The region is expected to drive the global VR market between 2018 and 2030
According to GlobalData, enterprises in the Asia-Pacific (APAC) region are keen on embracing technologies like augmented reality (AR) and virtual reality (VR). The global VR market revenue is set to grow at a compound annual growth rate of 13% from an estimated $7 billion in 2018 to $28 billion in 2030, GlobalData says.
VR software accounts for two-thirds of the total VR market revenue worldwide, with the remainder coming from hardware sales. Games account for the largest part of software revenue, with enterprise software contributing a further 30% and non-gaming consumer software about 2%.
Although these technologies are in the initial stages of evolution and adoption in APAC, a significant rise, especially for non-gaming and enterprise software for VR, is expected.