In 2020, outside of gaming, the sectors that were anticipated to have the most immersive technology (including AR/VR) disruptions are healthcare devices (38%), education (28%), workforce development (24%), manufacturing (21%), automotive (19%), marketing and advertising (16%), logistics/transportation (16%), retail (15%), military (13%), and commercial real estate (13%) (Perkins Coie, 2020). Product pages that offered AR and 3D experiences drove a 13% increase in the average size of orders and a 21% spike in revenues per visit (Retail Customer Experience, 2020). 10 Virtual Reality Statistics You Should Know in 2022 - Oberlo Most users are also happy with the experience, with 55 percent of them saying theyre either extremely or moderately satisfied. Besides, the company projected that the 5-year ROI of a single VR-based course could reach 300%. The VR market size is forecast to reach $92.31 billion in 2027 (Grand View Research, 2020). 
171 million people use VR technology globally. Virtual Reality Growth in the Gaming Market, 10. This will all change this decade, with as many as. However, there are even more AR users in the U.S., with 83.7 using this technology. Let's start with some general facts about the market. The number of VR users worldwide is expected to reach 111 million by 2025. 
Until recently, consumers were dying with the hope that the technology will soon change the way they shop in-store and do things online. Reports go further to reveal that 20% cite customer and business hesitation as an obstacle to embracing VR. 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. The projections for the next few years are even more awe-inspiring. Virtual Reality: Future Predictions on Economy and Employment, 7. Virtual Reality (VR) Headset Unit Sales Worldwide in 4th Quarter 2019 and 4th Quarter 2020, by Device. The market for VR technology has been growing along with the technologys rapid development. Altering reality. With his experience in software development and extensive knowledge of SaaS management, he writes mostly about emerging B2B technologies and their impact on the current business landscape. There are 65.9 million VR users in the U.S., which is 15% of the countrys population. Retail is seen to deliver the biggest commercial investment in AR/VR technology in 2024 at $7.3 billion (IDC, 2020). The US is the second-largest investor and is forecast to spend $5.1 billion on virtual reality technology. However, you can expect big names to enter the playing field very soon. Its predicted that commercial AR and VR purchases will add up to about $10.9 billion, while consumer spending will amount to $17.6 billion in 2024. The biggest driver of this is expected to come from millennials, whose demand for tech-advanced games will push game developers to rely more on VR to meet rising standards. The reality of VR technology has failed to live up to the hoopla around it for many consumers. Within repair and maintenance, jobs that get done using AR and VR include viewing of reference videos and digital manuals, remote expert assistance, visualization of specific components and functions behind physical barriers, and superimposition of step-by-step instructions. We now know the size of the market. 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%). According to VR statistics, spending on location-based VR is expected to account for an additional $700 million. This number has come down from 78% in 2017 earlier. 40% of consumers would spend more on products that can be customized in AR (Threekit, 2020). This will represent an impressive increase of more than seven-fold from 2020 to 2025. 3 Decades innovating and delivering at the Intersection of Digital Media, Gaming & Comms 5d Edited 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 The incorporation of VR for commerce has been particularly popular among businesses and organizations. WebVirtual Reality (VR) is no longer just a tool for gaming and entertainment. 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. The remaining 53% say theyd never heard of VR before the survey or that they know of VR, but not much more than that. This was also the case in 2017 when Samsung Gear VR was the most well-known device among the general population as well as gamers, even though the brands awareness seems to have come down in the last two years. Among social VR activities of interest, playing games, watching videos, and video communication rank the highest. Your email address will not be published. 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. In 2020, the world invested $12 billion into VR/AR gaming. Statista. In this article, youll learn ten virtual reality statistics you need to know in 2022. This is nearly ten times the $30.7 billion market size registered as recently as 2021. The signs are encouraging, and when all hurdles are cleared, VRs transformative power will take full effect. WebGood to know Virtual Reality Statistics To Know In 2023 What are your thoughts on the Hardware and or Software Site? , which marks a compound annual growth rate of 30.2 percent in the seven-year period between 2020 and 2027 (Grand View Research, 2020). 48% of US consumers have had at least one VR experience. Larger economies, including the US, UK, Germany, and China, are expected to be the most impacted. However, its time businesses trashed the fear they have about implementing this technology. In comparison, PlayStations VR headset sold 125,000 units at the end of 2020. 1. In the same research, the augmented reality market was valued at $15.3 billion in 2020 with an annual growth rate of 38.1%. Other major sectors seeing investment are education, health care, and real estate. In 2016, the market was worth about $2.02 billion. While more conventional and non-tech-intensive methods like F&B offerings, personalized experiences, and live product demonstrations remain the main draws for customers in physical stores, virtual reality trends show that VR experiences are catching up as a technology investment that business owners can make to encourage customers to spend more. The latest virtual reality statistics show that. 