Christo knows very well how tech has revolutionized the way we live, communicate, and create value. VR revenues accounted for about 36% of this sum. VR adoption stats for 2022 show that 27% of VR industry experts claim that user experience (e.g. Globe Newswire. Source: National Research Group Nearly one in five (19 percent) of US consumers have used VR in 2020a three percentage point increase from 16 percent in 2019 (AR Insider, 2020). This is followed by the entire Western Europe bloc with $3.3 billion and Japan with $1.8 billion. They say these digital enhancements or alternatives will have growing impact on everything online and in the physical world. Job Title.

The VR market size is expected to have a CAGR of 19% from 2021 to 2027. The latest virtual reality statistics show that. The revolutionary technology tantalized, everyone fell in love, but the much-hyped transformative effect never quite arrived. This will represent an impressive increase of more than seven-fold from 2020 to 2025. That forced many stakeholders to revise their predictions. VR can be used by many companies. And theyre not stopping at one. Familiarity With VR Increases but Cost Remains a Hurdle. Accessed on February 1, 2022. 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. document.getElementById("comment").setAttribute( "id", "a657226c8707c27723c17b81a06528b2" );document.getElementById("g870abf955").setAttribute( "id", "comment" ); FinancesOnline is available for free for all business professionals interested in an efficient way to find top-notch SaaS solutions. 52.1 million people in the US will use virtual reality technology at least once per month in 2020 (eMarketer, 2020). Between 2021 and 2028, the compound annual growth rate of the market is expected to come in at. 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. Virtual reality has taken off from the novelty phase, and its starting to show strong signs of going mainstream. Thats it for the most important virtual reality statistics of 2022. 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? So much is already here and so much is coming. 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. The US market is no exception to this virtual reality growth sweeping across the globe. 70% of consumers believe AR can be helpful for learning new skills. This is a significant amount. This is a significant amount. Sony followed with 21.9%, and Pico placed third with 9.2%. In 2020, the world invested $12 billion into VR/AR gaming. 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.

But what is virtual reality, what benefits does it offer, and what sectors are driving its growth? 47% of Americans say they are familiar with VR. The estimation of the combined global VR and AR market by IDC for 2020 was $12 billion. Yes, VR is growing in popularity. Some of the places where the use of VR is gathering steam include workplace layout and design, equipment design, and product development. From 2021 to 2028, the compound annual growth rate of the virtual reality market is 18 percent (Grand View Research, 2021). With more than 171 million 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). According to the latest virtual reality statistics, by 2027, its market size is forecast to reach $92.31 billion, which marks a compound annual growth rate of 30.2 percent in the seven-year period between 2020 and 2027 (Grand View Research, 2020). 57% of VR or AR device owners are male, while 43% are female. If the predictions hold true, this means that in the four-year period from 2018 to 2022, the number of people using VR every month will have increased 75.7 percent. Web3 Decades innovating and delivering at the Intersection of Digital Media, Gaming & Comms 1w Edited

This is an impressive improvement, considering that only 14 million VR devices were sold in 2019.

Virtual reality market projections show that worldwide spending on AR/VR is likely to reach $72.8 billion by 2024.

These include the use of VR holograms in theme park rides at the London Thorpe Park as well as the launch of Mario Kart VR by a video game development company. Right now, there are fewer than half a million jobs worldwide that are impacted by VR and/or AR. 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). Comparatively, there are 16.8% of the Hispanic or Latino ethnicity and 10.7% of the Asian ethnicity. While more conventional and non-tech-intensive methods like F&B offerings, personalized experiences, and live product demonstrations remain the main draws for customers in physical stores, virtual reality trends show that VR experiences are catching up as a technology investment that business owners can make to encourage customers to spend more. This global market value is up significantly from 2016, when it was worth just over $2 billion, and its expected to keep growing. 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%). in 2024 (Statista, 2021).

That said, since its inception, the technology has created a digital imprint that has had a lasting impression on the consumer. This is about 15% of the U.S. population.

This virtual reality report on marketing shows that the environment is ripe for marketers to move fast to capture audience interest. However, as statistics have shown, the barriers are breakable, and someday, the envisioned future of VR will be at your doorstep. 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). This is based on expectations that the global market value will increase from $7.7 billion in 2020 to $26.9 billion in 2027.

