With the global VR/AR industry’s GDP output projected to grow from $46.4 billion to $1.5 trillion by 2030, VR/AR promises lucrative economic and societal benefits. However, to achieve these potential benefits, the industry must receive better support and infrastructure appropriate for attracting and fostering talent, prioritizing collaboration, and paving the way for international expansion.
The Vancouver Economic Commission (VEC) and VIFF Immersed partnered with the Vancouver VR/AR Association to deepen our region’s understanding of this exciting and rapidly emerging sector, with a view to informing key audiences, such as government policymakers, funders, and the VR/AR community itself.
This study was undertaken to gain a detailed understanding of the state of the VR/AR ecosystem in Vancouver and BC — in terms of jobs, revenue, talent, and investment — and to identify common gaps hindering the industry’s performance.
A survey of companies, a series of in-depth interviews with stakeholders, and secondary research was carried out to explore the state of the VR/AR ecosystem in this province, and to provide relevant information as a basis for formulating recommendations and providing appropriate support for this exciting industry with dramatic potential for growth and societal good.
We gratefully acknowledge the support of the following sponsors and partners who have been instrumental in the development and publication of this report.