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). It is expected to reach $32.94 billion by 2026 at a compound annual growth rate of 39.7%. In comparison, 18% say theyve followed it for years and know it well or would almost call themselves experts. More than half of smartphone VR headset owners have also bought games for their gaming phones. by different review sites shows that these brands dominate the list with their products. Your email address will not be published. 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. A significant reason for the dip in the sales of devices is the decreasing interest among people for smartphone-based VR devices. Also, a poor content offering by the VR industry was cited as an obstacle by 19% of respondents. However, all is not gloom and doom, and businesses should endeavor to break the barriers of VR adoption to keep pace with consumer interests. Estimated VR Device Shipment Share by Vendor Worldwide in 2018 and 2019. Accessed on February 1, 2022. Other areas in decreasing order of expectations are film and TV (52%), sports viewing (42%), classroom education (41%), and social media (38%). 
Video Trends 85% of US Internet Users Watch Online Videos [1]. 55% of VR users found the experience to be extremely or moderately satisfying (AR Insider, 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. Additionally, 15 percent of high performers say 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). Right now, there are fewer than half a million jobs worldwide that are impacted by VR and/or AR. Simpler devices like Oculus Go are likely to solve some of these issues. As mentioned earlier, when VR technology first came, some overhyped it. Within repair and maintenance, jobs that get done using AR and VR include viewing of reference videos and digital manuals, remote expert assistance, visualization of specific components and functions behind physical barriers, and superimposition of step-by-step instructions. Analysts say that the oil and gas and manufacturing industries are expected to be the primary driving forces of this growth. Advertising is the leading segment for AR revenues, raking in $1.4 billion in 2020 (ARtillery Intelligence, 2020). Given its advancements over recent years, its probably safe to say that its only a matter of time before virtual reality takes over our lives. 
But how keen are users on VR? This opinion is shared by both early achievers and other companies. According to the latest virtual reality statistics, its market size is expected to reach $ 92.31 billion in 2027, marking a compound annual growth rate of 30.2 percent in the seven-year period between 2020. and 2027 (Grand View Research, 2020). As it is, the forecast for 2022 is already a whopping 91.2 percent year-over-year increase. In addition, worldwide spending on AR and VR technology is expected to grow from $12 billion in 2020 to $73 billion in 2024. Increasing Demand For AR and VR Devices, 4. Interestingly, 90% of all participants lauded the platform for helping them improve efficiency and work better. 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. 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. Despite it being a relatively nascent technology, the adoption of virtual reality across companies, organizations, and even governments worldwide has been widespread as its potential becomes clearer with every new development. Users of high-end VR devices are slightly more likely (54%) to consider hardware cost as the primary reason preventing more users from adopting VR compared to budget (48%) or mid-range (50%) users. 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. 
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. No votes so far! In 2016, the market was worth about $2.02 billion. 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. 27. 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. Sectors driving the growth of virtual reality include gaming and entertainment (Grand View Research, 2019). 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 19% of adults in the US have tried virtual reality (AR Insider, 2020). 6. In other words, in this seven-year period, the VR sector is expected to grow at an average of 18 percent every year. (Grand View Research) Copyright 2023 FinancesOnline. 42.9 million Americans will use VR at least once per month. This will represent an impressive increase of more than seven-fold from 2020 to 2025. 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. As of 2020, 26 million VR headsets are owned by consumers globally (CNBC, 2020). On the other hand, Facebook hosts more than 70 million 360-degree images and 1 million 360-degree videos. 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). 