Report Overview

Increasing adoption in gaming and entertainment, growing demand for immersive training and simulation solutions in industries like healthcare and education, technological advancements, and a rising interest in virtual experiences for marketing and tourism, all contributing to the growth of the South Africa AR and VR market during the forecast period between 2023 and 2029.

South Africa AR and VR Market - Industry Trends & Forecast Report, 2029

South Africa AR and VR market size was estimated at USD 183.82 million in 2022. During the forecast period between 2023 and 2029, the size of South Africa AR and VR market is projected to grow at a CAGR of 17.48% reaching a value of USD 483.15 million by 2029. South Africa AR and VR market are driven by several key factors. Increasing adoption in industries like gaming, healthcare, and education fuels market growth. Rising demand for immersive and interactive experiences enhances AR and VR technology's relevance. Also, advancements in hardware and software, coupled with decreasing costs, make these technologies more accessible. Further, government initiatives and investments in AR/VR projects contribute to market expansion. Lastly, the COVID-19 pandemic accelerated the adoption of virtual solutions for remote work and training, further boosting the South Africa AR and VR market's development.

Augmented Reality and Virtual Reality - Overview

Augmented reality (AR) and virtual reality (VR) are immersive technologies revolutionizing the way we interact with digital content. AR enhances the real world by overlaying digital information, such as graphics or data, onto our physical surroundings through devices like smartphones or AR glasses. VR, on the other hand, transports users to entirely virtual environments using headsets, providing a fully immersive experience. These technologies find applications in various industries, including gaming, education, healthcare, and business, offering new opportunities for simulation, training, entertainment, and communication. As AR and VR continue to evolve, they promise to reshape how we perceive and engage with the digital and physical worlds.

Growth Drivers

Increasing Demand for Immersive Education

The growth of South Africa augmented reality (AR) and virtual reality (VR) market is being driven by a surge in demand for immersive education and training solutions. As traditional learning methods evolve, AR and VR technologies offer interactive, engaging, and effective learning experiences. Educational institutions and corporations are increasingly adopting AR and VR applications for training, skill development, and simulations. This trend not only enhances learning outcomes but also fuels the adoption of AR and VR across various industries, propelling the South African AR and VR market to new heights, with significant potential for expansion in the future.

Restraints

Limited Accessibility

The burgeoning AR and VR market in South Africa faces a significant challenge in the form of limited accessibility. Despite growing interest and potential, a considerable portion of the population lacks access to the necessary high-end devices and stable internet connections required for immersive AR and VR experiences. This digital divide hampers the widespread adoption of these technologies, restricting market growth primarily to urban areas and more affluent segments of the population. Bridging this accessibility gap through infrastructure development and affordable devices remains a critical hurdle for the South African AR and VR industry to reach its full potential.

Impact of COVID-19 on South Africa AR and VR Market

South Africa AR and VR market, despite facing initial setbacks due to the COVID-19 pandemic, showcased resilience and adaptability. The pandemic accelerated the need for remote communication and training solutions, driving increased adoption of AR and VR technologies across industries like healthcare, education, and entertainment. Businesses adapted by offering virtual experiences and remote collaboration tools, while educational institutions embraced virtual classrooms. This shift led to steady market growth, with AR and VR finding a lasting place in South Africa's post-pandemic digital landscape, shaping the future of how people work, learn, and interact.

South Africa AR and VR Market

Segmental Coverage

South Africa AR and VR Market - By Product

By product, South Africa AR and VR market is divided into Head Mounted Display, Handheld Applications, Smart Glass, Head-up Display, and AR Software segments. The AR software segment is the largest segment in the South Africa AR and VR market. This segement encompasses various software applications and platforms designed for augmented reality experiences. It includes software for gaming, education, training, industrial applications, and more. AR software is gaining significant traction due to its versatility and broad range of applications across industries, making it the dominant segment within the South African AR and VR market. Companies and developers are actively investing in this segment to create innovative AR solutions for various purposes, contributing to its prominent position in the market.

South Africa AR and VR Market - By Organization Size

By organization size, South Africa AR and VR market is divided into Small Enterprises, Medium-sized Enterprises, and Large Enterprises segments. The large enterprises segment is the largest contributor to the growth of South Africa AR and VR market. The segment comprises the largest and most established companies in the region, typically with significant resources and budgets for investing in augmented and virtual reality technologies. Large enterprises can implement complex AR and VR solutions for various applications, including training, marketing, and product development. They often lead the way in adopting these technologies to gain a competitive edge, making them a dominant force in the South African AR and VR market.

South Africa AR and VR Market - By Offering

By offering, South Africa AR and VR market is divided into Hardware, Software, and Services segments. The software segment is the largest in the South Africa AR and VR market. This sector encompasses the development and distribution of augmented reality (AR) and virtual reality (VR) applications and programs. It plays a pivotal role in enhancing user experiences and functionality across various industries, such as gaming, education, and healthcare. With a growing demand for immersive digital experiences and innovative applications, the software segment has witnessed substantial growth and investment, making it the dominant force within the South African AR and VR market. Companies focusing on AR and VR software development have a significant presence and influence in this expanding market.

South Africa AR and VR Market - By Application

By application, South Africa AR and VR market is segmented into Enterprise and  Consumer segments. The enterprise segment is a larger application in the South Africa AR and VR market. The segment encompasses a wide range of applications and solutions tailored for businesses and organizations. It includes applications such as training simulations, industrial design, virtual meetings, and more, aimed at improving efficiency, productivity, and innovation in various industries. The Consumer segment, while significant, is relatively smaller in comparison, focusing on AR and VR experiences and products for personal entertainment, gaming, and immersive content consumption. The enterprise segment dominates due to its extensive applications across diverse sectors, driving growth in the South African AR and VR market.