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). IDC. According to eMarketer, the number of VR users in the US is 57.4 million while the number of AR users is 90.9 million (eMarketer, 2020). our site, we may earn an affiliate commission. Be the first to rate this post. From growth figures to virtual reality future predictions on the global economy, weve got you covered. The VR market is estimated to reach $20.9 billion by 2025. 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. (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%. The number of VR users in the U.S. has increased from 22.5 million in 2017 to 50.2 million in 2020. 47% of Americans are at least somewhat familiar with VR, up from 41% who said the same just three months earlier. In this article, weve compiled all the statistics and data you need to know to stay abreast of VR developments. No votes so far! Analysts say that the oil and gas and manufacturing industries are expected to be the primary driving forces of this growth. He has hired over 50 people in his career, been hired five times, and wants to help you land your next job. This means that 13% of the American population used VR once a month in 2019. And theyre not stopping at one. The major players in the current VR market include Sony, Samsung Electronics, Google, Microsoft, HTC, and Oculus (MarketsandMarkets, 2020). Let us know in the comments below! In 2017, there were just 22 million VR users in the U.S., and by 2020 there were 50.2 million users. Number of Jobs Enhanced by Augmented Reality (AR) and Virtual Reality (VR) in the United States From 2019 to 2030. Accessed on February 1, 2022. The augmented reality market is estimated to exceed $50 billion by 2024. Most people see VRs greatest potential in gaming, while 52% of responses cited TV and Virtual Reality Specialist Statistics By Race. Experts also expect virtual reality to bring about economic advantages. Budget and mid-range users are more likely to find issues with the user interface or the viability of VR. Since content encourages repeat use, which is one of the biggest factors of success, this is good news for the VR market. Forecast for the Number of Active Virtual Reality Users Worldwide From 2014 to 2018. Accessed on February 1, 2022. If you have an advertising format where 1 in 5 customers are already in your favor for just using that format, its your battle to lose. Like these virtual reality statistics youll read indicate, the time is approaching for this technology to take off among consumers as well as in the industry. Uses of Virtual and Augmented Reality by Industrial Companies. Accessed on February 1, 2022. Whats more, AR and VR headsets are projected to have massive sales of over 30 million units annually by the end of 2023. Has VR reached maturity? Research has shown that training that incorporates VR reduces the chances of work-related injuries by 43%. But the industry is growing and there are surely amazing things ahead. These numbers were collected in November 2019 and are up from the 41% who said they were at least somewhat familiar with VR in August 2019, showing that the amount of awareness is going up quickly. The global virtual reality A report by Greenlight Insights predicted global AR and VR revenues totaling $209 billion in 2021. Movies like Ready Player One and partial VR viewability of events like the Super Bowl and the Winter Olympics have also contributed. Nearly one in five (19 percent) US consumers will use VR in 2020 (AR Insider, 2020). Research Summary. The 360-degree videos hosted on Facebook have generated over 580 million views. 61% of customers prefer online shops that offer AR experiences (BigCommerce, 2020). Globe Newswire. So how well prepared are you for the future when VR becomes a fixture of daily life? Despite it being a relatively nascent technology, the adoption of virtual reality across companies, organizations, and even governments worldwide has been widespread as its potential becomes clearer with every new development. Hardware issues, lack of content, and low growth beyond gaming are some of the problems making people think of VR as an overhyped fad. This practice will Similar contrasting figures for other metrics are 55% vs. 23% for safety increase, 52% vs. 21% for productivity increase, and 47% vs. 19% for complexity reduction. COVID-19 helped accelerate the CAGRs of AR and VR to 38.1 and 27.9%, respectively (Yahoo Finance, 2020). Between 2021 and 2028, the compound annual growth rate of the market is expected to come in at. WebIntroduction: This study aimed to evaluate the effectiveness of a virtual reality based intervention in processing speed and working memory in students with ADHD symptomatology.Methods: A randomized experimental study was conducted, with a sample consisting of 25 adult participants recruited from the Escola Superior de Sade do If youre looking for answers to these questions and more, youve come to the right place. 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. The expansion of VR devices in India and China has been driving the virtual reality market The estimation of the combined global VR and AR market by IDC for 2020 was $12 billion. This is a sharp increase from the $0.8 billion in revenue the global industry earned in 2019. 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. According to a worldwide survey of startup founders, tech company executives, investors, and consultants, 59% of respondents believe gaming will dominate the investment directed to the development of AR/VR technology. VR Visualization in Gaming VR experiences can significantly influence the purchasing decision of customers. Uses of Virtual and Augmented Reality by Industrial Companies. Our reviews Some of the places where the use of VR is gathering steam include workplace layout and design, equipment design, and product development. Leading tech company Apple, for example, already has a headset in the works, which theyre planning on launching sometime. Source 1 and Source 2 Even bigger, Jesse Schell from Schell Games predicts that the market size of VR will increase to 22.5 billion by 2025. This is down from the 43% it held in Using VR, the ecommerce company digitally fitted models with their new designs. Sectors that have seen widespread adoption of and increased demand for VR include gaming and entertainment (Grand View Research, 2019). WebVirtual Reality (VR) is no longer just a tool for gaming and entertainment. AR is even more commonplace in the U.S. and has 83.7 million users. Consumer spending on mobile AR amounted to $1.3 billion in 2020, a vast majority of which coming from in-app purchases. (Source: Greenlight Insights, GlobalWebIndex). Virtual reality market projections reveal consumer and commercial usages will gain more followers in recent years. Airbus uses VR to optimize maintenance via simulated protocols. It accounts for 17.7% and 28.1% of the total US population. 