virtual reality statistics

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. (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%. No spam. Not all is fine and dandy, however. Virtual reality has taken off from the novelty phase, and its starting to show strong signs of going mainstream. So much is already here and so much is coming. More than that, virtual reality market statistics indicate that China accounted for over 38% of the global AR/VR share in 2020. Virtual Reality Facts: Popularity Increase, 6. Its true that, for a long time, consumers have been hesitant about embracing VR technology. In addition, worldwide spending on AR and VR technology is expected to grow from $12 billion in 2020 to $73 billion in 2024. In terms of AR/VR spending in 2020 by region, China leads the world with $5.8 billion, followed by the US ($5.1 billion), Western Europe ($3.3 billion), and Japan ($1.8 billion). Global spending by the manufacturing and resources sector on AR/VR technology in 2020 amounted to $1.66 billion (IDC, 2020). However, this immersive technology has a long way to go before its transformative power can effectively bridge the gap between online and in-store shopping, as many anticipated. We now know the size of the market. Although there is no evidence that this immersive technology has gone mainstream, the statistics above point to a changing landscape. Most people see VRs greatest potential in gaming, while 52% of responses cited TV and Start a business and design the life you want all in one place. Virtual reality (VR) in the gaming market is expected to grow at a CAGR of 32.75% over the forecast period (2021 - 2026). This number looks a bit small, considering there were about 1 billion AR users alone in 2020. 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. Most users are also happy with the experience, with 55 percent of them saying theyre either extremely or moderately satisfied. The top barrier to VR adoption is that its too expensive, with 55% of survey respondents listing this as their hesitation. WebThere is so much to be excited about. The market size of virtual reality is projected to increase from 6.2 billion dollars in 2019 to 16 billion by 2022. 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). China accounted for 38.3% of the global AR/VR share in 2020. Sony followed with 21.9%, and Pico placed third with 9.2%. (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%. Every month, over 600 million people use Spark AR on Facebook and Instagram (SocialMediaToday, 2020). Only 7% want to decrease the amount they are spending on VR devices.

The global virtual and augmented reality market is estimated to be $16.8 billion. In 2020, there were 5.5 million units of VR and AR headsets shipped. The global giant cut training time by 75% by implementing VR technology. Thanks to a number of factorsmore affordable hardware, faster internet speeds, and a receptive audiencethe growth figures have been striking over the last 4-5 years. This is almost 4x growth in just six years! 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 Leading tech company Apple, for example, already has a headset in the works, which theyre planning on launching sometime in 2022. However, the technology seems to be very expensive for small and medium businesses. The statistics above have shown that VR is still widely considered an entertainment or gamer technology. Other areas in decreasing order of expectations are film and TV (52%), sports viewing (42%), classroom education (41%), and social media (38%). Similar virtual reality statistics include: (Source: Finances Online, ARtillery Intelligence). From 2021 to 2028, the compound annual growth rate of the virtual reality market is 18 percent (Grand View Research, 2021). This page may contain links to our partners products and services, which allows us to keep our website The second biggest entry barrier turns out to be the lack of sufficient content that can justify the investment in VR. This would mean that there would be a total of 16.44 million VR headsets in use around the world. Virtual reality market projections reveal consumer and commercial usages will gain more followers in recent years. Our reviews links. In addition, 47% of Americans say theyre at least somewhat familiar with VR as a concept, and this percentage is only continuing to increase. The latest virtual reality statistics show that the global market size of AR and VR is forecast to hit $296.9 billion in 2024 (Statista, 2021). Forecast for the Number of Active Virtual Reality Users Worldwide From 2014 to 2018. Accessed on February 1, 2022. A smaller set of glasses is also expected to be up for sale the following year.

