VR Advertising - Taiwan

Taiwan

Highlights

In Taiwan, revenue in the VR Advertising market market is projected to reach US$1.3m in 2024.
It is expected that revenue will show an annual growth rate (CAGR 2024-2029) of 1.35%.
This growth will result in a projected market volume of US$1.3m by 2029.
While in Taiwan the projected market volume is US$47.4m in 2024, most revenue in the VR Advertising market sector is generated the United States.
Taiwan's VR advertising market is experiencing innovative growth, driven by a surge in local tech startups integrating immersive experiences into consumer engagement strategies.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The VR Advertising market in Taiwan is experiencing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Taiwanese consumers have shown a growing interest in virtual reality (VR) technology, making them more receptive to VR advertising. They are increasingly looking for immersive and interactive experiences that go beyond traditional advertising formats. VR advertising offers a unique way for brands to engage with consumers and create memorable experiences. Additionally, Taiwanese consumers are known for their tech-savviness and willingness to adopt new technologies, making them an ideal target audience for VR advertising campaigns.

Trends in the market: One of the key trends in the VR Advertising market in Taiwan is the increasing availability and affordability of VR headsets. As the prices of VR headsets continue to decrease, more Taiwanese consumers are able to access and experience VR content at home. This has created a larger audience for VR advertising campaigns, as brands can now reach consumers directly through their personal VR devices. Another trend in the market is the integration of VR technology into other industries, such as gaming, entertainment, and tourism. Taiwanese companies are exploring innovative ways to incorporate VR into their marketing strategies, creating immersive experiences that showcase their products or services. For example, VR gaming experiences are becoming popular in Taiwan, and brands are leveraging this trend to advertise their products within these virtual environments.

Local special circumstances: Taiwan has a strong technology and gaming industry, which provides a favorable environment for the growth of the VR Advertising market. The country is home to several VR startups and developers, who are pushing the boundaries of VR technology and creating new opportunities for advertising. Additionally, Taiwan has a high internet penetration rate and a tech-savvy population, making it easier for brands to reach and engage with consumers through digital platforms.

Underlying macroeconomic factors: The VR Advertising market in Taiwan is also influenced by underlying macroeconomic factors. The country has a stable and growing economy, which has led to increased consumer spending power. As a result, brands are willing to invest in innovative advertising strategies, such as VR, to capture the attention and purchasing power of Taiwanese consumers. Furthermore, the government of Taiwan has been supportive of the VR industry, providing funding and incentives to encourage its growth. This has created a favorable business environment for VR advertising companies, attracting both local and international players to the market. In conclusion, the VR Advertising market in Taiwan is experiencing growth and development due to customer preferences for immersive and interactive experiences, trends in the market such as the availability of affordable VR headsets, local special circumstances including a strong technology industry, and underlying macroeconomic factors such as a stable economy and government support. These factors combined create a promising landscape for VR advertising in Taiwan, with ample opportunities for brands to connect with consumers in new and engaging ways.

Data coverage:

The data encompasses B2C enterprises. Figures are based on VR advertising revenue, which includes advertising that is integrated into the virtual world within video games and videos.

Modeling approach / market size:

The market size is determined through a top-down approach. We use annual financial reports of the market-leading companies and industry associations, as well as third-party studies and reports to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as consumer spending, internet penetration, 4G coverage, and historical developments.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, 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 data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. 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).