AR & VR - Finland

  • Finland
  • The revenue in the AR & VR market in Finland is projected to reach €96.1m in 2024.
  • It is expected to show an annual growth rate (CAGR 2024-2028) of 10.70%, resulting in a projected market volume of €144.4m by 2028.
  • The largest market segment is AR Software with a market volume of €30.0m0.00 in 2024.
  • The United States generates the most revenue in the AR & VR market, with a projected market volume of €9,376.0m in 2024.
  • In Finland, the number of users in the AR & VR market is expected to amount to 4,157.0k users by 2028.
  • The user penetration rate will be 72.3% in 2024 and is expected to increase to 74.7% by 2028.
  • The average revenue per user (ARPU) is expected to amount to €11.8.
  • Please note that the revenue values mentioned here only account for B2C revenues.
  • According to the displayed market share of B2C, none of the total market (B2C & B2B) is covered.
  • The AR & VR market offers significant potential for growth and development in Finland.
  • Finland's AR & VR market is thriving, with a strong focus on innovation and collaboration between tech companies and academic institutions.
 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

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.

Methodology

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).

Overview

  • Revenue
  • Analyst Opinion
  • Reach
  • Global Comparison
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Kisara Mizuno
Kisara Mizuno
Senior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)