virtual reality statistics

Using VR, the ecommerce company digitally fitted models with their new designs. Until recently, consumers were dying with the hope that the technology will soon change the way they shop in-store and do things online. IDC. Closely followed by the United States and Western Europe. Augmented Reality Market - Key Statistics: In 2020, 83.1 million people in the US used AR every month. In 2016, the market was worth about $2.02 billion. Although there is no evidence that this immersive technology has gone mainstream, the statistics above point to a changing landscape. Here are the key AR and VR statistics: The global VR market is projected to reach $26.9 billion by 2027. As mentioned earlier, when VR technology first came, some overhyped it. This number has come down from 78% in 2017 earlier. (Newzoo) Mobile Video Game Statistics The way mobile games exploded onto the scene is unlike anything weve seen France is the European leader in this regard. 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. WebGood to know Virtual Reality Statistics To Know In 2023 What are your thoughts on the Hardware and or Software Site? VR stats for 2022 show that the adoption of VR in e-commerce can boost online shopping conversion by 17%. 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. This is almost 4x growth in just six years! 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. 6. Valued at $11.56 billion in 2019 by Grand View Research, the global VR gaming market size is anticipated to reach $92.3 billion by 2027 with a CAGR of 30.2% (Grand View Research, 2020; Grand View Research, 2020). There are 171 million active VR users in the world. The percentages are as follows: 15.6% of Also, VR can sometimes form a part of our real memory, due to excessive play. And theyre not stopping at one. 70% of professionals believe that organizations will focus on adopting VR/AR in training and development in 2021 Perkins Coie, 2020). Healthcare devices 38% Education 28% Workforce development 24% Manufacturing 21% Automotive 19% Marketing and advertising This would mean that there would be a total of 16.44 million VR headsets in use around the world. 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. Unfortunately, the lackluster performance of the VR industry in 2020 was $6.1B. Be the first to rate this post. In 2017, there have been only 6700 VR 27. This virtual reality report on marketing shows that the environment is ripe for marketers to move fast to capture audience interest. 48% of US consumers have had at least one VR experience. There are over 171 million VR users worldwide. Police officers with VR training are 2.7 times more likely to have successful missions. Companies | Devices | Trends and Projections. 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. Larger economies, including the US, UK, Germany, and China, are expected to be the most impacted. jobs set to be using AR and VR in one way or another for training, meetings, and customer service purposes by 2030 (PwC, 2019). However, AR is seen as more relevant and is more widely implemented than VR in manufacturing. 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. Statista. No breakthrough has been reached yet, but with global brands like IKEA, Audi, DHL, and Airbus adopting the VR experience, the future looks bright. It is followed by the distribution and services sector with 15.8%, and the manufacturing and resources sector at 13.8%. While the use of VR is not as advanced as the use of AR in manufacturing, its still supporting numerous use cases. This number is expected to continue to grow and reach just under 70 million by 2023. Was it affected by the global COVID-19 pandemic? Whether youre looking to adopt the technology for your ecommerce store or be a leading seller of its devices, its always better to get a jump on it sooner rather than later so why not get. Given the positive response of consumers to AR, 53% of them feel that retailers are failing to take advantage of the technology (ZDNet, 2021). 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. Forecast for the Number of Active Virtual Reality Users Worldwide From 2014 to 2018. Accessed on February 1, 2022. For example, there is a need to imbue VR technology with control and convenience, implement sound user experience design, and counter the rising smartphone competition. However, there are flashes of its outsized potential to streamline operations in retail, ecommerce, nongaming entertainment, employee development, manufacturing, and medical training. Also, a poor content offering by the VR industry was cited as an obstacle by 19% of respondents. Only 1% would feel negative about it while the remaining consumers are neutral. 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. Although the COVID-19 pandemic harmed the VR market worldwide, it is expected to make a good recovery this year. Experts also expect virtual reality to bring about economic advantages. Therell be about 70.8 million VR users in the US alone in 2023, equalling about 21% of the population. As well see in the next statistic, this growing popularity of VR is likely to continue at least for another few more years. When you purchase through links on As it stands, 14.94 million of these devices are expected to be shipped in 2022, a 54.2 percent increase from 2021s 9.69 million (IDC, 2021). are in no way influenced by the companies mentioned. Virtual Reality Revenue Statistics. It looks like more and more people in the US will be using VR soon. Stay on topic. Thats it for the most important virtual reality statistics of 2022. It is projected to reach $77 billion by 2025 (Research and Markets, 2020). Hardware issues, lack of content, and low growth beyond gaming are some of the problems making people think of VR as an overhyped fad. The global VR and AR market is projected to reach $1.5 trillion by 2030. Altering reality. All B2B Directory Rights Reserved. 