Metaverse AR & VR Hardware - Thailand

By 2024, the value in the Metaverse AR & VR Hardware market is projected to reach US$9.8m.
This market is expected to demonstrate an annual growth rate (CAGR 2024-2030) of 13.24%, resulting in a projected market volume of US$20.7m by 2030.
It is worth noting that United States generates the majority of this market's value, with a projected market volume of US$405.0m in 2024.
In terms of user numbers, the Metaverse AR & VR Hardware market is expected to have approximately 235.0k users users by 2030.
The user penetration rate is projected to be 0.2% in 2024 and is expected to increase to 0.3% by 2030.
Furthermore, the average value per user (ARPU) is expected to be US$75.1.
This information specifically pertains to the country in Thailand.
Thailand's Metaverse AR & VR Hardware market is experiencing a surge in demand due to the country's growing 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 Thailand is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Thailand are driving the demand for Metaverse AR & VR Hardware.

Thai consumers are increasingly seeking immersive and interactive experiences, and AR & VR technologies provide them with the opportunity to explore virtual worlds and engage with digital content in a more realistic and engaging way. Additionally, the younger generation in Thailand is particularly drawn to AR & VR technologies, as they are more tech-savvy and open to adopting new innovations. Trends in the market are also contributing to the growth of the Metaverse AR & VR Hardware market in Thailand.

The increasing popularity of gaming and entertainment applications, as well as the rising demand for virtual tourism experiences, are driving the adoption of AR & VR technologies. Thai consumers are using AR & VR devices to play immersive games, watch virtual concerts, and explore virtual travel destinations. This trend is expected to continue as more content and applications are developed specifically for the Thai market.

Local special circumstances in Thailand are also playing a role in the development of the Metaverse AR & VR Hardware market. The Thai government has been actively promoting the adoption of digital technologies and innovation as part of its Thailand 4. 0 initiative.

This initiative aims to transform Thailand into a digital economy and encourage the development of emerging technologies, including AR & VR. The government's support and investment in the digital sector are creating a favorable environment for the growth of the Metaverse AR & VR Hardware market in Thailand. Underlying macroeconomic factors are also driving the development of the Metaverse AR & VR Hardware market in Thailand.

The country's strong economic growth and increasing disposable income levels are enabling more Thai consumers to afford AR & VR devices. Additionally, the growing smartphone penetration in Thailand provides a platform for AR & VR experiences, as many AR & VR applications can be accessed through mobile devices. These factors are contributing to the expansion of the Metaverse AR & VR Hardware market in Thailand.

In conclusion, the Metaverse AR & VR Hardware market in Thailand is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for immersive and interactive experiences, the popularity of gaming and entertainment applications, the government's support for digital innovation, and the country's strong economic growth are all contributing to the expansion of the Metaverse AR & VR Hardware market in Thailand.

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.