Every month, over 600 million people use Spark AR on Facebook and Instagram (SocialMediaToday, 2020). This number has come down from 78% in 2017 earlier. (19 percent) of US consumers have used VR in 2020a three percentage point increase from 16 percent in 2019 (AR Insider, 2020). Predictions have been made that China will have the most significant AR/VR spending at 36% by the same year. 39% say they use VR sets once a week, 19% once a month, 8% once every six months, and 6% just about once a year. 
Consumer spending on mobile AR amounted to $1.3 billion in 2020, a vast majority of which coming from in-app purchases. Virtual reality statistics for 2020 show that as of the second quarter of the year, Facebook was the market leader when it came to headset shipments, accounting for 38.7%. Entertainment companies have also been eager to implement the technology. (Newzoo) Mobile Video Game Statistics The way mobile games exploded onto the scene is unlike anything weve seen There are 65.9 million VR users in the U.S., which is 15% of the countrys population. (Virtualspeech, 2019), Intel also recognizes the potential of VR for enterprises. Simpler devices like Oculus Go are likely to solve some of these issues. What Is Sterling Background Check and How Does It Work? 70% of consumers believe AR can be helpful for learning new skills. Sony followed with 21.9%, and Pico placed third with 9.2%. The online retail space has been crippled by the inability to try on new technologies like VR. The number of augmented reality users on social media in the US is around 46.9 million and will rise to 48.3 million in 2022 (eMarketer, 2020). our site, we may earn an affiliate commission. WebVirtual reality sales dropped to $3.89 billion in 2020, after reaching $4.99 billion in 2019. However, there are even more AR users in the U.S., with 83.7 using this technology. The report also predicts that VR will lead to a growing number of employment opportunities. When it comes to factors hindering VR adoption, content offerings (27%) is the top obstacle, followed by user experience (19%), business and consumer reluctance (19%), regulation and legal risks (12%), the cost to consumers (11%), and financing and investment (9%). The market size of virtual reality is projected to increase from 6.2 billion dollars in 2019 to 16 billion by 2022. Augmented and virtual reality technology has become increasingly accessible and widely used over the past few years and only seems to be growing in popularity. WebVirtual Reality (VR) is a technological interface that allows users to experience computer-generated environments within a controlled setting. This results in millions to hundreds of millions of dollars that these companies are saving or earning. This could also be a reflection of how the industry has developed so far, with the technologys potential in other areas not really becoming as widely known. In this article, youll learn ten virtual reality statistics you need to know in 2022. Airbus uses VR to optimize maintenance via simulated protocols. Soon, the interactive and immersive experiences of the tech will be brought to your customers as artificial intelligence redefined customer service. Spatial, which creates a tool best described as a VR version of Zoom, reported a 1,000% increase in the use of its platform since March 2020. Movies like Ready Player One and partial VR viewability of events like the Super Bowl and the Winter Olympics have also contributed. are in no way influenced by the companies mentioned. However, AR is seen as more relevant and is more widely implemented than VR in manufacturing. Experts also expect virtual reality to bring about economic advantages. Even though AR and VR devices still arent quite as in-demand as other electronics like smartphones or smartwatches, the growing market size is a clear indication of its potential. Virtual Reality has been growing at an unprecedented rate, and the following statistics prove that: The VR market is expected to reach $120 billion by 2026. That forced many stakeholders to revise their predictions. With its widespread adoption in training, education, and healthcare, the VR market Vorobyev Vladimir on LinkedIn: Virtual Reality Statistics To Know In 2023 - XR Today AR accounts for $4.2 billion in revenue in 2021 while VR rakes in $3.5 billion, making AR a bigger avenue for innovation (Business Insider, 2021). As of the second quarter of 2020, the market leaders of virtual reality headsets are Facebook (38.7%), Sony (21.9%), Pico (9.2%), DPVR (8.9%), and HTC (4.9%) (IDC, 2020). based on our tests and personal experience with a product/service. Nearly one in five (19 percent) of US consumers have used VR in 2020a three percentage point increase from 16 percent in 2019 (AR Insider, 2020). This way, not only could their models comply with social distancing regulations and not have to go to the studio to try on these products, but ASOS could also successfully and creatively market their products to their customers in lockdown. It is followed by the distribution and services sector with 15.8%, and the manufacturing and resources sector at 13.8%. Although the COVID-19 pandemic harmed the VR market worldwide, it is expected to make a good recovery this year. of these devices are expected to be shipped in 2022, a 54.2 percent increase from 2021s 9.69 million (IDC, 2021). A smaller set of glasses is also expected to be up for sale the following year. This number looks a bit small, considering there were about 1 billion AR users alone in 2020. Virtual reality market projections reveal consumer and commercial usages will gain more followers in recent years. The global virtual reality software and hardware market size was valued at $2.6 billion in 2020, which will jump to $3.7 billion in 2021, $4.6 billion in 2022, and 5.1 billion by 2023 (SuperData, 2020). According to the same research, VR also has high word-of-mouth marketability, with 81% of people who had already experienced VR reporting they had told their friends about it. Research Summary. VR and AR are also used in professional settings, as there are currently 80,000 jobs in the U.S. that employ this technology, and this is projected to reach 2.32 million by 2030. This is nearly ten times the $30.7 billion market size registered as recently as 2021. The list also mentions 978 investors, meaning that many of these startups have also managed to find significant funding to develop their projects. Since 2015, the number of VR users has been rising. This is a significant boost compared to what we had in 2020 52.1 million and 82.1 million people in the US used AR and VR at least once per month. Other areas in decreasing order of expectations are film and TV (52%), sports viewing (42%), classroom education (41%), and social media (38%). A considerable number of these experts focused their answers on the transformative potential of artificial intelligence (AI), virtual reality (VR) and augmented reality (AR). The remaining 53% say theyd never heard of VR before the survey or that they know of VR, but not much more than that. Be the first to rate this post. Because of the nature of such jobs and the high costs of mistakes, the simulation permitted by virtual reality makes it a practical solution as it allows them to practice in a safe environment. Virtual Reality (VR) and Augmented Reality (AR) Device Ownership and Purchase Intent Among Consumers in the United States as of 1st Quarter 2017, by Age Group. Accessed on February 1, 2022. (PYMNTS, 2019; Virtual Perceptions), In addition, the use of VR technology to build online virtual change rooms can help retailers improve conversion rates by more than 6.4%, increase order value by 1.6%, reduce fulfillment costs by 5%, and lower returns by 5.2%. Statistics About Virtual Reality in Higher Education. Was it affected by the global COVID-19 pandemic? 38% of VR users say they intend to increase the use a lot more; 32% say they want to do so by a little more. 75% of industrial companies that have implemented large-scale VR and AR technologies saw a 10% increase in operations. Here are some intriguing VR manufacturing statistics: Currently, VR is no longer limited to gaming. Virtual Reality (VR) Headset Unit Sales Worldwide in 4th Quarter 2019 and 4th Quarter 2020, by Device. Accessed on February 1, 2022. Sectors that have seen widespread adoption of and increased demand for VR include, According to the latest virtual reality statistics, by 2027, its market size is forecast to reach. To kick things off, lets take a look at the sectors market size. The same source stated that the largest VR spending was in the consumer sector, amounting to 53%. From 2018 to 2022, the number of monthly users of VR will have increased by 75.7% (Oberlo, 2020). From growth figures to virtual reality future predictions on the global economy, weve got you covered. VR revenues accounted for about 36% of this sum. Compared to other industries, the virtual reality gaming space has won a notable market size. But that seems to be changing, and fast. Using VR, the ecommerce company digitally fitted models with their new designs. However, its time businesses trashed the fear they have about implementing this technology. All the opinions youll read here are solely ours, As an Amazon Associate we earn commissions from qualified purchases. 