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. Sectors driving the growth of virtual reality include gaming and entertainment (Grand View Research, 2019). Gaming has the lions share of VR content revenue, accounting for $1.2 billion in 2020 and is projected to rise to 1.4 billion by the end of 2021 (PwC, 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). Virtual reality market statistics predict that 58.9 million and 93.3 million people in the United States will use VR and AR respectively at least once a month this year. A smaller set of glasses is also expected to be up for sale the following year. This is done with the use of special devices such as headsets, goggles, gloves, and more, which allows users to explore and interact with these virtual worlds and their elements. In fact, the global virtual reality in the gaming market is forecast to grow rapidly over the next few years. 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%). Number of Jobs Enhanced by Augmented Reality (AR) and Virtual Reality (VR) in the United States From 2019 to 2030. This value will increase to 56% by the end of 2021. One example of this includes UK company ASOS adopting the technology in an effort to boost fashion sales amid the coronavirus pandemic. The projections for the next few years are even more awe-inspiring. 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? Virtual reality (VR) in the gaming market is expected to grow at a CAGR of 32.75% over the forecast period (2021 - 2026). Let's start with some general facts about the market. Christo knows very well how tech has revolutionized the way we live, communicate, and create value. 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 short answer is no. It places users in a simulation and allows them to immerse themselves in a different world. This will all change this decade, with as many as. Besides, there are massive adoption campaigns aimed at encouraging the consumer and enterprise markets to embrace this technology. 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%. Applying AR and VR in service and product development potentially influences a GDP boost of $360 billion by 2030 (PwC, 2019). 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). Sectors that have seen widespread adoption of and increased demand for VR include gaming and entertainment (Grand View Research, 2019). Statista. Virtual Reality (VR) Market Size is Projected To Reach USD 26860 Million By 2027 at a CAGR of 19.0% Valuates Reports. TechJury is his way to help users find detailed, unbiased information about all aspects of technology, the glorious opportunities it presents, the threats it poses, and the ways to stay safe in the modern world. Some of them have several issues, including that they are heavy and tie up the phone for the duration of use. 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 In particular, the use of VR in training workers like mechanics, pilots, and technicians is set to increase. 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. qualified purchases, but this doesnt reflect on our reviews quality or product listings. This number is expected to increase to 57.4 million in 2021 and further to 60.8 million in 2022. WebVirtual Reality (VR) is a technological interface that allows users to experience computer-generated environments within a controlled setting. The reality of VR technology has failed to live up to the hoopla around it for many consumers. Web3 Decades innovating and delivering at the Intersection of Digital Media, Gaming & Comms 1w Edited 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. WebVirtual Reality (VR) is no longer just a tool for gaming and entertainment. At the height of the COVID-19 pandemic, retailers who leveraged AR experienced a 19% increase in customer engagement as well as a 90% spike in customer conversions (Retail Customer Experience, 2020). 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. 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. This immersive technology is shaking things up across different industries, including retail and manufacturing. The most well-known brand in VR, however, is Samsung, thanks to its Gear VR headset. Statistics About Virtual Reality in Higher Education. 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). Virtual reality statistics for 2020 show that VR training reduces the chances of workplace injury. The MarketWatch News Department was not involved in the creation of this content. According to this survey of manufacturing companies from across the world, an additional 38% believe it will be mainstream technology in their organization in three to five years. This comes at no extra cost to you. 6. The sectors where AR and VR technology has been this beneficial include: The number of U.S. jobs that use AR or VR is projected to reach 2.32 million in 2030. This is an impressive improvement, considering that only 14 million VR devices were sold in 2019. 