It also found 83 percent said that the pace of investment will increase in 2022 and 37 percent expect a significantly higher pace of investment than in previous years. The global virtual reality market is expected to top $34 billion by 2023. However, most of the content produced for VR platforms is aimed at gaming and social interaction. Conversely, newspapers, magazines, traditional TV, and home video will shrink 1 percent, forecasts, PwCs Global Entertainment & Media Outlook 20212025. The much lower price compared to console and PC headsets - and the fact mobile headsets are often bundled with premium phones - are key factors that contribute to their rapid market proliferation. The next most interested group are Gen Z-ers, of whom nearly a fifth would buy this technology. [6] The global augmented reality (AR), virtual reality (VR), and mixed reality (MR) That can be either affordable headsets one plugs into their smartphone, or state-of-the-art tech, like Valve Index or Pimax 8K. VR statistics are expected to improve as headsets become cheaper and more widely available. Virtual reality sales are still predominantly focused around gaming, so we can expect investments in this sector to increase in the future as well. The following were our top virtual reality statistics and survey insights set to section do not reflect those of DataProt. content after in-depth research, and advertisers have no control over the personal opinions expressed by As it is, the forecast for 2022 is already a whopping 91.2 percent year-over-year increase. And, more people have been using it thanks to ARs easier gate of entry. Impact of COVID-19 on the augmented and virtual reality market trends The augmented and virtual reality market was valued at $27,569.23 million in 2021, and is projected to reach $856,166.61 million by 2031, registering a CAGR of 41.1%. In the 55+ age bracket, that figure drops to 19%. Considering VR adoption rate spiked thanks to it, you might have expected that Half-Life: Alyx is Steams bestseller in the VR category. Learn more about how Statista can support your business. In a few more years, it may even take over more aspects of our lives. Both AR and VR industry growth are predicted to skyrocket in the coming years, and the VR adoption rate will keep increasing. Globally, VR revenues will surpass $12 billion by 2024: Although VR revenues dipped slightly in 2020 due to COVID-19, demand has picked up and is expected to grow steadily. ", The Insight Partners, Augmented reality (AR), virtual reality (VR), and mixed reality (MR) market size worldwide in 2021 and 2028 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/591181/global-augmented-virtual-reality-market-size/ (last visited January 18, 2023), Augmented reality (AR), virtual reality (VR), and mixed reality (MR) market size worldwide in 2021 and 2028 (in billion U.S. dollars) [Graph], The Insight Partners, March 14, 2022. Our website by Jasmine Katatikarn | Last updated Dec 6, 2022. This aligns with industry investors predictions that North America and Asia will continue to be the prime AR and VR investment regions. Metaverse Meaning - What is this New World Everyone's Talking About? VR allows you to live a story rather than being a passive observer, leaning into the wants of this younger demographic. According to experts predictions, there are 32.7 million people experiencing VR within the United States. 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). The tech is becoming more affordable, apps and games more immersive, and more people are interested in it, according to statistics on VR users. Simplistic in nature, it proved to be a great way to exercise, attracting millions of players of all ages. There are no major studies that we know of, but ophthalmologists agree that VR is no worse for the eyes than a computer screen. Companies looking to expand their marketing strategies should strongly consider starting to contribute to VR statistics in 2019 if they havent done so already. HR is an important use case for VR in the enterprise, as per 92 percent of professionals: In a recent XR Association report, 92 percent of 250 human resource professionals surveyed viewed immersive technologies as a vital tool in the post-pandemic recovery phase. In 2019, the sales of the PlayStation VR headset hit 5 million units, making it one of the most popular choices for VR gaming, although Sony has yet to update its virtual reality sales statistics. But more importantly, nearly half of them are hiring people with the skills needed to capitalize on the metaverse and its opportunities. This mirrors a global trend of new technologies posing an increasing security risk in the eyes of consumers and corporations. A survey revealed that almost 20% of consumers had tried virtual reality by 2020. This is due to the American adoption of innovative technologies. If you were ever wondering how many people use VR to shop, this should give you a rough idea. According to IDCs augmented and virtual reality industry report, the US is closely followed by China at $6 billion. Nearly one-quarter of homes in the United States have been exposed to virtual reality via headsets. partnership 54% of investors interviewed by Perkins Coie estimated that gaming will draw the highest VR investments in the next 12 months. What Is the Metaverse, and How Does It Work? It concluded that 29% of U.S.-based VR users are male versus 20% are female. "Augmented reality (AR), virtual reality (VR), and mixed reality (MR) market size worldwide in 2021 and 2028 (in billion U.S. There are exciting things to come. How and where the offers appear on the site can vary according to the Most people see VRs greatest potential in gaming, while 52% of responses cited TV and movies, 42% for watching sports, while 38% of responses said its best employed for social media. Virtual Reality Market Statistics. That includes devices and VR content like games, apps, and subscriptions. 