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. The lifelike rendering of experiences encourages consumers to spend money to experience the real deal, too. 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). Investments in AR and VR were estimated Of the estimated $72.8 billion projected to be spent on AR and VR in 2024, China is expected to account for 36% of that. (Tech Trends). Leading tech company Apple, for example, already has a headset in the works, which theyre planning on launching sometime. 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. This compares poorly with other technologies like smartphones, tablets, and laptops. What will virtual reality do? 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. The consumer VR market worldwide is predicted to reach $3.7 billion at the end of 2021.. In the U.S. alone, there are 50.2 million VR users. 61% of customers prefer online shops that offer AR experiences (BigCommerce, 2020). This is a significant boost compared to what we had in 2020 52.1 million and 82.1 million people in the US used AR and VR at least once per month. 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. 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. In 2018, the size of the worldwide augmented reality and virtual reality market was estimated to be $27 billion. Meanwhile, another report from Research and Markets appraised the virtual reality market at $6.1 billion in 2020 with an annual growth rate of 27.9%, projected to reach $20.9 billion by 2025 (Research and Markets, 2020). VR revenues accounted for about 36% of this sum. 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. (Grand View Research) VR training reduces the occurrence of workplace injuries by 43% (Chaos Theory Games, 2020). WebVirtual Reality Games Can Be Used as a Tool in Personnel Assessment Mar. More recently, he's been quoted on USA Today, BusinessInsider, and CNBC. After years of wandering, this fantastic technology has now entered the wider business sphere. The benefits of VR/AR are just about limitless. Not all is fine and dandy, however. This number has come down from 78% in 2017 earlier. 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. And theyre not stopping at one. Also, a poor content offering by the VR industry was cited as an obstacle by 19% of respondents. So, how much is the VR market worth? WebVirtual Reality (VR) is no longer just a tool for gaming and entertainment. In 2016, the market was worth about $2.02 billion. From 2021 to 2028, the compound annual growth rate of the virtual reality market is 18 percent (Grand View Research, 2021). This article explores the science behind the therapy, the jobs set to be using AR and VR in one way or another for training, meetings, and customer service purposes by 2030 (PwC, 2019). In terms of revenue, the Virtual Reality (VR) in Gaming market size was valued at around US$ 13.4 Billion in 2019 and is projected to reach US$ 90.7 billion by 2026. WebVR Market Statistics 13. Let's see some of the possibilities. This is nearly ten times the $30.7 billion market size registered as recently as 2021. Nestor Gilbert is a senior B2B and SaaS analyst and a core contributor at FinancesOnline for over 5 years. This results in an increase in overall efficiency. Although the COVID-19 2. It is expected to reach $32.94 billion by 2026 at a compound annual growth rate of 39.7%. Maybe VR is the next big thing in magnifying learning from each customer experience for ecommerce businesses. This then begs the question: What are some of the key drivers behind such impressive growth?

#software #hardware #statistics VR Visualization in Gaming This will all change this decade, with as many as 23 million jobs set to be using AR and VR in one way or another for training, meetings, and customer service purposes by 2030 (PwC, 2019).

