In terms of gender, 30% of men surveyed had used a VR headset at least once compared to only 16% among women. This number is projected to reach 65.9 million by 2023. 48% of US consumers have had at least one VR experience. 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.

This comes at no extra cost to you. Estimated VR Device Shipment Share by Vendor Worldwide in 2018 and 2019. Accessed on February 1, 2022. It accounts for 17.7% and 28.1% of the total US population.

China accounted for 38.3% of the global AR/VR share in 2020. 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. The combined augmented reality and virtual reality markets were worth $12 billion in 2020 with a massive annual growth rate of 54%, resulting in a projected valuation of $72.8 billion by 2024 (IDC, 2020). In 2017, there were just 22 million VR users in the U.S., and by 2020 there were 50.2 million users. 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. Also, VR can sometimes form a part of our real memory, due to excessive play. The global virtual reality market size in 2021 is estimated at $21.83 billion. According to VR statistics, spending on location-based VR is expected to account for an additional $700 million. Besides, the company projected that the 5-year ROI of a single VR-based course could reach 300%. VR adoption stats for 2022 show that 27% of VR industry experts claim that user experience (e.g. Some of them have several issues, including that they are heavy and tie up the phone for the duration of use. Although there is no evidence that this immersive technology has gone mainstream, the statistics above point to a changing landscape. (LightReading, 2017), Lastly, Homegrown, a fast-casual restaurant chain based in Philadelphia, reported that within 30 days of using VR employee onboarding the number of certified members on training and culture rose from 50% to 77%. There are an estimated 171 million VR users worldwide. 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. WebVirtual Reality (VR) is no longer just a tool for gaming and entertainment. In addition, the number of AR users in the U.S. has increased from 37.6 million in 2017 to 83.7 million in 2020, and it is projected to hit 110.1 million in 2023. VR can be used by many companies. 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). However, as statistics have shown, the barriers are breakable, and someday, the envisioned future of VR will be at your doorstep. Through his work, he aims to help companies develop a more tech-forward approach to their operations and overcome their SaaS-related challenges. This is closely followed by upskilling employees by in-house specialized training, partnering with academic institutions, and hiring people with AR/VR expertise, in that order. We hope you now have a better idea of the direction this technology is headed towards and its potential. The number of virtual reality users has been growing at an extraordinary pace in the last six years. (Perkins Coie, 2020). A significant reason for the dip in the sales of devices is the decreasing interest among people for smartphone-based VR devices. Right now, there are fewer than half a million jobs worldwide that are impacted by VR and/or AR. In 2017, there have been only 6700 VR If youre looking for answers to these questions and more, youve come to the right place. This is a significant amount. However, the U.S. and Western Europe are close behind China and are expected to start catching up by 2024, thanks to five-year CAGRs of 75.1% and 72.8%, respectively. The number of VR users worldwide is expected to reach 111 million by 2025.
The growing market size only goes to show just how popular the technology is expected to become over the next few years. However, there are flashes of its outsized potential to streamline operations in retail, ecommerce, nongaming entertainment, employee development, manufacturing, and medical training. In the same research, the augmented reality market was valued at $15.3 billion in 2020 with an annual growth rate of 38.1%. 19% of adults in the US have tried virtual reality (AR Insider, 2020). However, you can expect big names to enter the playing field very soon. The expansion of VR devices in India and China has been driving the virtual reality market This number looks a bit small, considering there were about 1 billion AR users alone in 2020. How To Unblock ChatGPT In Italy: The Essential Guide, The consumer VR market worldwide is set to reach. Estimated VR Device Shipment Share by Vendor Worldwide in 2018 and 2019.

In 2020, there were 5.5 million units of VR and AR headsets shipped.

Virtual Reality Growth in the Gaming Market, 10. (Grand View Research) According to a recent report, the virtual reality markets growth for the period

Virtual reality is pretty much as its name suggests. Whats more, AR and VR headsets are projected to have massive sales of over 30 million units annually by the end of 2023. 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. Sectors Driving Virtual Reality Growth, 8. Since content encourages repeat use, which is one of the biggest factors of success, this is good news for the VR market. It is expected to reach $32.94 billion by 2026 at a compound annual growth rate of 39.7%. Virtual reality (VR) in the gaming market is expected to grow at a CAGR of 32.75% over the forecast period (2021 - 2026). Statista.

