VR Hardware - Worldwide

Worldwide

Highlights

Revenue in the VR Hardware market market is projected to reach US$11.4bn in 2024 worldwide.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.36%, resulting in a projected market volume of US$17.9bn by 2029 worldwide.
With a projected market volume of US$2.9bn in 2024, most revenue is generated China.
In the VR Hardware market market worldwide, the number of users is expected to amount to 167.2m users by 2029.
User penetration will be 2.1% in 2024 and is expected to hit 2.5% by 2029 worldwide.
The average revenue per user (ARPU) is expected to amount to US$85.7 worldwide.
The worldwide VR hardware market is increasingly driven by advancements in immersive technology, reflecting a growing consumer appetite for enhanced interactive experiences.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The VR Hardware market is experiencing significant growth and development Worldwide. Customer preferences are driving this trend, as consumers are increasingly interested in immersive virtual reality experiences. This has led to a surge in demand for VR hardware, including headsets, controllers, and other accessories. Additionally, there are several trends in the market that are contributing to its growth.

Customer preferences: Customers are increasingly seeking out virtual reality experiences, both for entertainment and practical purposes. Virtual reality allows users to fully immerse themselves in a digital environment, providing a unique and engaging experience. This has led to a growing demand for VR hardware, as consumers look to enhance their virtual reality experiences.

Trends in the market: One major trend in the VR Hardware market is the development of more advanced and affordable headsets. As technology continues to improve, VR headsets are becoming more powerful and realistic, while also becoming more accessible to a wider range of consumers. This has made virtual reality experiences more appealing and has contributed to the growth of the VR Hardware market. Another trend in the market is the increasing integration of virtual reality into other industries. Virtual reality is being used in fields such as gaming, entertainment, healthcare, and education, among others. This has created new opportunities for VR hardware manufacturers, as they can cater to a variety of industries and target different customer segments.

Local special circumstances: In addition to global trends, there are also local special circumstances that are impacting the VR Hardware market in specific countries and regions. For example, in countries with a strong gaming culture, there is a higher demand for VR hardware for gaming purposes. In countries with a focus on healthcare, there may be a greater demand for VR hardware that is specifically designed for medical applications.

Underlying macroeconomic factors: The growth of the VR Hardware market is also influenced by underlying macroeconomic factors. As economies continue to grow and disposable incomes increase, consumers have more money to spend on leisure activities, including virtual reality experiences. Additionally, advancements in technology and manufacturing processes have made VR hardware more affordable to produce, which has contributed to its growth. In conclusion, the VR Hardware market is experiencing significant growth and development Worldwide. Customer preferences for immersive virtual reality experiences are driving this trend, leading to a surge in demand for VR hardware. There are several trends in the market, including the development of more advanced and affordable headsets, as well as the integration of virtual reality into various industries. Local special circumstances and underlying macroeconomic factors also play a role in shaping the VR Hardware market in specific countries and regions.

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).