AR & VR - Czechia

Czechia

Revenue in the AR & VR market market in Czechia is projected to reach €117.8m in 2024.
Revenue in this market is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 9.08%, leading to a projected market volume of €181.9m by 2029.
The largest market within this market is AR Software, which will have a market volume of €38.1m in 2024.
Most of the revenue is generated the United States, with a projected market volume of €10,000.0m in 2024.
In the AR & VR market market, the number of users in Czechia is expected to reach 6,451.0k users by 2029.
User penetration is anticipated to be 59.2% in 2024 and is projected to increase to 61.3% by 2029.
The average revenue per user (ARPU) in Czechia is expected to amount to €18.9.
Czechia is increasingly embracing AR and VR technologies, particularly in education and gaming, reflecting a growing interest in innovative digital experiences.

Definition:

Augmented reality (AR) and virtual reality (VR) make it possible to combine the real and virtual worlds. AR is generally accessed via mobile phones and primarily relies on lenses. AR effects can be created by using lenses in social media apps, for example. AR is also used for displaying digital 3D objects in our surroundings, e.g., in gaming or eCommerce apps. Meanwhile, VR technology allows users to dive into the virtual world, and, unlike AR technology, it requires a headset device which enables the creation of virtual worlds.

Structure:

The AR & VR market consists of six different markets: AR Advertising, AR Hardware, AR Software, VR Advertising, VR Hardware, and VR Software. AR Advertising covers mobile advertising that is displayed in the most prominent social media apps. AR Hardware comprises AR headsets and glasses. AR Software is divided into three different application types, namely social media, gaming, and eCommerce applications, which can be accessed via the most prominent app stores. VR Advertising covers in-game advertising as well as advertising in VR videos. VR Hardware comprises both tethered head-mounted displays (HMDs) and stand-alone HMD headsets. Lastly, VR Software covers VR games and VR videos, which require headsets.

Additional information:

The market comprises revenues, users, average revenue per user, and penetration rates. Revenues are generated through in-app purchases, advertising spending, and consumer spending on apps, games, and hardware such as headsets or glasses. Sales channel data shows both online and offline revenues, which include VAT. The market only displays B2C revenues and users for the above-mentioned markets and markets; B2B and B2G revenues are not included. Additional definitions for each market can be found on the respective market pages.
Market numbers for VR headsets are also featured in the Consumer Market Insights, namely in the Gaming Equipment market of the Consumer Electronics market. Unlike the VR Hardware market in the Advertising & Media Outlook, the Gaming Equipment market also covers smartphone VR devices.
Key players in the market include companies such as Meta (Oculus VR), Microsoft (HoloLens), Snap Inc. with different lenses, and Nvidia, which offers computing hardware components.
For more information on the data displayed, use the info button right next to the boxes.

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Analyst Opinion

The AR & VR market in Czechia has been experiencing significant growth in recent years, driven by customer preferences for immersive experiences and advancements in technology.

Customer preferences: Customers in Czechia have shown a growing interest in AR & VR technologies, seeking out immersive experiences in various industries such as gaming, entertainment, tourism, and education. The demand for virtual reality headsets, augmented reality applications, and interactive VR experiences has been on the rise, as consumers look for more engaging and interactive ways to experience content. Additionally, the younger demographic in Czechia has been particularly receptive to AR & VR technologies, driving the market further.

Trends in the market: One of the key trends in the AR & VR market in Czechia is the integration of these technologies into various industries. For example, in the gaming industry, virtual reality headsets have gained popularity, offering gamers a more immersive and realistic gaming experience. In the entertainment sector, AR & VR technologies have been used to create interactive and engaging experiences, such as virtual tours of historical sites or virtual concerts. Furthermore, the education sector has also embraced AR & VR technologies, using them to enhance learning experiences and provide students with virtual field trips and simulations. Another trend in the market is the increasing adoption of AR & VR technologies by businesses for training purposes. Companies in Czechia are recognizing the benefits of using virtual reality simulations to train employees in various fields, such as healthcare, manufacturing, and aviation. These simulations provide a safe and controlled environment for employees to practice and improve their skills, leading to more efficient training processes and cost savings for businesses.

Local special circumstances: Czechia has a strong technology sector and a well-educated workforce, which has contributed to the growth of the AR & VR market. The country has a vibrant startup ecosystem, with many innovative companies focusing on AR & VR technologies. This has led to the development of a wide range of AR & VR applications and solutions tailored to the local market.

Underlying macroeconomic factors: The growth of the AR & VR market in Czechia is also influenced by macroeconomic factors such as increasing disposable income and a favorable business environment. As the economy continues to grow, consumers have more discretionary income to spend on entertainment and leisure activities, including AR & VR experiences. Additionally, the business-friendly environment in Czechia has attracted foreign investments and encouraged the development of the technology sector, creating opportunities for AR & VR companies to thrive. In conclusion, the AR & VR market in Czechia is experiencing significant growth due to customer preferences for immersive experiences, integration of AR & VR technologies in various industries, a strong technology sector, and favorable macroeconomic factors. The market is expected to continue expanding as technology advancements and consumer demand drive further innovation in the AR & VR industry.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the AR & VR market. AR and VR enable consumers to experience a new dimension, using either a headset or installed units, as they combine the real and virtual worlds. Consumer revenue figures refer to revenues relating to AR hardware, AR software, VR hardware, VR software, and spending on AR and VR advertising. Both digital and non-digital revenues are included.

Modeling approach / Market size:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, as well as third-party studies and reports. In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending, internet penetration, 4G coverage, and historical developments. This data helps us 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 relevant market. For example, 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 market is updated twice a year in case market dynamics change. The data is modeled using current exchange rates. 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).