VR Hardware - Taiwan

Taiwan

Highlights

In Taiwan, revenue in the VR Hardware market market is projected to reach US$116.4m in 2024.
Revenue in this market is expected to exhibit an annual growth rate (CAGR 2024-2029) of 9.01%, leading to a projected market volume of US$179.2m by 2029.
While the overall market is significant, most revenue is generated China, which has a projected market volume of US$2.9bn in 2024.
In the VR Hardware market market specifically in Taiwan, the number of users is expected to amount to 1.8m users by 2029.
User penetration in Taiwan will be 6.2% in 2024 and is anticipated to reach 7.6% by 2029.
The average revenue per user (ARPU) in Taiwan is expected to amount to US$78.3.
Taiwan's burgeoning VR hardware market is increasingly driven by innovative local startups, showcasing the nation's commitment to advancing immersive technology solutions.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The VR Hardware market in Taiwan has been experiencing significant growth in recent years, driven by the increasing popularity of virtual reality technology and the growing demand for immersive gaming and entertainment experiences.

Customer preferences: In Taiwan, customers have shown a strong preference for high-quality VR hardware that offers a seamless and immersive experience. They are particularly interested in devices that provide realistic graphics, precise motion tracking, and comfortable wearability. Taiwanese consumers also value affordability and are willing to invest in VR hardware that offers good value for money. As a result, there is a growing demand for mid-range VR headsets that offer a balance between performance and price.

Trends in the market: One of the key trends in the VR Hardware market in Taiwan is the increasing adoption of standalone VR headsets. These devices, which do not require a separate computer or smartphone to function, offer a more convenient and portable VR experience. Standalone VR headsets have become particularly popular among gamers and entertainment enthusiasts who want to enjoy VR content without being tethered to a computer or smartphone. Another trend in the market is the integration of augmented reality (AR) capabilities into VR hardware. This allows users to overlay digital content onto the real world, creating a mixed reality experience. The combination of VR and AR technologies offers new possibilities for gaming, education, and training applications, and Taiwanese consumers are showing a growing interest in these hybrid devices.

Local special circumstances: Taiwan is known for its strong technology industry and has a number of established VR hardware manufacturers. These companies have been able to leverage their expertise in hardware design and manufacturing to develop innovative VR products that cater to the specific preferences of Taiwanese consumers. Additionally, Taiwan has a vibrant gaming and entertainment industry, which has helped to drive the demand for VR hardware.

Underlying macroeconomic factors: The growth of the VR Hardware market in Taiwan is also influenced by several macroeconomic factors. The country has a high level of disposable income and a strong consumer electronics market, which has created a favorable environment for the adoption of VR technology. Additionally, the government of Taiwan has been actively promoting the development of the VR industry through various initiatives and incentives, further fueling the growth of the market. In conclusion, the VR Hardware market in Taiwan is experiencing rapid growth due to the increasing popularity of virtual reality technology and the strong demand for immersive gaming and entertainment experiences. Taiwanese consumers have specific preferences for high-quality, affordable VR hardware, and there is a growing trend towards standalone headsets and devices that integrate augmented reality capabilities. The local technology industry and government support have also played a significant role in driving the growth of the market.

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).