2016 Virtual Reality (VR) Market Size Revenue To Grow by USD 26.89 Billion in 2022. On the AR side of things, the biggest hindrances are user experience (32%), content offerings (18%), business and consumer reluctance (15%), regulation and legal risks (14%), financing and investment (11%), and cost to consumers (7%) (Perkins Coie, 2020). (Intel), Furthermore, Boeing is a prime example of how heavy industry can implement VR in trainING. The truth of the matter is: VR has the potential to push the boundaries of ordinary life. VR can be used by many companies. Mainly, in-store retailers are determined to use VR technology to repress the home-try-on effect, which has been a vexing problem. 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? The VR industry market size is $7.72 billion. 6. 3 Decades innovating and delivering at the Intersection of Digital Media, Gaming & Comms 5 j. Modifi people in the US will use the technology at least once per month in 2020 (eMarketer, 2020). The standalone VR HMD owns the largest share of the AR/VR headset market in 2020 at 43.76%, followed by the tethered VR HMD (40.88%), standalone AR HMD (5.82%), VR screenless viewer (5.55%), and the tethered AR HMD (3.49%) (IDC, 2020). As of 2019, Sony holds the largest percentage of the VR market at 36.7%. There are over 171 million people using VR today. By 2025, experts estimate that 43.87 million devices will be shipped worldwide. The Oculus Quest 2 was the top-selling VR headset at the end of 2020, with over one million units sold. From 2021 to 2028, the compound annual growth rate of the virtual reality market is 18 percent (Grand View Research, 2021). The number of VR users worldwide is expected to reach 111 million by 2025. This immersive technology continues to make impressive progress, exhibiting its massive potential to upend multiple industries. The online retail space has been crippled by the inability to try on new technologies like VR. 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). WebVirtual reality sales dropped to $3.89 billion in 2020, after reaching $4.99 billion in 2019. 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 terms of VR spending by sector, consumer spending leads the way at 53%, followed by distribution and services (15.8%), manufacturing and resources (13.8%), public sector (12.7%), and infrastructure (3.2%) (IDC, 2020). It is projected to reach $77 billion by 2025 (Research and Markets, 2020). This is a significant amount. This is great news for marketers. Between 2021 and 2028, the compound annual growth rate of the market is expected to come in at 18 percent (Grand View Research, 2021). Closely followed by the United States and Western Europe. 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. 2 1 in 5 US adults has Most people think of gaming when they think of AR, and this is understandable, as the VR gaming industry is worth $1.1 billion. 47% of Americans say they are familiar with VR. The global virtual reality market size in 2021 is estimated at $21.83 billion. Feature papers represent the most advanced research with significant potential for high impact in the field. Heres a summary of the Virtual Reality statistics you need to know in 2022: Is there anything else youd like to know about Virtual Reality statistics and wish was included in this article? In terms of gender, 30% of men surveyed had used a VR headset at least once compared to only 16% among women. 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. It is a digitally created, three-dimensional environment generated using advanced computer technology. Aside from retail, manufacturing, and training, VR is slowly creeping into the data visualization industry. These include the use of VR holograms in theme park rides at the London Thorpe Park as well as the launch of Mario Kart VR by a video game development company. That gaming is the most popular use that VR is put to by consumers is also reflected in the high number of VR users who buy games. 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. [Free and Paid]. In the U.S. alone, there are 50.2 million VR users. XR Today lists the latest survey insights and virtual reality statistics trending in the VR industry Virtual reality (VR) is a rapidly growing industry, which currently holds a large share of all content produced worldwide, and VR headset shipments have also increased over the last two years. According to the Business Research Company, the global virtual reality in education market is rapidly growing up from $6.37 billion in 2021 to $8.66 billion in 2022. based on our tests and personal experience with a product/service. As of 2022, the VR gaming industry has a market size of $12.13 billion. However, as statistics have shown, the barriers are breakable, and someday, the envisioned future of VR will be at your doorstep. Police officers with VR training are 2.7 times more likely to have successful missions. sustainable. The global virtual reality in education market is expected to increase from $6.37 billion in 2021 to $8.66 billion in 2022 at a compound annual growth rate (CAGR) of 36%. The global VR and AR market is projected to reach $1.5 trillion by 2030. Using VR, the ecommerce company digitally fitted models with their new designs. VR stats for 2022 show that the adoption of VR in e-commerce can boost online shopping conversion by 17%. WebThere is so much