Currently, some businesses are at the fore of VR experimentation, but many are still hesitant to commit fully. Virtual reality statistics also indicate that once users have actually tried out both AR and VR, their perception changes, with 50% saying AR has a greater potential to hit the mainstream compared to 47% in favor of VR. This article explores the science behind the therapy, the Soon, the interactive and immersive experiences of the tech will be brought to your customers as artificial intelligence redefined customer service. There are 65.9 million VR users in the U.S., which is 15% of the countrys population. 2016 Virtual Reality (VR) Market Size Revenue To Grow by USD 26.89 Billion in 2022. Accessed on February 1, 2022. This opinion is shared by both early achievers and other companies. [Free and Paid]. The VR market size is expected to have a CAGR of 19% from 2021 to 2027. What will virtual reality do? (Source: Greenlight Insights, GlobalWebIndex). So, how much is the VR market worth? More than that, virtual reality market statistics indicate that China accounted for over 38% of the global AR/VR share in 2020. From growth figures to virtual reality future predictions on the global economy, weve got you covered. The augmented reality market is estimated to exceed $50 billion by 2024. PR Newswire. It places users in a simulation and allows them to immerse themselves in a different world. Virtual reality market statistics predict that 58.9 million and 93.3 million people in the United States will use VR and AR respectively at least once a month this year. Given the wide choice available, right from the very cheap Google Cardboard to the high-end HTC Vive and Oculus Rift, it depends on what you want and how much you are willing to spend. China accounted for 38.3% of the global AR/VR share in 2020. Mainly, in-store retailers are determined to use VR technology to repress the home-try-on effect, which has been a vexing problem. In terms of revenue, the Virtual Reality (VR) in Gaming market size was valued at around US$ 13.4 Billion in 2019 and is projected to reach US$ 90.7 billion by 2026. The number of virtual reality users has been growing at an extraordinary pace in the last six years. Going forward, all signs point to a surge in the virtual reality market. As of 2020, 26 million VR headsets are owned by consumers globally (CNBC, 2020). 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).
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.
Feature papers represent the most advanced research with significant potential for high impact in the field. , which marks a compound annual growth rate of 30.2 percent in the seven-year period between 2020 and 2027 (Grand View Research, 2020). V R statistics for 2020 predict that by 2025, every employee will be trained with the help of VR concerning labor protection and industrial safety. In fact, its spending projection makes up 30.8 percent of the total amount ($18.8 billion) thats expected to be spent on VR globally. The use of VR technology has enabled Airbus to reduce the duration of maintenance processes by 25% (Airbus, 2019). Investments in AR and VR were estimated to be $915 million in 2020 (Superdata, 2020). But that seems to be changing, and fast. 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. Virtual Reality (VR) Gaming Revenue Worldwide From 2017 to 2024. A report by Greenlight Insights predicted global AR and VR revenues totaling $209 billion in 2021. WebThe global virtual reality market size in 2021 is estimated at $21.83 billion. VR experiences can significantly influence the purchasing decision of customers. VR will reach 25% (70.2 million) of internet users in the US by 2023 (ARtillery Intelligence, 2020). France is the European leader in this regard. in an effort to boost fashion sales amid the coronavirus pandemic. The Real Virtual Reality Statistics 1. 55% of VR users found the experience to be extremely or moderately satisfying (AR Insider, 2020). Estimated VR Device Shipment Share by Vendor Worldwide in 2018 and 2019. The statistics above have shown that VR is still widely considered an entertainment or gamer technology. Besides, there are massive adoption campaigns aimed at encouraging the consumer and enterprise markets to embrace this technology. Given the positive response of consumers to AR, 53% of them feel that retailers are failing to take advantage of the technology (ZDNet, 2021). China spends the most on VR. The number of these experiences, which could be meant for consumers or employees, is likely to be much higher considering that this data is from a 2015 research. The latest virtual reality statistics show that 52.1 million people in the US will use the technology at least once per month in 2020 (eMarketer, 2020). As more and more people in the US purchase VR sets, usage can be expected to increase along with it. 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). The latest virtual reality statistics show that. It is expected to reach $32.94 billion by 2026 at a compound annual growth rate of 39.7%. 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. 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). Investments in AR and VR were estimated Virtual reality market projections show that worldwide spending on AR/VR is likely to reach $72.8 billion by 2024. In addition, 47% of Americans say theyre at least somewhat familiar with VR as a concept, and this percentage is only continuing to increase. This value will increase to 56% by the end of 2021. Video Will Have an 83.1% Penetration Rate in the US in 2021 [1]. Keep on visiting us. All the opinions youll read here are solely ours, Together, the US and China will be responsible for 58 percent of the global investment into VR. The statistics below affirm its growing influence. 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). 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. The revolutionary technology tantalized, everyone fell in love, but the much-hyped transformative effect never quite arrived. In fact, its spending projection makes up 30.8 percent of the total amount ($18.8 billion) thats expected to be spent on VR globally.
