Germany Virtual Reality Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Content), By Device Type (Head Mounted Display, VR Simulator, VR Glasses, Treadmills & Haptic Gloves, and Others), By Industry (Gaming, Entertainment, Automotive, Retail, Healthcare, Education, Aerospace & Defense, Manufacturing, and Others), 2023-2030
KEY MARKET INSIGHTS
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Germany virtual reality market size is projected to grow at a CAGR of 33.5% during the forecast period.
Germany has technologically developed telecommunications systems due to intensive investments in infrastructure and innovative solutions in all sectors. In addition, rising investments in automotive and commercial applications are expected to boost the German market throughout the forecast period.
LATEST TRENDS
Increase in Tourism to Surge the Demand for Virtual Reality
Germany virtual reality market growth is due to the presence of various historical monuments and attractive destinations. Germany's most popular tourist cities are Munich, Berlin, Nuremberg, Heidelberg, Frankfurt, Hamburg Cologne, and Rothenburg ob der Tauber. Hence, this technology is used in the tourism and real estate industries to provide virtual tours and interactive experiences for customers, which fuel’s the market demand.
DRIVING FACTORS
Growing Consumer Awareness of the Virtual Reality Technology to Boost the Market
The growing consumer awareness in the virtual reality market in Germany can be witnessed through the increasing popularity of VR headset sales. In recent years, there has been a significant increase in sales as various consumers in Germany are becoming aware of the benefits provided by virtual reality. Further, the rise in sales has been fueled by increased marketing and advertising efforts in the country. Hence, due to the growing consumer awareness, many electronic retailers and online marketplaces in Germany now offer a wide range of VR headsets and accessories, allowing consumers to purchase and experience VR technology easily.
RESTRAINING FACTORS
Limited Distribution Channels to Hamper Market Growth
Germany has limited virtual reality hardware and content distribution channels, making it difficult for consumers to access VR products and services. Further, technical limitations, such as motion sickness, low resolution, and latency, might negatively impact the user experience. The factors mentioned above are expected to slow down the market growth.
KEY INDUSTRY PLAYERS
Holoride, Inflight VR, VRdirect GmbH, and NVIDIA GmbH, among others, are some significant players in the German virtual reality market share. These players are providing enhanced VR products and services to offer an exclusive user experience for consumers. In addition, the aim towards higher investments in these solutions has enabled the companies to provide better virtual reality experiences.
LIST OF KEY COMPANIES PROFILED:
- holoride (Germany)
- Inflight VR (Germany)
- Unity Technologies (U.S.)
- Microsoft Deutschland GmbH (Germany)
- Samsung Electronics GmbH (Germany)
- Qualcomm Technologies, Inc. (U.S.)
- Playsnak (Germany)
- VRdirect GmbH (Germany)
- NVIDIA GmbH (Germany)
- Google LLC (Alphabet Inc.) (U.S.)
KEY INDUSTRY DEVELOPMENTS:
- December 2022 – Meta Platforms Inc. announced that it will again provide virtual reality headsets to German shelves after the company raised issues with the country's antitrust authorities. Further, the company plans to sell the Meta Quest 2 headset in Germany soon.
- April 2022 – Pico Interactive, a provider of enterprise and consumer VR solutions, launched its latest standalone VR headset for gamers and consumers with the release of the Pico Neo 3 Link device. Initially, Pico will provide links to gamers and consumers in European markets such as Germany, Spain, France, and the Netherlands.
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The research on the German market covers essential areas to gain in-depth knowledge of the industry. In addition, the studies provide an overview of the latest market trends and analyze the technologies implemented worldwide. Additionally, it highlights the growth limits and elements, allowing the reader to understand the market.
Report Scope & Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 33.5% from 2023 to 2030 |
Unit | Value (USD Billion) |
Segmentation | By Component
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By Device Type
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By Industry
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Frequently Asked Questions
Growing at a CAGR of 33.5%, the market will exhibit steady growth in the forecast period of 2023-2030.
Growing consumer awareness of this technology to boost the market.
Holoride, Inflight VR, Unity Technologies, Microsoft Deutschland GmbH, Samsung Electronics GmbH, Qualcomm Technologies, Inc., Playsnak, VRdirect GmbH, NVIDIA GmbH, and Google LLC (Alphabet Inc.) are the major players in this market.
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- 2019-2021
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