1. Analysis of AR, VR and MR Accessories Market Revenue and Growth Rate in China and Japan
Market Revenue and Growth:
In 2018, the market revenue was at 231.6 million USD, which increased to 528.6 million USD in 2022, indicating a substantial growth in the Chinese market.
The estimated revenue for 2023 is 505.5 million USD, followed by a projected growth to 1097.4 million USD by 2029.
Growth Rate Analysis:
The overall CAGR from 2018 to 2029 is approximately 18.1%, indicating a robust growth in the China AR, VR, and MR accessories market over the 11-year period.
The CAGR from the estimated year 2023 to the forecasted year 2029 is approximately 12.8%, suggesting a slightly slower growth rate in the latter part of the decade compared to the initial period.
Figure China AR, VR and MR Accessories Market Revenue (Million USD) and Growth Rate (2018-2029)
Market Revenue and Projections:
Starting from $92 million in 2018, it is expected to reach $167.2 million by 2023. The forecast for the subsequent years shows a continued growth trend, with an expected revenue of 306.3 million USD by 2029.
Growth Rate Fluctuations:
The overall CAGR from 2018 to 2029 is approximately 13.6%, indicating a robust growth in the Japan AR, VR, and MR accessories market over the 11-year period.
The CAGR from the estimated year 2023 to the forecasted year 2029 is approximately 10.7%, suggesting a slightly slower growth rate in the latter part of the decade compared to the initial period.
Figure Japan AR, VR and MR Accessories Market Revenue (Million USD) and Growth Rate (2018-2029)
2. Comparison of AR, VR, and MR Accessories Markets between China and Japan
China’s revenue has shown a consistent increase from 2018 to 2022, with a slight decrease in 2023, possibly due to market saturation or economic factors.
Japan’s revenue has also increased but at a slower pace compared to China. The decrease in 2023 is less pronounced than China’s, indicating a more stable market growth.
Table China and Japan: AR, VR, and MR Accessories Market Revenue (Million USD) (2018-2023)
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
China |
231.6 |
259.1 |
334.1 |
486.1 |
528.6 |
505.5 |
|
Japan |
92.0 |
98.7 |
120.5 |
168.4 |
176.9 |
167.2 |
China’s CAGR shows a significant spike in 2020-2021, indicating rapid market expansion. However, it experiences a negative growth rate in 2022-2023, which could be attributed to various market or economic factors.
Japan’s CAGR is more stable, with a steady growth rate throughout the period. The negative growth rate in 2022-2023 is less severe than China’s, suggesting a more consistent market performance.
Table China and Japan: AR, VR, and MR Accessories Market CAGR (2018-2023)
|
|
2018-2019 |
2019-2020 |
2020-2021 |
2021-2022 |
2022-2023 |
|
China |
/ |
/ |
45.49% |
8.73% |
-4.36% |
|
Japan |
/ |
/ |
39.74% |
5.06% |
-5.45% |