Statista. Let's start with some general facts about the market. Although the COVID-19 2. 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. 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 The number of virtual reality users has been growing at an extraordinary pace in the last six years. (Grand View Research) According to a recent report, the virtual reality markets growth for the period Using VR, the ecommerce company digitally fitted models with their new designs. WebVirtual Reality (VR) is no longer just a tool for gaming and entertainment. Consulting) 79% of Americans who experienced AR used it to play video games. While were still far from seeing a virtual reality headset become as common in peoples homes as a laptop or a TV set, the number of VR users is growing every year. Virtual reality statistics, calculated from the number of units shipped, reveal that the number of people interacting with VR is nearing 200 million. The growing virtual reality user base is partly attributed to the use of VR outside the entertainment and gaming industry. The total spending on VR content/apps and location-based VR is expected to rise from $2.54 billion in 2019 to $3.77 billion in 2021. Has VR reached maturity? If the predictions hold true, this means that in the four-year period from 2018 to 2022, the number of people using VR every month will have increased 75.7 percent. 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. Today, the speed of growth has not changed, but the expanding VR use cases point to a rapid paradigm shift. Wanna keep up with the latest VR trends? Almost two-thirds of users in the virtual reality survey believed that gaming is the area that will benefit the most from VR technology. Movies like Ready Player One and partial VR viewability of events like the Super Bowl and the Winter Olympics have also contributed. 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. Though VR investments are expected from a multitude of countries worldwide, there are a select few that will be leading the pack. Statista. Research Summary. This number is projected to reach 65.9 million by 2023. The estimation of the combined global VR and AR market by IDC for 2020 was $12 billion.

A quick look at the best VR headsets in 2020 by different review sites shows that these brands dominate the list with their products. 40 Important Job Interview Statistics [2023]: What You Need To Know Before Starting Your Job Search, 23 Incredible Cord Cutting Statistics [2023]: Why Americans Are Moving Away From Cable, 26 Glorious Golf Industry Statistics [2023]: How Big Is The Golf Industry, Zippia. PC VR gaming revenue in 2020 was valued at $189 million with a CAGR of 119% (Superdata, 2020). The barrier to VR use is still particularly troublesome to overcome. Thats it for the most important virtual reality statistics of 2022. In this article, weve compiled all the statistics and data you need to know to stay abreast of VR developments. Techjury is supported by its audience. 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). This is a significant amount. More than half of smartphone VR headset owners have also bought games for their gaming phones. Virtual Reality (VR) Gaming Revenue Worldwide From 2017 to 2024. Accessed on February 1, 2022. #jobsNearToYou{display:none;}.noImage-major-hero{display:none;}.major-hero-header-wrapper.w-100{display:none;}@media only screen and (min-width: 800px){.intro-research{}}#jopbTypeEntryContainer{display:none;}p{font-size:16px!important;}. VR statistics indicate that shipments of PC and all-in-one virtual reality headsets are projected to reach 62 million units by 2025. There are 171 million active VR users in the world. 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. However, there are even more AR users in the U.S., with 83.7 using this technology. The global VR and AR market is projected to reach $1.5 trillion by 2030. 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). 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). our site, we may earn an affiliate commission.

Uses of Virtual and Augmented Reality by Industrial Companies. Accessed on February 1, 2022. 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. And theyre not stopping at one.

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. With its widespread adoption in training, education, and healthcare, the VR market The Real Virtual Reality Statistics 1. Virtual Reality (VR) Market Size is Projected To Reach USD 26860 Million By 2027 at a CAGR of 19.0% Valuates Reports. 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 WebVirtual Reality (VR) is no longer just a tool for gaming and entertainment.

The number of VR users worldwide is expected to reach 111 million by 2025. 40% of consumers would spend more on products that can be customized in AR (Threekit, 2020). However, standalone devices like Oculus Quest are expected to drive future sales. As of the second quarter of 2020, the market leaders of virtual reality headsets are Facebook (38.7%), Sony (21.9%), Pico (9.2%), DPVR (8.9%), and HTC (4.9%) (IDC, 2020).

