Where will the key to the XR (VR / AR / MR) market be in the next five years?
Digi-Capital, investigating and investing in AR / VR and mobile trends, seems to be paying attention to the European market.
Market size by country is China
The biggest feature of the European market is that it has more than 40 countries with different cultures in the region. Each country's language, economic situation, laws and regulations are very diverse.
Digi-Capital forecasts that by 2023, the country-specific XR market size by country is China, the United States, Japan, South Korea, and India. Within Europe, Russia, Germany, UK, France and Italy are the top five countries.
By region: The majority is Asia, but ...
On the other hand, market forecasts by region rather than by country are overwhelming, with Asia accounting for 51% of the total. Next, Digi-Capital forecasts that Europe is 25% and North America is 17%, which is third.
Certainly, North America is second in terms of country units, but from the perspective of “region”, it is the view that worship Europe.
Market expansion is similar to smartphones and games
Digi-Capital points out that, as a feature of the installed base XR market, the spread of AR is roughly similar to the popularity of smartphones. VR is similar to the expansion of the game market.
In addition, XR market revenue includes a variety of hardware, enterprise software and services, app sales, and location-based entertainment. However, from a long-term perspective, it may be the same expansion as the above installed base.
Digi-Capital's view is that factors such as the number of users and unit economics determine the global market flow. Based on this, the European region with a large consumer and a history of industrial innovation would have potential in the XR market.