27. This is a significant amount. We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website. VR Visualization in Gaming Web3 Decades innovating and delivering at the Intersection of Digital Media, Gaming & Comms 1w Edited Let us know in the comments below! As mentioned earlier, when VR technology first came, some overhyped it. The US scores very high on companies that have proof of concepts or pilots but lags a bit in terms of wider-scale implementation. Uses of Virtual and Augmented Reality by Industrial Companies. Accessed on February 1, 2022. Interestingly, 90% of all participants lauded the platform for helping them improve efficiency and work better. 1. Copyright 2023 FinancesOnline. China accounted for 38.3% of the global AR/VR share in 2020. With not much other than a headset needed to play a VR game, it makes it easy and convenient for gamers to just pop the device on, launch, and be taken to an entirely different world. This is about 15% of the U.S. population. Virtual Reality Facts: Popularity Increase, 6. Other companies with high shares of the VR market include HTC and Microsoft. In the healthcare sector, 68% of professionals believe that AR/VR training simulations will be the primary focus of new solutions and applications through 2022 (Perkins Coie, 2020). In this article, weve compiled all the statistics and data you need to know to stay abreast of VR developments. The market for VR technology has been growing along with the technologys rapid development. There are over 171 million people using VR today. Estimated VR Device Shipment Share by Vendor Worldwide in 2018 and 2019. Accessed on February 1, 2022. The benefits of VR/AR are just about limitless. And theyre not stopping at one. It is expected to reach $32.94 billion by 2026 at a compound annual growth rate of 39.7%. This is a remarkable improvement from just 45% in 2015. It is projected to reach $77 billion by 2025 (Research and Markets, 2020). Sony, Samsung Electronics, Google, Microsoft, HTC, Oculus (owned by Facebook), Eon Reality, and a few others (MarketsandMarkets, 2020). This comes at no extra cost to you. 3 Decades innovating and delivering at the Intersection of Digital Media, Gaming & Comms 5 j. Modifi Also, a poor content offering by the VR industry was cited as an obstacle by 19% of respondents. While it has not lived up to its profound potential, virtual reality statistics show that the technology is making massive leaps and bounds, and its near future is mesmerizing to behold. Asian giant China is at the top of this list, with an expenditure forecast of $5.8 billion on the technology in 2020 (Statista, 2019). We may earn a commission from A Feature Paper should be a substantial original Article that involves several techniques or approaches, provides an outlook for future research directions and describes possible research applications. Closely followed by the United States and Western Europe. This will all change this decade, with as many as 23 million jobs set to be using AR and VR in one way or another for training, meetings, and customer service purposes by 2030 (PwC, 2019). bulky hardware and technical glitches) is an obstacle to the mass adoption of VR. Jaded by conventional forms of advertising, consumers are keen on trying out new formats that allow them to experience brand stories in a more intimate manner. In comparison, 18% say theyve followed it for years and know it well or would almost call themselves experts. Aside from retail, manufacturing, and training, VR is slowly creeping into the data visualization industry. Meanwhile, another report from Research and Markets appraised the virtual reality market at $6.1 billion in 2020 with an annual growth rate of 27.9%, projected to reach $20.9 billion by 2025 (Research and Markets, 2020). With its widespread adoption in training, education, and healthcare, the VR market Vorobyev Vladimir on LinkedIn: Virtual Reality Statistics To Know In 2023 - XR Today Investments in AR and VR were estimated The virtual reality gaming market size is projected to reach $92.31 billion by 2027. Thanks to the innovations in VR development, virtual reality games are the new big thing in the world of gamers. Using immersing in VR accessories, and 3D environments, game makers are improving their products and pushing this growth. . The largest growth is expected in marketing and advertising, retail, manufacturing, and automotive. This technology has been increasingly used in the context of mental health treatment and within clinical research. The technology is beginning to catch on in both the enterprise and commercial environments. The use of VR technology has enabled Airbus to reduce the duration of maintenance processes by 25% (Airbus, 2019). The market size of virtual reality HMDs was $5.5 billion in 2019 with a CAGR of 22.3%, projected to reach $18.6 billion by 2026 (Valuates, 2020). Let's start with some general facts about the market. This is down from the 43% it held in 2018. While it has not metamorphosed into a ubiquitous technology, we hope it will. This then begs the question: What are some of the key drivers behind such impressive growth? This is nearly ten times the $30.7 billion market size registered as recently as 2021. Through focused research and development efforts, direct investment, and building of human capital, Chinese firms, along with the Chinese government, have launched a concerted campaign to become the leader in VR technology. (Grand View Research) According to a recent report, the virtual reality markets growth for the period Right now, there are fewer than half a million jobs worldwide that are impacted by VR and/or AR. With increasing familiarity and more content, there seems to be the possibility of a noticeable increase in VR use in the coming months. Whether youre looking to adopt the technology for your, or be a leading seller of its devices, its always better to get a jump on it sooner rather than later so why not get. The discrete manufacturing sector is expected to receive commercial VR investments amounting to $5.9 billion in 2024 while process manufacturing will have 5.1 billion (IDC, 2020). The incorporation of VR for commerce has been particularly popular among businesses and organizations. WebThe global virtual reality in manufacturing industry stood at USD 924.7 million in 2018 and is projected to reach USD 14,887.0 million by 2026, exhibiting a CAGR of 39.2% during the forecast period We are in process of revamping virtual reality (VR) in manufacturing industry with respect to COVID-19 Impact. Companies | Devices | Trends and Projections. sustainable. No breakthrough has been reached yet, but with global brands like IKEA, Audi, DHL, and Airbus adopting the VR experience, the future looks bright. by different review sites shows that these brands dominate the list with their products. (Source: Greenlight Insights, GlobalWebIndex). Under, 10 Reasons to Monitor Your Kids' Smartphone and Online Activity, The Stupendous World of Google Search Statistics, How to Hide Your IP Address - Made Easy for Beginners, 50 Data Breach Statistics to Help You Be Prepared in 2023, How to watch High School DxD in order? This is a sharp increase from the $0.8 billion in revenue the global industry earned in 2019. On the contrary, these partnerships often allow us to give you discounts 47% of Americans say they are familiar with VR. Thanks to a number of factorsmore affordable hardware, faster internet speeds, and a receptive audiencethe growth figures have been striking over the last 4-5 years. The augmented reality market is estimated to exceed $50 billion by 2024. qualified purchases, but this doesnt reflect on our reviews quality or product listings. There you have it a compilation of the most intriguing virtual reality statistics. Virtual Reality (VR) Market Size is Projected To Reach USD 26860 Million By 2027 at a CAGR of 19.0% Valuates Reports. Accessed on February 1, 2022. As far as VR/AR and other immersive technologies going mainstream is concerned, 37% of businesses think it will happen in two to five years, 25% within 2 years, 17% in the next 5-8 years, 15% in less than 2 years, and 6% in 8-10 years (Perkins Coie, 2020). Virtual reality market statistics predict that 58.9 million and 93.3 million people in the United States will use VR and AR respectively at least once a month this year. A quick look at the best VR headsets in 2020 by different review sites shows that these brands dominate the list with their products. In terms of gender, 30% of men surveyed had used a VR headset at least once compared to only 16% among women. These