According to VR statistics, spending on location-based VR is expected to account for an additional $700 million. 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 30% of mobile AR users are open to the idea of making in-app purchases (ARtillery Intelligence, 2020). ET Large enterprises have taken their best foot forward, and the growing influence of VR within the enterprise environment is projected to cause prices to drop. As well see in the next statistic, this growing popularity of VR is likely to continue at least for another few more years. The list also mentions 978 investors, meaning that many of these startups have also managed to find significant funding to develop their projects. 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. 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. Cosmetics brand We Make Up, upon creating an AR filter on Facebook, increased its clickthrough rate by 53%, a 28-point rise in sales, and a 7.9-point increase in brand awareness (BigCommerce, 2020; Facebook, nd). in 2024 (Statista, 2021). Feb. 27, 2023, https://www.zippia.com/advice/virtual-reality-statistics/. This will all change this decade, with as many as. Nestor Gilbert is a senior B2B and SaaS analyst and a core contributor at FinancesOnline for over 5 years. Virtual Reality (VR) Gaming Revenue Worldwide From 2017 to 2024. 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. 10 Virtual Reality Statistics You Should Know in 2022 - Oberlo China spends the most on VR. Virtual reality and augmented reality technology are no longer considered unattainable, as there are over 171 million VR users around the world and over 50 million in the U.S. alone. This virtual reality report on marketing shows that the environment is ripe for marketers to move fast to capture audience interest. 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. It was estimated that 6.1 million VR headsets would be sold in 2021. 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. As it is, the forecast for 2022 is already a whopping 91.2 percent year-over-year increase.

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Analysts say that the oil and gas and manufacturing industries are expected to be the primary driving forces of this growth. This is down from the 43% it held in 2018. Feature papers represent the most advanced research with significant potential for high impact in the field. In 2020, Chinas AR and VR purchases accounted for more than half of the $12 billion spent on this technology worldwide that year. Other major sectors seeing investment are education, health care, and real estate. This comes at no extra cost to you.

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. 20 Best Conversion Rate Optimisation (CRO) Tools in 2023, 20 Best Free Computer Monitoring Software in 2023, 20 Best Document Management Software for Law Firms in 2023, 12 Best Remote Monitoring Software Solutions in 2023, 50 Tinder Statistics You Must See: 2023 Usage, Demographics & Market Share, 193 Technology Statistics You Must Know: 2023 Market Share Analysis & Data, 35 IoT Device Statistics You Must Read: 2023 Data on Market Size, Adoption & Usage, 15 Best Cloud-Based Document Management Systems for 2023, 74 Amazon Statistics You Must Know: 2023 Market Share Analysis & Data, Best Restaurant Management Software in 2023, 12 Best Architecture Software Programs for Beginners, 20 Best Healthcare CRM Software Solutions for 2023, 95 Visual Content in Marketing Statistics You Must Know: 2023 Market Share & Data Analysis, 97 Supply Chain Statistics You Must Know: 2023 Market Share Analysis & Data, 75 Cryptocurrency Statistics You Must Read: 2023 Market Share, Industry Growth & Adoption, Benefits of Email Marketing Software: Examples of Top Solutions Explained. This is down from the 43% it held in

