virtual reality statistics

Actually, after years of intense hype and empty promises, things have taken a turn for the better.

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). Yes, VR is growing in popularity. 19% of adults in the US have tried virtual reality (AR Insider, 2020). The revolutionary technology tantalized, everyone fell in love, but the much-hyped transformative effect never quite arrived.

WebThe global virtual reality in education market size stood at USD 656.6 million in 2018 is projected to reach USD 13,098.2 million by 2026, exhibiting a CAGR of 42.9% during the

In terms of VR spending by sector, consumer spending leads the way at 53%, followed by distribution and services (15.8%), manufacturing and resources (13.8%), public sector (12.7%), and infrastructure (3.2%) (IDC, 2020).

The clickthrough rate went up by 53%.

Budget and mid-range users are more likely to find issues with the user interface or the viability of VR.

The projections for the next few years are even more awe-inspiring. As mentioned earlier, when VR technology first came, some overhyped it. 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 Virtual Reality (VR) and Augmented Reality (AR) Users in the United States From 2017 to 2023. Statista.

Research has shown that training that incorporates VR reduces the chances of work-related injuries by 43%. 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. Statistics About Virtual Reality in Higher Education. 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. However, all opinions expressed on our site are solely ours, and this content is in no way provided or This then begs the question: What are some of the key drivers behind such impressive growth? The largest growth is expected in marketing and advertising, retail, manufacturing, and automotive. This immersive technology continues to make impressive progress, exhibiting its massive potential to upend multiple industries.

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. Forecast for the Number of Active Virtual Reality Users Worldwide From 2014 to 2018. Accessed on February 1, 2022.

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.

On the contrary, these partnerships often allow us to give you discounts Estimated VR Device Shipment Share by Vendor Worldwide in 2018 and 2019. The growing market size only goes to show just how popular the technology is expected to become over the next few years.

AR is even more commonplace in the U.S. and has 83.7 million users. The 360-degree videos hosted on Facebook have generated over 580 million views. The enterprise sector is expected to generate more than 70% of AR/VR revenue through the end of 2022 (Superdata, 2020). 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. When you purchase through links on Let's see some of the possibilities. Start a business and design the life you want all in one place. The same source stated that the largest VR spending was in the consumer sector, amounting to 53%. As of 2022, the VR gaming industry has a market size of $12.13 billion. Stay on topic. 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). VR adoption stats for 2022 show that 27% of VR industry experts claim that user experience (e.g. But the industry is growing and there are surely amazing things ahead.

The biggest concerns for investors in VR startups include the lack of an established market for technology (46%), untested technology (38%), slow business adoption (38%), slow consumer adoption (32%), and lack of trusted teams and technologies to invest in (13%) (Perkins Coie, 2020). According to VR statistics, spending on location-based VR is expected to account for an additional $700 million.

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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.

Also, VR can sometimes form a part of our real memory, due to excessive play. Sectors that have seen widespread adoption of and increased demand for VR include gaming and entertainment (Grand View Research, 2019). #jobsNearToYou{display:none;}.noImage-major-hero{display:none;}.major-hero-header-wrapper.w-100{display:none;}@media only screen and (min-width: 800px){.intro-research{}}#jopbTypeEntryContainer{display:none;}p{font-size:16px!important;}. The number of virtual reality users has been growing at an extraordinary pace in the last six years. Hardware issues, lack of content, and low growth beyond gaming are some of the problems making people think of VR as an overhyped fad. Research Summary. What Is Sterling Background Check and How Does It Work? The most well-known brand in VR, however, is Samsung, thanks to its Gear VR headset. Statista. The list also mentions 978 investors, meaning that many of these startups have also managed to find significant funding to develop their projects.

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. Our reviews

More and more US residents are also expected to start using VR more frequently. Asian giant China is at the top of this list, with an expenditure forecast of. Virtual reality market projections show that worldwide spending on AR/VR is likely to reach $72.8 billion by 2024. Today, the speed of growth has not changed, but the expanding VR use cases point to a rapid paradigm shift. The number of VR users worldwide is expected to reach 111 million by 2025.

As an Amazon Associate we earn commissions from qualified purchases. 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.

70% of professionals believe that organizations will focus on adopting VR/AR in training and development in 2021 Perkins Coie, 2020). Feature papers represent the most advanced research with significant potential for high impact in the field. In 2020, Chinas AR and VR purchases accounted for more than half of the $12 billion spent on this technology worldwide that year. Here are some intriguing VR manufacturing statistics: Currently, VR is no longer limited to gaming. The expansion of VR devices in India and China has been driving the virtual reality market

Together, the US and China will be responsible for 58 percent of the global investment into VR. Closely followed by the United States and Western Europe. 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). 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. VR revenues accounted for about 36% of this sum. 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). So much is already here and so much is coming. Mainly, in-store retailers are determined to use VR technology to repress the home-try-on effect, which has been a vexing problem.

The technology may soon become a permanent fixture in big data analytics.

Statista. 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). In 2020, a brand called We Make Up created an AR filter on Facebook, which had a surprisingly positive effect on the brand. Here are the key AR and VR statistics: The global VR market is projected to reach $26.9 billion by 2027. WebThe global virtual reality market size in 2021 is estimated at $21.83 billion. On the other hand, many underestimated the emerging technology, and its no surprise, then, that VR growth stalled. 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. The augmented reality market is estimated to exceed $50 billion by 2024. WebVirtual Reality Games Can Be Used as a Tool in Personnel Assessment Mar. VR training has a retention rate of 75%, beating out lectures (5%), reading (10%), and audio-visual learning (20%) (FrontCore, 2020).

The upward trend will likely continue, as projections for 2024 put potential revenue at $12.9 billion. 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?

A quick look at the best VR headsets in 2020 by different review sites shows that these brands dominate the list with their products.

Investments in AR and VR were estimated (Tech Trends). Police officers with VR training are 2.7 times more likely to have successful missions. This technology has been increasingly used in the context of mental health treatment and within clinical research. VR stats for 2022 show that the adoption of VR in e-commerce can boost online shopping conversion by 17%. From 2021 to 2028, the compound annual growth rate of the virtual reality market is 18 percent (Grand View Research, 2021).

Only 1% would feel negative about it while the remaining consumers are neutral. Number of Virtual Reality (VR) and Augmented Reality (AR) Users in the United States From 2017 to 2023. Accessed on February 1, 2022. 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%. Virtual Reality (VR) and Augmented Reality (AR) Device Ownership and Purchase Intent Among Consumers in the United States as of 1st Quarter 2017, by Gender. Accessed on February 1, 2022. qualified purchases, but this doesnt reflect on our reviews quality or product listings. Source: National Research Group

This would mean that there would be a total of 16.44 million VR headsets in use around the world. However, as statistics have shown, the barriers are breakable, and someday, the envisioned future of VR will be at your doorstep.

The VR industry market size is $7.72 billion.

The latest virtual reality statistics show that. (L.E.K.

52.1 million people in the US will use virtual reality technology at least once per month in 2020 (eMarketer, 2020).

Keep on visiting us. But what is virtual reality, what benefits does it offer, and what sectors are driving its growth? As it stands, there is evidence of the use of VR for furniture and room design shopping. And theyre not stopping at one. Globe Newswire. In addition, worldwide spending on AR and VR technology is expected to grow from $12 billion in 2020 to $73 billion in 2024. 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.

47% of Americans say they are familiar with VR. If youre looking for answers to these questions and more, youve come to the right place. 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. Increasing Demand For AR and VR Devices, 4.

As it is, the forecast for 2022 is already a whopping 91.2 percent year-over-year increase. 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).