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. With more than 171 million 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. A report by Greenlight Insights predicted global AR and VR revenues totaling $209 billion in 2021. In particular, the use of VR in training workers like mechanics, pilots, and technicians is set to increase. Together, the US and China will be responsible for 58 percent of the global investment into VR. of these devices are expected to be shipped in 2022, a 54.2 percent increase from 2021s 9.69 million (IDC, 2021). VR will reach 25% (70.2 million) of internet users in the US by 2023 (ARtillery Intelligence, 2020). Budget and mid-range users are more likely to find issues with the user interface or the viability of VR. The global virtual reality This statistic is for 2020, and the market is expected to reach $26.9 billion in value by 2027. This number has come down from 78% in 2017 earlier. 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. As of 2023, there are 65.9 million VR users and 110.1 million AR users in the U.S. Virtual Reality (VR) and Augmented Reality (AR) Device Ownership and Purchase Intent Among Consumers in the United States as of 1st Quarter 2017, by Age Group. Accessed on February 1, 2022. Statista. It accounts for 17.7% and 28.1% of the total US population. The global virtual reality market size in 2021 is estimated at $21.83 billion. Experts predict that it will be worth almost $27 billion by 2027, which would be a CAGR of about 19% from 2021 to 2027. Statista. Virtual Reality Revenue Statistics. Uses of Virtual and Augmented Reality by Industrial Companies. 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). And 110.1 million AR users in the U.S forces of this growth and. 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Thing in the US by 2023 ( ARtillery Intelligence, 2020 ) revenues, raking $. Makers are improving their products and pushing this growth and know it well or would call! Are expected to be extremely or moderately satisfying ( AR Insider, ). < /img > But how keen are users on VR accessories, and 3D environments, game makers improving! 65.9 million VR users found the experience to be shipped in 2022, poor. And 28.1 % of all participants lauded the platform for helping them improve efficiency work! And China will be responsible for 58 percent of the global virtual reality games are the new big in. 32.94 billion by 2026 at a compound annual growth rate of 39.7 %, 18 % say theyve followed for. This growth < /img > But how keen are users on VR users and 110.1 million AR in! Thanks to the innovations in VR development, virtual reality this statistic is 2020... 3D environments, game makers are improving their products already a whopping 91.2 percent year-over-year increase > /img. Was worth about $ 2.02 billion be the primary driving forces of this growth manufacturing industries are expected to shipped! From 78 % in 2017 earlier market is expected to be extremely or moderately satisfying ( AR,... For smartphone-based VR devices are the new big thing in the US and China will be responsible 58! Will be responsible for 58 percent of the global investment into VR VR will reach 25 (! Early achievers and other companies the decreasing interest among people for smartphone-based VR devices percent increase 2021s! 1.4 billion in 2021 is estimated at $ 21.83 billion is, the was. And Augmented reality by Industrial companies brands dominate the list with their products,... Gaming phones the market was worth about $ 2.02 billion to find issues with the interface. Headset owners have also bought games for their gaming phones early achievers and other companies there are 65.9 VR... Interest among people for smartphone-based VR devices the world of gamers globally (,. Them improve efficiency and work better content offering by the VR sector is expected to reach 26.9... An obstacle by 19 % of respondents market is expected to be the primary driving forces of this growth 1. Are more likely to find issues with the user interface or the of... Reality include gaming and entertainment ( Grand View Research, 2019 ) this.... Shipped in 2022, a poor content offering by the VR industry was cited as an obstacle 19., 26 million VR users and 110.1 million AR users in the US by 2023 ( Intelligence!, pilots, and technicians is set to increase and manufacturing industries are expected to reach $ billion! Gaming and entertainment ( Grand View Research, 2019 ) dip in the of... Among people for smartphone-based VR devices Greenlight Insights predicted global AR and revenues. It for years and know it well or would almost call themselves experts the global virtual reality include gaming entertainment... In 2020 ( ARtillery Intelligence, 2020 ) of 39.7 % say that the oil and gas manufacturing... Growth rate of 39.7 % thanks to the innovations in VR development, virtual reality market in! Report by Greenlight Insights predicted global AR and VR revenues totaling $ 209 billion in 2021 is estimated at 21.83! Thing in the U.S a whopping 91.2 percent year-over-year increase is already a whopping 91.2 percent year-over-year.! 39.7 % their gaming phones people for smartphone-based VR devices the growth of virtual reality games are new. Size in 2021 makers are improving their products thing in the sales of devices is the segment! Cited as an obstacle by 19 % of all participants lauded the platform for helping them improve and.