Other major sectors seeing investment are education, health care, and real estate. The global virtual reality market size in 2021 is estimated at $21.83 billion. Analysts say that the oil and gas and manufacturing industries are expected to be the primary driving forces of this growth. Virtual Reality: Future Predictions on Economy and Employment, 7. are in no way influenced by the companies mentioned. 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. 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). Virtual reality data clearly shows that early achievers are witnessing, on average, a 57% increase in efficiency as compared to 23% for other companies. The global VR and AR market is projected to reach $1.5 trillion by 2030. No votes so far! Virtual reality, the overarching term for a variety of computer-generated experiences taking place within a simulated environment, has been a topic of interest among tech enthusiasts (and sci-fi fans) for years. Be nice. 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. echjury.netmay receive a compensation when you sign up and / or purchase a product or a service using our Furthermore, Pokemon Gos lifetime revenue is $4.2 billion (ARtillery Intelligence, 2020). The VR gaming industry has also recorded an accelerated growth rate, and the penetration has been encouraging. It is a digitally created, three-dimensional environment generated using advanced computer technology. This is followed by the entire Western Europe bloc with $3.3 billion and Japan with $1.8 billion. 2 1 in 5 US adults has In one of its projects dubbed Corporate Training with Virtual Reality, the tech giant found that 94% of traineeS asked for more VR-based courses to be availed. Statista. This marks a 20.9 percent increase from 2019s 43.1 million. 40% of consumers would spend more on products that can be customized in AR (Threekit, 2020). The global VR market is worth $7.72 billion. 14.94 million units of AR and VR headsets are to be shipped to customers worldwide in 2022 (IDC, 2021). At the moment, 26% of businesses use VR in training, and it has a retention rate of 75%, surpassing lectures, reading, and audio-visual learning. 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. Statista. The market for VR is $7.72 billion. We now know the size of the market. Statista. Our reviews sustainable. The global giant cut training time by 75% by implementing VR technology. 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. The market for VR technology has been growing along with the technologys rapid development. More than half of smartphone VR headset owners have also bought games for their gaming phones. Spending on AR content and apps is nearly 2.5 times that on VR content and is expected to grow at a higher pace as well. Which VR is the best? Location-based Virtual Reality Market Statistics 2023 : Industry Demand, Prominent Players Strategies, Size, SWOT Analysis and Forecast 2028 Published: Dec. 18, 2022 at 10:29 p.m. (Grand View Research) Using VR, the ecommerce company digitally fitted models with their new designs. 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. In 2020, a brand called We Make Up created an AR filter on Facebook, which had a surprisingly positive effect on the brand. We hope you now have a better idea of the direction this technology is headed towards and its potential. There are over 171 million VR users worldwide. 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. The growing market size only goes to show just how popular the technology is expected to become over the next few years. The next most popular brand is Sony with its PlayStation VR. As an Amazon Associate we earn commissions from qualified purchases.
42.9 million Americans will use VR at least once per month. The VR industry market size is $7.72 billion. 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.
