Metaverse AR & VR Hardware - Belgium

The projected value in the Metaverse AR & VR Hardware market in 2024 is estimated to reach US$6.1m .
It is anticipated that the market will experience an annual growth rate (CAGR 2024-2030) of 11.93%, resulting in a projected market volume of US$12.0m by 2030.
In 2024, the market volume is projected to reach US$405.0m , with the majority of value being generated United States.
In terms of user numbers, it is expected that the Metaverse AR & VR Hardware market will have approximately 116.4k users users by 2030.
The user penetration rate is predicted to be 0.5% in 2024 and is expected to increase to 1.0% by 2030.
The average value per user (ARPU) is estimated to be US$95.3 .
in Belgium, a country known for its rich history and cultural heritage, is also a part of the Metaverse AR & VR Hardware market.
Belgium's Metaverse AR & VR Hardware market is experiencing a surge in demand due to the country's tech-savvy population and growing interest in immersive experiences.

Definition:

The AR (augmented reality) and VR (virtual reality) market refers to the physical devices used to access and interact with virtual reality environments, including both augmented and virtual worlds. As discussed here, this market includes headsets and/or glasses for AR and VR devices.

Structure:

AR & VR Hardware includes two markets, namely AR Hardware and VR Hardware. AR Hardware refers to headsets or glasses that are used to create augmented reality inferences between the real and virtual world. VR Hardware mainly refers to headsets that aim to create a virtual world for consumers.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes are generated through consumer spending on hardware such as headsets and glasses. Data shows both online and offline market sizes. Market numbers for VR headsets are also featured in the Consumer Market Insights, namely in the Gaming Equipment market of the Consumer Electronics market and the AR & VR Hardware market in the Advertising & Media Insights. Key players in the market include companies such as Meta (Oculus VR), Microsoft (HoloLens), and Playstation VR.

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Augmented Reality Glasses used for metaverse experience, such as HoloLens
Virutal Reality headsets used for metaverse experience, such as Oculus Quest

Augmented Reality Glasses used for non metaverse experience, such as HoloLens
Virutal Reality headsets used for non metaverse experience, such as Oculus Quest
Non-electronic devices, such as mobile phone equipment

The Metaverse AR & VR Hardware market in Belgium is experiencing steady growth due to increasing customer preferences for immersive and interactive experiences, as well as the emergence of local special circumstances that promote the adoption of augmented reality (AR) and virtual reality (VR) technologies.

Customer preferences: Belgian consumers are increasingly seeking immersive and interactive experiences, which has led to a growing demand for AR and VR hardware. The ability to explore virtual worlds, interact with digital content, and experience virtual simulations has captivated the interest of both individuals and businesses in Belgium. Moreover, the younger generation, which is more tech-savvy and open to new technologies, is driving the demand for AR and VR hardware.

Trends in the market: One of the key trends in the Metaverse AR & VR Hardware market in Belgium is the integration of AR and VR technologies into various industries. Businesses across sectors such as healthcare, real estate, education, and entertainment are leveraging AR and VR hardware to enhance their operations and provide unique experiences to their customers. For example, healthcare professionals are using AR headsets to visualize medical data and assist in surgical procedures, while real estate agents are utilizing VR headsets to offer virtual property tours. Another trend in the market is the development of more advanced and user-friendly AR and VR hardware. Manufacturers are continuously innovating to improve the quality, comfort, and affordability of AR and VR devices. This includes advancements in display resolution, tracking accuracy, and ergonomic design. As a result, consumers in Belgium have access to a wider range of AR and VR hardware options that cater to their specific needs and preferences.

Local special circumstances: Belgium has a strong technology infrastructure and a supportive business environment, which has contributed to the growth of the Metaverse AR & VR Hardware market. The country is home to several technology companies and research institutions that are actively involved in the development and application of AR and VR technologies. Additionally, the government has introduced initiatives to promote digital innovation and entrepreneurship, providing a conducive environment for the adoption of AR and VR hardware.

Underlying macroeconomic factors: The growth of the Metaverse AR & VR Hardware market in Belgium is also influenced by underlying macroeconomic factors. The country has a stable economy and a high level of disposable income, which enables consumers to invest in AR and VR hardware. Moreover, the increasing digitalization of various industries and the rise of remote work and virtual events have further accelerated the demand for AR and VR technologies. In conclusion, the Metaverse AR & VR Hardware market in Belgium is witnessing growth driven by customer preferences for immersive experiences, the integration of AR and VR technologies across industries, local special circumstances that support digital innovation, and underlying macroeconomic factors such as a stable economy and increasing digitalization. As the market continues to evolve, manufacturers are expected to focus on enhancing the quality and accessibility of AR and VR hardware to meet the growing demand in Belgium.

Data coverage:

Figures are based on in-app spending, consumer spending, online and offline sales, and data from the AR & VR market in the AMI.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.

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

Regarded as the next iteration of the internet, the metaverse is where the physical and digital worlds come together. As an evolution of social technologies, the metaverse allows digital representations of people, avatars, to interact with each other in a variety of settings. Whether it be at work, in an office, going to concerts or sports events, or even trying on clothes, the metaverse provides a space for endless, interconnected virtual communities using virtual reality (VR) headsets, augmented reality (AR) glasses, smartphone apps, or other devices.