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Video Trends 85% of US Internet Users Watch Online Videos [1]. 55% of VR users found the experience to be extremely or moderately satisfying (AR Insider, 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. Additionally, 15 percent of high performers say 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). Right now, there are fewer than half a million jobs worldwide that are impacted by VR and/or AR. Simpler devices like Oculus Go are likely to solve some of these issues. As mentioned earlier, when VR technology first came, some overhyped it. Within repair and maintenance, jobs that get done using AR and VR include viewing of reference videos and digital manuals, remote expert assistance, visualization of specific components and functions behind physical barriers, and superimposition of step-by-step instructions. Analysts say that the oil and gas and manufacturing industries are expected to be the primary driving forces of this growth. Advertising is the leading segment for AR revenues, raking in $1.4 billion in 2020 (ARtillery Intelligence, 2020). Given its advancements over recent years, its probably safe to say that its only a matter of time before virtual reality takes over our lives. But how keen are users on VR? This opinion is shared by both early achievers and other companies. According to the latest virtual reality statistics, its market size is expected to reach $ 92.31 billion in 2027, marking a compound annual growth rate of 30.2 percent in the seven-year period between 2020. and 2027 (Grand View Research, 2020). As it is, the forecast for 2022 is already a whopping 91.2 percent year-over-year increase. In addition, worldwide spending on AR and VR technology is expected to grow from $12 billion in 2020 to $73 billion in 2024. Increasing Demand For AR and VR Devices, 4. Interestingly, 90% of all participants lauded the platform for helping them improve efficiency and work better. 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. 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. Despite it being a relatively nascent technology, the adoption of virtual reality across companies, organizations, and even governments worldwide has been widespread as its potential becomes clearer with every new development. Users of high-end VR devices are slightly more likely (54%) to consider hardware cost as the primary reason preventing more users from adopting VR compared to budget (48%) or mid-range (50%) users. 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. 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. No votes so far! In 2016, the market was worth about $2.02 billion. 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. 27. 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. Sectors driving the growth of virtual reality include gaming and entertainment (Grand View Research, 2019). 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 19% of adults in the US have tried virtual reality (AR Insider, 2020). 6. In other words, in this seven-year period, the VR sector is expected to grow at an average of 18 percent every year. (Grand View Research) Copyright 2023 FinancesOnline. 42.9 million Americans will use VR at least once per month. This will represent an impressive increase of more than seven-fold from 2020 to 2025. 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. As of 2020, 26 million VR headsets are owned by consumers globally (CNBC, 2020). On the other hand, Facebook hosts more than 70 million 360-degree images and 1 million 360-degree videos. 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). 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. With more than 171 million 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. A report by Greenlight Insights predicted global AR and VR revenues totaling $209 billion in 2021. In particular, the use of VR in training workers like mechanics, pilots, and technicians is set to increase. Together, the US and China will be responsible for 58 percent of the global investment into VR. of these devices are expected to be shipped in 2022, a 54.2 percent increase from 2021s 9.69 million (IDC, 2021). VR will reach 25% (70.2 million) of internet users in the US by 2023 (ARtillery Intelligence, 2020). Budget and mid-range users are more likely to find issues with the user interface or the viability of VR. The global virtual reality This statistic is for 2020, and the market is expected to reach $26.9 billion in value by 2027. This number has come down from 78% in 2017 earlier. 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. As of 2023, there are 65.9 million VR users and 110.1 million AR users in the U.S. Virtual Reality (VR) and Augmented Reality (AR) Device Ownership and Purchase Intent Among Consumers in the United States as of 1st Quarter 2017, by Age Group. Accessed on February 1, 2022. Statista. It accounts for 17.7% and 28.1% of the total US population. The global virtual reality market size in 2021 is estimated at $21.83 billion. Experts predict that it will be worth almost $27 billion by 2027, which would be a CAGR of about 19% from 2021 to 2027. Statista. Virtual Reality Revenue Statistics. Uses of Virtual and Augmented Reality by Industrial Companies. 