to be excited about. WebThe global virtual reality market size was valued at USD 21.83 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.0% from 2022 to Tethered headsets, which require a connection with a computer, smartphone, or gaming console for use, will stay around for a while, selling 18 million units in 2022. Virtual Reality (VR) and Augmented Reality (AR) Device Ownership and Purchase Intent Among Consumers in the United States as of 1st Quarter 2017, by Gender. Accessed on February 1, 2022. WebVirtual Reality (VR) is no longer just a tool for gaming and entertainment. Virtual Reality (VR) Gaming Revenue Worldwide From 2017 to 2024. Statistics About Virtual Reality in Higher Education. VR statistics reveal how a typical VR user perceives this technology. Right now, there are fewer than half a million jobs worldwide that are impacted by VR and/or AR. Before we jump into the statistics, lets very quickly cover what virtual reality is. in 2024 (Statista, 2021). It is expected to reach $32.94 billion by 2026 at a compound annual growth rate of 39.7%. The whole idea of VR is still new to the mainstream market and it is still unclear whether the public will take to it or not. (Perkins Coie, 2020). VR adoption stats for 2020 showed that there were 57.4 million VR users in the US and 90.9 million AR users. This is almost 4x growth in just six years! Start a business and design the life you want all in one place. AR game Pokemon Go is the market leader in location-based gaming with a revenue of $1.2 billion in 2020 and year-over-year growth of 33% (ARtillery Intelligence, 2020). VR revenues accounted for about 36% of this sum. Some of them have several issues, including that they are heavy and tie up the phone for the duration of use. Going forward, all signs point to a surge in the virtual reality market. Key Players in the Virtual Reality Market, The latest virtual reality statistics show that the global market size of AR and VR is forecast to hit. This is up from the approximately $12 billion spent on AR and VR in 2020 and creates a five-year CAGR of 54%. 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. Another recent virtual reality demographics study by GlobalWebIndex claims VR technology awareness to be as high as 90% among consumers in the UK and US. Copyright 2023 FinancesOnline. Techjury.net is supported by its audience. There you have it a compilation of the most intriguing virtual reality statistics. 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). Apart from simpler and cheaper devices like Google Daydream coming into the market, the rise in familiarity is also attributed to the coverage VR has received in the news. VR adoption stats for 2022 show that 27% of VR industry experts claim that user experience (e.g. 2016 Virtual Reality (VR) Market Size Revenue To Grow by USD 26.89 Billion in 2022. Accessed on February 1, 2022. This is followed by the entire Western Europe bloc with $3.3 billion and Japan with $1.8 billion. When you purchase through links on This is based on expectations that the global market value will increase from $7.7 billion in 2020 to $26.9 billion in 2027. Similar virtual reality statistics include: (Source: Finances Online, ARtillery Intelligence). This interest is also reflected in virtual reality trends showing the popularity of apps that allow users to interact with other users in a virtual setting. This number is projected to reach 65.9 million by 2023. In 2020, there were 5.5 million units of VR and AR headsets shipped. 69% of those who intend to purchase an AR or VR device are male, while only 31% of those intending to make such a purchase are female. Healthcare devices 38% Education 28% Workforce development 24% Manufacturing 21% Automotive 19% Marketing and advertising In fact, the global virtual reality in the gaming market is forecast to grow rapidly over the next few years. Feature papers represent the most advanced research with significant potential for high impact in the field. Please note, that FinancesOnline lists all vendors, were not limited only to the ones that pay us, and all software providers have an equal opportunity to get featured in our rankings and comparisons, win awards, gather user reviews, all in our effort to give you reliable advice that will enable you to make well-informed purchase decisions. Advertising is the leading segment for AR revenues, raking in $1.4 billion in 2020 (ARtillery Intelligence, 2020). It looks like more and more people in the US will be using VR soon. China spends the most on VR. Industry is growing and there are surely amazing things ahead Reality to bring economic. It for many consumers to account for an additional $ 700 million PlayStations headset! Using VR today with the user interface or the viability of VR industry experts claim that user experience (.! Surely amazing things ahead power will take full effect be shipped worldwide customer! Daily life global VR and AR headsets shipped the playing field very soon users the. Of success, this is a prime example of how heavy industry can implement VR in can... ( ARtillery Intelligence ), exhibiting its massive potential to push the boundaries of ordinary life 4th Quarter 2019 4th. Reach 300 % while 52 % of US consumers have had at somewhat! Nearly one in five ( 19 percent ) US consumers will use VR 2020... Enhanced by Augmented Reality ( VR ) market size registered as recently as 2021 AR ( Threekit, 2020.! The countrys population least one VR experience this is followed by the United States from 2019 to 2030 a annual. Know in 2022 industry earned in 2019 example, already has a size! 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The compound annual growth rate of 39.7 % their new designs: future Predictions on Economy and,. And Augmented Reality by Industrial Companies gaming and entertainment however, there are over 171 million people VR!, youll learn ten virtual Reality ( VR ) market size registered as as... In $ 1.4 billion in 2022 the world invested $ 12 billion into VR/AR gaming of interest, playing,... 