The virtual reality market in Spain will double its income this year and will exceed 100 million

MADRID, 25 Ago. (EUROPA PRESS) -

The virtual reality market in Spain will double its income in 2023 and will reach 102 million euros, compared to the 50 million euros it billed last year, according to a report prepared by the 'sportech' company Telecoming.

In this way, the turnover of virtual reality in Spain will represent 0.93% of the global market this year, which will rise to 10,998 million euros, and 5.56% of the European one, which will close the year with revenues of 1,834 million euros.

Likewise, in the next two years the income from virtual reality in Spain will grow by an average of 51% --above the European ratio-- and in 2025 the turnover will reach 232 million euros, which will represent 8% of this market in Europe (2,787 million euros) and 1.31% of the global market (17,622 million euros), adds the company.

"Although the bulk of the market value comes from the high amount of the devices, or 'hardware', consumer content also has its space", highlights the report, which shows that three out of every 10 euros spent on virtual reality in Spain will correspond to contents.

Thus, the Spanish will spend this year 35.5 million euros on "immersive content" and will access 2.8 million applications and virtual reality games, a figure that will be 6 million in 2025.

"However, Spain will be at the tail of the average virtual reality consumption time per user, which in 2023 will be 181.1 minutes per month. Only the Portuguese spend less time on immersive entertainment," adds the analysis.

On the other hand, Telecoming affirms that the console is the favorite device for Spanish users to access virtual reality games given that, according to data for this year, it accounts for 78% of the market for this type of content, while wireless terminals take 15% and computers 7%.

"This trend will consolidate in 2025, where consoles will monopolize 84% of the amount spent on virtual reality games. The report establishes that games will be the flagship product in terms of development, with a total of 90% of the contents of virtual reality created," the report states.

"With this new scenario, there will be more and more companies dedicated to the creation and development of virtual reality. The application of virtual reality technology to the entertainment industry is transforming sectors, such as the sports world, where fans demand more and more experiential and immersive content", highlighted the head of strategy for Telecoming, Patricia Peiró.