influenced by any of our partners. Airbus uses VR to optimize maintenance via simulated protocols. Additionally, 15 percent of high performers say 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. 2016 Virtual Reality (VR) Market Size Revenue To Grow by USD 26.89 Billion in 2022. This number looks a bit small, considering there were about 1 billion AR users alone in 2020. Research has shown that training that incorporates VR reduces the chances of work-related injuries by 43%. The statistics below affirm its growing influence. In fact, since its inception, virtual reality has been a slow burner, and the one-dimensional progressed offered no reassurance. In terms of gender, 30% of men surveyed had used a VR headset at least once compared to only 16% among women. Besides, the company projected that the 5-year ROI of a single VR-based course could reach 300%. VR stats for 2022 show that the VR gaming revenue sits at $1.1 billion. 171 million people use VR technology globally. Here are the key AR and VR statistics: The global VR market is projected to reach $26.9 billion by 2027. Experts also expect virtual reality to bring about economic advantages. Budget and mid-range users are more likely to find issues with the user interface or the viability of VR. IDC. This results in millions to hundreds of millions of dollars that these companies are saving or earning. This is based on expectations that the global market value will increase from $7.7 billion in 2020 to $26.9 billion in 2027. and lower prices. This is an impressive improvement, considering that only 14 million VR devices were sold in 2019. In other words, in this seven-year period, the VR sector is expected to grow at an average of 18 percent every year. On the other hand, as online retail grapples with the skepticism, the brick-and-mortar retailers, especially those in the fashion and apparel industries, have gone all out to implement the VR experience. on the technology in 2020 (Statista, 2019). 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%. 30% of mobile AR users are open to the idea of making in-app purchases (ARtillery Intelligence, 2020). Right now, there are fewer than half a million jobs worldwide that are impacted by VR and/or AR. 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. VR, together with learning management software delivers multiple benefits and is, without a doubt, helpful in training. So how well prepared are you for the future when VR becomes a fixture of daily life? 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. Virtual Reality (VR) Headset Unit Sales Worldwide From 2019 to 2024. Accessed on February 1, 2022. Until recently, consumers were dying with the hope that the technology will soon change the way they shop in-store and do things online. based on our tests and personal experience with a product/service. Augmented and virtual reality technology has become increasingly accessible and widely used over the past few years and only seems to be growing in popularity. The VR market is estimated to reach $20.9 billion by 2025. Let us know in the comments below! Statista. Similar contrasting figures for other metrics are 55% vs. 23% for safety increase, 52% vs. 21% for productivity increase, and 47% vs. 19% for complexity reduction. The use of VR technology has enabled Airbus to reduce the duration of maintenance processes by 25% (Airbus, 2019). VR will reach 25% (70.2 million) of internet users in the US by 2023 (ARtillery Intelligence, 2020). Statista. VR is also particularly popular in the education sector, which includes the use of it to train doctors and aircraft pilots. 19% of adults in the US have tried virtual reality (AR Insider, 2020). 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. 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). But how keen are users on VR? 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. Unfortunately, the lackluster performance of the VR industry in 2020 was $6.1B. Key VR and AR Statistics and Facts That Are Currently Changing the World: Video games and social content make up nearly 80% of developed content for augmented, mixed, virtual, and cross-reality platforms. In 2020, Chinas AR and VR purchases accounted for more than half of the $12 billion spent on this technology worldwide that year. 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. VR training has a retention rate of 75%, beating out lectures (5%), reading (10%), and audio-visual learning (20%) (FrontCore, 2020). There you have it a compilation of the most intriguing virtual reality statistics. Forecast for the Number of Active Virtual Reality Users Worldwide From 2014 to 2018. Accessed on February 1, 2022. The market size of AR and VR is forecast to hit $296.9 billion in 2024 (Statista, 2021). The VR market size is forecast to reach $92.31 billion in 2027 (Grand View Research, 2020). This immersive technology continues to make impressive progress, exhibiting its massive potential to upend multiple industries. More and more US residents are also expected to start using VR more frequently. are in no way influenced by the companies mentioned. A smaller set of glasses is also expected to be up for sale the following year. Now lets jump into how popular VR has become and some of the driving factors behind its growth. 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). VR adoption stats for 2020 showed that there were 57.4 million VR users in the US and 90.9 million AR users. This will represent an impressive increase of more than seven-fold from 2020 to 2025. (Source: Greenlight Insights, GlobalWebIndex). 