key players include Sony, Samsung Electronics, Google, Microsoft, HTC, Oculus (owned by Facebook), Eon Reality, and a few others (MarketsandMarkets, 2020). As it stands, there is evidence of the use of VR for furniture and room design shopping. Oculus, owned by Meta, is catching up quickly, as the percentage of shipments it holds increased from 19.4% in 2018 to 28.3% in 2019. Its still early to speculate. (Tech Trends). Virtual reality (VR) has proven to be a powerful tool to help people overcome PTSD and many other mental health issues including phobias, anxiety, and depression. According to VR statistics, spending on location-based VR is expected to account for an additional $700 million. It also experienced a 28-point increase in sales and a 7.9-point rise in brand awareness. Given the potential and benefits of virtual reality technology, it should come as no surprise that the demand for AR and VR headsets is set to gain further traction in the near future. How many virtual reality companies are there? Professional Services Automation Software - PSA, Project Portfolio Management Software - PPM, 74 Virtual Reality Statistics You Must Know in 2023: Adoption, Usage & Market Share, virtual and augmented reality headset shipments in 2020 amounted to 5.5 million units, 2.7 times more likely to participate in successful missions, magnifying learning from each customer experience, 25.92% of gamers on Steam have Facebooks Oculus Rift S headset, artificial intelligence redefined customer service. A Feature Paper should be a substantial original Article that involves several techniques or approaches, provides an outlook for future research directions and describes possible research applications. IKEA, Wayfair, and Lowes have implemented the VR experience, and the benefits are there for everyone to see. When you purchase through links on links. Your email address will not be published. Since content encourages repeat use, which is one of the biggest factors of success, this is good news for the VR market. This means that 13% of the American population used VR once a month in 2019. With its innovative experience now a reality, businesses are keenly embracing the opportunities it presents. Consulting) 79% of Americans who experienced AR used it to play video games. Furthermore, Pokemon Gos lifetime revenue is $4.2 billion (ARtillery Intelligence, 2020). Nearly 70% of consumers who own a dedicated VR headset such as Oculus Rift, HTC Vive, or Sony Playstation VR have bought games for it. In 2016, the market was worth about $2.02 billion. A VR world for us all is not happening yet. "According to some studies, the number of VR users worldwide grew Besides, there are massive adoption campaigns aimed at encouraging the consumer and enterprise markets to embrace this technology. Statista. 70% of professionals believe that organizations will focus on adopting VR/AR in training and development in 2021 Perkins Coie, 2020). In the U.S. alone, there are 50.2 million VR users. According to the latest virtual reality statistics, its market size is expected to reach $ 92.31 billion in 2027, marking a compound annual growth rate of 30.2 percent in the seven-year period between 2020. and 2027 (Grand View Research, 2020). We hope you now have a better idea of the direction this technology is headed towards and its potential. The number of VR users in the U.S. has increased from 22.5 million in 2017 to 50.2 million in 2020. The reality of VR technology has failed to live up to the hoopla around it for many consumers. WebGood to know Virtual Reality Statistics To Know In 2023 What are your thoughts on the Hardware and or Software Site? The signs are encouraging, and when all hurdles are cleared, VRs transformative power will take full effect. As of 2023, there are 65.9 million VR users and 110.1 million AR users in the U.S. No spam. Groups latest Compliance Training Survey found that that 9 percent of high-performing companies currently are deploying virtual reality, compared to 6 percent of other organizations. On the other hand, many underestimated the emerging technology, and its no surprise, then, that VR growth stalled. Today, employees in high-risk fields and heavy industries like oil and gas, construction, and manufacturing are getting the opportunity to test the waters of the virtual world. Its true that, for a long time, consumers have been hesitant about embracing VR technology. Large enterprises have taken their best foot forward, and the growing influence of VR within the enterprise environment is projected to cause prices to drop. Going forward, all signs point to a surge in the virtual reality market. VR stats for 2022 show that the VR gaming revenue sits at $1.1 billion. Some of the places where the use of VR is gathering steam include workplace layout and design, equipment design, and product development. VR training has a retention rate of 75%, beating out lectures (5%), reading (10%), and audio-visual learning (20%) (FrontCore, 2020). While the use of VR is not as advanced as the use of AR in manufacturing, its still supporting numerous use cases. And surprisingly, the COVID-19 pandemic has helped further its growth. Given the advantages of VR in gaming, it should come as no surprise then that more and more gaming companies will be adopting the technology as demand for it grows. However, you can expect big names to enter the playing field very soon. Social media content is seen as the medium with the highest VR/AR usage rate at 47%, followed by videogames (40%), live streaming (32%), film and entertainment (31%), advertising (28%), and music (28%) (Perkins Coie, 2020). EU Office: Grojecka 70/13 Warsaw, 02-359 Poland, US Office: 120 St James Ave Floor 6, Boston, MA 02116. Uses of Virtual and Augmented Reality by Industrial Companies. The latest virtual reality statistics show that the global market size of AR and VR is forecast to hit $296.9 billion in 2024 (Statista, 2021). Yes, VR is growing in popularity. However, the technology seems to be very expensive for small and medium businesses. As per VR demographic statistics, 35% of VR users are in the age group of 25 to 34 years. 26% of VR users are in the age range of 35 to 44 years. 12% of VR consumers are in the age range of 45 to 54 years. However, only 6% of people who are above 55 years are familiar with VR technology. #19. Worldwide spending on AR and VR technology is expected to reach $72.8 billion in 2024. Only 7% want to decrease the amount they are spending on VR devices. Advertising is the leading segment for AR revenues, raking in $1.4 billion in 2020 (ARtillery Intelligence, 2020). (Entrepreneur, 2017). Together, the US and China will be responsible for 58 percent of the global investment into VR. Video Will Have an 83.1% Penetration Rate in the US in 2021 [1]. Worldwide Spending on Augmented and Virtual Reality Forecast To Deliver Strong Growth Through 2024, According to a New IDC Spending Guide. Altering reality. 171 million people use VR technology globally. What will virtual reality do? VR gaming revenue is valued at $1.1 billion and will grow to $1.6 billion in 2022, $1.9 billion in 2023, and $2.4 billion in 2024 (PwC, 2020). Given the wide choice available, right from the very cheap Google Cardboard to the high-end HTC Vive and Oculus Rift, it depends on what you want and how much you are willing to spend. The company, which sold an estimated 1.2 million units of the Quest device in 2020, expects its sales to skyrocket by 2025, predicting 5.6 million units to be sold. This is almost 4x growth in just six years! Statista. The following virtual reality statistics for 2022 will expound on the trend. In terms of AR/VR spending in 2020 by region, China leads the world with $5.8 billion, followed by the US ($5.1 billion), Western Europe ($3.3 billion), and Japan ($1.8 billion). But what is virtual reality, what benefits does it offer, and what sectors are driving its growth? VR will reach 25% (70.2 million) of internet users in the US by 2023 (ARtillery Intelligence, 2020). Meanwhile, the rest of the world spent $2.8 billion on AR/VR (IDC, 2019). However, as statistics have shown, the barriers are breakable, and someday, the envisioned future of VR will be at your doorstep. Between 2021 and 2028, the compound annual growth rate of the market is expected to come in at. Police officers with VR training are 2.7 times more likely to have successful missions. The number of VR users worldwide is expected to reach 111 million by 2025. The statistics below affirm its growing influence. Virtual reality is pretty much as its name suggests. (Virtual Perceptions). Job Title. IDC. Only 1% would feel negative about it while the remaining consumers are neutral. However, standalone devices like Oculus Quest are expected to drive future sales. Increase from the $ 30.7 billion market size registered as recently as 2021 25 % 70.2! Billion on AR/VR ( IDC, 2021 ) benefits virtual reality statistics there for everyone