The time for AR & VR is now!

In the heart of technological evolution, the Augmented Reality (AR) and Virtual Reality (VR) market is emerging as a dynamic and transformative force in South Korea. As the landscape of immersive technologies continues to expand, South Korea stands at the forefront, illuminated by innovative enterprises and a thriving market. For companies with ambitions to venture into this realm, the prospects are not just promising; they are revolutionary.

In 2023, the AR & VR market in South Korea paints a remarkable picture, with a projected revenue of US$738.6 million. What’s even more inspiring is the trajectory it’s on – an annual growth rate of 13.20% from 2023 to 2027, culminating in a market volume of US$1,213.0 million. The largest slice of this pie is occupied by VR Hardware, boasting a substantial market volume of US$280.3 million.

Revenue by Market

Peering into the future, the AR & VR market is set to engage an impressive 68.4 million users by 2027. The user penetration rate, a striking 113.8% in 2023, is poised to climb even higher, reaching 132.7% by 2027. The average revenue per user (ARPU) of US$12.5 signifies not just a market potential but a genuine opportunity to create meaningful, impactful experiences for users. For companies eyeing the AR & VR market, South Korea is not just a region; it’s a hub of inspiration. The rapid growth, the enthusiastic user base, and the innovative landscape create an ecosystem ripe for exploration and investment.

So, to all the visionaries and trailblazers, the time is now. Embrace the AR & VR revolution, let innovation guide your path, and together, let’s redefine the way the world experiences technology. The future is immersive, and it’s waiting for you.

Source: https://www.statista.com/outlook/amo/ar-vr/south-korea