Worldwide spending on AR and VR technology is expected to reach $72.8 billion in 2024. This is based on expectations that the global market value will increase from $7.7 billion in 2020 to $26.9 billion in 2027. The VR market size is expected to have a CAGR of 19% from 2021 to 2027. In 2016, the market was worth about $2.02 billion. This statistic is for 2020, and the market is expected to reach $26.9 billion in value by 2027. The global VR market is worth $7.72 billion. 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. In comparison, 18% say they’ve followed it for years and know it well or would almost call themselves experts. The remaining 53% say they’d never heard of VR before the survey or that they know of VR, but not much more than that. This is a sharp increase from the $0.8 billion in revenue the global industry earned in 2019.Ĥ7% of Americans are at least somewhat familiar with VR, up from 41% who said the same just three months earlier. VR gaming revenue is expected to reach $2.4 billion in 2024. Virtual Reality Statistics by Trends and Projections In comparison, PlayStation’s VR headset sold 125,000 units at the end of 2020. The Oculus Quest 2 was the top-selling VR headset at the end of 2020, with over one million units sold. has increased from 37.6 million in 2017 to 83.7 million in 2020, and it is projected to hit 110.1 million in 2023. In addition, the number of AR users in the U.S. This number is projected to reach 65.9 million by 2023. has increased from 22.5 million in 2017 to 50.2 million in 2020. This would mean that there would be a total of 16.44 million VR headsets in use around the world. It was estimated that 6.1 million VR headsets would be sold in 2021. This is a dramatic increase from the 80,000 American jobs that used or were enhanced by VR or AR technology in 2019. jobs that use AR or VR is projected to reach 2.32 million in 2030. The sectors where AR and VR technology has been this beneficial include: This results in millions to hundreds of millions of dollars that these companies are saving or earning. Other companies with high shares of the VR market include HTC and Microsoft.ħ5% of industrial companies that have implemented large-scale VR and AR technologies saw a 10% increase in operations. Oculus, owned by Meta, is catching up quickly, as the percentage of shipments it holds increased from 19.4% in 2018 to 28.3% in 2019. This is down from the 43% it held in 2018. The top barrier to VR adoption is that it’s too expensive, with 55% of survey respondents listing this as their hesitation.ĥ7% of VR or AR device owners are male, while 43% are female.Ħ9% of those who intend to purchase an AR or VR device are male, while only 31% of those intending to make such a purchase are female.Īs of 2019, Sony holds the largest percentage of the VR market at 36.7%. There are an estimated 171 million VR users worldwide.Īs of 2022, the VR gaming industry has a market size of $12.13 billion.Ģ5- to 34-year-olds account for 23% of VR/AR device users. The VR industry market size is $7.72 billion.Ĥ7% of Americans say they are familiar with VR.įor further analysis, we broke down the data in the following ways:Ĭompanies | Devices | Trends and ProjectionsĪs of 2023, there are 65.9 million VR users and 110.1 million AR users in the U.S. There are over 171 million VR users worldwide. There are 110.1 million AR users in the U.S. There are 65.9 million VR users in the U.S., which is 15% of the country’s population. The global VR market is projected to reach $26.9 billion by 2027. 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.
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