VR Software - Taiwan | Statista Market Forecast

In Taiwan, revenue in the VR Software market market is projected to reach US$43.8m in 2024.
The revenue in this market is expected to show an annual growth rate (CAGR 2024-2029) of 8.51%, resulting in a projected market volume of US$65.9m by 2029.
While the United States generates most revenue with a projected market volume of US$990.3m in 2024, Taiwan's VR Software market market is also poised for growth.
In this market, the number of users in Taiwan is expected to amount to 2.2m users by 2029.
User penetration will be 7.8% in 2024 and is expected to hit 9.2% by 2029 in Taiwan.
The average revenue per user (ARPU) in this market is expected to amount to US$23.4.
Taiwan is witnessing a surge in VR software innovation, driven by its robust tech ecosystem and increasing investments in immersive experiences across industries.

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 Taiwan is experiencing steady growth and development, driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Taiwan are playing a significant role in the growth of the VR Software market.

Taiwanese consumers are increasingly interested in immersive experiences and virtual reality technology. They are seeking innovative ways to engage with content and are willing to invest in VR software that provides a unique and interactive experience. This demand is driving the development of VR software applications across various industries, including gaming, entertainment, education, and healthcare.

Trends in the market are also contributing to the growth of the VR Software market in Taiwan. The increasing popularity of VR gaming is a major trend in the market, as Taiwanese consumers are embracing virtual reality as a new form of entertainment. The gaming industry is investing heavily in VR software development, creating a wide range of virtual reality games and experiences to cater to the growing demand.

Additionally, the use of VR technology in education and training is on the rise, with schools and businesses adopting VR software to enhance learning and skill development. Local special circumstances in Taiwan are also driving the growth of the VR Software market. Taiwan has a strong technology industry and is known for its manufacturing capabilities.

This has created a favorable environment for VR software development, with local companies and startups emerging in the market. The government has also recognized the potential of virtual reality technology and has been supportive of initiatives and investments in the VR Software sector. This support has further fueled the growth and development of the market in Taiwan.

Underlying macroeconomic factors are also contributing to the growth of the VR Software market in Taiwan. The country has a strong and stable economy, which provides a conducive environment for businesses to thrive. The increasing disposable income of Taiwanese consumers allows them to invest in VR software and related hardware, driving the demand for virtual reality experiences.

Additionally, the growing tourism industry in Taiwan attracts visitors who are interested in experiencing VR technology, leading to increased demand for VR software applications. In conclusion, the VR Software market in Taiwan is experiencing growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Taiwanese consumers' interest in immersive experiences, the popularity of VR gaming, local technology expertise, government support, and a strong economy are all contributing to the expansion of the VR Software market in Taiwan.

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).

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

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.