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The second edition of the Spanish XR Industry Report mirrors the good reception of the previous year document, and provides insight into Virtual Reality, Augmented Reality, Mixed Reality and all their variants, collectively known as the Extended Reality Industry.
For over four years, the Spanish Extended Reality Association INMERSIVA XR has been committed to raising the visibility of extended reality and supporting all Spanish XR professionals by enhancing talent and quality of their projects. As a result, we serve as a bridge between enterprises and XR professionals, as well as non-XR companies, technology enthusiasts, students, international organisations, and governmental bodies.
Last year report results highlighted the necessities and demands of Spanish XR companies. The results served a beacon for designing our annual business plan, outlining NEXR European Program, the internalisation program of our Association, focused on the European countries this year, or the professional’s portal Talento XR launching, conceived for promoting the link between companies and XR professionals, either freelance workers or trainees.
XR industry carry on growing, as it is shown on the report, the application areas of this technology continue to be varied and have a large number of use cases. That leads us to highlight the creation of the INMERSIVA XR Awards, to annually reward the best XR projects from Spanish companies.
We hope our Association keep up growing at the pace of industry and annually being able to show its development with broader and more precise data, improving our research area. After all, we are passionate about this industry, and we always work advocating transparency and neutrality. As a non-profit association, our ultimate goal is to achieve institutional recognition as a strategic sector, a generator of employment, an engine for new business models and an international exponent of our culture and competitiveness.
As it is shown in the report, XR companies are spread across the entire Spanish territory, with a greater presence in Madrid and Barcelona, although there is also noticeable presence in Guipúzcoa, Málaga and Valencia.
The history of XR is evident in the timeline of its foundations, which peaked during the surge of VR in 2017, and saw another increase with the onset of the pandemic in 2020.
For this reason, Spanish XR companies have an average of 7 years of experience, although most have small teams of fewer than 10 professionals. Their main activities include Development, Consulting, Software, and Production.
Given the rapid changes constantly occurring in the XR industry, companies have developed a strong capacity for adaptation, are highly multidisciplinary and are increasingly specialising in specific areas and sectors. Most of the Spanish XR companies surveyed focus on Virtual Reality, Augmented Reality, and Mixed Reality, while also exploring virtual worlds and ‘metaverses’. Additionally, 360º video stands out among audiovisual technologies, alongside the convergence with other technologies such as Artificial Intelligence and Blockchain.
The XR industry boasts a great variety of profiles, which include technical, creative, and management roles. Within companies, we identify over 20 distinct roles, with Development and Programming being the most prevalent, followed by 3D Art and Project Management. Among freelancers, the most popular are 3D Art, Development and Programming.
When it comes to the gender composition in Spanish XR companies, there is a significant underrepresentation of women. Although there has been a slight increase compared to last year, only 3 out of 10 professionals in Spanish XR companies are women.
On the other hand, 75% of companies plan to hire staff professionals in 2024, particularly in Development, Programming, 3D Art, and Commercial professionals. 50% of companies demand freelancers, mostly in Programming, 3D Art, and Animation.
However, 83% of companies report that they find it difficult to find professionals that meet their needs. In any case, 44% of companies have interns in their workforce.
Overall, XR industry operates primarily in B2B working context, with customers mainly based in Spain and across Europe. The sectors with the highest numbers of projects are Marketing, Audiovisual, and Education. Projects in Industry, Medicine, Events and Congresses, and Tourism and Heritage are somewhat less frequent, likely due to their scale, highlighting the transversal application of XR technology. 83% of companies rely on R+D on their projects, especially in the industrial sector.
Most of the companies has between 10 and 50 projects per year and an average billing between €100,000 and €250,000. Looking ahead, 89% of the surveyed XR companies in Spain anticipate an increase in billing volume this year.
Companies billing is mainly distributed among the following technologies: 28% in Virtual Reality, 23% in Augmented Reality, and 19% in Audiovisual Technologies.
Compared to 2022, the amount of public subsidies granted has increased; however, 64% of companies still find it difficult to have access to public grants, specific destinated to XR technology. 44% of companies have been subsidised through national grants and aids, but only 8& are subsidised through European grants. Overall, 55,6% of companies have not received any public funding, and 75% do not have received private funds in 2023.
Regarding the latest trends, 72% of companies believe that Extended Reality technology has become more mainstream in the past year, although overall understanding remains limited. It is also noted that the launch of Apple Vision Pro has only influenced 22% of Spanish XR companies, possibly because the devices are not yet available in Spain. On the other hand, Artificial Intelligence is a requirement for 83% of surveyed companies’ customers.
The Spanish panorama of Extended Reality has always been characterised by having a close community, with a great collaborative spirit. This translates into a positive valuation of participation in events, with 83% of companies expressing interest. Moreover, 89% of companies are actively seeking to internationalise.
For these reasons, it is essential to enhance the integration of new professionals into the workforce, with a particular focus on women. In addition, support from public institutions is necessary to increase the availability of specific grants for the XR industry, and promote the internationalisation of companies.
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