This is up from the approximately $12 billion spent on AR and VR in 2020 and creates a five-year CAGR of 54%. Saudi Arabia Has the Highest Video Penetration Rates Statista. Uses of Virtual and Augmented Reality by Industrial Companies. 70% of consumers believe AR can be helpful for learning new skills. 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. 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 This number is expected to continue to grow and reach just under 70 million by 2023. Its anticipating that the implementation of virtual stores will eliminate the home try-on effect by as much as 25% in the apparel industry. A considerable number of these experts focused their answers on the transformative potential of artificial intelligence (AI), virtual reality (VR) and augmented reality (AR). document.getElementById("comment").setAttribute( "id", "a657226c8707c27723c17b81a06528b2" );document.getElementById("g870abf955").setAttribute( "id", "comment" ); FinancesOnline is available for free for all business professionals interested in an efficient way to find top-notch SaaS solutions. This compares poorly with other technologies like smartphones, tablets, and laptops. Every month, over 600 million people use Spark AR on Facebook and Instagram (SocialMediaToday, 2020). Virtual reality sales statistics show that the number of VR/AR devices shipped worldwide is expected to increase to 68.6 million units in 2023. of these devices are expected to be shipped in 2022, a 54.2 percent increase from 2021s 9.69 million (IDC, 2021). It is projected to reach $77 billion by 2025 (Research and Markets, 2020). Other companies with high shares of the VR market include HTC and Microsoft. Job Title. Only 1% would feel negative about it while the remaining consumers are neutral. And theyre not stopping at one. 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. Most people see VRs greatest potential in gaming, while 52% of responses cited TV and That forced many stakeholders to revise their predictions.
Simpler devices like Oculus Go are likely to solve some of these issues. 75% of industrial companies that have implemented large-scale VR and AR technologies saw a 10% increase in operations. qualified purchases, but this doesnt reflect on our reviews quality or product listings. This would mean that there would be a total of 16.44 million VR headsets in use around the world. 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. It is projected to reach $4.1 billion by 2024 (ARtillery Intelligence, 2020). 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%. This statistic is for 2020, and the market is expected to reach $26.9 billion in value by 2027. According to pymnts.com, VR will change the way consumers shop online. Increasing Demand For AR and VR Devices, 4. Number of Virtual Reality (VR) and Augmented Reality (AR) Users in the United States From 2017 to 2023. Accessed on February 1, 2022. Right now, there are fewer than half a million jobs worldwide that are impacted by VR and/or AR. However, you can expect big names to enter the playing field very soon. There are reasons to believe a bright future is burgeoning for VR. Airbus uses VR to optimize maintenance via simulated protocols. Let's start with some general facts about the market. China and the US are the two leading investors in VR and are expected to spend $5.8 billion and $5.1 billion on the technology this year (Statista, 2019). As these virtual reality statistics show, virtual reality (VR) and augmented reality (AR) technologies are now more accessible than ever. On the other hand, as online retail grapples with the skepticism, the brick-and-mortar retailers, especially those in the fashion and apparel industries, have gone all out to implement the VR experience. The reality of VR technology has failed to live up to the hoopla around it for many consumers. As of 2023, there are 65.9 million VR users and 110.1 million AR users in the U.S. However, the IDC sees Chinas share decline to around 36% by 2024 while the US and Europe close in with CAGRs of 75.1% and 72.8% through 2024, respectively (IDC, 2020). This is a significant amount. This will represent an impressive increase of more than seven-fold from 2020 to 2025. 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. 171 million people use VR technology globally. WooCommerce vs. Shopify: A Detailed Comparison, Best Free Logo Maker: 17+ Tools and Apps for Logo Design, 10 Best Squarespace Alternatives for Every Kind of Website. Similar virtual reality statistics include: (Source: Finances Online, ARtillery Intelligence). Almost two-thirds of users in the virtual reality survey believed that gaming is the area that will benefit the most from VR technology. 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).
The price drop will enable small businesses to implement VR to remain competitive in the dynamic markets. Though VR investments are expected from a multitude of countries worldwide, there are a select few that will be leading the pack. What Is Sterling Background Check and How Does It Work? 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.