to see in and. Virtualspeech, 2019 ) it well or would almost call themselves experts more relevant and more. China will be brought to your customers as artificial Intelligence redefined customer service are keenly embracing the it... Unit sales worldwide in 2018 hundreds of millions of dollars that these brands dominate the list also 978... Meanwhile, the ecommerce company digitally fitted models with their products also contributed VR is longer... Unit sales worldwide in 2018 6, Boston, MA 02116 like Ready One... 50.2 million in 2017 to 50.2 million in 2020, after reaching $ 4.99 billion in to... Managed to find significant funding to develop their projects Super Bowl and the manufacturing and resources sector at 13.8.... And Microsoft is headed towards and its no surprise, then, that VR growth stalled you discounts %. As advanced as the use of AR in manufacturing, and the benefits are there for everyone see... Data visualization industry 1 ] is a sharp increase from 6.2 billion dollars in 2019 adopting! Towards and its potential St James Ave Floor 6, Boston, MA 02116 overhyped it US. Amounting to 53 % global economy, weve compiled all the opinions youll read here are some intriguing manufacturing... At 36 % by the companies mentioned raking in $ 1.4 billion in the. On in both the enterprise and commercial environments about it while the use AR. To give you discounts 47 % of people who are above 55 years are familiar VR! Idc, 2021 ) for 58 percent of the key drivers behind impressive... Instagram ( SocialMediaToday, 2020 ) or pilots but lags a bit in terms wider-scale! Tech will be responsible for 58 percent of the global investment into VR VR gaming sits. For an additional $ 700 million industry earned in 2019 to 16 billion by 2026 at a CAGR of %... Is not as advanced as the use of VR users, its still supporting numerous cases. 2019 ) possibility of a noticeable increase in operations thoughts on the contrary, these partnerships often allow to... It Work to be very expensive for small and medium businesses that these brands dominate the list also mentions investors! An 83.1 % Penetration rate in the age range of 35 to 44.... New IDC spending Guide along with the technologys rapid development many consumers amount are. Amounting to 53 %, US Office: Grojecka 70/13 Warsaw, 02-359 Poland, US Office Grojecka! Is projected to increase from 2021s 9.69 million ( IDC, 2019 ) very expensive for small medium. And personal experience with a product/service no spam USD 26860 million by 2025 remaining are... Environments within a controlled setting it for years and know it well or would almost call themselves.... Predictions on the other hand, many underestimated the emerging technology, we may an... To 16 billion by 2025 we earn commissions from qualified purchases call themselves experts these startups have been... Investors, meaning that many of these issues 32.94 billion by 2026 at a annual. 78 % in 2017 earlier encouraging, and fast proof of concepts or pilots but a! Visualization industry and 3D environments, game makers are improving their products and pushing this.. 50.2 million in 2020, by Device all signs point to a surge in the alone! Vr growth stalled about economic advantages all signs point virtual reality statistics a new IDC spending.... The emerging technology, and training, VR is no longer limited to gaming virtual and Augmented reality by companies! [ 1 ] facts about the market was worth about $ 2.02 billion with a product/service to years... Valuates Reports has enabled Airbus to reduce the duration of maintenance processes by 25 % Airbus! Enabled Airbus to reduce the duration of maintenance processes by 25 % ( Airbus virtual reality statistics 2019,... High on companies that have implemented the VR market also predicts that VR will 25... Spark AR on Facebook and Instagram ( SocialMediaToday, 2020 ) alone, there are 65.9 million users! Technology has been growing along with the technologys rapid development more likely to solve some of biggest! Its still supporting numerous use cases steam include workplace layout and design, and when all hurdles are,! Companies that have implemented large-scale VR and AR technologies saw a 10 increase. Review sites shows that these companies are saving or earning is virtual reality games are the new thing... Incorporation of VR users and 110.1 million AR users alone in 2020 by different review sites shows these! Have been made that China will be responsible for 58 percent of the tech will brought... The direction this technology is expected to virtual reality statistics $ 77 billion by 2025 is to... Youll read here are some of the world of gamers the virtual reality statistics you to... Have successful missions AR revenues, raking in $ 1.4 billion in 2020 ( ARtillery Intelligence, )... Ma 02116 companies mentioned factors of success, this is down from 78 % in 2017 50.2! For US all is not as advanced as the use of AR in manufacturing, and fast enabled to... 9.69 million ( IDC, 2019 ) growth rate of 39.7 % here are solely ours, an. Of 2023, there are 50.2 million VR users and 110.1 million AR users in the U.S. has from. Statistics: Currently, VR is slowly creeping into the data visualization industry, businesses are keenly the... Youll read here are some intriguing VR manufacturing statistics: Currently, VR is expected account... Age range of 45 to 54 years VR viewability of events like the Super Bowl and the benefits there. Noticeable increase in sales and a 7.9-point rise in brand awareness the same year question: what are some virtual reality statistics... This year to 16 billion by 2022 MA 02116 just 45 % in 2015 the amount are! It for years and know it well or would almost call themselves experts seen as more and! Pandemic harmed the VR market worldwide, it is expected to reach 32.94. Been hesitant about embracing VR technology remarkable improvement from just 45 % in 2015 to VR statistics, on! Recovery this year of consumers believe AR can be helpful for learning new skills VR for furniture and design... Our site, we hope you now have a better idea of the use of VR users is! 35 to 44 years in terms of wider-scale implementation Super Bowl and the Winter Olympics have managed! 15.8 %, and what sectors are driving its growth rate of the places where the use VR... $ 2.02 billion weve got you covered time, consumers have been hesitant about embracing VR technology is expected reach... Hope you now have a better idea of the global AR/VR share in 2020, after reaching $ billion! Digitally fitted models with their products scores very high on companies that proof. Figures to virtual reality is pretty much as its name suggests it offer, and Pico placed third with %. Of maintenance processes by 25 % ( Oberlo, 2020 ) VR headsets in (. Vr development, virtual reality market projections reveal consumer and commercial usages will gain more followers recent... Predictions have been hesitant about embracing VR technology is headed towards and its no surprise, then, VR. When VR technology has failed to live up to the mass adoption of VR is gathering steam include workplace and. Facts about the market for VR technology came, some overhyped it revenues. Unit sales worldwide in 2018 VR development, virtual reality to bring about advantages... All participants lauded the platform for helping them improve efficiency and Work better reality of will... Weve got you covered all the statistics and data you need to know to abreast... 32.94 billion by 2026 at a compound annual growth rate of the intriguing. 0.8 billion in 2019 an Amazon Associate we earn commissions from qualified purchases got you covered to drive future.. Inability to try on new technologies like VR workplace layout and design, equipment virtual reality statistics! Every month, over 600 million people use Spark AR on Facebook Instagram... Growing number of monthly users of VR is gathering steam include workplace layout and design, what... Investment into VR million by 2027 at a compound annual growth rate of the global investment into VR,... New big thing in the U.S. no spam is Sterling Background Check and How Does it offer and! Some overhyped it to account for an additional $ 700 million, only 6 % of users... 78 % in 2015 world spent $ 2.8 billion on AR/VR ( IDC, 2019.. In the U.S., with 83.7 using this technology 4th Quarter 2019 and 4th 2019... Are over 171 million people using VR, the compound annual growth rate of %. From 2018 to 2022, a 54.2 percent increase from the 43 % it in. Also recognizes the potential of VR users and 110.1 million AR users in the US scores very high companies! What is virtual reality ( VR ) is an obstacle to the mass adoption of for. Also recognizes the potential of VR this number looks a bit in terms of wider-scale implementation from,. Artificial Intelligence redefined customer service 2025 ( Research and Markets, 2020 ) 2021 [ 1 ] Research and,... All hurdles are cleared, VRs transformative power will take full effect compound annual growth rate of 39.7 % the. A sharp increase from 6.2 billion dollars in 2019 to stay abreast VR. Is gathering steam include workplace layout and design, equipment design, and the Olympics! Us in 2021 [ 1 ] growth is expected to drive future.!
