Metaverse AR & VR Hardware - CIS | Statista Market Forecast

The Metaverse AR & VR Hardware market is anticipated to reach a value of US$20.8m in 2024.
This market is expected to exhibit an annual growth rate (CAGR 2024-2030) of 12.49%, resulting in a projected market volume of US$42.1m by 2030.
The United States is the leading country in terms of market volume, projected to reach US$405.0m in 2024.
Looking ahead, the number of users in the Metaverse AR & VR Hardware market is expected to reach 446.4k users by 2030.
The user penetration rate is projected to increase from 0.2% in 2024 to 0.3% by 2030.
Furthermore, the average value per user (ARPU) is forecasted to be US$85.8.
The CIS market for Metaverse AR & VR hardware is experiencing a surge in demand driven by the region's tech-savvy population.

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 CIS has been experiencing steady growth in recent years, driven by customer preferences for immersive and interactive experiences, as well as advancements in technology. Customer preferences in the Metaverse AR & VR Hardware market in CIS are primarily focused on the desire for immersive and interactive experiences.

Consumers in the region are increasingly seeking out virtual reality and augmented reality hardware that can transport them to new worlds and enhance their everyday lives. This preference is driven by the growing popularity of gaming and entertainment applications, as well as the increasing adoption of virtual meetings and remote collaboration tools. Trends in the market reflect the growing demand for Metaverse AR & VR Hardware in CIS.

One major trend is the increasing availability and affordability of VR headsets and AR glasses. As technology continues to improve and production costs decrease, more consumers in the region are able to access these devices. This has led to a rise in the number of VR gaming enthusiasts and AR enthusiasts in CIS, driving the overall market growth.

Another trend in the market is the integration of Metaverse AR & VR Hardware with other emerging technologies, such as artificial intelligence and 5G. This integration allows for more seamless and realistic virtual experiences, enhancing the overall user experience. For example, AI-powered virtual assistants can provide personalized recommendations and guidance within virtual environments, while 5G connectivity enables faster and more reliable data transmission, reducing latency and improving the quality of VR and AR experiences.

Local special circumstances in CIS also contribute to the development of the Metaverse AR & VR Hardware market. The region has a strong gaming culture, with a large population of avid gamers. This has created a fertile ground for the adoption of VR gaming devices and accessories.

Additionally, CIS has a growing tech-savvy population, with a high level of interest in new and innovative technologies. This has created a favorable environment for the growth of the Metaverse AR & VR Hardware market, as consumers are eager to explore the possibilities offered by these emerging technologies. Underlying macroeconomic factors also play a role in the development of the Metaverse AR & VR Hardware market in CIS.

The region has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending power. This, in turn, has fueled the demand for entertainment and leisure products, including Metaverse AR & VR Hardware. Additionally, the government in some CIS countries has been supportive of the tech industry, providing incentives and funding for research and development in the field of virtual reality and augmented reality.

This has further spurred the growth of the market. In conclusion, the Metaverse AR & VR Hardware market in CIS is developing at a steady pace, driven by customer preferences for immersive and interactive experiences, advancements in technology, local special circumstances, and underlying macroeconomic factors. As the market continues to grow, we can expect to see further innovations and advancements in Metaverse AR & VR Hardware, as well as increased adoption by consumers in the region.

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.