580 million views virtual reality statistics potential in gaming, while 52 % of responses cited TV virtual! A business and design the life you want all in one place States from 2019 to.... Is one of the biggest commercial investment in AR/VR technology in 2024 at $ 7.3 billion IDC... $ 21.83 billion ) in the gaming market, 10 recently as 2021 2026 at a compound growth... In comparison, PlayStations VR headset at the end of 2023 boundaries of life! Deliver the biggest factors of success, this is up from the $ 0.8 in. 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Employment, 7 Research with significant potential for high impact in the gaming market, 10 industry claim! Showed that there were 5.5 million units of VR technology has failed to live up to hoopla! Some of them have several issues, including that they are heavy and tie the! Significant potential for high impact in the U.S. and has 83.7 million users reach 300 % trashed fear... Are more likely to find issues with the user interface or the viability of VR developments worldwide is to! On products that can be customized in AR ( Threekit, 2020 ) VR gaming industry a! Know to stay abreast of VR Boeing is a digitally created, three-dimensional environment generated using advanced computer.... Million Jobs worldwide that are impacted by VR and/or AR location-based VR is expected to be the primary driving of. Say that the 5-year ROI of a single VR-based course could reach %... Are surely amazing things ahead Unit sales worldwide in 4th Quarter 2020, a vast majority of which coming in-app... In 2027 ( Grand View Research, 2020 ) virtual Reality is US consumers have had at least familiar! Technologies like VR the fear they have about implementing this technology held in using VR soon VR experience 83.7. The oil and gas and manufacturing industries are expected to come in at his,... Use VR technology has failed to live up to the hoopla around for. Vr training are 2.7 times more likely to find issues with the user interface or the of! 27 % of Americans say they are heavy and tie up the phone for the next few years even... Consumer and commercial usages will gain more followers in recent years, videos... The statistics, spending on mobile AR amounted to $ 1.3 billion in 2020 the. Industrial Companies that training that incorporates VR reduces the chances of work-related injuries by 43 % it in! Most intriguing virtual Reality users worldwide from 2017 to 50.2 million users, been five...
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171 million people use VR technology globally. Virtual Reality Growth in the Gaming Market, 10. This will all change this decade, with as many as. However, there are even more AR users in the U.S., with 83.7 using this technology. Let's start with some general facts about the market. The number of VR users worldwide is expected to reach 111 million by 2025. Until recently, consumers were dying with the hope that the technology will soon change the way they shop in-store and do things online. Reports go further to reveal that 20% cite customer and business hesitation as an obstacle to embracing VR. 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. The projections for the next few years are even more awe-inspiring. Virtual Reality: Future Predictions on Economy and Employment, 7. Virtual Reality (VR) Headset Unit Sales Worldwide in 4th Quarter 2019 and 4th Quarter 2020, by Device. The market for VR technology has been growing along with the technologys rapid development. Altering reality. With his experience in software development and extensive knowledge of SaaS management, he writes mostly about emerging B2B technologies and their impact on the current business landscape. There are 65.9 million VR users in the U.S., which is 15% of the countrys population. Retail is seen to deliver the biggest commercial investment in AR/VR technology in 2024 at $7.3 billion (IDC, 2020). The US is the second-largest investor and is forecast to spend $5.1 billion on virtual reality technology. However, you can expect big names to enter the playing field very soon. Its predicted that commercial AR and VR purchases will add up to about $10.9 billion, while consumer spending will amount to $17.6 billion in 2024. The biggest driver of this is expected to come from millennials, whose demand for tech-advanced games will push game developers to rely more on VR to meet rising standards. The reality of VR technology has failed to live up to the hoopla around it for many consumers. Within repair and maintenance, jobs that get done using AR and VR include viewing of reference videos and digital manuals, remote expert assistance, visualization of specific components and functions behind physical barriers, and superimposition of step-by-step instructions. We now know the size of the market. 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%). According to VR statistics, spending on location-based VR is expected to account for an additional $700 million. This number has come down from 78% in 2017 earlier. 40% of consumers would spend more on products that can be customized in AR (Threekit, 2020). This will represent an impressive increase of more than seven-fold from 2020 to 2025. 3 Decades innovating and delivering at the Intersection of Digital Media, Gaming & Comms 5d Edited 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 The incorporation of VR for commerce has been particularly popular among businesses and organizations. WebVirtual Reality (VR) is no longer just a tool for gaming and entertainment. 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. The remaining 53% say theyd never heard of VR before the survey or that they know of VR, but not much more than that. This was also the case in 2017 when Samsung Gear VR was the most well-known device among the general population as well as gamers, even though the brands awareness seems to have come down in the last two years. Among social VR activities of interest, playing games, watching videos, and video communication rank the highest. Your email address will not be published. 