Metaverse AR & VR Hardware - Chile

The projected value in the Metaverse AR & VR Hardware market for the year 2024 is estimated to reach US$5.3m.
It is anticipated that this value will experience an annual growth rate (CAGR 2024-2030) of 12.73%, leading to a projected market volume of US$10.9m by the year 2030.
In 2024, the projected market volume is expected to be US$405.0m, with United States generating the majority of this value.
Within the Metaverse AR & VR Hardware market, the number of users is predicted to reach 113.5k users by the year 2030.
The user penetration rate is estimated to be 0.3% in 2024 and is projected to increase to 0.6% by 2030.
Furthermore, the average value per user (ARPU) is anticipated to be US$85.7.
It is worth noting that these figures are specific to the market segment of Metaverse AR & VR Hardware market.
Additionally, this information pertains to the country of Chile.
Chile is witnessing a growing demand for Metaverse AR & VR hardware, driven by the country's tech-savvy population and increasing adoption of immersive technologies.

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 Chile has been experiencing significant growth in recent years. Customer preferences for immersive and interactive experiences, coupled with advancements in technology, have contributed to the increasing demand for AR and VR hardware in the country.

Customer preferences: Chilean customers are increasingly seeking immersive and interactive experiences, which has fueled the demand for AR and VR hardware. The ability to explore virtual worlds, play games, and engage in virtual training programs has attracted a wide range of consumers, including gamers, businesses, and educational institutions. Additionally, the growing popularity of social VR platforms has created a desire for more advanced hardware that can provide a more realistic and engaging experience.

Trends in the market: One of the key trends in the Metaverse AR & VR Hardware market in Chile is the adoption of VR headsets for gaming purposes. Gaming enthusiasts are investing in high-quality VR headsets to enhance their gaming experiences and immerse themselves in virtual worlds. This trend is expected to continue as the gaming industry in Chile continues to expand. Another trend in the market is the increasing use of AR and VR hardware in the education sector. Educational institutions in Chile are recognizing the potential of AR and VR technology to enhance learning experiences and engage students in a more interactive manner. VR headsets are being used to create virtual field trips, simulations, and interactive lessons, providing students with a unique and immersive learning environment.

Local special circumstances: Chile's strong gaming culture and the presence of a vibrant tech industry have contributed to the growth of the Metaverse AR & VR Hardware market. The country has a large population of gamers who are willing to invest in high-quality hardware to enhance their gaming experiences. Additionally, Chile has a growing number of tech startups and companies focusing on AR and VR technology, which has led to the development of innovative hardware solutions tailored to the local market.

Underlying macroeconomic factors: Chile's stable economy and increasing disposable income have played a significant role in the growth of the Metaverse AR & VR Hardware market. As more consumers have the financial means to invest in AR and VR hardware, the demand for these products has increased. Additionally, the government's support for the tech industry and initiatives to promote digital innovation have created a favorable environment for the growth of the market. In conclusion, the Metaverse AR & VR Hardware market in Chile is experiencing significant growth due to customer preferences for immersive experiences, the adoption of VR headsets in gaming, the use of AR and VR technology in education, Chile's strong gaming culture and tech industry, and the country's stable economy and increasing disposable income. These factors are driving the demand for AR and VR hardware and are expected to continue fueling the market's growth in the coming years.

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.