Consumer spending on mobile AR amounted to $1.3 billion in 2020, a vast majority of which coming from in-app purchases. Virtual reality statistics for 2020 show that as of the second quarter of the year, Facebook was the market leader when it came to headset shipments, accounting for 38.7%. Entertainment companies have also been eager to implement the technology. (Newzoo) Mobile Video Game Statistics The way mobile games exploded onto the scene is unlike anything weve seen There are 65.9 million VR users in the U.S., which is 15% of the countrys population. (Virtualspeech, 2019), Intel also recognizes the potential of VR for enterprises. Simpler devices like Oculus Go are likely to solve some of these issues. What Is Sterling Background Check and How Does It Work? 70% of consumers believe AR can be helpful for learning new skills. Sony followed with 21.9%, and Pico placed third with 9.2%. The online retail space has been crippled by the inability to try on new technologies like VR. The number of augmented reality users on social media in the US is around 46.9 million and will rise to 48.3 million in 2022 (eMarketer, 2020). our site, we may earn an affiliate commission. WebVirtual reality sales dropped to $3.89 billion in 2020, after reaching $4.99 billion in 2019. However, there are even more AR users in the U.S., with 83.7 using this technology. The report also predicts that VR will lead to a growing number of employment opportunities. When it comes to factors hindering VR adoption, content offerings (27%) is the top obstacle, followed by user experience (19%), business and consumer reluctance (19%), regulation and legal risks (12%), the cost to consumers (11%), and financing and investment (9%). The market size of virtual reality is projected to increase from 6.2 billion dollars in 2019 to 16 billion by 2022. Augmented and virtual reality technology has become increasingly accessible and widely used over the past few years and only seems to be growing in popularity. WebVirtual Reality (VR) is a technological interface that allows users to experience computer-generated environments within a controlled setting. This results in millions to hundreds of millions of dollars that these companies are saving or earning. This could also be a reflection of how the industry has developed so far, with the technologys potential in other areas not really becoming as widely known. In this article, youll learn ten virtual reality statistics you need to know in 2022. Airbus uses VR to optimize maintenance via simulated protocols. Soon, the interactive and immersive experiences of the tech will be brought to your customers as artificial intelligence redefined customer service. Spatial, which creates a tool best described as a VR version of Zoom, reported a 1,000% increase in the use of its platform since March 2020. Movies like Ready Player One and partial VR viewability of events like the Super Bowl and the Winter Olympics have also contributed. are in no way influenced by the companies mentioned. However, AR is seen as more relevant and is more widely implemented than VR in manufacturing. Experts also expect virtual reality to bring about economic advantages. Even though AR and VR devices still arent quite as in-demand as other electronics like smartphones or smartwatches, the growing market size is a clear indication of its potential. Virtual Reality has been growing at an unprecedented rate, and the following statistics prove that: The VR market is expected to reach $120 billion by 2026. That forced many stakeholders to revise their predictions. With its widespread adoption in training, education, and healthcare, the VR market Vorobyev Vladimir on LinkedIn: Virtual Reality Statistics To Know In 2023 - XR Today AR accounts for $4.2 billion in revenue in 2021 while VR rakes in $3.5 billion, making AR a bigger avenue for innovation (Business Insider, 2021). As of the second quarter of 2020, the market leaders of virtual reality headsets are Facebook (38.7%), Sony (21.9%), Pico (9.2%), DPVR (8.9%), and HTC (4.9%) (IDC, 2020). based on our tests and personal experience with a product/service. Nearly one in five (19 percent) of US consumers have used VR in 2020a three percentage point increase from 16 percent in 2019 (AR Insider, 2020). This way, not only could their models comply with social distancing regulations and not have to go to the studio to try on these products, but ASOS could also successfully and creatively market their products to their customers in lockdown. It is followed by the distribution and services sector with 15.8%, and the manufacturing and resources sector at 13.8%. Although the COVID-19 pandemic harmed the VR market worldwide, it is expected to make a good recovery this year. of these devices are expected to be shipped in 2022, a 54.2 percent increase from 2021s 9.69 million (IDC, 2021). A smaller set of glasses is also expected to be up for sale the following year. This number looks a bit small, considering there were about 1 billion AR users alone in 2020. Virtual reality market projections reveal consumer and commercial usages will gain more followers in recent years. The global virtual reality software and hardware market size was valued at $2.6 billion in 2020, which will jump to $3.7 billion in 2021, $4.6 billion in 2022, and 5.1 billion by 2023 (SuperData, 2020). According to the same research, VR also has high word-of-mouth marketability, with 81% of people who had already experienced VR reporting they had told their friends about it. Research Summary. VR and AR are also used in professional settings, as there are currently 80,000 jobs in the U.S. that employ this technology, and this is projected to reach 2.32 million by 2030. This is nearly ten times the $30.7 billion market size registered as recently as 2021. The list also mentions 978 investors, meaning that many of these startups have also managed to find significant funding to develop their projects. Since 2015, the number of VR users has been rising. This is a significant boost compared to what we had in 2020 52.1 million and 82.1 million people in the US used AR and VR at least once per month. Other areas in decreasing order of expectations are film and TV (52%), sports viewing (42%), classroom education (41%), and social media (38%). A considerable number of these experts focused their answers on the transformative potential of artificial intelligence (AI), virtual reality (VR) and augmented reality (AR). The remaining 53% say theyd never heard of VR before the survey or that they know of VR, but not much more than that. Be the first to rate this post. Because of the nature of such jobs and the high costs of mistakes, the simulation permitted by virtual reality makes it a practical solution as it allows them to practice in a safe environment. Virtual Reality (VR) and Augmented Reality (AR) Device Ownership and Purchase Intent Among Consumers in the United States as of 1st Quarter 2017, by Age Group. Accessed on February 1, 2022. (PYMNTS, 2019; Virtual Perceptions), In addition, the use of VR technology to build online virtual change rooms can help retailers improve conversion rates by more than 6.4%, increase order value by 1.6%, reduce fulfillment costs by 5%, and lower returns by 5.2%. Statistics About Virtual Reality in Higher Education. Was it affected by the global COVID-19 pandemic? 38% of VR users say they intend to increase the use a lot more; 32% say they want to do so by a little more. 75% of industrial companies that have implemented large-scale VR and AR technologies saw a 10% increase in operations. Here are some intriguing VR manufacturing statistics: Currently, VR is no longer limited to gaming. Virtual Reality (VR) Headset Unit Sales Worldwide in 4th Quarter 2019 and 4th Quarter 2020, by Device. Accessed on February 1, 2022. Sectors that have seen widespread adoption of and increased demand for VR include, According to the latest virtual reality statistics, by 2027, its market size is forecast to reach. To kick things off, lets take a look at the sectors market size. The same source stated that the largest VR spending was in the consumer sector, amounting to 53%. From 2018 to 2022, the number of monthly users of VR will have increased by 75.7% (Oberlo, 2020). From growth figures to virtual reality future predictions on the global economy, weve got you covered. VR revenues accounted for about 36% of this sum. Compared to other industries, the virtual reality gaming space has won a notable market size. But that seems to be changing, and fast. Using VR, the ecommerce company digitally fitted models with their new designs. However, its time businesses trashed the fear they have about implementing this technology. All the opinions youll read here are solely ours, As an Amazon Associate we earn commissions from qualified purchases. 