VR Software - Ukraine | Statista Market Forecast

In Ukraine, revenue in the VR Software market market is projected to reach US$1.4m in 2024.
Revenue in this market is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 24.53%, leading to a projected market volume of US$4.3m by 2029.
While most revenue is generated the United States, the VR Software market market in Ukraine is also anticipated to contribute significantly, with a projected market volume of US$990.3m in 2024.
By 2029, the number of users in Ukraine's VR Software market market is expected to amount to 130.7k users.
User penetration is set to be 0.2% in 2024 and is projected to rise to 0.3% by 2029.
Furthermore, the average revenue per user (ARPU) in Ukraine is expected to amount to US$15.8.
Ukraine is witnessing a surge in VR software development, driven by a growing tech-savvy workforce and increasing demand for immersive educational and gaming 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 Ukraine is experiencing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Ukraine are increasingly shifting towards immersive and interactive experiences, which has led to a growing demand for VR software.

Consumers are looking for unique and engaging content that allows them to explore virtual worlds and interact with digital environments. This shift in preferences is fueled by advancements in technology and the increasing availability of VR devices, making it more accessible to a wider audience. Trends in the market indicate that VR software is being adopted across various industries in Ukraine.

The gaming industry, in particular, is a major driver of the VR software market, as developers are creating immersive gaming experiences that attract a large user base. Additionally, industries such as education, healthcare, and real estate are also leveraging VR software to enhance learning, training, and visualization experiences. This trend is expected to continue as more businesses recognize the potential of VR technology in improving their operations and engaging with customers.

Local special circumstances in Ukraine contribute to the development of the VR software market. The country has a strong IT sector and a growing community of software developers, which fosters innovation and the creation of VR software solutions. Additionally, Ukraine has a relatively low cost of living and a highly skilled workforce, making it an attractive destination for outsourcing VR software development.

This has led to the emergence of local VR software companies and the establishment of partnerships with international firms, further fueling the growth of the market. Underlying macroeconomic factors also play a role in the development of the VR software market in Ukraine. The country has been experiencing steady economic growth, which has increased consumer spending power and willingness to invest in new technologies.

Additionally, government initiatives and support for the IT sector have created a favorable environment for the growth of VR software companies. These factors contribute to the overall positive outlook for the VR software market in Ukraine. In conclusion, the VR Software market in Ukraine is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

As the demand for immersive and interactive experiences continues to grow, the market is expected to expand further, creating opportunities for both local and international VR software companies.

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.