Retail is seen to deliver the biggest commercial investment in AR/VR technology in 2024 at $7.3 billion (IDC, 2020). Some of them have several issues, including that they are heavy and tie up the phone for the duration of use. The clickthrough rate went up by 53%. There are 65.9 million VR users in the U.S., which is 15% of the countrys population. There you have it a compilation of the most intriguing virtual reality statistics. Police officers with VR training are 2.7 times more likely to have successful missions. Because of the nature of such jobs and the high costs of mistakes, the simulation permitted by virtual reality makes it a practical solution as it allows them to practice in a safe environment. What Is Sterling Background Check and How Does It Work? The number of VR users worldwide is expected to reach 111 million by 2025. The largest growth is expected in marketing and advertising, retail, manufacturing, and automotive. The following virtual reality statistics for 2022 will expound on the trend.

Statista. The 360-degree videos hosted on Facebook have generated over 580 million views. The growing market size only goes to show just how popular the technology is expected to become over the next few years.

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. 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. Altering reality. There are over 171 million VR users worldwide. The online retail space has been crippled by the inability to try on new technologies like VR. This could also be a reflection of how the industry has developed so far, with the technologys potential in other areas not really becoming as widely known. 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. No votes so far!

Statista. In fact, its spending projection makes up 30.8 percent of the total amount ($18.8 billion) thats expected to be spent on VR globally. In addition, worldwide spending on AR and VR technology is expected to grow from $12 billion in 2020 to $73 billion in 2024. According to the same research, VR also has high word-of-mouth marketability, with 81% of people who had already experienced VR reporting they had told their friends about it. Start a business and design the life you want all in one place. VR stats for 2022 show that the VR gaming revenue sits at $1.1 billion. One example of this includes UK company ASOS adopting the technology in an effort to boost fashion sales amid the coronavirus pandemic. Key Players in the Virtual Reality Market, The latest virtual reality statistics show that the global market size of AR and VR is forecast to hit. Analysts credit the AR and VR boom to the coronavirus pandemic, which sent the world into lockdown and forced offices to close and employees to work from home. This number is projected to reach 65.9 million by 2023. Though VR investments are expected from a multitude of countries worldwide, there are a select few that will be leading the pack. Statista. With its widespread adoption in training, education, and healthcare, the VR market Vorobyev Vladimir on LinkedIn: Virtual Reality Statistics To Know In 2023 - XR Today Virtual Reality (VR) Gaming Revenue Worldwide From 2017 to 2024. Accessed on February 1, 2022. This compares poorly with other technologies like smartphones, tablets, and laptops. As of January 2020, the number of VR startups worldwide listed on AngelList was 2,270, a significant jump from a little over 1,800 in May 2018. The most well-known brand in VR, however, is Samsung, thanks to its Gear VR headset.

But that seems to be changing, and fast.

More than that, virtual reality market statistics indicate that China accounted for over 38% of the global AR/VR share in 2020. China spends the most on VR. 70% of professionals believe that organizations will focus on adopting VR/AR in training and development in 2021 Perkins Coie, 2020). It is projected to reach $4.1 billion by 2024 (ARtillery Intelligence, 2020). With its widespread adoption in training, education, and healthcare, the VR market 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.
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. Check out these statistics on consumer interest in VR technology. Asian giant China is at the top of this list, with an expenditure forecast of. The reality of VR technology has failed to live up to the hoopla around it for many consumers. Feb. 27, 2023, https://www.zippia.com/advice/virtual-reality-statistics/. 39% of big organizations leverage VR/AR technology to facilitate training in simulated environments (Chaos Theory Games, 2020). By 2030, 23 million jobs will be using AR and VR in one way or another (PwC, 2019). Only 1% would feel negative about it while the remaining consumers are neutral.

As per VR demographic statistics, 35% of VR users are in the age group of 25 to 34 years. 26% of VR users are in the age range of 35 to 44 years. 12% of VR consumers are in the age range of 45 to 54 years. However, only 6% of people who are above 55 years are familiar with VR technology. #19. Estimated VR Device Shipment Share by Vendor Worldwide in 2018 and 2019. Accessed on February 1, 2022. Even though AR and VR devices still arent quite as in-demand as other electronics like smartphones or smartwatches, the growing market size is a clear indication of its potential. Currently, the global VR market as a whole is worth $7.72 billion and is expected to reach $26.9 billion by 2027. 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 Of professionals believe that organizations will focus on adopting VR/AR in training development! 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