Market Insights Advertising & Media AR & VR

VR Advertising - Benelux

Benelux

In the context of Benelux, revenue in the VR Advertising market market is anticipated to hit €2.6m in 2024.
The revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 1.21%, leading to an estimated market volume of €2.8m by 2029.
While the projected market volume for 2024 stands at €43.5m, it is important to note that the majority of revenue is generated the United States.
In the Benelux region, VR advertising is increasingly being embraced by brands seeking innovative ways to enhance consumer engagement and brand storytelling.

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Analyst Opinion

The VR Advertising market in Benelux is experiencing significant growth and development, driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Benelux region are playing a crucial role in the growth of the VR Advertising market.

Consumers in this region are increasingly seeking immersive and interactive experiences, and virtual reality offers a unique opportunity to engage with them in a more personal and memorable way. VR Advertising allows brands to create virtual environments that can transport consumers to different locations, showcase products in a realistic manner, and provide interactive storytelling experiences. This aligns with the preferences of the tech-savvy and digitally engaged population in Benelux.

Trends in the market further contribute to the growth of VR Advertising in Benelux. The increasing availability and affordability of VR headsets and devices have made it more accessible to a wider audience. This has led to a growing demand for VR content, including advertising, as consumers are eager to explore new and immersive experiences.

Additionally, advancements in technology have improved the quality of VR content and made it more engaging, enhancing the effectiveness of VR Advertising campaigns. Local special circumstances in the Benelux region also contribute to the development of the VR Advertising market. Benelux countries, Belgium, Netherlands, and Luxembourg, have a strong digital infrastructure and high internet penetration rates, providing a conducive environment for the adoption of VR Advertising.

Furthermore, the region is home to several innovative startups and tech companies that are actively exploring the potential of virtual reality in advertising. This entrepreneurial spirit and technological expertise drive the growth and innovation in the VR Advertising market. Underlying macroeconomic factors also play a role in the development of the VR Advertising market in Benelux.

The region has a stable and prosperous economy, with a high standard of living and disposable income. This enables consumers to invest in VR devices and accessories, creating a market for VR Advertising. Additionally, the advertising industry in Benelux is highly competitive, and brands are constantly looking for new and innovative ways to reach their target audience.

VR Advertising provides a unique opportunity for brands to differentiate themselves and stand out in a crowded market. In conclusion, the VR Advertising market in Benelux is experiencing significant growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The increasing demand for immersive experiences, advancements in technology, strong digital infrastructure, and a competitive advertising industry all contribute to the growth of VR Advertising in the region.

As the market continues to evolve, we can expect further innovation and adoption of VR Advertising in Benelux.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on VR advertising revenue, which includes advertising that is integrated into the virtual world within video games and videos.

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).