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Lu - vi, 9:00 - 18:00 h (EST)

Lu - vi, 9:00 - 17:00 h (SGT)

Lu - vi, 10:00 - 18:00 h (JST)

Lu - vi, 9:30 - 17:00 h (GMT)

Lu - vi, 9:00am-6:00pm (EST)
Market drivers:
Augmented reality and virtual reality have gained a great deal of attention in recent years. Big tech companies have entered the market and consolidated their market position by acquiring several companies operating in the augmented and virtual reality industry. With constantly improving technology and an increasing number of 5G internet connections, the market is set to witness strong growth in the future.Augmented Reality:
Social media apps, such as Snapchat, Instagram, Facebook, and, most recently, TikTok, set a milestone in the use of augmented reality in the consumer sector. Numerous innovations, e.g., new lenses and features, have attracted the attention of consumers and are now indispensable. But it is not only social media apps that have implemented augmented reality; gaming and eCommerce apps have also been able to strengthen their position in the market. With a total of more than 600 million downloads, Pokémon Go, one of the most famous augmented reality apps, reached the pinnacle of AR gaming. Since many gaming apps are following concepts similar to that of Pokémon Go, the market is exhibiting considerable growth. The eCommerce sector, for its part, is still adapting to AR and VR, but it is on its way to carving out a strong market position, with furniture apps such as Ikea Place and Wayfair or makeup apps such as Sephora. AR software is dominating the AR market, while AR hardware is still lagging behind. However, Apple will enter the market with AR glasses, thus competing with HoloLens by Microsoft, the current key player in the market. This is another reason why the AR market is set to witness strong growth in the future.Virtual Reality:
In contrast to augmented reality, virtual reality has been a fairly common technology for quite some time now, with apps such as Google Earth, for instance. Nevertheless, VR technology will continue to advance, and the quality of headsets, stand-alone units in particular, will improve significantly in the future. With its VR headset, Meta Quest, Meta is dominating the market, accounting for more than one third of total unit sales. While there were only rather basic games in the early adoption phase, the market is moving strongly toward more sophisticated games, which require more interaction from consumers.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).Lu - vi, 9:30 - 17:00 h (CET)
Lu - vi, 9:00 - 18:00 h (EST)
Lu - vi, 9:00 - 17:00 h (SGT)
Lu - vi, 10:00 - 18:00 h (JST)
Lu - vi, 9:30 - 17:00 h (GMT)
Lu - vi, 9:00am-6:00pm (EST)