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AR Hardware - New Zealand

New Zealand

In New Zealand, revenue in the AR Hardware market market is projected to reach €13.9m in 2024.
Revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 13.48%, leading to a projected market volume of €26.1m by 2029.
While the majority of revenue in the AR Hardware market market is generated the United States, in New Zealand is also anticipated to contribute to the overall growth.
The number of users in the AR Hardware market market in New Zealand is expected to reach 338.4k users by 2029.
User penetration in New Zealand will be 2.1% in 2024 and is projected to increase to 6.2% by 2029.
Furthermore, the average revenue per user (ARPU) in New Zealand is expected to amount to €125.3.
In New Zealand, the AR hardware market is increasingly focused on enhancing immersive experiences for education and training, reflecting a growing demand for innovative learning solutions.

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Analyst Opinion

The AR Hardware market in New Zealand is experiencing steady growth and development, driven by customer preferences for immersive and interactive experiences, as well as advancements in technology.

Customer preferences: Customers in New Zealand are increasingly seeking out immersive and interactive experiences, and AR Hardware offers a unique opportunity to fulfill this demand. AR Hardware allows users to overlay digital information onto the real world, creating a blended reality that enhances their overall experience. This appeals to a wide range of customers, including gamers, tourists, and professionals in various industries such as architecture and design.

Trends in the market: One of the key trends in the AR Hardware market in New Zealand is the growing adoption of AR headsets and smart glasses. These devices offer a hands-free AR experience, allowing users to interact with digital content while still being aware of their surroundings. This is particularly appealing to professionals who need to access information or perform tasks while on the go. Additionally, there is a growing trend of using AR Hardware in the tourism industry, where visitors can use AR headsets or smart glasses to enhance their sightseeing experiences by accessing additional information or virtual guides. Another trend in the market is the increasing integration of AR technology into smartphones and tablets. This allows users to experience AR without the need for additional hardware, making it more accessible to a wider audience. Smartphone AR applications are becoming more sophisticated, offering features such as object recognition and 3D mapping, which further enhance the user experience. This trend is expected to continue as smartphone technology continues to advance.

Local special circumstances: New Zealand is known for its natural beauty and outdoor activities, which presents unique opportunities for the AR Hardware market. For example, AR headsets or smart glasses can be used to provide real-time information and navigation assistance to hikers and outdoor enthusiasts. Additionally, the tourism industry in New Zealand is a major driver of the AR Hardware market, as visitors can use AR technology to enhance their experiences at popular tourist destinations.

Underlying macroeconomic factors: The growth of the AR Hardware market in New Zealand is also influenced by underlying macroeconomic factors. The country has a strong economy and a tech-savvy population, which creates a favorable environment for the adoption of AR technology. Additionally, the government of New Zealand has been supportive of the technology sector, providing incentives and funding for research and development in emerging technologies such as AR. This support has helped to foster innovation and drive the growth of the AR Hardware market in the country. In conclusion, the AR Hardware market in New Zealand is experiencing steady growth and development, driven by customer preferences for immersive and interactive experiences, as well as advancements in technology. The adoption of AR headsets and smart glasses, integration of AR technology into smartphones and tablets, and the unique opportunities presented by New Zealand's natural beauty and tourism industry are all contributing to the growth of the market. Additionally, the strong economy and supportive government policies are creating a favorable environment for the AR Hardware market in New Zealand.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on AR hardware revenue, which includes digital spending on hardware (headsets and glasses) that enables consumers to experience augmented reality.

Modeling approach / market size:

The market size is determined through a top-down approach. We use annual financial reports of the market-leading companies and industry associations, as well as third-party studies and reports to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as consumer spending, internet penetration, 4G coverage, and historical developments.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are level of digitalization, adoption of technology, GDP per capita, and internet penetration.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).