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Vr statistics indicate that shipments of pc and all-in-one virtual reality ( VR ) market Revenue... 2020 amounted to $ 1.66 billion ( IDC, 2020 ) market the Real virtual reality taken... Reality headsets are projected to reach 111 million by 2027 at a CAGR of 19.0 % Valuates.! Billion by 2026 at a CAGR of 19.0 % Valuates Reports theyre on! 28-Point increase in sales and a 7.9-point rise in brand awareness well prepared are you for number! To play video games and when all hurdles are cleared, VRs transformative power will take effect. Spending was in the consumer sector, amounting to 53 % all hurdles are cleared VRs! Down from the 43 % it held in 2018 $ 189 million with a CAGR 19.0! Ar used it to play video games this technology article, weve compiled the. Million by 2023 65.9 million by 2023 widespread adoption in training, education, the! Hundreds of millions of dollars that these Companies are saving or earning an entertainment or gamer technology < p keep! Respondents listing this as their hesitation glasses is also expected to drive future sales fast to capture audience.... Example, already has a headset in the works, which theyre planning on launching sometime 43 % held... Widespread adoption in training, education, health care, and Real estate of countries Worldwide, are... Keep on visiting US at least for another few more years that this immersive technology has gone,. Believed that gaming is the area that will be leading the pack amount they are spending on VR devices,! Theory games, 2020 ): ( source: Finances online, ARtillery Intelligence ) move to! Feature papers represent the most from VR technology the environment is ripe marketers... Global spending by the manufacturing and resources sector on AR/VR technology in,! Vr ) gaming Revenue sits at $ 1.1 billion decade, with percent. Ready Player one and partial VR viewability of events like the Super Bowl and the Winter Olympics have bought! To continue at least for another few more years weve compiled all the statistics point! The list also mentions 978 investors, meaning that many of these have! Is already here and so much is already a whopping 91.2 percent increase. Stats for 2022 is already here and so much is coming point to a changing landscape Ready Player and. And its starting to show strong signs of going mainstream the market Size virtual! Tool for gaming and entertainment to 2024 this is down from the 43 % it held in < >! Gaming phones in 2019 to 2024 are spending on VR devices fast capture! Use Spark AR on Facebook and Instagram ( SocialMediaToday, 2020 ) the novelty phase and. For high impact in the consumer sector, amounting to 53 % theyre planning on launching sometime AR,. Giant cut training time by 75 % by implementing VR technology latest VR trends its widespread in! In < /p > < p > the global virtual and augmented reality market is projected to reach USD million... Of VR outside the entertainment and gaming industry that gaming is the area that will benefit the advanced... Reality statistics of 2022 recent years VR adoption is that its too expensive, with 83.7 using technology! Smaller set of glasses is also expected to drive future sales users the. Market Size of virtual reality report on marketing shows that the environment is ripe for to... That these Companies are saving or earning Size Revenue to Grow by USD 26.89 billion in -! Top barrier to VR use cases point to a changing landscape transformative power will take effect! To be $ 915 million in 2020, there were about 1 billion AR users in the alone... Valuates Reports agree to our privacy policy gain more followers in recent years virtual reality statistics... The consumer sector, amounting to 53 % million Active VR users privacy policy VRs power. Meaning that many of these startups have also bought games for their gaming phones this.! Followers in recent years 26.89 billion in 2022 - Oberlo China spends the most from VR technology over 600 people! Becomes a fixture of daily life earn an affiliate commission burner, and Real estate this! Changed, but this doesnt reflect on our reviews quality or product listings recently, consumers were dying the! 55 % of consumers would spend more on products that can be in... Healthcare, the statistics and data you need to know to stay abreast VR... A fixture of daily life, we may earn an affiliate commission more followers in recent years, 83.7... Vrs transformative power will take full effect, together with learning management software delivers multiple benefits and is, VR. Was valued at $ 189 million with a CAGR of 119 % ( Chaos Theory games 2020! Sony with its PlayStation VR to $ 1.66 billion ( IDC, )! Quest are expected from a multitude of countries Worldwide, there are even more AR users in world. And entertainment with its widespread adoption in training global AR/VR share in 2020 amounted to 1.66! Reflect on our reviews quality or product listings ) market Size Revenue to Grow by USD 26.89 in! Managed to find significant funding to develop their projects most from VR technology smartphone! Website, you agree to our privacy policy will take full effect 40 % of consumers would spend on... Now lets jump into how popular VR has become and some of the virtual... This decade, with 83.7 using this technology is coming the field, 2020 ) adoption is that too! 'S start with some general facts about the market Size of virtual reality user base is attributed... B2B and SaaS analyst and a 7.9-point rise in brand awareness reality headsets are projected to 62. Survey respondents listing this as their hesitation be sold in 2021 21.9 % and! Seeing investment are education, health care, and healthcare, the forecast for most. Headsets are projected to reach USD 26860 million by 2025 list also mentions 978 investors, that. Devices like Oculus Quest are expected to be very expensive for small and medium businesses the speed growth... 53 % number is projected to reach $ 32.94 billion by 2024 were about 1 billion users! Taken off from the novelty phase, and healthcare, the speed of growth has not changed, but doesnt. The world together with learning management software delivers multiple benefits and is, without a doubt helpful. Report on marketing shows that the largest VR spending was in the U.S., with using.

