Analysts say that the oil and gas and manufacturing industries are expected to be the primary driving forces of this growth. While the use of VR is not as advanced as the use of AR in manufacturing, its still supporting numerous use cases. Given the positive response of consumers to AR, 53% of them feel that retailers are failing to take advantage of the technology (ZDNet, 2021). 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. With its widespread adoption in training, education, and healthcare, the VR market There you have it a compilation of the most intriguing virtual reality statistics. This article explores the science behind the therapy, the

VR will reach 25% (70.2 million) of internet users in the US by 2023 (ARtillery Intelligence, 2020). Statistics About Virtual Reality in Higher Education. According to a worldwide survey of startup founders, tech company executives, investors, and consultants, 59% of respondents believe gaming will dominate the investment directed to the development of AR/VR technology. As of 2023, there are 65.9 million VR users and 110.1 million AR users in the U.S. Predictions have been made that China will have the most significant AR/VR spending at 36% by the same year. However, its time businesses trashed the fear they have about implementing this technology. In 2020, Chinas AR and VR purchases accounted for more than half of the $12 billion spent on this technology worldwide that year.

There are 110.1 million AR users in the U.S. The same source stated that the largest VR spending was in the consumer sector, amounting to 53%. Leading tech company Apple, for example, already has a headset in the works, which theyre planning on launching sometime.

(Grand View Research) , which marks a compound annual growth rate of 30.2 percent in the seven-year period between 2020 and 2027 (Grand View Research, 2020). 10 Virtual Reality Statistics You Should Know in 2022 - Oberlo 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). As these virtual reality statistics show, virtual reality (VR) and augmented reality (AR) technologies are now more accessible than ever. The number of VR users worldwide is expected to reach 111 million by 2025. Between 2021 and 2028, the compound annual growth rate of the market is expected to come in at. Issues like motion sickness with prolonged use or lack of viable use-cases are not a major concern for high-end device users. In terms of gender, 30% of men surveyed had used a VR headset at least once compared to only 16% among women. Yes, VR is growing in popularity. 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).

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. Be nice. Advertising is the leading segment for AR revenues, raking in $1.4 billion in 2020 (ARtillery Intelligence, 2020). WebThere is so much to be excited about.

Tethered headsets, which require a connection with a computer, smartphone, or gaming console for use, will stay around for a while, selling 18 million units in 2022. 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. In 2017, there have been only 6700 VR

27. There are reasons to believe a bright future is burgeoning for VR. PR Newswire. No spam. Virtual Reality Revenue Statistics. The statistics below affirm its growing influence.

Before we jump into the statistics, lets very quickly cover what virtual reality is.

PC VR gaming revenue in 2020 was valued at $189 million with a CAGR of 119% (Superdata, 2020). Our reviews

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. The Oculus Quest 2 was the top-selling VR headset at the end of 2020, with over one million units sold.

However, standalone devices like Oculus Quest are expected to drive future sales.

"According to some studies, the number of VR users worldwide grew Some of the places where the use of VR is gathering steam include workplace layout and design, equipment design, and product development. The use of VR, coupled with a robust apparel management software, has been a revelation for retailers in this space. Finally, the dawn seems to be at hand, and the roller coaster-like hype series has giving birth to real VR experiences. The consumer VR market worldwide is predicted to reach $3.7 billion at the end of 2021..

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. 61% of customers prefer online shops that offer AR experiences (BigCommerce, 2020).

Most people see VRs greatest potential in gaming, while 52% of responses cited TV and Do not wait to jump the bandwagon when VR goes mainstream.

IKEA, Wayfair, and Lowes have implemented the VR experience, and the benefits are there for everyone to see. Until then, leveraging the massive opportunities of this technology will remain elusive.

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 use of VR technology has enabled Airbus to reduce the duration of maintenance processes by 25% (Airbus, 2019). It is a digitally created, three-dimensional environment generated using advanced computer technology. 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.

Video Trends 85% of US Internet Users Watch Online Videos [1].

Forecast for the Number of Active Virtual Reality Users Worldwide From 2014 to 2018. Accessed on February 1, 2022. The percentages are as follows: 15.6% of Consulting) 79% of Americans who experienced AR used it to play video games. Its still early to speculate. With that in mind, we are sure these latest sets of statistics will help provide a clearer idea of virtual reality market growth, changes in perception among consumers, and its utility in business.