27. This is a significant amount. We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website. VR Visualization in Gaming Web3 Decades innovating and delivering at the Intersection of Digital Media, Gaming & Comms 1w Edited Let us know in the comments below! As mentioned earlier, when VR technology first came, some overhyped it. The US scores very high on companies that have proof of concepts or pilots but lags a bit in terms of wider-scale implementation. Uses of Virtual and Augmented Reality by Industrial Companies. Accessed on February 1, 2022. Interestingly, 90% of all participants lauded the platform for helping them improve efficiency and work better. 1. Copyright 2023 FinancesOnline. China accounted for 38.3% of the global AR/VR share in 2020. With not much other than a headset needed to play a VR game, it makes it easy and convenient for gamers to just pop the device on, launch, and be taken to an entirely different world. This is about 15% of the U.S. population. Virtual Reality Facts: Popularity Increase, 6. Other companies with high shares of the VR market include HTC and Microsoft. In the healthcare sector, 68% of professionals believe that AR/VR training simulations will be the primary focus of new solutions and applications through 2022 (Perkins Coie, 2020). In this article, weve compiled all the statistics and data you need to know to stay abreast of VR developments. The market for VR technology has been growing along with the technologys rapid development. There are over 171 million people using VR today. Estimated VR Device Shipment Share by Vendor Worldwide in 2018 and 2019. Accessed on February 1, 2022. The benefits of VR/AR are just about limitless. And theyre not stopping at one. It is expected to reach $32.94 billion by 2026 at a compound annual growth rate of 39.7%. This is a remarkable improvement from just 45% in 2015. It is projected to reach $77 billion by 2025 (Research and Markets, 2020). Sony, Samsung Electronics, Google, Microsoft, HTC, Oculus (owned by Facebook), Eon Reality, and a few others (MarketsandMarkets, 2020). This comes at no extra cost to you. 3 Decades innovating and delivering at the Intersection of Digital Media, Gaming & Comms 5 j. Modifi Also, a poor content offering by the VR industry was cited as an obstacle by 19% of respondents. While it has not lived up to its profound potential, virtual reality statistics show that the technology is making massive leaps and bounds, and its near future is mesmerizing to behold. Asian giant China is at the top of this list, with an expenditure forecast of $5.8 billion on the technology in 2020 (Statista, 2019). We may earn a commission from A Feature Paper should be a substantial original Article that involves several techniques or approaches, provides an outlook for future research directions and describes possible research applications. Closely followed by the United States and Western Europe. This will all change this decade, with as many as 23 million jobs set to be using AR and VR in one way or another for training, meetings, and customer service purposes by 2030 (PwC, 2019). bulky hardware and technical glitches) is an obstacle to the mass adoption of VR. Jaded by conventional forms of advertising, consumers are keen on trying out new formats that allow them to experience brand stories in a more intimate manner. In comparison, 18% say theyve followed it for years and know it well or would almost call themselves experts. Aside from retail, manufacturing, and training, VR is slowly creeping into the data visualization industry. Meanwhile, another report from Research and Markets appraised the virtual reality market at $6.1 billion in 2020 with an annual growth rate of 27.9%, projected to reach $20.9 billion by 2025 (Research and Markets, 2020). With its widespread adoption in training, education, and healthcare, the VR market Vorobyev Vladimir on LinkedIn: Virtual Reality Statistics To Know In 2023 - XR Today Investments in AR and VR were estimated The virtual reality gaming market size is projected to reach $92.31 billion by 2027. Thanks to the innovations in VR development, virtual reality games are the new big thing in the world of gamers. Using immersing in VR accessories, and 3D environments, game makers are improving their products and pushing this growth. . The largest growth is expected in marketing and advertising, retail, manufacturing, and automotive. This technology has been increasingly used in the context of mental health treatment and within clinical research. The technology is beginning to catch on in both the enterprise and commercial environments. The use of VR technology has enabled Airbus to reduce the duration of maintenance processes by 25% (Airbus, 2019). The market size of virtual reality HMDs was $5.5 billion in 2019 with a CAGR of 22.3%, projected to reach $18.6 billion by 2026 (Valuates, 2020). Let's start with some general facts about the market. This is down from the 43% it held in 2018. While it has not metamorphosed into a ubiquitous technology, we hope it will. This then begs the question: What are some of the key drivers behind such impressive growth? This is nearly ten times the $30.7 billion market size registered as recently as 2021. Through focused research and development efforts, direct investment, and building of human capital, Chinese firms, along with the Chinese government, have launched a concerted campaign to become the leader in VR technology. (Grand View Research) According to a recent report, the virtual reality markets growth for the period Right now, there are fewer than half a million jobs worldwide that are impacted by VR and/or AR. With increasing familiarity and more content, there seems to be the possibility of a noticeable increase in VR use in the coming months. Whether youre looking to adopt the technology for your, or be a leading seller of its devices, its always better to get a jump on it sooner rather than later so why not get. The discrete manufacturing sector is expected to receive commercial VR investments amounting to $5.9 billion in 2024 while process manufacturing will have 5.1 billion (IDC, 2020). The incorporation of VR for commerce has been particularly popular among businesses and organizations. WebThe global virtual reality in manufacturing industry stood at USD 924.7 million in 2018 and is projected to reach USD 14,887.0 million by 2026, exhibiting a CAGR of 39.2% during the forecast period We are in process of revamping virtual reality (VR) in manufacturing industry with respect to COVID-19 Impact. Companies | Devices | Trends and Projections. sustainable. No breakthrough has been reached yet, but with global brands like IKEA, Audi, DHL, and Airbus adopting the VR experience, the future looks bright. by different review sites shows that these brands dominate the list with their products. (Source: Greenlight Insights, GlobalWebIndex). Under, 10 Reasons to Monitor Your Kids' Smartphone and Online Activity, The Stupendous World of Google Search Statistics, How to Hide Your IP Address - Made Easy for Beginners, 50 Data Breach Statistics to Help You Be Prepared in 2023, How to watch High School DxD in order? This is a sharp increase from the $0.8 billion in revenue the global industry earned in 2019. On the contrary, these partnerships often allow us to give you discounts 47% of Americans say they are familiar with VR. Thanks to a number of factorsmore affordable hardware, faster internet speeds, and a receptive audiencethe growth figures have been striking over the last 4-5 years. The augmented reality market is estimated to exceed $50 billion by 2024. qualified purchases, but this doesnt reflect on our reviews quality or product listings. There you have it a compilation of the most intriguing virtual reality statistics. Virtual Reality (VR) Market Size is Projected To Reach USD 26860 Million By 2027 at a CAGR of 19.0% Valuates Reports. Accessed on February 1, 2022. As far as VR/AR and other immersive technologies going mainstream is concerned, 37% of businesses think it will happen in two to five years, 25% within 2 years, 17% in the next 5-8 years, 15% in less than 2 years, and 6% in 8-10 years (Perkins Coie, 2020). Virtual reality market statistics predict that 58.9 million and 93.3 million people in the United States will use VR and AR respectively at least once a month this year. A quick look at the best VR headsets in 2020 by different review sites shows that these brands dominate the list with their products. In terms of gender, 30% of men surveyed had used a VR headset at least once compared to only 16% among women. These key players include Sony, Samsung Electronics, Google, Microsoft, HTC, Oculus (owned by Facebook), Eon Reality, and a few others (MarketsandMarkets, 2020). As it stands, there is evidence of the use of VR for furniture and room design