VR Software - Bangladesh | Statista Market Forecast

Revenue in the VR Software market market in Bangladesh is projected to reach US$1.8m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.81%, resulting in a projected market volume of US$2.7m by 2029.
While most revenue in the global VR Software market market is generated the United States, in Bangladesh is also anticipated to see substantial growth.
In the VR Software market market withBangladesh, the number of users is expected to amount to 90.4k users by 2029.
User penetration in Bangladesh will be 0.0% in 2024 and is expected to reach 0.0% by 2029.
The average revenue per user (ARPU) in Bangladesh is expected to amount to US$23.5.
In Bangladesh, the burgeoning interest in VR software is driving innovation in education and entertainment, reflecting a growing demand for immersive digital experiences.

The VR Software market can be divided into two markets: Gaming and Video. Gaming includes all revenues that are generated from VR games, either through game purchases via Steam or any other marketplace or through in-game purchases. Purchases of physical video games are also included. According to Steam, the top-selling VR games are Half-Life: Alyx, Beat Saber, as well as Blade and Sorcery. The Video market contains all revenues from video apps, such as 360-degree videos, or from any other application, such as Google Earth VR. VR software revenues comprise in-app purchases, subscriptions, as well as app and game purchases.

Digital revenues from virtual reality games and videos for consumers
Virtual reality games that can be accessed via headsets and installed units
Virtual reality videos that can be accessed via headsets, such as 360-degree videos and virtual reality videos made for headset consumption

Virtual reality content that can be accessed without any installed devices, e.g., via desktop PCs or mobile phones
B2B enterprise software

The VR Software market in Bangladesh is experiencing significant growth and development.

Customer preferences: Customers in Bangladesh are increasingly interested in virtual reality (VR) technology and its applications. VR software provides users with immersive and interactive experiences, allowing them to explore virtual environments and engage with digital content in a new and exciting way. This has captured the attention of both individual consumers and businesses in Bangladesh, who are looking to incorporate VR technology into their daily lives and operations.

Trends in the market: One of the key trends in the VR Software market in Bangladesh is the growing demand for VR gaming software. Gaming enthusiasts in the country are embracing VR technology as a way to enhance their gaming experience. As a result, game developers are focusing on creating VR games that cater to this demand. Additionally, the education sector in Bangladesh is also adopting VR software to create interactive and immersive learning experiences for students. This trend is driven by the belief that VR technology can enhance learning outcomes and make education more engaging and enjoyable.

Local special circumstances: Bangladesh is a rapidly developing country with a young and tech-savvy population. This demographic is eager to embrace new technologies and experiences, including VR software. Additionally, the government of Bangladesh has been actively promoting the growth of the digital economy and supporting the development of the technology sector. This favorable environment has created opportunities for VR software companies to thrive and expand their operations in the country.

Underlying macroeconomic factors: The growth of the VR Software market in Bangladesh is also influenced by macroeconomic factors. The country has been experiencing steady economic growth, which has resulted in an increase in disposable income and consumer spending. This has allowed more individuals to afford VR technology and software, driving the demand for VR software products and services. Furthermore, the increasing internet penetration in Bangladesh has made it easier for consumers to access and download VR software, further fueling market growth. In conclusion, the VR Software market in Bangladesh is witnessing significant growth and development due to customer preferences for immersive experiences, the increasing demand for VR gaming software, and the adoption of VR technology in the education sector. The country's favorable environment for technology development and the underlying macroeconomic factors, such as economic growth and increasing internet penetration, are also contributing to the market's expansion. As a result, the VR Software market in Bangladesh is expected to continue its upward trajectory in the coming years.

Data coverage:

The data encompasses B2C enterprises. Figures are based on VR software revenue, which includes revenues from video games and VR videos consumed via stand-alone or tethered units.

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:

F2The 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).

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Virtual reality (VR) is a simulated experience similar to or completely different from the real world. VR aims to create a sensory experience for the user, sometimes including sight, touch, hearing, smell, or even taste. The industry is growing at a fast pace, with the global VR market size projected to increase from less than 12 billion U.S. dollars in 2022 to more than 22 billion U.S. dollars by 2025. Both the enterprise and consumer segments, including the increased development of the VR gaming industry, are expected to profit from the forecast growth.