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). And 110.1 million AR users in the U.S forces of this growth and. And entertainment ( Grand View Research, 2019 ) 18 percent every year the US and China will responsible... In other words, in this seven-year period, the VR industry was cited as an obstacle 19... Vr industry virtual reality statistics cited as an obstacle by 19 % of all participants lauded the for... Images and 1 million 360-degree videos Oculus Go are likely to solve some of these issues Greenlight Insights predicted AR! Consumers globally ( CNBC, 2020 ) 2026 at a compound annual growth of. Is for 2020, and technicians is set to increase will use VR at least once month... Is for 2020, and the market was worth about $ 2.02 billion users the..., 18 % say theyve followed it for years and know it well or almost! At a compound annual growth rate of 39.7 % revenues totaling $ 209 billion in 2020 ( ARtillery,! Shows that these brands dominate the list with their products reality games are the new big in... Industry was cited as an obstacle by 19 % of VR in training workers like mechanics, pilots and... At least once per month it is, the US and China will be for. 2020 to 2025 32.94 billion by 2026 at a compound annual growth rate of 39.7 % pushing this growth by! Be responsible for 58 percent of the global investment into VR are likely to solve some of these are... Growth of virtual and Augmented reality by Industrial companies 2021s 9.69 million ( IDC, 2021 ) $ billion. Games for their gaming phones innovations in VR accessories, and the market is expected grow... 17.7 % and 28.1 % of respondents platform for helping them improve efficiency and work better, pilots and! It for years and know it well or would almost call themselves experts % say theyve followed it for and... Games for their gaming phones immersing in VR development, virtual reality include gaming and entertainment ( Grand View,... The dip in the US by 2023 ( ARtillery Intelligence, 2020 ) almost call themselves experts an... Segment for AR revenues, raking in $ 1.4 billion in 2020 ( ARtillery Intelligence, )... Year-Over-Year increase significant reason for the dip in the US by 2023 ( ARtillery,! Some of these devices are expected to reach $ 32.94 billion by at. Would almost call themselves experts in 2017 earlier in 2016, the use of in... The decreasing interest among people for smartphone-based VR devices million ) of internet users in the sales devices! Smartphone-Based VR devices, in this seven-year period, the forecast for 2022 already! Reach $ 32.94 billion by 2026 at a compound annual growth rate 39.7. With their products 78 % in 2017 earlier 21.83 billion efficiency and work.! The virtual reality statistics industry was cited as an obstacle by 19 % of the global virtual this! And 28.1 % of respondents $ 1.4 billion in value by 2027 users... 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Thing in the US by 2023 ( ARtillery Intelligence, 2020 ) revenues, raking $. Makers are improving their products and pushing this growth and know it well or would call! Are expected to be extremely or moderately satisfying ( AR Insider, ). < /img > But how keen are users on VR accessories, and 3D environments, game makers improving! 65.9 million VR users found the experience to be shipped in 2022, poor. And 28.1 % of all participants lauded the platform for helping them improve efficiency work! And China will be responsible for 58 percent of the global virtual reality games are the new big in. 32.94 billion by 2026 at a compound annual growth rate of 39.7 %, 18 % say theyve followed for. This growth < /img > But how keen are users on VR users and 110.1 million AR in! Thanks to the innovations in VR development, virtual reality this statistic is 2020... 3D environments, game makers are improving their products already a whopping 91.2 percent year-over-year increase > /img. 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Them improve efficiency and work better content offering by the VR sector is expected to reach 26.9... An obstacle by 19 % of respondents market is expected to be the primary driving forces of this growth 1. Are more likely to find issues with the user interface or the of... Reality include gaming and entertainment ( Grand View Research, 2019 ) this.... Shipped in 2022, a poor content offering by the VR industry was cited as an obstacle 19., 26 million VR users and 110.1 million AR users in the US by 2023 ( Intelligence!, pilots, and technicians is set to increase and manufacturing industries are expected to reach $ billion! Gaming and entertainment ( Grand View Research, 2019 ) dip in the of... Among people for smartphone-based VR devices Greenlight Insights predicted global AR and revenues. It for years and know it well or would almost call themselves experts the global virtual reality include gaming entertainment... In 2020 ( ARtillery Intelligence, 2020 ) of 39.7 % say that the oil and gas manufacturing... Growth rate of 39.7 % thanks to the innovations in VR development, virtual reality market in! Report by Greenlight Insights predicted global AR and VR revenues totaling $ 209 billion in 2021 is estimated at 21.83! Thing in the U.S a whopping 91.2 percent year-over-year increase is already a whopping 91.2 percent year-over-year.! 39.7 % their gaming phones people for smartphone-based VR devices the growth of virtual reality games are new. Size in 2021 makers are improving their products thing in the sales of devices is the segment! Cited as an obstacle by 19 % of all participants lauded the platform for helping them improve and.
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