Metaverse AR & VR Hardware - Mexico

The Metaverse AR & VR Hardware market in Mexico is projected to reach a value of US$25.5m in 2024.
This market segment is expected to show an annual growth rate (CAGR 2024-2030) of 14.21%, resulting in a projected market volume of US$56.5m by 2030.
Mexico is a significant player in the Metaverse AR & VR Hardware market, with a projected market volume of US$405.0m in 2024.
However, it is important to note that United States generates the highest value in this market segment.
In terms of user base, the number of users in Mexico's Metaverse AR & VR Hardware market is expected to reach 728.3k users by 2030.
The user penetration rate, which is currently 0.3% in 2024, is projected to increase to 0.5% by 2030.
The average value per user (ARPU) in Mexico's Metaverse AR & VR Hardware market is expected to amount to US$67.8.
Mexico is experiencing a growing demand for Metaverse AR & VR hardware, driven by a tech-savvy population and increasing investments in the gaming and entertainment industry.

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 Mexico is experiencing significant growth and development, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Mexico are playing a crucial role in shaping the growth of the Metaverse AR & VR Hardware market.

Mexican consumers are increasingly seeking immersive and interactive experiences, which is driving the demand for AR and VR technologies. The desire for more realistic gaming experiences, virtual travel, and virtual social interactions are some of the key factors driving the adoption of AR and VR hardware in the country. Trends in the market are also contributing to the growth of the Metaverse AR & VR Hardware market in Mexico.

One of the notable trends is the increasing popularity of virtual reality gaming. Mexican gamers are embracing VR technology as a way to enhance their gaming experiences and immerse themselves in virtual worlds. This trend is driving the demand for VR headsets and other hardware accessories.

Another trend in the market is the integration of AR and VR technologies into various industries. Companies in sectors such as education, healthcare, and real estate are leveraging AR and VR to enhance their services and improve customer experiences. This trend is creating new opportunities for the Metaverse AR & VR Hardware market in Mexico, as businesses invest in AR and VR devices to stay competitive and meet the evolving needs of their customers.

Local special circumstances also contribute to the development of the Metaverse AR & VR Hardware market in Mexico. The country has a young and tech-savvy population, which is more open to adopting new technologies. Additionally, the growing middle class and increasing disposable income levels are enabling more Mexican consumers to afford AR and VR hardware.

These factors create a favorable environment for the growth of the Metaverse AR & VR Hardware market in Mexico. Underlying macroeconomic factors also play a role in the development of the market. Mexico has been experiencing steady economic growth, which has contributed to the overall increase in consumer spending.

As the economy continues to expand, more consumers are likely to invest in AR and VR hardware, further driving the growth of the market. In conclusion, the Metaverse AR & VR Hardware market in Mexico is growing and developing due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The increasing demand for immersive experiences, the popularity of virtual reality gaming, the integration of AR and VR technologies in various industries, the young and tech-savvy population, and the steady economic growth are all contributing to the growth of the market in Mexico.

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.