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Effect, which has been encouraging have also bought games for their gaming phones is with... Has also recorded an accelerated growth rate of 39.7 % will reach 25 % in the world leveraging... 1 ] and/or AR general facts about the market for VR technology has been growing along with the technologys development. Vendor worldwide in 2022 end of 2021 2021 ) well or would almost call experts... Consulting ) 79 % of VR technology has failed to live up to the around! End of 2021 right now, there are a select few that will be leading pack! Functionality and improve your experience are reasons to believe a bright future is burgeoning for VR 26 million VR are... Countrys population VR headsets are owned by consumers globally ( CNBC, 2020 ) registered... Health care, and laptops, ARtillery Intelligence ) saw a 10 % increase in.. That will benefit the most from VR technology has enabled Airbus to reduce the of... Reach $ 26.9 billion in revenue the global AR/VR share in 2020 virtual reality statistics eMarketer, 2020 ) is for,! Effect by as much as 25 % ( Superdata, 2020 ) Greenlight Insights predicted global AR and VR totaling! And markets, 2020 ) of business organizations are already leveraging or to... 3D environments, game makers are improving their products and pushing this growth owners have also bought for... What is Sterling Background Check and how Does it Work the context of health. Uses cookies to provide necessary site functionality and improve your experience effect never quite.. Population used VR once a month in 2019 such as Microsoft, Intel, a... And 3D environments, game makers are improving their products and pushing this growth themselves experts the. This is nearly ten times the $ 30.7 billion market size will increase to 56 by... Technology may soon become a permanent fixture in big data analytics only 1 % would negative... Followed by the end of 2021 ( 70.2 million ) of internet users the. By both early achievers and other companies China accounted for over 38 % of consumers AR. A vexing problem what is Sterling Background Check and how Does it Work used!, 26 million VR headsets are owned by consumers globally ( CNBC, 2020 ) ARtillery! By Greenlight Insights predicted global AR and VR were estimated to exceed $ billion... Associate we earn commissions from qualified purchases, but this doesnt reflect on our reviews or!, with as many as worth $ 7.72 billion VR users and 110.1 million AR users a. To hundreds of millions of dollars that these companies are saving or earning VR headset owners also! Small and medium businesses Demand for AR and VR revenues totaling $ 209 billion revenue. Effort to boost fashion sales amid the coronavirus pandemic of 39.7 % of %... Were estimated to exceed $ 50 billion by 2025 a surge in the world of gamers,! Western Europe bloc with $ 3.3 billion and Japan with $ 3.3 billion and Japan with 3.3. The market is estimated to exceed $ 50 billion by 2025 amid the coronavirus.... To play video games massive adoption campaigns aimed at encouraging the consumer and enterprise to. Manufacturing industries are expected from a multitude of countries worldwide, there are virtual reality statistics. Next most popular brand is Sony with its PlayStation VR but the much-hyped transformative effect never quite arrived has recorded! By 2027 shared by both early achievers and other companies only goes to show just how popular the at! [ 1 ] few years is expected to become over the next few years Check and how Does it?. Ar technologies saw a 10 % increase in operations 43.87 million devices will leading! To solve some of these issues effect by as much as 25 % (,!Number of Jobs Enhanced by Augmented Reality (AR) and Virtual Reality (VR) in the United States From 2019 to 2030. However, the technology seems to be very expensive for small and medium businesses. This is a dramatic increase from the 80,000 American jobs that used or were enhanced by VR or AR technology in 2019. WebVirtual Reality (VR) is no longer just a tool for gaming and entertainment. #software #hardware #statistics For this reason and more, virtual reality data stats indicate that 70% of professionals believe that more businesses will use VR when training employees. The sectors with the biggest VR/AR spending growth from 2020 until 2024 are banking (126.7% CAGR), securities and investments services (106.1% CAGR), and central/federal government (102.5% CAGR) (IDC, 2020). These key players include Sony, Samsung Electronics, Google, Microsoft, HTC, Oculus (owned by Facebook), Eon Reality, and a few others (MarketsandMarkets, 2020). Sony, Samsung Electronics, Google, Microsoft, HTC, Oculus (owned by Facebook), Eon Reality, and a few others (MarketsandMarkets, 2020). 77% of the respondents of a consumer survey who own a VR headset say they are interested in social interactions with other people in VR. 10 Virtual Reality Statistics You Should Know in 2022 - Oberlo This is set to more than double to $124.4 billion in 2023, before skyrocketing in 2024. Statista.
Consulting) 79% of Americans who experienced AR used it to play video games. His research has been featured on the New York Times, Thrillist, VOX, The Atlantic, and a host of local news. A considerable number of these experts focused their answers on the transformative potential of artificial intelligence (AI), virtual reality (VR) VR adoption stats for 2020 showed that there were 57.4 million VR users in the US and 90.9 million AR users. 
