The Virtual and Augmented Reality Industrial Coalition has developed a roadmap outlining the next steps for VR/AR in Europe endorsed by the Commission over 40 EU organisations operating and investing in these technologies.
The Virtual and Augmented Reality (VR/AR) ecosystem comprises a high number of small and medium enterprises and only a few large market players. The EU VR/AR market size was estimated at €7.1 billion in 2021, with a 26% growth rate from the previous year. This growth is expected to continue over the next years roughly at an estimated 37% during 2021-2026.
The VR/AR Industrial Coalition has an overall objective to inform policy makers about the potential of VR/AR, encourage investment in the European VR/AR ecosystem, facilitate dialogue amongst its stakeholders, and address the current challenges whilst leveraging opportunities for Europe. The VR/AR Industrial Coalition will contribute to this objective by supporting the potential of the sector across the Member States and by boosting European level solutions.
VR AR Industrial Coalition Roadmap with signatories (.pdf)
Source: European Commission I Digital (https://bit.ly/3DRHLYn)