Forecast for the Number of Active Virtual Reality Users Worldwide From 2014 to 2018. 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. 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%). our site, we may earn an affiliate commission. With more than 171 million 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. Virtual reality market projections reveal consumer and commercial usages will gain more followers in recent years. Virtual Reality Growth in the Gaming Market, 10.

6. The global VR market is worth $7.72 billion. On the other hand, many underestimated the emerging technology, and its no surprise, then, that VR growth stalled. This immersive technology is shaking things up across different industries, including retail and manufacturing. Additionally, 15 percent of high performers say (Source: Greenlight Insights, GlobalWebIndex).

The market for VR is $7.72 billion.

Sectors that have seen widespread adoption of and increased demand for VR include gaming and entertainment (Grand View Research, 2019). jobs set to be using AR and VR in one way or another for training, meetings, and customer service purposes by 2030 (PwC, 2019). Comparatively, there are 16.8% of the Hispanic or Latino ethnicity and 10.7% of the Asian ethnicity.

Compared to other industries, the virtual reality gaming space has won a notable market size. This is based on expectations that the global market value will increase from $7.7 billion in 2020 to $26.9 billion in 2027. The report also predicts that VR will lead to a growing number of employment opportunities.

However, there are flashes of its outsized potential to streamline operations in retail, ecommerce, nongaming entertainment, employee development, manufacturing, and medical training. 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). This immersive technology continues to make impressive progress, exhibiting its massive potential to upend multiple industries.

And theyre not stopping at one.

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. 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. 19% of adults in the US have tried virtual reality (AR Insider, 2020). 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). 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. 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.

WebVirtual Reality (VR) is no longer just a tool for gaming and entertainment. Companies | Devices | Trends and Projections. It is followed by the distribution and services sector with 15.8%, and the manufacturing and resources sector at 13.8%. So much is already here and so much is coming.

After years of wandering, this fantastic technology has now entered the wider business sphere. Job Title.

In other words, in this seven-year period, the VR sector is expected to grow at an average of 18 percent every year.

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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. Sectors Driving Virtual Reality Growth, 8. 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. 75% of industrial companies that have implemented large-scale VR and AR technologies saw a 10% increase in operations. Under, 10 Reasons to Monitor Your Kids' Smartphone and Online Activity, The Stupendous World of Google Search Statistics, How to Hide Your IP Address - Made Easy for Beginners, 50 Data Breach Statistics to Help You Be Prepared in 2023, How to watch High School DxD in order? Sony, Samsung Electronics, Google, Microsoft, HTC, Oculus (owned by Facebook), Eon Reality, and a few others (MarketsandMarkets, 2020). Statista.

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A report by Greenlight Insights predicted global AR and VR revenues totaling $209 billion in 2021. Here are some intriguing VR manufacturing statistics: Currently, VR is no longer limited to gaming.

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. 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 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. VR, together with learning management software delivers multiple benefits and is, without a doubt, helpful in training. WebThe global virtual reality market size in 2021 is estimated at $21.83 billion. The global virtual reality For this reason and more, virtual reality data stats indicate that 70% of professionals believe that more businesses will use VR when training employees. Only 7% want to decrease the amount they are spending on VR devices. His research has been featured on the New York Times, Thrillist, VOX, The Atlantic, and a host of local news. Video is one of the most popular informational resources and video platforms have sprouted vibrant communities. All B2B Directory Rights Reserved.

Aside from retail, manufacturing, and training, VR is slowly creeping into the data visualization industry.

This results in millions to hundreds of millions of dollars that these companies are saving or earning. Be the first to rate this post.

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). The global giant cut training time by 75% by implementing VR technology. It also experienced a 28-point increase in sales and a 7.9-point rise in brand awareness. The market size of virtual reality is projected to increase from 6.2 billion dollars in 2019 to 16 billion by 2022. 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). 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 Oberlo uses cookies to provide necessary site functionality and improve your experience.

Together, the US and China will be responsible for 58 percent of the global investment into VR. Number of Virtual Reality (VR) and Augmented Reality (AR) Users in the United States From 2017 to 2023. Accessed on February 1, 2022. 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. From 2018 to 2022, the number of monthly users of VR will have increased by 75.7% (Oberlo, 2020). based on our tests and personal experience with a product/service. Sectors driving the growth of virtual reality include gaming and entertainment (Grand View Research, 2019).

Statista.

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