AR & VR - Canada

  • Canada
  • The AR & VR market in Canada is projected to generate a revenue of US$874.3m by 2024.
  • It is expected to grow at an annual rate of 8.80% (CAGR 2024-2029), resulting in a market volume of US$1,333.0m by 2029.
  • Among the market segments, AR Software holds the largest share with a market volume of US$286.5m in 2024.
  • The United States is the leading revenue generator in the AR & VR market, with a projected market volume of US$10,900.0m in 2024.
  • By 2029, the number of users in the AR & VR market is expected to reach 31.3m users.
  • The user penetration rate is projected to be 76.2% in 2024 and is expected to increase to 76.9% by 2029.
  • The average revenue per user (ARPU) is estimated to be US$29.3.
  • Please note that the revenue values mentioned here only account for B2C revenues.
  • According to the displayed market share of B2C, 0.00 of the total market (B2C & B2B) is covered.
  • Canada is experiencing a surge in AR & VR adoption, with innovative companies like Shopify and Magic Leap leading the way.
Region comparison

Analyst Opinion

The AR & VR market in Canada is experiencing significant growth and development, driven by customer preferences for immersive and interactive experiences, as well as advancements in technology.

Customer preferences:
Customers in Canada are increasingly seeking immersive and interactive experiences, which is fueling the demand for AR & VR technologies. These technologies offer a unique and engaging way to experience content, whether it's in gaming, entertainment, or even in educational and training settings. The ability to explore virtual environments and interact with virtual objects is appealing to a wide range of customers, from gamers to professionals.

Trends in the market:
One of the key trends in the AR & VR market in Canada is the adoption of these technologies in various industries. For example, in the healthcare sector, AR & VR are being used for medical training, patient education, and even surgical planning. In the real estate industry, virtual reality is being utilized to offer virtual property tours, allowing potential buyers to explore properties remotely. The gaming industry is also a major driver of the AR & VR market, with the demand for immersive gaming experiences on the rise. Another trend in the market is the development of more advanced and affordable AR & VR devices. As technology continues to evolve, AR & VR devices are becoming more accessible to a wider range of customers. This includes devices such as VR headsets, AR glasses, and even mobile AR applications. The increased affordability and availability of these devices are contributing to the growth of the AR & VR market in Canada.

Local special circumstances:
Canada has a strong tech industry, with many innovative startups and established companies focusing on AR & VR technologies. This has created a favorable environment for the growth of the AR & VR market in the country. Additionally, the Canadian government has been supportive of the tech industry, providing funding and incentives for research and development in emerging technologies, including AR & VR.

Underlying macroeconomic factors:
The robust economy of Canada, coupled with a tech-savvy population, is contributing to the growth of the AR & VR market. The country has a high level of internet penetration and smartphone usage, which provides a solid foundation for the adoption of AR & VR technologies. Furthermore, the increasing investments in research and development in the tech sector are driving innovation and pushing the boundaries of what is possible with AR & VR. In conclusion, the AR & VR market in Canada is experiencing significant growth and development due to customer preferences for immersive experiences, advancements in technology, the adoption of these technologies in various industries, and the supportive environment for the tech industry in the country. With the continued advancements in AR & VR technologies and the increasing demand for immersive experiences, the market is expected to further expand in the coming years.


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.


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).


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  • Key Market Indicators
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