The NZVRARA (The New Zealand VR/AR Association Inc.) has today released the first of two reports commissioned on the New Zealand VR/AR Ecosystem.
The Report, titled ‘VIRTUAL GETS REAL: The Explosion of Cross Reality in New Zealand’ profiles a rapidly growing local industry that is predicted to contribute to New Zealand’s Digital Nation with annual revenues of NZ$324M and employ over 2,200 people in 2019.
Cross Reality (XR) is increasingly being used to refer to the virtual-to-reality continuum of immersive technologies including augmented and mixed reality.
The report has calculated that over 1100 fulltime employees are currently working in the sector in New Zealand, and that this is estimated to double within two years. The Association’s members and industry participants have identified that filling these roles is a key issue facing the sector. The report recommends undertaking annual independent sector surveys for headcount, revenue and other key metrics so that actual and forecast growth can be measured and appropriate actions taken.