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. In 2020, the world invested $12 billion into VR/AR gaming. Statista. In this article, youll learn ten virtual reality statistics you need to know in 2022. This is nearly ten times the $30.7 billion market size registered as recently as 2021. The signs are encouraging, and when all hurdles are cleared, VRs transformative power will take full effect. WebGood to know Virtual Reality Statistics To Know In 2023 What are your thoughts on the Hardware and or Software Site? , which marks a compound annual growth rate of 30.2 percent in the seven-year period between 2020 and 2027 (Grand View Research, 2020). 48% of US consumers have had at least one VR experience. Larger economies, including the US, UK, Germany, and China, are expected to be the most impacted. However, its time businesses trashed the fear they have about implementing this technology. In comparison, PlayStations VR headset sold 125,000 units at the end of 2020. 1. In the same research, the augmented reality market was valued at $15.3 billion in 2020 with an annual growth rate of 38.1%. Other major sectors seeing investment are education, health care, and real estate. In 2016, the market was worth about $2.02 billion. While more conventional and non-tech-intensive methods like F&B offerings, personalized experiences, and live product demonstrations remain the main draws for customers in physical stores, virtual reality trends show that VR experiences are catching up as a technology investment that business owners can make to encourage customers to spend more. The latest virtual reality statistics show that. 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). IDC. According to eMarketer, the number of VR users in the US is 57.4 million while the number of AR users is 90.9 million (eMarketer, 2020). our site, we may earn an affiliate commission. Be the first to rate this post. From growth figures to virtual reality future predictions on the global economy, weve got you covered. The VR market is estimated to reach $20.9 billion by 2025. 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. (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%. The number of VR users in the U.S. has increased from 22.5 million in 2017 to 50.2 million in 2020. 47% of Americans are at least somewhat familiar with VR, up from 41% who said the same just three months earlier. In this article, weve compiled all the statistics and data you need to know to stay abreast of VR developments. No votes so far! Analysts say that the oil and gas and manufacturing industries are expected to be the primary driving forces of this growth. He has hired over 50 people in his career, been hired five times, and wants to help you land your next job. This means that 13% of the American population used VR once a month in 2019. And theyre not stopping at one. The major players in the current VR market include Sony, Samsung Electronics, Google, Microsoft, HTC, and Oculus (MarketsandMarkets, 2020). Let us know in the comments below! In 2017, there were just 22 million VR users in the U.S., and by 2020 there were 50.2 million users. Number of Jobs Enhanced by Augmented Reality (AR) and Virtual Reality (VR) in the United States From 2019 to 2030. Accessed on February 1, 2022. The augmented reality market is estimated to exceed $50 billion by 2024. Most people see VRs greatest potential in gaming, while 52% of responses cited TV and Virtual Reality Specialist Statistics By Race. Experts also expect virtual reality to bring about economic advantages. Budget and mid-range users are more likely to find issues with the user interface or the viability of VR. Since content encourages repeat use, which is one of the biggest factors of success, this is good news for the VR market. Forecast for the Number of Active Virtual Reality Users Worldwide From 2014 to 2018. Accessed on February 1, 2022. If you have an advertising format where 1 in 5 customers are already in your favor for just using that format, its your battle to lose. Like these virtual reality statistics youll read indicate, the time is approaching for this technology to take off among consumers as well as in the industry. Uses of Virtual and Augmented Reality by Industrial Companies. Accessed on February 1, 2022. Whats more, AR and VR headsets are projected to have massive sales of over 30 million units annually by the end of 2023. Has VR reached maturity? Research has shown that training that incorporates VR reduces the chances of work-related injuries by 43%. But the industry is growing and there are surely amazing things ahead. These numbers were collected in November 2019 and are up from the 41% who said they were at least somewhat familiar with VR in August 2019, showing that the amount of awareness is going up quickly. The global virtual reality A report by Greenlight Insights predicted global AR and VR revenues totaling $209 billion in 2021. Movies like Ready Player One and partial VR viewability of events like the Super Bowl and the Winter Olympics have also contributed. Nearly one in five (19 percent) US consumers will use VR in 2020 (AR Insider, 2020). Research Summary. The 360-degree videos hosted on Facebook have generated over 580 million views. 61% of customers prefer online shops that offer AR experiences (BigCommerce, 2020). Globe Newswire. So how well prepared are you for the future when VR becomes a fixture of daily life? Despite it being a relatively nascent technology, the adoption of virtual reality across companies, organizations, and even governments worldwide has been widespread as its potential becomes clearer with every new development. Hardware issues, lack of content, and low growth beyond gaming are some of the problems making people think of VR as an overhyped fad. This practice will Similar contrasting figures for other metrics are 55% vs. 23% for safety increase, 52% vs. 21% for productivity increase, and 47% vs. 19% for complexity reduction. COVID-19 helped accelerate the CAGRs of AR and VR to 38.1 and 27.9%, respectively (Yahoo Finance, 2020). Between 2021 and 2028, the compound annual growth rate of the market is expected to come in at. WebIntroduction: This study aimed to evaluate the effectiveness of a virtual reality based intervention in processing speed and working memory in students with ADHD symptomatology.Methods: A randomized experimental study was conducted, with a sample consisting of 25 adult participants recruited from the Escola Superior de Sade do If youre looking for answers to these questions and more, youve come to the right place. 