Market Insights Advertising & Media AR & VR

VR Software - Italy

Italy

In Italy, revenue in the VR Software market market is projected to reach €87.6m in 2024.
The revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 7.65%, which would lead to a projected market volume of €126.7m by 2029.
Although the United States generates the most revenue with a projected market volume of €908.8m in 2024, in Italy is anticipated to see significant growth in this sector.
In the VR Software market market, the number of users in Italy is expected to amount to 4.8m users by 2029.
User penetration in Italy will be 6.9% in 2024, and it is expected to rise to 8.3% by 2029.
The average revenue per user (ARPU) in Italy is expected to amount to €21.6.
In Italy, the VR software market is increasingly integrating cultural heritage experiences, enhancing tourism and education through immersive digital storytelling.

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Analyst Opinion

The VR Software market in Italy is experiencing significant growth and development.

Customer preferences: Italian customers are increasingly interested in virtual reality technology and software. They are looking for immersive and interactive experiences that can be used in various industries such as gaming, entertainment, education, and healthcare. Customers are also seeking VR software that is user-friendly, offers high-quality graphics and audio, and supports a wide range of devices.

Trends in the market: One of the key trends in the VR Software market in Italy is the increasing adoption of VR technology in the gaming industry. Italian gamers are embracing virtual reality as a new way to enhance their gaming experiences. VR software developers are creating innovative games and applications that provide immersive gameplay and realistic simulations. Another trend in the market is the use of VR software in the education sector. Italian schools and universities are incorporating virtual reality technology into their curriculum to enhance learning experiences. VR software enables students to explore virtual environments and engage in interactive educational activities, making learning more engaging and effective. The healthcare industry in Italy is also embracing VR software for various applications. Virtual reality is being used for medical training, surgical simulations, and therapy sessions. VR software allows healthcare professionals to practice procedures in a safe and controlled environment, reducing the risk of errors and improving patient outcomes.

Local special circumstances: Italy has a strong gaming culture, with a large number of gamers and gaming enthusiasts. This has created a favorable environment for the growth of the VR Software market. Italian game developers and studios are actively creating VR games and experiences, catering to the local market as well as the global audience. Furthermore, Italy is known for its rich history and cultural heritage. VR software developers are leveraging this by creating virtual reality experiences that allow users to explore historical sites, museums, and art galleries. This provides an immersive way for tourists and locals to experience Italy's cultural treasures.

Underlying macroeconomic factors: Italy has a strong technology sector and a growing digital economy. The government has been actively supporting the development of the VR industry through various initiatives and funding programs. This has attracted investment and talent to the VR Software market, driving innovation and growth. Additionally, the COVID-19 pandemic has accelerated the adoption of virtual reality technology. The need for remote work, virtual meetings, and online events has increased the demand for VR software that can facilitate virtual collaboration and communication. This has created new opportunities for VR software developers in Italy. In conclusion, the VR Software market in Italy is experiencing growth and development due to customer preferences for immersive experiences, trends such as gaming and education applications, local special circumstances like the gaming culture and cultural heritage, and underlying macroeconomic factors including government support and the impact of the COVID-19 pandemic.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on VR software revenue, which includes revenues from video games and VR videos consumed via stand-alone or tethered units.

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:

F2The 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).