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VR Hardware - Argentina

Argentina

In Argentina, revenue in the VR Hardware market market is projected to reach US$36.9m in 2024.
Revenue in this market is expected to exhibit an annual growth rate (CAGR 2024-2029) of 9.40%, leading to a forecasted market volume of US$57.9m by 2029.
Although the projected market volume for Argentina is significantly lower, most revenue in the global context is generated China, which is projected to reach US$2,902.0m in 2024.
In the VR Hardware market market, the number of users in Argentina is anticipated to amount to 697.1k users by 2029.
User penetration in Argentina will be 1.2% in 2024 and is expected to increase to 1.5% by 2029.
The average revenue per user (ARPU) in Argentina is expected to amount to US$66.6.
In Argentina, the burgeoning interest in immersive experiences is driving innovation in VR hardware, fostering a dynamic landscape for local developers and content creators.

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Analyst Opinion

The VR Hardware market in Argentina is experiencing significant growth and development.

Customer preferences: Customers in Argentina are increasingly interested in virtual reality technology, as it offers an immersive and interactive experience. The ability to explore virtual worlds, play games, and engage in virtual simulations is appealing to a wide range of consumers. Additionally, the younger generation in Argentina is particularly interested in VR technology, as they are more tech-savvy and open to trying new experiences.

Trends in the market: One of the key trends in the VR Hardware market in Argentina is the increasing availability of affordable VR headsets. As technology advances and production costs decrease, more affordable options are becoming available to consumers. This has made VR technology more accessible to a larger portion of the population, driving market growth. Additionally, there is a growing trend of VR being used for educational and training purposes in Argentina. This includes virtual classrooms, virtual tours of historical sites, and virtual training simulations for various industries.

Local special circumstances: Argentina has a growing tech industry, with a number of startups and companies focusing on virtual reality technology. This has led to increased investment and innovation in the VR Hardware market. Additionally, the government in Argentina has shown support for the development of the tech industry, providing incentives and funding for startups and companies in the VR sector. This supportive environment has contributed to the growth of the VR Hardware market in Argentina.

Underlying macroeconomic factors: Argentina has experienced economic challenges in recent years, including high inflation and a volatile currency. This has impacted consumer spending habits, with many consumers looking for affordable entertainment options. VR technology offers a relatively affordable form of entertainment, especially compared to other forms of entertainment such as travel or attending live events. As a result, the VR Hardware market in Argentina has seen increased demand as consumers look for more affordable ways to enjoy immersive experiences. In conclusion, the VR Hardware market in Argentina is experiencing growth and development due to customer preferences for immersive experiences, the availability of affordable VR headsets, the use of VR for educational and training purposes, local special circumstances such as a supportive tech industry and government incentives, and underlying macroeconomic factors such as the desire for affordable entertainment options in a challenging economic environment.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on VR hardware revenue, which includes digital spending on hardware (stand-alone and tethered units) that enables consumers to dive into the virtual world.

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).