Northbrook, IL 60062 -- (SBWIRE) -- 06/08/2023 -- According to a research report "France Augmented Reality and Virtual Reality Industry by Technology Type (AR: Markerless, Marker-base; VR: Non-Immersive, Semi-immersive and Fully Immersive Technology), Device Type, Offering, Application, Enterprise, and Geography - Global Forecast to 2027", published by MarketsandMarkets, France Augmented Reality and Virtual Reality Market to Grow at a CAGR 23.6% from 2022 to 2027
The increased use of AR and VR devices in retail and aerospace & defense sector to facilitate AR and VR market growth in France.
In France, the market is growing rapidly due to the use of VR and AR in various consumer, medical, and aerospace & defense applications. France is home to various commercial and industrial manufacturers that offer products for aerospace & defense, consumer, enterprise, and automobile applications. For example, the country houses global defense companies such as Nexter (Loire), Dassault Aviation SA (Paris), Naval Group (Paris), and Thales Group (Paris). Entertainment is another application area in France that will create demand for HMDs or VR headsets. The market is projected to witness high growth during the forecast period, mainly because of the country's ever-growing aerospace & defense sector.
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Supermarkets in France are keen on adopting AR and VR headsets to attract more customers and create an augmented or virtual shopping experience, encouraging them to buy more products. For instance, the superstore Système U used gesture cameras, software, and a large video wall at one of its stores to deliver an engaging way of communicating the launch of a few of its key products. It acts as a communication channel and adds up to the attraction for effective marketing.
France is considered among the major producers of video games in the world. Hence, the market is expected to witness considerable growth in France in the coming years. Broadcasters in France have also been using AR and VR solutions. For instance, in 2020, Pixotope, Future Group's mixed-reality platform, enabled French broadcaster TF1 to present innovative and live coverage of the French municipal elections. An augmented digital scenery was implemented without the need for a large or green screen studio.
France is also advancing rapidly in the healthcare sector. According to the World Bank statistics, France's per capita health expenditure has increased over the last 10 years. France is also progressing in the medical electronics field; the country is an early adopter of emerging technologies. The high growth of healthcare AR & VR is expected to drive the market in the country. The country is among the early adopters of AR devices and has a strong R&D background; for instance, in February 2019, CEA-LETI, a French research institute for electronics and information technologies, developed an AR Retinal Projection Technology based on a combination of integrated optics and holography. Moreover, the solid consumer base and well-developed infrastructure are likely to contribute to the growth of the AR market in France.
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