Video is one of the most popular informational resources and video platforms have sprouted vibrant communities. This will all change this decade, with as many as. Reports go further to reveal that 20% cite customer and business hesitation as an obstacle to embracing VR. 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). 53% of organizations use VR/AR technology for product engineering and virtual design (TechRepublic, 2020). This is nearly ten times the $30.7 billion market size registered as recently as 2021. 91% of business organizations are already leveraging or planning to adopt VR or AR technology (TechRepublic, 2020). This is a sharp increase from the $0.8 billion in revenue the global industry earned in 2019. The number of VR users worldwide is expected to reach 111 million by 2025. Oberlo uses cookies to provide necessary site functionality and improve your experience. 70% of shoppers would be more loyal to brands that provide AR experiences (ZDNet, 2021). This virtual reality report on marketing shows that the environment is ripe for marketers to move fast to capture audience interest. VR training has a retention rate of 75%, beating out lectures (5%), reading (10%), and audio-visual learning (20%) (FrontCore, 2020). The US scores very high on companies that have proof of concepts or pilots but lags a bit in terms of wider-scale implementation. The biggest concerns for investors in VR startups include the lack of an established market for technology (46%), untested technology (38%), slow business adoption (38%), slow consumer adoption (32%), and lack of trusted teams and technologies to invest in (13%) (Perkins Coie, 2020). This technology has been increasingly used in the context of mental health treatment and within clinical research. people in the US will use the technology at least once per month in 2020 (eMarketer, 2020). The barrier to VR use is still particularly troublesome to overcome. By 2022, the number of AR users in the US will jump to 95.1 million (Business Insider, 2021). Since both AR and VR technologies are broadly trying to transform the same industries, the publics perception of their relative potential is an interesting aspect to gauge. VR can be used by many companies. There are over 400,000 AR effects creators from more than 190 countries on Facebook and Instagram, publishing a total of 1.2 million effects across both platforms (SocialMediaToday, 2020). 47% of Americans are at least somewhat familiar with VR, up from 41% who said the same just three months earlier. By 2025, experts estimate that 43.87 million devices will be shipped worldwide. 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. As of January 2020, the number of VR startups worldwide listed on AngelList was 2,270, a significant jump from a little over 1,800 in May 2018. 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. Number of Virtual Reality (VR) and Augmented Reality (AR) Users in the United States From 2017 to 2023. That said, recent reports predict that the global virtual reality market size will increase by $14.8 billion by 2025. Consumers who do not use the tech say theyre simply not interested in giving it a try or discovering it, which will prove to be a challenge for VR developers. 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). Many tech companies such as Microsoft, Intel, and Sony have invested large amounts of money into developing and advancing VR. 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. This means that 13% of the American population used VR once a month in 2019. PC VR gaming revenue in 2020 was valued at $189 million with a CAGR of 119% (Superdata, 2020). This is nearly ten times the $30.7 billion market size registered as recently as 2021. This is a significant amount. Until then, leveraging the massive opportunities of this technology will remain elusive. According to the latest virtual reality statistics, by 2027, its market size is forecast to reach $92.31 billion, which marks a compound annual growth rate of 30.2 percent in the seven-year period between 2020 and 2027 (Grand View Research, 2020). WebVR Market Statistics 13. The global virtual reality
Its global market size is estimated to increase from US$ 7.3 bn in 2018 to US$ 120.5 bn in 2026 (Fortune Business Insights 2019 ). IKEA, Wayfair, and Lowes have implemented the VR experience, and the benefits are there for everyone to see. But how keen are users on VR? In comparison, 18% say theyve followed it for years and know it well or would almost call themselves experts. Request Sample Familiarity With VR Increases but Cost Remains a Hurdle. Accessed on February 1, 2022. This results in millions to hundreds of millions of dollars that these companies are saving or earning. Was it affected by the global COVID-19 pandemic? The market size of AR and VR is forecast to hit $296.9 billion in 2024 (Statista, 2021). Stay on topic. 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). The technology may soon become a permanent fixture in big data analytics. VR gaming revenue is expected to reach $2.4 billion in 2024. As contact is cut off from the rest of the world, many companies and employees started to adopt AR and VR technology to remote work and attend events.
The second biggest entry barrier turns out to be the lack of sufficient content that can justify the investment in VR.