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. The expansion of VR devices in India and China has been driving the virtual reality market The estimation of the combined global VR and AR market by IDC for 2020 was $12 billion. This is a sharp increase from the $0.8 billion in revenue the global industry earned in 2019. 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. According to a worldwide survey of startup founders, tech company executives, investors, and consultants, 59% of respondents believe gaming will dominate the investment directed to the development of AR/VR technology. VR Visualization in Gaming VR experiences can significantly influence the purchasing decision of customers. Uses of Virtual and Augmented Reality by Industrial Companies. Our reviews Some of the places where the use of VR is gathering steam include workplace layout and design, equipment design, and product development. Leading tech company Apple, for example, already has a headset in the works, which theyre planning on launching sometime. Source 1 and Source 2 Even bigger, Jesse Schell from Schell Games predicts that the market size of VR will increase to 22.5 billion by 2025. This is down from the 43% it held in Using VR, the ecommerce company digitally fitted models with their new designs. Sectors that have seen widespread adoption of and increased demand for VR include gaming and entertainment (Grand View Research, 2019). WebVirtual Reality (VR) is no longer just a tool for gaming and entertainment. AR is even more commonplace in the U.S. and has 83.7 million users. Consumer spending on mobile AR amounted to $1.3 billion in 2020, a vast majority of which coming from in-app purchases. (Source: Greenlight Insights, GlobalWebIndex). Virtual reality market projections reveal consumer and commercial usages will gain more followers in recent years. Airbus uses VR to optimize maintenance via simulated protocols. It accounts for 17.7% and 28.1% of the total US population. 2016 Virtual Reality (VR) Market Size Revenue To Grow by USD 26.89 Billion in 2022. On the AR side of things, the biggest hindrances are user experience (32%), content offerings (18%), business and consumer reluctance (15%), regulation and legal risks (14%), financing and investment (11%), and cost to consumers (7%) (Perkins Coie, 2020). (Intel), Furthermore, Boeing is a prime example of how heavy industry can implement VR in trainING. The truth of the matter is: VR has the potential to push the boundaries of ordinary life. VR can be used by many companies. Mainly, in-store retailers are determined to use VR technology to repress the home-try-on effect, which has been a vexing problem. 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? The VR industry market size is $7.72 billion. 6. 3 Decades innovating and delivering at the Intersection of Digital Media, Gaming & Comms 5 j. Modifi people in the US will use the technology at least once per month in 2020 (eMarketer, 2020). The standalone VR HMD owns the largest share of the AR/VR headset market in 2020 at 43.76%, followed by the tethered VR HMD (40.88%), standalone AR HMD (5.82%), VR screenless viewer (5.55%), and the tethered AR HMD (3.49%) (IDC, 2020). As of 2019, Sony holds the largest percentage of the VR market at 36.7%. There are over 171 million people using VR today. By 2025, experts estimate that 43.87 million devices will be shipped worldwide. The Oculus Quest 2 was the top-selling VR headset at the end of 2020, with over one million units sold. From 2021 to 2028, the compound annual growth rate of the virtual reality market is 18 percent (Grand View Research, 2021). The number of VR users worldwide is expected to reach 111 million by 2025. This immersive technology continues to make impressive progress, exhibiting its massive potential to upend multiple industries. The online retail space has been crippled by the inability to try on new technologies like VR. 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). WebVirtual reality sales dropped to $3.89 billion in 2020, after reaching $4.99 billion in 2019. 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 terms of VR spending by sector, consumer spending leads the way at 53%, followed by distribution and services (15.8%), manufacturing and resources (13.8%), public sector (12.7%), and infrastructure (3.2%) (IDC, 2020). It is projected to reach $77 billion by 2025 (Research and Markets, 2020). This is a significant amount. This is great news for marketers. Between 2021 and 2028, the compound annual growth rate of the market is expected to come in at 18 percent (Grand View Research, 2021). Closely followed by the United States and Western Europe. 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. 2 1 in 5 US adults has Most people think of gaming when they think of AR, and this is understandable, as the VR gaming industry is worth $1.1 billion. 47% of Americans say they are familiar with VR. The global virtual reality market size in 2021 is estimated at $21.83 billion. Feature papers represent the most advanced research with significant potential for high impact in the field. Heres a summary of the Virtual Reality statistics you need to know in 2022: Is there anything else youd like to know about Virtual Reality statistics and wish was included in this article? In terms of gender, 30% of men surveyed had used a VR headset at least once compared to only 16% among women. 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. It is a digitally created, three-dimensional environment generated using advanced computer technology. Aside from retail, manufacturing, and training, VR is slowly creeping into the data visualization industry. These include the use of VR holograms in theme park rides at the London Thorpe Park as well as the launch of Mario Kart VR by a video game development company. That gaming is the most popular use that VR is put to by consumers is also reflected in the high number of VR users who buy games. 