Metaverse AR & VR Hardware - South America

The value of the Metaverse AR & VR Hardware market in South America is projected to reach US$56.4m by 2024.
This market segment is expected to demonstrate an annual growth rate (CAGR 2024-2030) of 13.07%, resulting in a projected market volume of US$117.8m by 2030.
In 2024, United States is the leading generator of value in the Metaverse AR & VR Hardware market, with a projected market volume of US$405.0m.
Looking at the number of users, it is estimated that by 2030, there will be approximately 1.2m users users in South America in this market segment.
The user penetration rate is expected to be 0.2% in 2024 and is projected to increase to 0.3% by 2030.
Furthermore, the average value per user (ARPU) is anticipated to be US$85.8.
South America is experiencing a surge in demand for Metaverse AR & VR hardware, with Brazil leading the way as the largest consumer market in the region.

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 South America is experiencing significant growth and development.

Customer preferences: South American customers are increasingly embracing the use of AR and VR technologies in various industries such as gaming, entertainment, education, and healthcare. The immersive experiences provided by AR and VR hardware have captured the interest and attention of consumers, driving demand for these devices. Additionally, there is a growing trend of using AR and VR for virtual tourism, allowing individuals to explore different destinations without physically traveling.

Trends in the market: One of the key trends in the South American Metaverse AR & VR Hardware market is the increasing adoption of virtual reality headsets. These headsets offer a fully immersive experience, transporting users to virtual worlds and enhancing their gaming and entertainment experiences. The demand for high-quality VR headsets with advanced features is rising, leading to the introduction of new and improved models in the market. Another trend in the market is the integration of augmented reality into everyday life. South American consumers are showing interest in AR devices that overlay digital information onto the real world, enhancing their perception and interaction with their surroundings. This technology is being utilized in various sectors, such as education, where AR is used to create interactive and engaging learning experiences.

Local special circumstances: South America has a large and diverse population, with different countries and regions having their own unique cultural preferences and needs. This diversity creates opportunities for companies to tailor their AR and VR hardware offerings to specific local markets. For example, gaming is a popular form of entertainment in South America, and companies can develop gaming-focused AR and VR devices to cater to this specific customer segment.

Underlying macroeconomic factors: The economic growth and increasing disposable income in South America are contributing to the development of the Metaverse AR & VR Hardware market. As more consumers have the financial means to invest in AR and VR devices, the demand for these products is expected to continue growing. Additionally, advancements in technology and infrastructure are making AR and VR more accessible to a wider audience, further fueling market growth. In conclusion, the Metaverse AR & VR Hardware market in South America is witnessing significant growth and development. Customer preferences for immersive experiences and the integration of AR and VR into various industries are driving the demand for these devices. The local special circumstances of diverse cultural preferences and the presence of a strong gaming market create opportunities for companies to cater to specific customer segments. The underlying macroeconomic factors, such as economic growth and increasing disposable income, are further fueling the market's expansion.

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.