65% of consumers want to explore new places virtually, 35. Among those interviewed for a Perkins Coie survey, 27% said that technical glitches, bugs, and bulky headsets are the primary deterrents to a higher VR adoption rate. The increased popularity of commercial and consumer VR is great for pretty much everyone. Then - poof! While Oculus Rift is still dominating Kickstarters virtual reality stats, in the accessory department, its evident that people want to feel movement in VR. best of the best. Currently, you are using a shared account. In 2018, China opened one of the worlds first VR-centric theme parks. Teaching surgeons, studying diseases, even helping with mental health are just some of the possibilities. If we look at how many VR headsets they sold so far in 2019, Sony remains the undisputed king of virtual reality devices with its Playstation VR gaming console. The market size of virtual reality is projected to increase from 6.2 billion dollars As the prices of VR systems drop and more people become interested in this new technology, so its sales numbers go up. Transforming the retail shopping experience with virtual dressing roomsMaking school and corporate training more compelling, fun, and effectiveImproving healthcare outcomes with better diagnostic toolsCreating immersive experiences for sports fans or concert-goersBuilding virtual or augmented tours of real estate properties or hotelsMore items Most people use VR to play video games or watch movies. We find good deals, amazing gadgetry, and report mentioned the word 73 times in Q2, 2021, up from less than 10 times in Q4 the previous year. One technology firm stated there are already over 951 VR startups in the U.S. Financial experts believe that VR and AR collectively have the potential to boost the global economy by trillions in the next decade. Facebook shipped 2 million Oculus Quest 2 units in Q1 2021 alone.acebook shipped 2 million Oculus Quest 2 units in Q1 2021 alone. This is no surprise considering 59% of company executives worldwide believe that gaming will dominate any investment made toward VR technology. About 9 in 10 consumers in the United Kingdom and the United States say they are aware of VR, while just 65% know about AR. Digital marketing and e-commerce have already changed the way many companies do business. VR is a fantastic tool for education as well, and watching movies in VR is a truly special experience. Nearly half - 48% - of respondents to a recent survey said that their primary monetization method in 2019 will be subscriptions and virtual reality sales. More people know about virtual reality than augmented reality. In practice, only 22% of children who have access to VR gear use their headsets for education, compared to 76% who use it for gaming. Another notable VR market share is the gesture-tracking device (GTD) segment. Industry association publications and dedicated websites are the primary source of information for 69% of respondents, but social media is rapidly closing in at 64%. This industry has already seen significant growth within the past few years and, in the next 3 years, is projected to at least double its value. Even so, millions of Americans have already tried virtual reality, either in the comfort of their homes, at parties, or VR arcades. This is followed by 26% allocated to creating advertising content, 25% to live streaming, 24% to film and entertainment, 22% to news and 20% to music. Forecasts from IDC Research predicted that investment into VR and AR would multiply 21-fold over the past four years. In 2020, the gaming industry earned $1.1 billion. Lets take a look at some VR statistics and find out. 2023 COPYRIGHT DATAPROT ALL RIGHTS RESERVED. USA Virtual Reality Rendering Processing Market Statistics 2023-2030: Driving and Challenging Factors, Revenue, Growth Drivers. At this point, AR is more attractive to companies from the financial side of things, as its easier and cheaper to develop AR than VR apps. Facebook groups related to AR/VR have increased by 27 percent to 649 percent: Meta has launched a new quarterly series called Hello Future from Facebook IQ, which shows the number of Facebook groups related to AR/VR has increased exponentially year on year, with South Korea (649 percent) heading the list. Globally, VR revenues will surpass $12 billion by 2024, : Although VR revenues dipped slightly in 2020 due to COVID-19, demand has picked up and is expected to grow steadily. Looking at the projections for the markets growth, in 2024, this tech sector should rake in over $12 billion in revenue (consumer and enterprise combined). The U.S. is expected to see a 484.2 billion boost to its economy by 2030 increasing GDP by 2.83%. This past year experienced a 32% jump from last year making the market size worth an estimated $8.1 billion. What is the difference between augmented reality and virtual reality? Head-mounted display devices account for 60% of the global VR revenue share, 25. It has come down from sci-fi movies and tech expos to everyday life. Paired with that, managing traffic is another often overlooked field of potential use. Three Expert Insider Secrets for a Successful Demo Reel. This is nearly ten times the $30.7 billion market size registered as recently as 2021. This could allow healthcare to become among the top sectors gaining from VR in 2022. This number is much lower than in 2018 (41%), suggesting that VR is getting more user-friendly. Three-quarters (75%) of Forbes Most Valuable Brands (like Apple, Google, or Microsoft) have created virtual or augmented reality experiences for their customers or employees. 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). By 2026, this trend expects over 31 million to be shipped. Definitely. The following virtual reality statistics for 2022 will expound on the trend. With a recent announcement of PSVR 2, the number of PlayStation gamers that own a VR setup is sure to increase. Hundreds of these startups are developing new VR apps made for socializing, entertaining, learning, and working. last year that 3.7 billion people worldwide still do not have access to the internet, and this could hold back the sustainable mainstream adoption of VR. Yes, but it has some more growing up to do. By current data, the VR software market is en route to reach $5 billion by the end of 2021. What is your opinion on virtual reality? KommandoTech earns commission via affiliate programs, meaning we may earn a fee when you click on our link The COVID-19 pandemic didnt help improve the VR sales numbers, but with the release of Oculus Quest 2 and some killer apps along the way, the VR market has once again found its footing. This percentage rests at about 18%. Facebook groups related to AR/VR have increased by 27 percent to 649 percent: Meta has launched a new quarterly series called. 46% of companies are hiring people with skills related to the metaverse, 44. This supports the companys VR market forecast, which predicts that those sectors will experience the largest growth. Request Sample When you buy through links on our Of these, 31.3 million are doing so via virtual reality headsets. According to a survey conducted by Yulio Technologies, nearly half of those over the age of 18 said that they would give VR a shot if they could. 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