2016 Virtual Reality (VR) Market Size Revenue To Grow by USD 26.89 Billion in 2022. Accessed on February 1, 2022. VR adoption stats for 2022 show that 27% of VR industry experts claim that user experience (e.g. This is nearly ten times the $30.7 billion market size registered as recently as 2021. Analysts credit the AR and VR boom to the coronavirus pandemic, which sent the world into lockdown and forced offices to close and employees to work from home. . Statista. Statista. From 2021 to 2028, the compound annual growth rate of the virtual reality market is 18 percent (Grand View Research, 2021). In the healthcare sector, 68% of professionals believe that AR/VR training simulations will be the primary focus of new solutions and applications through 2022 (Perkins Coie, 2020). The VR industry market size is $7.72 billion. The US scores very high on companies that have proof of concepts or pilots but lags a bit in terms of wider-scale implementation. Keep it clean. The use of VR, coupled with a robust apparel management software, has been a revelation for retailers in this space. (Source: Greenlight Insights, GlobalWebIndex). Twenty-five percentage of internet users will be using VR in the US by 2023, which amounts to about 70.2 million people. That said, since its inception, the technology has created a digital imprint that has had a lasting impression on the consumer. Retail is seen to deliver the biggest commercial investment in AR/VR technology in 2024 at $7.3 billion (IDC, 2020). (Intel), Furthermore, Boeing is a prime example of how heavy industry can implement VR in trainING. Whats more, AR and VR headsets are projected to have massive sales of over 30 million units annually by the end of 2023. The global VR and AR market is projected to reach $1.5 trillion by 2030. Copyright 2023 FinancesOnline. Request Sample Airbus uses VR to optimize maintenance via simulated protocols. (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 technology is beginning to catch on in both the enterprise and commercial environments. There are 65.9 million VR users in the U.S., which is 15% of the countrys population. Among social VR activities of interest, playing games, watching videos, and video communication rank the highest. Estimated VR Device Shipment Share by Vendor Worldwide in 2018 and 2019. Accessed on February 1, 2022. With its innovative experience now a reality, businesses are keenly embracing the opportunities it presents. Here are some intriguing VR manufacturing statistics: Currently, VR is no longer limited to gaming. Virtual Reality (VR) Headset Unit Sales Worldwide in 4th Quarter 2019 and 4th Quarter 2020, by Device. Most users are also happy with the experience, with 55 percent of them saying theyre either extremely or moderately satisfied. Job Title. 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. 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. 57% of VR or AR device owners are male, while 43% are female. 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. VR stats for 2022 show that the VR gaming revenue sits at $1.1 billion. Wanna keep up with the latest VR trends? 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. This is great news for marketers. Keep on visiting us. According to VR statistics for 2022, the implementation and development of VR in engineering can reduce model design time by 10%, and construction time by 7%. For this reason and more, virtual reality data stats indicate that 70% of professionals believe that more businesses will use VR when training employees. VR gaming revenue is expected to reach $2.4 billion in 2024. His research has been featured on the New York Times, Thrillist, VOX, The Atlantic, and a host of local news. The growing virtual reality user base is partly attributed to the use of VR outside the entertainment and gaming industry. 25- to 34-year-olds account for 23% of VR/AR device users. Globe Newswire. 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). (19 percent) of US consumers have used VR in 2020a three percentage point increase from 16 percent in 2019 (AR Insider, 2020). VR experiences can significantly influence the purchasing decision of customers. In 2020, the world invested $12 billion into VR/AR gaming. This is down from the 43% it held in 2018. It will increase to 56% in 2021 (China Internet Watch, 2021). Its only the beginning, but the real-world usefulness of VR has prompted an increasing user base. PR Newswire. The online retail space has been crippled by the inability to try on new technologies like VR. The technology may soon become a permanent fixture in big data analytics. Since content encourages repeat use, which is one of the biggest factors of success, this is good news for the VR market. VR sets have traditionally been complicated, with multiple wires and controllers, or time-consuming to set up, and the variety of content has also not grown as fast as it has with other devices. There you have it a compilation of the most intriguing virtual reality statistics. As of 2023, there are 65.9 million VR users and 110.1 million AR users in the U.S. Today, the speed of growth has not changed, but the expanding VR use cases point to a rapid paradigm shift. 14.94 million units of AR and VR headsets are to be shipped to customers worldwide in 2022 (IDC, 2021). Before we jump into the statistics, lets very quickly cover what virtual reality is. In 2020, Chinas AR and VR purchases accounted for more than half of the $12 billion spent on this technology worldwide that year. Most users are also happy with the experience, with 55 percent of them saying theyre either extremely or moderately satisfied. 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. Its true that, for a long time, consumers have been hesitant about embracing VR technology. (Grand View Research) 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. Familiarity With VR Increases but Cost Remains a Hurdle. by different review sites shows that these brands dominate the list with their products. Movies like Ready Player One and partial VR viewability of events like the Super Bowl and the Winter Olympics have also contributed. More recently, he's been quoted on USA Today, BusinessInsider, and CNBC. In 2020, a brand called We Make Up created an AR filter on Facebook, which had a surprisingly positive effect on the brand. That said, let's check out the latest VR stats: So what does the future hold for the VR market? "According to some studies, the number of VR users worldwide grew Simpler devices like Oculus Go are likely to solve some of these issues. 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