VR Software - CIS | Statista Market Forecast

Revenue in the VR Software market market within the CIS is projected to reach US$63.3m in 2024.
Revenue in this region is expected to exhibit an annual growth rate (CAGR 2024-2029) of 9.50%, leading to a projected market volume of US$99.7m by 2029.
Although most revenue is generated the United States, the market in the CIS is also showing significant growth potential.
In the VR Software market market, the number of users in the CIS is expected to amount to 3.3m users by 2029.
User penetration in the CIS will be 1.9% in 2024 and is anticipated to increase to 2.3% by 2029.
The average revenue per user (ARPU) in the CIS is expected to amount to US$23.3.
In the CIS region, the VR software market is witnessing increasing investment driven by growing demand for immersive experiences across various sectors, particularly education and entertainment.

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 CIS is experiencing significant growth and development, driven by several key factors. Customer preferences in the VR Software market are shifting towards more immersive and interactive experiences.

Consumers are increasingly seeking out virtual reality applications that provide a realistic and engaging experience. This trend is fueled by the growing popularity of gaming and entertainment applications, as well as the increasing adoption of VR technology in industries such as healthcare, education, and architecture. As a result, there is a rising demand for high-quality VR software that can deliver these immersive experiences.

Trends in the VR Software market in CIS are also influenced by global and regional market dynamics. The increasing availability and affordability of VR hardware, such as headsets and controllers, have made virtual reality more accessible to a wider audience. This has led to a greater demand for VR software that can leverage these hardware advancements and provide users with a seamless and enjoyable experience.

Additionally, the growing popularity of social VR platforms and collaborative virtual environments is driving the development of VR software that enables users to interact and communicate with others in virtual spaces. Local special circumstances in the CIS region also play a role in the development of the VR Software market. The region has a strong technology and gaming culture, with a growing number of tech-savvy consumers and developers.

This has created a fertile ground for the development of innovative VR software solutions that cater to the specific needs and preferences of the local market. Additionally, the region's large population and diverse demographics provide a significant market opportunity for VR software developers to target different customer segments and industries. Underlying macroeconomic factors, such as the increasing disposable income and improving infrastructure in the CIS region, are also contributing to the growth of the VR Software market.

As more consumers have the means to invest in VR hardware and software, the demand for immersive virtual reality experiences is expected to continue to rise. Furthermore, the development of high-speed internet connections and the expansion of mobile networks are enabling users to access VR content more easily, further driving the demand for VR software. In conclusion, the VR Software market in CIS is experiencing rapid growth and development, driven by evolving customer preferences, global and regional market trends, local special circumstances, and underlying macroeconomic factors.

As the technology continues to advance and become more accessible, the demand for high-quality VR software is expected to continue to grow, creating new opportunities for developers and businesses in the region.

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.