AR & VR provide a unique and captivating experience. Additionally, customers are becoming more tech-savvy and open to adopting new technologies, further fueling the growth of the AR & VR market.
Trends in the market: One of the key trends in the AR & VR market in the EU-27 is the increasing adoption of these technologies in various industries. For example, in the gaming industry, AR & VR are being used to create more immersive and realistic gaming experiences. In the healthcare sector, AR & VR are being utilized for medical training and patient education. The retail industry is also embracing AR & VR to enhance the shopping experience and enable virtual try-ons. These trends are driving the demand for AR & VR solutions and contributing to the growth of the market.
Local special circumstances: The EU-27 region has a strong focus on innovation and technology, which creates a favorable environment for the development of the AR & VR market. The region is home to several leading tech companies and startups that are driving advancements in AR & VR technologies. Additionally, the EU-27 has a large consumer base with high disposable income, which makes it an attractive market for AR & VR companies to operate in.
Underlying macroeconomic factors: The AR & VR market in the EU-27 is also influenced by underlying macroeconomic factors. The region has a stable economy and favorable business environment, which encourages investment in emerging technologies like AR & VR. Furthermore, the EU-27 has a strong regulatory framework in place to protect consumer rights and ensure data privacy, which builds trust and confidence in the use of AR & VR technologies. In conclusion, the AR & VR market in the EU-27 is experiencing growth and development due to customer preferences for immersive experiences, trends in various industries, local special circumstances that foster innovation, and underlying macroeconomic factors that create a favorable business environment. As the market continues to evolve, we can expect to see further advancements and adoption of AR & VR technologies in the EU-27 region.
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).Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)