South Africa AR and VR market - By End User

By end user, South Africa AR and VR market is further segmented into Retail, Healthcare, Hospitality, Aerospace & Defense, Automotive, and Architecture segments. The retail segment is the largest in the South Africa AR and VR market. This segment encompasses the use of Augmented Reality (AR) and Virtual Reality (VR) technologies to enhance the shopping experience, provide virtual product demonstrations, and create immersive retail environments. South Africa's retail industry has increasingly embraced AR and VR applications to engage customers, improve sales, and stay competitive. As consumer demand for interactive and innovative shopping experiences continues to grow, the Retail segment remains at the forefront of AR and VR adoption in the South African market.

Competitive Landscape

South Africa AR and VR market is fiercely competitive, with major players including Cubix, TechGropse Pvt. Ltd., Midwam, Scope Technologies Co, CodesOrbit PVT LTD, Golden Logic Company, EON Reality, and iSpectra. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Scope of the Report

Attributes	Details
Years Considered	Historical Data – 2019–2022
	Base Year – 2022
	Estimated Year – 2023
	Forecast Period – 2023–2029
Facts Covered	Revenue in USD Million
Market Coverage	South Africa
Product/ Service Segmentation	Product, Organization Size, Offering, Application, End User.
Key Players	Cubix, TechGropse Pvt Ltd, Midwam, Scope Technologies Co, CodesOrbit Pvt Ltd, Golden Logic Company, EON Reality, iSpectra

 

By Product

• Head Mounted Display

• Handheld Applications

• Smart Glass

• Head-up Display

• AR Software

By Organization Size

• Small Enterprises

• Medium-sized Enterprises

• Large Enterprises

By Offering

• Hardware

• Software

• Services

By Application

• Enterprise

• Consumer

By End User

• Retail

• Healthcare

• Hospitality

• Aerospace & Defense

• Automotive

• Architecture

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. South Africa AR and VR Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increasing demand for AR and VR devices and applications in healthcare sector
         2. Increasing demand for VR in architecture
      2. Restraints
         1. Security and privacy issues associated with AR and VR
      3. Opportunities
         1. High growth in travel and tourism industry
      4. Challenges
         1. Display latency and limited field of view
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. South Africa AR and VR Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product
         1. Head Mounted Display
         2. Handheld Applications
         3. Smart Glass
         4. Head-up Display
         5. AR Software
      2. By Organization Size
         1. Small Enterprises
         2. Medium-sized Enterprises
         3. Large Enterprises
      3. By Offering
         1. Hardware
         2. Software
         3. Services
      4. By Application
         1. Enterprise
         2. Consumer
      5. By End User
         1. Retail
         2. Healthcare
         3. Hospitality
         4. Aerospace & Defense
         5. Automotive
         6. Architecture
         7. Others
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. South Africa AR and VR Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of COVID-19 on South Africa AR and VR Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Cubix
   2. TechGropse Pvt Ltd
   3. Midwam
   4. Scope Technologies Co
   5. CodesOrbit Pvt Ltd
   6. Golden Logic Company
   7. EON Reality
   8. iSpectra
   9. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1.  Primary & Secondary Research
   2.  Quantitative Research
   3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
   4. Breakdown of Primary Research Respondents, By Country
   5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

List of Figures

 

Figure 1       South Africa AR and VR Segmentation

Figure 2       South Africa AR and VR Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       South Africa AR and VR Market Size, By Value (USD Million), 2019–2029

Figure 5       South Africa AR and VR Market Share, By Product, By Value, 2019–2029

Figure 6       South Africa AR and VR Market Share, By Organization Sizes, By Value, 2019–2029

Figure 7       South Africa AR and VR Market Share, By Offering, By Value, 2019–2029

Figure 8       South Africa AR and VR Market Share, By Application, By Value, 2019–2029

Figure 9       South Africa AR and VR Market Share, By End User, By Value, 2019–2029

 

List of Tables

 

Table 1        South Africa AR and VR Market Size, By Value (USD Million), 2019–2029

Table 2        South Africa AR and VR Market Size, By Product, By Value, 2019–2029

Table 3        South Africa AR and VR Market Size, By Organization Sizes, By Value, 2019–2029

Table 4        South Africa AR and VR Market Size, By Offering, By Value, 2019–2029

Table 5        South Africa AR and VR Market Size, By Application, By Value, 2019–2029

Table 6        South Africa AR and VR Market Size, By End User, By Value, 2019–2029

Table 7        Cubix Company Overview

Table 8        Cubix Financial Overview

Table 9        TechGropse Pvt Ltd Company Overview

Table 10      TechGropse Pvt Ltd Financial Overview

Table 11      Midwam Company Overview

Table 12      Midwam Financial Overview

Table 13      Scope Technologies Co Company Overview

Table 14      Scope Technologies Co Financial Overview

Table 15      CodesOrbit Pvt Ltd Company Overview

Table 16      CodesOrbit Pvt Ltd Financial Overview

Table 17      Golden Logic Company: Company Overview

Table 18      Golden Logic Company Financial Overview

Table 19      EON Reality Company Overview

Table 20      EON Reality Financial Overview

Table 21      iSpectra Company Overview

Table 22      iSpectra Financial Overview