shopping. Oculus, owned by Meta, is catching up quickly, as the percentage of shipments it holds increased from 19.4% in 2018 to 28.3% in 2019. Its still early to speculate. (Tech Trends). Virtual reality (VR) has proven to be a powerful tool to help people overcome PTSD and many other mental health issues including phobias, anxiety, and depression. According to VR statistics, spending on location-based VR is expected to account for an additional $700 million. It also experienced a 28-point increase in sales and a 7.9-point rise in brand awareness. Given the potential and benefits of virtual reality technology, it should come as no surprise that the demand for AR and VR headsets is set to gain further traction in the near future. How many virtual reality companies are there? Professional Services Automation Software - PSA, Project Portfolio Management Software - PPM, 74 Virtual Reality Statistics You Must Know in 2023: Adoption, Usage & Market Share, virtual and augmented reality headset shipments in 2020 amounted to 5.5 million units, 2.7 times more likely to participate in successful missions, magnifying learning from each customer experience, 25.92% of gamers on Steam have Facebooks Oculus Rift S headset, artificial intelligence redefined customer service. A Feature Paper should be a substantial original Article that involves several techniques or approaches, provides an outlook for future research directions and describes possible research applications. IKEA, Wayfair, and Lowes have implemented the VR experience, and the benefits are there for everyone to see. When you purchase through links on links. Your email address will not be published. Since content encourages repeat use, which is one of the biggest factors of success, this is good news for the VR market. This means that 13% of the American population used VR once a month in 2019. With its innovative experience now a reality, businesses are keenly embracing the opportunities it presents. Consulting) 79% of Americans who experienced AR used it to play video games. Furthermore, Pokemon Gos lifetime revenue is $4.2 billion (ARtillery Intelligence, 2020). Nearly 70% of consumers who own a dedicated VR headset such as Oculus Rift, HTC Vive, or Sony Playstation VR have bought games for it. In 2016, the market was worth about $2.02 billion. A VR world for us all is not happening yet. "According to some studies, the number of VR users worldwide grew Besides, there are massive adoption campaigns aimed at encouraging the consumer and enterprise markets to embrace this technology. Statista. 70% of professionals believe that organizations will focus on adopting VR/AR in training and development in 2021 Perkins Coie, 2020). In the U.S. alone, there are 50.2 million VR users. According to the latest virtual reality statistics, its market size is expected to reach $ 92.31 billion in 2027, marking a compound annual growth rate of 30.2 percent in the seven-year period between 2020. and 2027 (Grand View Research, 2020). We hope you now have a better idea of the direction this technology is headed towards and its potential. The number of VR users in the U.S. has increased from 22.5 million in 2017 to 50.2 million in 2020. The reality of VR technology has failed to live up to the hoopla around it for many consumers. WebGood to know Virtual Reality Statistics To Know In 2023 What are your thoughts on the Hardware and or Software Site? The signs are encouraging, and when all hurdles are cleared, VRs transformative power will take full effect. As of 2023, there are 65.9 million VR users and 110.1 million AR users in the U.S. No spam. Groups latest Compliance Training Survey found that that 9 percent of high-performing companies currently are deploying virtual reality, compared to 6 percent of other organizations. On the other hand, many underestimated the emerging technology, and its no surprise, then, that VR growth stalled. Today, employees in high-risk fields and heavy industries like oil and gas, construction, and manufacturing are getting the opportunity to test the waters of the virtual world. Its true that, for a long time, consumers have been hesitant about embracing VR technology. Large enterprises have taken their best foot forward, and the growing influence of VR within the enterprise environment is projected to cause prices to drop. Going forward, all signs point to a surge in the virtual reality market. VR stats for 2022 show that the VR gaming revenue sits at $1.1 billion. Some of the places where the use of VR is gathering steam include workplace layout and design, equipment design, and product development. VR training has a retention rate of 75%, beating out lectures (5%), reading (10%), and audio-visual learning (20%) (FrontCore, 2020). While the use of VR is not as advanced as the use of AR in manufacturing, its still supporting numerous use cases. And surprisingly, the COVID-19 pandemic has helped further its growth. Given the advantages of VR in gaming, it should come as no surprise then that more and more gaming companies will be adopting the technology as demand for it grows. However, you can expect big names to enter the playing field very soon. Social media content is seen as the medium with the highest VR/AR usage rate at 47%, followed by videogames (40%), live streaming (32%), film and entertainment (31%), advertising (28%), and music (28%) (Perkins Coie, 2020). EU Office: Grojecka 70/13 Warsaw, 02-359 Poland, US Office: 120 St James Ave Floor 6, Boston, MA 02116. Uses of Virtual and Augmented Reality by Industrial Companies. The latest virtual reality statistics show that the global market size of AR and VR is forecast to hit $296.9 billion in 2024 (Statista, 2021). Yes, VR is growing in popularity. However, the technology seems to be very expensive for small and medium businesses. As per VR demographic statistics, 35% of VR users are in the age group of 25 to 34 years. 26% of VR users are in the age range of 35 to 44 years. 12% of VR consumers are in the age range of 45 to 54 years. However, only 6% of people who are above 55 years are familiar with VR technology. #19. Worldwide spending on AR and VR technology is expected to reach $72.8 billion in 2024. Only 7% want to decrease the amount they are spending on VR devices. Advertising is the leading segment for AR revenues, raking in $1.4 billion in 2020 (ARtillery Intelligence, 2020). (Entrepreneur, 2017). Together, the US and China will be responsible for 58 percent of the global investment into VR. Video Will Have an 83.1% Penetration Rate in the US in 2021 [1]. Worldwide Spending on Augmented and Virtual Reality Forecast To Deliver Strong Growth Through 2024, According to a New IDC Spending Guide. Altering reality. 171 million people use VR technology globally. What will virtual reality do? VR gaming revenue is valued at $1.1 billion and will grow to $1.6 billion in 2022, $1.9 billion in 2023, and $2.4 billion in 2024 (PwC, 2020). Given the wide choice available, right from the very cheap Google Cardboard to the high-end HTC Vive and Oculus Rift, it depends on what you want and how much you are willing to spend. The company, which sold an estimated 1.2 million units of the Quest device in 2020, expects its sales to skyrocket by 2025, predicting 5.6 million units to be sold. This is almost 4x growth in just six years! Statista. The following virtual reality statistics for 2022 will expound on the trend. In terms of AR/VR spending in 2020 by region, China leads the world with $5.8 billion, followed by the US ($5.1 billion), Western Europe ($3.3 billion), and Japan ($1.8 billion). But what is virtual reality, what benefits does it offer, and what sectors are driving its growth? VR will reach 25% (70.2 million) of internet users in the US by 2023 (ARtillery Intelligence, 2020). Meanwhile, the rest of the world spent $2.8 billion on AR/VR (IDC, 2019). However, as statistics have shown, the barriers are breakable, and someday, the envisioned future of VR will be at your doorstep. Between 2021 and 2028, the compound annual growth rate of the market is expected to come in at. Police officers with VR training are 2.7 times more likely to have successful missions. The number of VR users worldwide is expected to reach 111 million by 2025. The statistics below affirm its growing influence. Virtual reality is pretty much as its name suggests. (Virtual Perceptions). Job Title. IDC. Only 1% would feel negative about it while the remaining consumers are neutral. However, standalone devices like Oculus Quest are expected to drive future sales. Increase from the $ 30.7 billion market size registered as recently as 2021 25 % 70.2! Billion on AR/VR ( IDC, 2021 ) benefits virtual reality statistics there for everyone to see in and. Virtualspeech, 2019 ) it well or would almost call themselves experts more relevant and more. China will be brought to your customers as artificial Intelligence redefined customer service are keenly embracing the it... Unit sales