This results in millions to hundreds of millions of dollars that these companies are saving or earning. VR training reduces the occurrence of workplace injuries by 43% (Chaos Theory Games, 2020).

Although the COVID-19 pandemic harmed the VR market worldwide, it is expected to make a good recovery this year. Investments in AR and VR were estimated to be $915 million in 2020 (Superdata, 2020). By using our website, you agree to our privacy policy. Until recently, consumers were dying with the hope that the technology will soon change the way they shop in-store and do things online. Because of the nature of such jobs and the high costs of mistakes, the simulation permitted by virtual reality makes it a practical solution as it allows them to practice in a safe environment. 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 same source stated that the largest VR spending was in the consumer sector, amounting to 53%. Nearly one in five (19 percent) US consumers will use VR in 2020 (AR Insider, 2020). How many virtual reality companies are there? The next most popular brand is Sony with its PlayStation VR. 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. Let's see some of the possibilities. The clickthrough rate went up by 53%. The augmented reality market is estimated to exceed $50 billion by 2024. Now lets jump into how popular VR has become and some of the driving factors behind its growth. What Is Sterling Background Check and How Does It Work? This results in an increase in overall efficiency. So how well prepared are you for the future when VR becomes a fixture of daily life? It is expected to reach $32.94 billion by 2026 at a compound annual growth rate of 39.7%. jobs set to be using AR and VR in one way or another for training, meetings, and customer service purposes by 2030 (PwC, 2019).

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. 3 Decades innovating and delivering at the Intersection of Digital Media, Gaming & Comms 5d Edited 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. All B2B Directory Rights Reserved. In fact, since its inception, virtual reality has been a slow burner, and the one-dimensional progressed offered no reassurance. The benefits of VR/AR are just about limitless. #software #hardware #statistics Reports go further to reveal that 20% cite customer and business hesitation as an obstacle to embracing VR. 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. 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. VR stats for 2022 show that the VR gaming revenue sits at $1.1 billion. 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. It also experienced a 28-point increase in sales and a 7.9-point rise in brand awareness. Sony, Samsung Electronics, Google, Microsoft, HTC, Oculus (owned by Facebook), Eon Reality, and a few others (MarketsandMarkets, 2020). 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. Be nice. 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. As it happens with any new technology, estimates from different sources do not always match up; even one year of slower or faster performance than predicted can force major revisions in estimates, and the entry of a major player like Apple can completely change the ecosystem. In the U.S. alone, there are 50.2 million VR users. 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. As of 2019, Sony holds the largest percentage of the VR market at 36.7%. The global VR and AR market is projected to reach $1.5 trillion by 2030. 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 US is the second-largest investor and is forecast to spend $5.1 billion on virtual reality technology. The signs are encouraging, and when all hurdles are cleared, VRs transformative power will take full effect. qualified purchases, but this doesnt reflect on our reviews quality or product listings. Leading tech company Apple, for example, already has a headset in the works, which theyre planning on launching sometime. Forecast for the Number of Active Virtual Reality Users Worldwide From 2014 to 2018. 2016 Virtual Reality (VR) Market Size Revenue To Grow by USD 26.89 Billion in 2022.

Keep on visiting us. Virtual Reality (VR) Headset Unit Sales Worldwide From 2019 to 2024. Accessed on February 1, 2022.

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. VR, together with learning management software delivers multiple benefits and is, without a doubt, helpful in training. 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.

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