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). 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. This is a remarkable improvement from just 45% in 2015. But the industry is growing and there are surely amazing things ahead. Statista. The majority of these are VR devices, which represent 91 percent of the total number of VR and AR devices that are expected to be shipped out this year. 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). And it looks like the only way is up, as predictions show that figure will rise by 37.7 million in 2022. The discrete manufacturing sector is expected to receive commercial VR investments amounting to $5.9 billion in 2024 while process manufacturing will have 5.1 billion (IDC, 2020). (Virtual Perceptions). 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. The online retail space has been crippled by the inability to try on new technologies like VR. The upward trend will likely continue, as projections for 2024 put potential revenue at $12.9 billion. VR adoption stats for 2022 show that 27% of VR industry experts claim that user experience (e.g. A considerable number of these experts focused their answers on the transformative potential of artificial intelligence (AI), virtual reality (VR) and augmented reality (AR). Retail is seen to deliver the biggest commercial investment in AR/VR technology in 2024 at $7.3 billion (IDC, 2020). Leading brands are catching up to the potential of VR. Global spending by the manufacturing and resources sector on AR/VR technology in 2020 amounted to $1.66 billion (IDC, 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. our site, we may earn an affiliate commission. 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. In the same research, the augmented reality market was valued at $15.3 billion in 2020 with an annual growth rate of 38.1%. From its use in the fashion industry to its role in some of the best LMS software, these statistics will open your eyes to massive possibilities. Web3 Decades innovating and delivering at the Intersection of Digital Media, Gaming & Comms 1w Edited Interestingly, 90% of all participants lauded the platform for helping them improve efficiency and work better. 52.1 million people in the US will use virtual reality technology at least once per month in 2020 (eMarketer, 2020). Be nice. 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). 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. Besides, there are massive adoption campaigns aimed at encouraging the consumer and enterprise markets to embrace this technology. Other parts of the value chain where AR and VR are seeing major implementation are design and assembly, immersive training, and inspection and quality assurance. 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). He has hired over 50 people in his career, been hired five times, and wants to help you land your next job. Mainly, in-store retailers are determined to use VR technology to repress the home-try-on effect, which has been a vexing problem. (Grand View Research) According to a recent report, the virtual reality markets growth for the period By using our website, you agree to our privacy policy. Product pages that offered AR and 3D experiences drove a 13% increase in the average size of orders and a 21% spike in revenues per visit (Retail Customer Experience, 2020). Given the positive response of consumers to AR, 53% of them feel that retailers are failing to take advantage of the technology (ZDNet, 2021). AR is even more commonplace in the U.S. and has 83.7 million users. Investments in AR and VR were estimated to be $915 million in 2020 (Superdata, 2020). Because VR is still a relatively new technology, there are only a handful of major players in the current market. VR statistics for 2021 indicate that the consumer virtual reality (both hardware and software) market size is projected to experience an increase of $1.1 billion, compared to what we had in 2020. 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). China accounted for 38.3% of the global AR/VR share in 2020. By 2030, 23 million jobs will be using AR and VR in one way or another (PwC, 2019). 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). EU Office: Grojecka 70/13 Warsaw, 02-359 Poland, US Office: 120 St James Ave Floor 6, Boston, MA 02116. 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. Right now, there are fewer than half a million jobs worldwide that are impacted by VR and/or AR. Most people think of gaming when they think of AR, and this is understandable, as the VR gaming industry is worth $1.1 billion. 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. 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. As far as VR/AR and other immersive technologies going mainstream is concerned, 37% of businesses think it will happen in two to five years, 25% within 2 years, 17% in the next 5-8 years, 15% in less than 2 years, and 6% in 8-10 years (Perkins Coie, 2020). The report also predicts that VR will lead to a growing number of employment opportunities. It also experienced a 28-point increase in sales and a 7.9-point rise in brand awareness. They say these digital enhancements or alternatives will have growing impact on everything online and in the physical world. In comparison, PlayStations VR headset sold 125,000 units at the end of 2020. 