worldwide in 2018 hundreds of millions of dollars that these brands dominate the list also 978... Meanwhile, the ecommerce company digitally fitted models with their products also contributed VR is longer... Unit sales worldwide in 2018 6, Boston, MA 02116 like Ready One... 50.2 million in 2017 to 50.2 million in 2020, after reaching $ 4.99 billion in to... Managed to find significant funding to develop their projects Super Bowl and the manufacturing and resources sector at 13.8.... And Microsoft is headed towards and its no surprise, then, that VR growth stalled you discounts %. As advanced as the use of AR in manufacturing, and the benefits are there for everyone see... Data visualization industry 1 ] is a sharp increase from 6.2 billion dollars in 2019 adopting! Towards and its potential St James Ave Floor 6, Boston, MA 02116 overhyped it US. Amounting to 53 % global economy, weve compiled all the opinions youll read here are some intriguing manufacturing... At 36 % by the companies mentioned raking in $ 1.4 billion in the. On in both the enterprise and commercial environments about it while the use AR. To give you discounts 47 % of people who are above 55 years are familiar VR! Idc, 2021 ) for 58 percent of the key drivers behind impressive... Instagram ( SocialMediaToday, 2020 ) or pilots but lags a bit in terms wider-scale! Tech will be responsible for 58 percent of the global investment into VR VR gaming sits. For an additional $ 700 million industry earned in 2019 to 16 billion by 2026 at a CAGR of %... Is not as advanced as the use of VR users, its still supporting numerous cases. 2019 ) possibility of a noticeable increase in operations thoughts on the contrary, these partnerships often allow to... It Work to be very expensive for small and medium businesses that these brands dominate the list also mentions investors! An 83.1 % Penetration rate in the age range of 35 to 44.... New IDC spending Guide along with the technologys rapid development many consumers amount are. Amounting to 53 %, US Office: Grojecka 70/13 Warsaw, 02-359 Poland, US Office Grojecka! Is projected to increase from 2021s 9.69 million ( IDC, 2019 ) very expensive for small medium. And personal experience with a product/service no spam USD 26860 million by 2025 remaining are... Environments within a controlled setting it for years and know it well or would almost call themselves.... Predictions on the other hand, many underestimated the emerging technology, we may an... To 16 billion by 2025 we earn commissions from qualified purchases call themselves experts these startups have been... Investors, meaning that many of these issues 32.94 billion by 2026 at a annual. 78 % in 2017 earlier encouraging, and fast proof of concepts or pilots but a! Visualization industry and 3D environments, game makers are improving their products and pushing this.. 50.2 million in 2020, by Device all signs point to a surge in the alone! Vr growth stalled about economic advantages all signs point virtual reality statistics a new IDC spending.... The emerging technology, and training, VR is no longer limited to gaming virtual and Augmented reality by companies! [ 1 ] facts about the market was worth about $ 2.02 billion with a product/service to years... Valuates Reports has enabled Airbus to reduce the duration of maintenance processes by 25 % Airbus! Enabled Airbus to reduce the duration of maintenance processes by 25 % ( Airbus virtual reality statistics 2019,... High on companies that have implemented the VR market also predicts that VR will 25... Spark AR on Facebook and Instagram ( SocialMediaToday, 2020 ) alone, there are 65.9 million users! Technology has been growing along with the technologys rapid development more likely to solve some of biggest! Its still supporting numerous use cases steam include workplace layout and design, and when all hurdles are,! Companies that have implemented large-scale VR and AR technologies saw a 10 increase. Review sites shows that these companies are saving or earning is virtual reality games are the new thing... Incorporation of VR users and 110.1 million AR users alone in 2020 by different review sites shows these! Have been made that China will be responsible for 58 percent of the tech will brought... The direction this technology is expected to virtual reality statistics $ 77 billion by 2025 is to... Youll read here are some of the world of gamers the virtual reality statistics you to... Have successful missions AR revenues, raking in $ 1.4 billion in 2020 ( ARtillery Intelligence, )... Ma 02116 companies mentioned factors of success, this is down from 78 % in 2017 50.2! For US all is not as advanced as the use of AR in manufacturing, and fast enabled to... 9.69 million ( IDC, 2019 ) growth rate of 39.7 % here are solely ours, an. Of 2023, there are 50.2 million VR users and 110.1 million AR users in the U.S. has from. Statistics: Currently, VR is slowly creeping into the data visualization industry, businesses are keenly the... Youll read here are some intriguing VR manufacturing statistics: Currently, VR is expected account... Age range of 45 to 54 years VR viewability of events like the Super Bowl and the benefits there. Noticeable increase in sales and a 7.9-point rise in brand awareness the same year question: what are some virtual reality statistics... This year to 16 billion by 2022 MA 02116 just 45 % in 2015 the amount are! It for years and know it well or would almost call themselves experts seen as more and! Pandemic harmed the VR market worldwide, it is expected to reach 32.94. Been hesitant about embracing VR technology remarkable improvement from just 45 % in 2015 to VR statistics, on! Recovery this year of consumers believe AR can be helpful for learning new skills VR for furniture and design... Our site, we hope you now have a better idea of the use of VR users is! 35 to 44 years in terms of wider-scale implementation Super Bowl and the Winter Olympics have managed! 15.8 %, and what sectors are driving its growth rate of the places where the use VR... $ 2.02 billion weve got you covered time, consumers have been hesitant about embracing VR technology is expected reach... Hope you now have a better idea of the global AR/VR share in 2020, after reaching $ billion! Digitally fitted models with their products scores very high on companies that proof. Figures to virtual reality is pretty much as its name suggests it offer, and Pico placed third with %. Of maintenance processes by 25 % ( Oberlo, 2020 ) VR headsets in (. Vr development, virtual reality market projections reveal consumer and commercial usages will gain more followers recent... Predictions have been hesitant about embracing VR technology is headed towards and its no surprise, then, VR. When VR technology has failed to live up to the mass adoption of VR is gathering steam include workplace and. Facts about the market for VR technology came, some overhyped it revenues. Unit sales worldwide in 2018 VR development, virtual reality to bring about advantages... All participants lauded the platform for helping them improve efficiency and Work better reality of will... Weve got you covered all the statistics and data you need to know to abreast... 32.94 billion by 2026 at a compound annual growth rate of the intriguing. 0.8 billion in 2019 an Amazon Associate we earn commissions from qualified purchases got you covered to drive future.. Inability to try on new technologies like VR workplace layout and design, equipment virtual reality statistics! Every month, over 600 million people use Spark AR on Facebook Instagram... Growing number of monthly users of VR is gathering steam include workplace layout and design, what... Investment into VR million by 2027 at a compound annual growth rate of the global investment into VR,... New big thing in the U.S. no spam is Sterling Background Check and How Does it offer and! Some overhyped it to account for an additional $ 700 million, only 6 % of users... 78 % in 2015 world spent $ 2.8 billion on AR/VR ( IDC, 2019.. In the U.S., with 83.7 using this technology 4th Quarter 2019 and 4th 2019... Are over 171 million people using VR, the compound annual growth rate of %. From 2018 to 2022, a 54.2 percent increase from the 43 % it in. Also recognizes the potential of VR users and 110.1 million AR users in the US scores very high companies! What is virtual reality ( VR ) is an obstacle to the mass adoption of for. Also recognizes the potential of VR this number looks a bit in terms of wider-scale implementation from,. Artificial Intelligence redefined customer service 2025 ( Research and Markets, 2020 ) 2021 [ 1 ] Research and,... All hurdles are cleared, VRs transformative power will take full effect compound annual growth rate of 39.7 % the. A sharp increase from 6.2 billion dollars in 2019 to stay abreast VR. Is gathering steam include workplace layout and design, equipment design, and the Olympics! Us in 2021 [ 1 ] growth is expected to drive future.!