AR & VR - Romania

Romania

In Romania, revenue in the AR & VR market market is projected to reach US$71.8m in 2024.
This revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 9.31%, leading to a projected market volume of US$112.1m by 2029.
The largest market within this market in Romania is VR Hardware, which is anticipated to have a market volume of US$20.2m in 2024.
While most revenue is generated the United States with a projected market volume of US$10,900.0m in 2024, in Romania is also expected to contribute to the overall figures.
In the AR & VR market market, the number of users in Romania is expected to amount to 9,596.0k users by 2029.
User penetration in Romania will be 47.9% in 2024 and is projected to reach 50.3% by 2029.
The average revenue per user (ARPU) in Romania is expected to amount to US$7.6.
Romania's AR and VR market is experiencing significant growth, driven by increased investment in technology and a burgeoning interest in 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.
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Analyst Opinion

The AR & VR market in Romania is experiencing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Romania are shifting towards immersive and interactive experiences, which is fueling the demand for AR & VR technologies.

Consumers are increasingly seeking unique and engaging ways to interact with products and services, and AR & VR provide an innovative solution. These technologies allow users to explore virtual environments, try out products virtually, and even participate in virtual events and experiences. The growing interest in these immersive experiences is driving the adoption of AR & VR technologies in Romania.

Trends in the market are also contributing to the development of the AR & VR market in Romania. The increasing availability of affordable VR headsets and AR-enabled smartphones has made these technologies more accessible to a wider audience. This has led to a surge in the number of AR & VR applications and content being developed specifically for the Romanian market.

Companies are recognizing the potential of these technologies to enhance their products and services, and are investing in AR & VR development to stay competitive. Additionally, the gaming industry is embracing AR & VR technologies, with virtual reality gaming experiences gaining popularity among Romanian gamers. Local special circumstances in Romania are also playing a role in the growth of the AR & VR market.

The country has a strong IT sector and a skilled workforce, which has facilitated the development and adoption of AR & VR technologies. Romanian companies are actively involved in the development of AR & VR applications and content, contributing to the growth of the market. Furthermore, the government has shown support for the tech industry, providing incentives and support for companies working in the AR & VR space.

This favorable business environment has attracted both local and international players to invest in the AR & VR market in Romania. Underlying macroeconomic factors are also driving the development of the AR & VR market in Romania. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending.

This has created a favorable market for AR & VR technologies, as consumers have more purchasing power to invest in these innovative products and experiences. Additionally, the growing tourism industry in Romania presents opportunities for AR & VR applications in the travel and hospitality sectors. In conclusion, the AR & VR market in Romania is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

The demand for immersive and interactive experiences, the availability of affordable AR & VR technologies, the support of the government, and the favorable economic conditions are all contributing to the expansion of the AR & VR market in Romania.

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).