Movies like Ready Player One and partial VR viewability of events like the Super Bowl and the Winter Olympics have also contributed. Here are some intriguing VR manufacturing statistics: Currently, VR is no longer limited to gaming. WebThe global virtual reality in education market size stood at USD 656.6 million in 2018 is projected to reach USD 13,098.2 million by 2026, exhibiting a CAGR of 42.9% during the The use of VR technology has enabled Airbus to reduce the duration of maintenance processes by 25% (Airbus, 2019). Meanwhile, the rest of the world spent $2.8 billion on AR/VR (IDC, 2019). VR will reach 25% (70.2 million) of internet users in the US by 2023 (ARtillery Intelligence, 2020).

It will increase to 56% in 2021 (China Internet Watch, 2021). And theyre not stopping at one. Forecast for the Number of Active Virtual Reality Users Worldwide From 2014 to 2018. As well see in the next statistic, this growing popularity of VR is likely to continue at least for another few more years. 75% of industrial companies that have implemented large-scale VR and AR technologies saw a 10% increase in operations. It is a digitally created, three-dimensional environment generated using advanced computer technology. Worldwide Spending on Augmented and Virtual Reality Forecast To Deliver Strong Growth Through 2024, According to a New IDC Spending Guide. 30% of mobile AR users are open to the idea of making in-app purchases (ARtillery Intelligence, 2020). qualified purchases, but this doesnt reflect on our reviews quality or product listings. Keep on visiting us. The US scores very high on companies that have proof of concepts or pilots but lags a bit in terms of wider-scale implementation. 40% of consumers would spend more on products that can be customized in AR (Threekit, 2020). And surprisingly, the COVID-19 pandemic has helped further its growth.

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. The statistics above have shown that VR is still widely considered an entertainment or gamer technology. 171 million people use VR technology globally. With its innovative experience now a reality, businesses are keenly embracing the opportunities it presents. Key VR and AR Statistics and Facts That Are Currently Changing the World: Video games and social content make up nearly 80% of developed content for augmented, mixed, virtual, and cross-reality platforms. 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. This immersive technology is shaking things up across different industries, including retail and manufacturing. No votes so far! 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). [Free and Paid]. In the U.S. alone, there are 50.2 million VR users. Techjury.net is supported by its audience.

Statista. WebThere is so much to be excited about. Copyright 2023 FinancesOnline. links. The reality of VR technology has failed to live up to the hoopla around it for many consumers. The global VR market is worth $7.72 billion. Virtual Reality (VR) Gaming Revenue Worldwide From 2017 to 2024. Accessed on February 1, 2022. And theyre not stopping at one. Most users are also happy with the experience, with 55 percent of them saying theyre either extremely or moderately satisfied. In terms of the scale of implementation, VR statistics show the companies that implement these technologies on a large scale are more likely to experience noticeable operational benefits. Do VR benefits outweigh the risks? As Microsoft, Intel, and laptops additional $ 700 million size 2021! 55 percent of them have several issues, including that they are heavy and tie up the phone the. Well or would almost call themselves experts shaking things up across different,! 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26% of businesses are using VR/AR to train employees (TechRepublic, 2020). WebVirtual Reality (VR) is no longer just a tool for gaming and entertainment. The majority of these are VR devices, which represent 91 percent of the total number of VR and AR devices that are expected to be shipped out this year. In 2018, the size of the worldwide augmented reality and virtual reality market was estimated to be $27 billion. From its use in the fashion industry to its role in some of the best LMS software, these statistics will open your eyes to massive possibilities. In 2020, Chinas AR and VR purchases accounted for more than half of the $12 billion spent on this technology worldwide that year. According to the latest virtual reality statistics, by 2027, its market size is forecast to reach $92.31 billion, which marks a compound annual growth rate of 30.2 percent in the seven-year period between 2020 and 2027 (Grand View Research, 2020). Many tech companies such as Microsoft, Intel, and Sony have invested large amounts of money into developing and advancing VR. 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. One example of this includes UK company ASOS adopting the technology in an effort to boost fashion sales amid the coronavirus pandemic.

There are reasons to believe a bright future is burgeoning for VR. Worldwide spending on AR and VR technology is expected to reach $72.8 billion in 2024. This page may contain links to our partners products and services, which allows us to keep our website 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.

(Virtual Perceptions). Besides, there are massive adoption campaigns aimed at encouraging the consumer and enterprise markets to embrace this technology. , which marks a compound annual growth rate of 30.2 percent in the seven-year period between 2020 and 2027 (Grand View Research, 2020). 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. Feature papers represent the most advanced research with significant potential for high impact in the field. Which VR is the best? ET That said, recent reports predict that the global virtual reality market size will increase by $14.8 billion by 2025. 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). In comparison, 18% say theyve followed it for years and know it well or would almost call themselves experts. This compares poorly with other technologies like smartphones, tablets, and laptops.