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.
Source – EU Commission