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. This value will increase to 56% by the end of 2021. The 360-degree videos hosted on Facebook have generated over 580 million views. Wanna keep up with the latest VR trends? This means that 13% of the American population used VR once a month in 2019. Issues like motion sickness with prolonged use or lack of viable use-cases are not a major concern for high-end device users. This opinion is shared by both early achievers and other companies. This is up from the approximately $12 billion spent on AR and VR in 2020 and creates a five-year CAGR of 54%. This is nearly ten times the $30.7 billion market size registered as recently as 2021. Consumers who do not use the tech say theyre simply not interested in giving it a try or discovering it, which will prove to be a challenge for VR developers. This number is expected to continue to grow and reach just under 70 million by 2023. There are reasons to believe a bright future is burgeoning for VR. 53% of organizations use VR/AR technology for product engineering and virtual design (TechRepublic, 2020). 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. The biggest driver of this is expected to come from millennials, whose demand for tech-advanced games will push game developers to rely more on VR to meet rising standards. bulky hardware and technical glitches) is an obstacle to the mass adoption of VR. Consumer spending on mobile AR amounted to $1.3 billion in 2020, a vast majority of which coming from in-app purchases. From 2018 to 2022, the number of monthly users of VR will have increased by 75.7% (Oberlo, 2020). Forecast for the Number of Active Virtual Reality Users Worldwide From 2014 to 2018. Since 2015, the number of VR users has been rising. Aside from retail, manufacturing, and training, VR is slowly creeping into the data visualization industry. The VR gaming industry has also recorded an accelerated growth rate, and the penetration has been encouraging. 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). 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). However, there are even more AR users in the U.S., with 83.7 using this technology. Furthermore, Pokemon Gos lifetime revenue is $4.2 billion (ARtillery Intelligence, 2020). Virtual Reality: Future Predictions on Economy and Employment, 7. And theyre not stopping at one. There are 171 million people across the globe using virtual reality. 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. This value is expected to grow to $1.6 billion by 2022 and eventually reach $2.4 billion by 2024. The major players in the current VR market include Sony, Samsung Electronics, Google, Microsoft, HTC, and Oculus (MarketsandMarkets, 2020). WebThere is so much to be excited about. We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website. The latest virtual reality statistics show that. Number of Virtual Reality (VR) and Augmented Reality (AR) Users in the United States From 2017 to 2023. 25- to 34-year-olds account for 23% of VR/AR device users. In 2017, there were just 22 million VR users in the U.S., and by 2020 there were 50.2 million users. As an Amazon Associate we earn commissions from qualified purchases. 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 is a sharp increase from the $0.8 billion in revenue the global industry earned in 2019. However, standalone devices like Oculus Quest are expected to drive future sales. Larger economies, including the US, UK, Germany, and China, are expected to be the most impacted. It was estimated that 6.1 million VR headsets would be sold in 2021. However, he also provides in-depth reviews on a wide range of software solutions to help businesses find suitable options for them. Its only the beginning, but the real-world usefulness of VR has prompted an increasing user base. Feature papers represent the most advanced research with significant potential for high impact in the field. Almost two-thirds of users in the virtual reality survey believed that gaming is the area that will benefit the most from VR technology. Meanwhile, the rest of the world spent $2.8 billion on AR/VR (IDC, 2019). 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%. Soon, the interactive and immersive experiences of the tech will be brought to your customers as artificial intelligence redefined customer service. This will all change this decade, with as many as. Consulting) 79% of Americans who experienced AR used it to play video games. Virtual reality usage by industry Some industries use VR and AR more than others and most likely, well see these percentages grow. The estimation of the combined global VR and AR market by IDC for 2020 was $12 billion. 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. 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. Statista. This is closely followed by upskilling employees by in-house specialized training, partnering with academic institutions, and hiring people with AR/VR expertise, in that order. 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. Professional Services Automation Software - PSA, Project Portfolio Management Software - PPM, 74 Virtual Reality Statistics You Must Know in 2023: Adoption, Usage & Market Share, virtual and augmented reality headset shipments in 2020 amounted to 5.5 million units, 2.7 times more likely to participate in successful missions, magnifying learning from each customer experience, 25.92% of gamers on Steam have Facebooks Oculus Rift S headset, artificial intelligence redefined customer service.

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