VR Software - Chile | Statista Market Forecast

Revenue in the VR Software market market in Chile is projected to reach US$15.5m in 2024.
Revenue in this market is expected to show an annual growth rate (CAGR 2024-2029) of 8.96%, resulting in a projected market volume of US$23.9m by 2029.
Although most revenue in the global VR Software market market is generated the United States, Chile's market is also expanding.
In the VR Software market market withChile, the number of users is expected to amount to 799.5k users by 2029.
User penetration in Chile will be 3.4% in 2024 and is expected to hit 4.0% by 2029.
The average revenue per user (ARPU) in Chile's VR Software market market is expected to amount to US$23.5.
In Chile, the VR software market is witnessing increased interest from educational institutions seeking innovative tools for enhanced learning 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 Chile is experiencing significant growth and development due to several factors. Customer preferences for immersive and interactive experiences, along with advancements in technology, are driving the demand for VR software in the country.

Additionally, local special circumstances and underlying macroeconomic factors are contributing to the expansion of the market. Customer preferences in Chile are shifting towards more immersive and interactive experiences. With the increasing popularity of virtual reality devices, consumers are seeking software that can provide a realistic and engaging virtual environment.

VR software allows users to explore new worlds, play interactive games, and even participate in virtual training programs. This growing demand for immersive experiences is fueling the growth of the VR software market in Chile. Trends in the market indicate a strong focus on the gaming and entertainment sectors.

The gaming industry in Chile is experiencing rapid growth, with a rising number of gamers and game developers in the country. VR software is being utilized to create immersive gaming experiences, attracting both casual and hardcore gamers. Furthermore, the entertainment industry is also adopting VR technology to enhance live events, movies, and virtual tours.

These trends are driving the development and innovation of VR software in Chile. Local special circumstances in Chile contribute to the growth of the VR software market. The country has a vibrant tech startup ecosystem, with numerous companies focusing on virtual reality development.

These startups are driving innovation and competition in the VR software market, leading to the creation of high-quality and diverse VR software solutions. Additionally, Chile has a young and tech-savvy population that is open to adopting new technologies, further fueling the demand for VR software. Underlying macroeconomic factors also play a role in the development of the VR software market in Chile.

The country has a stable economy and a growing middle class, which has increased disposable income and purchasing power. As a result, more consumers are able to afford VR devices and software, leading to increased demand. Furthermore, the government of Chile has been supportive of the technology sector, providing incentives and funding for startups and innovation.

These favorable conditions contribute to the growth and expansion of the VR software market in Chile. In conclusion, the VR Software market in Chile is experiencing significant growth and development due to customer preferences for immersive experiences, trends in the gaming and entertainment sectors, local special circumstances, and underlying macroeconomic factors. As the demand for immersive and interactive experiences continues to rise, the VR software market in Chile is expected to further expand 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.