VR Hardware - Benelux

Benelux

Highlights

In the Benelux region, revenue in the VR Hardware market market is projected to reach US$168.1m in 2024.
Revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 9.02%, leading to a projected market volume of US$259.0m by 2029.
Although most revenue is generated China, the Benelux market is also poised for growth.
In the VR Hardware market market within this region, the number of users is anticipated to reach 2.5m users by 2029.
User penetration in Benelux will be 7.1% in 2024 and is expected to increase to 8.6% by 2029.
Furthermore, the average revenue per user (ARPU) in Benelux is expected to amount to US$81.2.
In the Benelux region, the demand for VR hardware is surging as businesses increasingly adopt immersive technologies for training and collaboration.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The VR Hardware market in Benelux has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Benelux region have played a crucial role in the development of the VR Hardware market.

Consumers in Benelux have shown a growing interest in immersive and interactive experiences, which has fueled the demand for VR hardware. The desire for realistic gaming experiences, virtual travel, and virtual meetings has led to an increased adoption of VR headsets and other VR devices. Trends in the market have also contributed to the growth of the VR Hardware market in Benelux.

The advancements in technology have made VR hardware more accessible and affordable, making it appealing to a wider range of consumers. Additionally, the increasing availability of VR content and applications has created a virtuous cycle, where the demand for VR hardware drives the development of more VR content, which in turn drives the demand for more VR hardware. Local special circumstances in the Benelux region have further fueled the growth of the VR Hardware market.

Benelux is home to a vibrant gaming industry and has a strong presence in the technology sector. This has created a favorable environment for the development and adoption of VR hardware. The presence of tech-savvy consumers and a supportive ecosystem of developers and content creators has contributed to the growth of the VR Hardware market in Benelux.

Underlying macroeconomic factors have also played a role in the development of the VR Hardware market in Benelux. The region has experienced steady economic growth, which has increased consumer purchasing power and disposable income. This has made it easier for consumers to invest in VR hardware and accessories.

Additionally, the increasing popularity of VR technology has attracted investments and funding, leading to further innovation and development in the market. In conclusion, the VR Hardware market in Benelux is experiencing significant growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The increasing interest in immersive experiences, advancements in technology, a supportive ecosystem, and favorable economic conditions have all contributed to the development and expansion of the VR Hardware market in Benelux.

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).