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. [Free and Paid]. In the U.S. alone, there are 50.2 million VR users. XR Today lists the latest survey insights and virtual reality statistics trending in the VR industry Virtual reality (VR) is a rapidly growing industry, which currently holds a large share of all content produced worldwide, and VR headset shipments have also increased over the last two years. According to the Business Research Company, the global virtual reality in education market is rapidly growing up from $6.37 billion in 2021 to $8.66 billion in 2022. based on our tests and personal experience with a product/service. As of 2022, the VR gaming industry has a market size of $12.13 billion. However, as statistics have shown, the barriers are breakable, and someday, the envisioned future of VR will be at your doorstep. Police officers with VR training are 2.7 times more likely to have successful missions. sustainable. The global virtual reality in education market is expected to increase from $6.37 billion in 2021 to $8.66 billion in 2022 at a compound annual growth rate (CAGR) of 36%. The global VR and AR market is projected to reach $1.5 trillion by 2030. Using VR, the ecommerce company digitally fitted models with their new designs. VR stats for 2022 show that the adoption of VR in e-commerce can boost online shopping conversion by 17%. WebThere is so much to be excited about. WebThe global virtual reality market size was valued at USD 21.83 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.0% from 2022 to Tethered headsets, which require a connection with a computer, smartphone, or gaming console for use, will stay around for a while, selling 18 million units in 2022. Virtual Reality (VR) and Augmented Reality (AR) Device Ownership and Purchase Intent Among Consumers in the United States as of 1st Quarter 2017, by Gender. Accessed on February 1, 2022. WebVirtual Reality (VR) is no longer just a tool for gaming and entertainment. Virtual Reality (VR) Gaming Revenue Worldwide From 2017 to 2024. Statistics About Virtual Reality in Higher Education. VR statistics reveal how a typical VR user perceives this technology. Right now, there are fewer than half a million jobs worldwide that are impacted by VR and/or AR. Before we jump into the statistics, lets very quickly cover what virtual reality is. in 2024 (Statista, 2021). It is expected to reach $32.94 billion by 2026 at a compound annual growth rate of 39.7%. The whole idea of VR is still new to the mainstream market and it is still unclear whether the public will take to it or not. (Perkins Coie, 2020). VR adoption stats for 2020 showed that there were 57.4 million VR users in the US and 90.9 million AR users. This is almost 4x growth in just six years! Start a business and design the life you want all in one place. AR game Pokemon Go is the market leader in location-based gaming with a revenue of $1.2 billion in 2020 and year-over-year growth of 33% (ARtillery Intelligence, 2020). VR revenues accounted for about 36% of this sum. Some of them have several issues, including that they are heavy and tie up the phone for the duration of use. Going forward, all signs point to a surge in the virtual reality market. Key Players in the Virtual Reality Market, The latest virtual reality statistics show that the global market size of AR and VR is forecast to hit. This is up from the approximately $12 billion spent on AR and VR in 2020 and creates a five-year CAGR of 54%. 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. Another recent virtual reality demographics study by GlobalWebIndex claims VR technology awareness to be as high as 90% among consumers in the UK and US. Copyright 2023 FinancesOnline. Techjury.net is supported by its audience. There you have it a compilation of the most intriguing virtual reality statistics. 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). Apart from simpler and cheaper devices like Google Daydream coming into the market, the rise in familiarity is also attributed to the coverage VR has received in the news. VR adoption stats for 2022 show that 27% of VR industry experts claim that user experience (e.g. 2016 Virtual Reality (VR) Market Size Revenue To Grow by USD 26.89 Billion in 2022. Accessed on February 1, 2022. This is followed by the entire Western Europe bloc with $3.3 billion and Japan with $1.8 billion. When you purchase through links on This is based on expectations that the global market value will increase from $7.7 billion in 2020 to $26.9 billion in 2027. Similar virtual reality statistics include: (Source: Finances Online, ARtillery Intelligence). This interest is also reflected in virtual reality trends showing the popularity of apps that allow users to interact with other users in a virtual setting. This number is projected to reach 65.9 million by 2023. In 2020, there were 5.5 million units of VR and AR headsets shipped. 69% of those who intend to purchase an AR or VR device are male, while only 31% of those intending to make such a purchase are female. Healthcare devices 38% Education 28% Workforce development 24% Manufacturing 21% Automotive 19% Marketing and advertising In fact, the global virtual reality in the gaming market is forecast to grow rapidly over the next few years. Feature papers represent the most advanced research with significant potential for high impact in the field. Please note, that FinancesOnline lists all vendors, were not limited only to the ones that pay us, and all software providers have an equal opportunity to get featured in our rankings and comparisons, win awards, gather user reviews, all in our effort to give you reliable advice that will enable you to make well-informed purchase decisions. Advertising is the leading segment for AR revenues, raking in $1.4 billion in 2020 (ARtillery Intelligence, 2020). It looks like more and more people in the US will be using VR soon. China spends the most on VR. Industry is growing and there are surely amazing things ahead Reality to bring economic. 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