AR & VR - Malaysia

  • Malaysia
  • The AR & VR market in Malaysia is projected to reach a revenue of US$107.7m by 2024.
  • It is expected to show an annual growth rate (CAGR 2024-2029) of 9.14%, resulting in a projected market volume of US$166.8m by 2029.
  • Among the market segments, VR Hardware holds the largest share with a market volume of US$30.4m in 2024.
  • The United States generates the highest revenue in the AR & VR market, with a projected market volume of US$10,900.0m in 2024.
  • In terms of user base, the number of AR & VR market users in Malaysia is expected to reach 18.9m users by 2029.
  • The user penetration rate is projected to be 52.8% in 2024 and is expected to increase to 52.0% by 2029.
  • The average revenue per user (ARPU) is estimated to be US$5.9.
  • Please note that the revenue values mentioned here only represent B2C revenues, and do not account for B2B revenues.
  • According to the displayed market share of B2C, 0.00 of the total market (B2C & B2B) is covered.
  • Malaysia is experiencing a surge in AR & VR adoption, with the gaming industry leading the way in immersive and interactive experiences.
Region comparison

Analyst Opinion

The AR & VR market in Malaysia 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 Malaysia are increasingly seeking immersive and interactive experiences, which has fueled the demand for AR & VR technology. The younger generation, in particular, is drawn to the novelty and excitement of virtual reality, while businesses are recognizing the potential of augmented reality for enhancing customer engagement and improving productivity.

Trends in the market:
One of the key trends in the AR & VR market in Malaysia is the adoption of virtual reality in the gaming and entertainment industry. Virtual reality gaming has gained popularity among Malaysian consumers, with the availability of VR headsets and gaming consoles. The demand for VR gaming experiences has led to the establishment of VR arcades and gaming centers across the country. Another trend in the market is the integration of augmented reality in retail and e-commerce. Malaysian consumers are increasingly using augmented reality apps to visualize products before making a purchase. This technology allows customers to try on virtual clothing or place virtual furniture in their homes, enhancing the online shopping experience.

Local special circumstances:
Malaysia's diverse cultural heritage and tourism industry have contributed to the growth of the AR & VR market. AR technology is being used to enhance cultural and historical sites, providing visitors with interactive and educational experiences. Additionally, the tourism industry is leveraging VR technology to promote destinations and attract international travelers.

Underlying macroeconomic factors:
The Malaysian government has recognized the potential of AR & VR technology and has implemented initiatives to support its growth. The Digital Malaysia initiative, for example, aims to transform Malaysia into a digital economy and has allocated funds for the development of AR & VR technologies. Additionally, the government has provided tax incentives for companies investing in AR & VR, encouraging innovation and investment in the sector. Overall, the AR & VR market in Malaysia is experiencing rapid growth due to customer preferences for immersive experiences, the adoption of VR in gaming and entertainment, the integration of AR in retail and e-commerce, and the support of the government. As technology continues to advance and consumer demand increases, the AR & VR market in Malaysia 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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  • Methodology
  • Key Market Indicators
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