A smaller set of glasses is also expected to be up for sale the following year. Before we jump into the statistics, lets very quickly cover what virtual reality is. So how well prepared are you for the future when VR becomes a fixture of daily life? This is an impressive improvement, considering that only 14 million VR devices were sold in 2019. As contact is cut off from the rest of the world, many companies and employees started to adopt AR and VR technology to remote work and attend events. This would mean that there would be a total of 16.44 million VR headsets in use around the world. Nearly one in five (19 percent) US consumers will use VR in 2020 (AR Insider, 2020). 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. 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. Thanks to a number of factorsmore affordable hardware, faster internet speeds, and a receptive audiencethe growth figures have been striking over the last 4-5 years. Its true that, for a long time, consumers have been hesitant about embracing VR technology. The VR market is estimated to reach $20.9 billion by 2025. Retail is seen to deliver the biggest commercial investment in AR/VR technology in 2024 at $7.3 billion (IDC, 2020). In 2020, there were 5.5 million units of VR and AR headsets shipped. By 2025, experts estimate that 43.87 million devices will be shipped worldwide. Thats it for the most important virtual reality statistics of 2022. Gaming remains the leading industry for VR and AR usage. 55% of VR users found the experience to be extremely or moderately satisfying (AR Insider, 2020). Only 1% would feel negative about it while the remaining consumers are neutral. The expansion of VR devices in India and China has been driving the virtual reality market Furthermore, Pokemon Gos lifetime revenue is $4.2 billion (ARtillery Intelligence, 2020). Besides, the company projected that the 5-year ROI of a single VR-based course could reach 300%. This then begs the question: What are some of the key drivers behind such impressive growth? Statista. [Free and Paid]. The estimation of the combined global VR and AR market by IDC for 2020 was $12 billion. are in no way influenced by the companies mentioned. 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. This is followed by the entire Western Europe bloc with $3.3 billion and Japan with $1.8 billion. A report by Greenlight Insights predicted global AR and VR revenues totaling $209 billion in 2021. From 2021 to 2028, the compound annual growth rate of the virtual reality market is 18 percent (Grand View Research, 2021). A quick look at the best VR headsets in 2020 by different review sites shows that these brands dominate the list with their products.

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). Between 2021 and 2028, the compound annual growth rate of the market is expected to come in at. Research has shown that training that incorporates VR reduces the chances of work-related injuries by 43%. How To Unblock ChatGPT In Italy: The Essential Guide, The consumer VR market worldwide is set to reach. The global VR and AR market is projected to reach $1.5 trillion by 2030. 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. 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. Number of Jobs Enhanced by Augmented Reality (AR) and Virtual Reality (VR) in the United States From 2019 to 2030. Accessed on February 1, 2022. A VR world for us all is not happening yet. There are barriers to virtual reality entry. 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. Let us know in the comments below! Virtual Reality: Future Predictions on Economy and Employment, 7. It places users in a simulation and allows them to immerse themselves in a different world. Almost two-thirds of users in the virtual reality survey believed that gaming is the area that will benefit the most from VR technology. and lower prices. Forecast for the Number of Active Virtual Reality Users Worldwide From 2014 to 2018. The percentages are as follows: 15.6% of Global spending by the manufacturing and resources sector on AR/VR technology in 2020 amounted to $1.66 billion (IDC, 2020). Actually, after years of intense hype and empty promises, things have taken a turn for the better. 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. Other major sectors seeing investment are education, health care, and real estate. Although the COVID-19 2. In the healthcare sector, 68% of professionals believe that AR/VR training simulations will be the primary focus of new solutions and applications through 2022 (Perkins Coie, 2020). The second biggest entry barrier turns out to be the lack of sufficient content that can justify the investment in VR. However, he also provides in-depth reviews on a wide range of software solutions to help businesses find suitable options for them. His research has been featured on the New York Times, Thrillist, VOX, The Atlantic, and a host of local news. 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%. This value is expected to grow to $1.6 billion by 2022 and eventually reach $2.4 billion by 2024. The consumer VR market worldwide is predicted to reach $3.7 billion at the end of 2021.. of these devices are expected to be shipped in 2022, a 54.2 percent increase from 2021s 9.69 million (IDC, 2021). The market size of virtual reality is projected to increase from 6.2 billion dollars in 2019 to 16 billion by 2022. Hardware issues, lack of content, and low growth beyond gaming are some of the problems making people think of VR as an overhyped fad. Which VR is the best? Virtual Reality Growth in the Gaming Market, 10. Virtual Reality Statistics by Companies As of 2019, Sony holds the largest percentage of the VR market at 36.7%. That forced many stakeholders to revise their predictions. Until then, leveraging the massive opportunities of this technology will remain elusive. "According to some studies, the number of VR users worldwide grew Since 2015, the number of VR users has been rising. This will all change this decade, with as many as. There are 171 million active VR users in the world. Applying AR and VR in service and product development potentially influences a GDP boost of $360 billion by 2030 (PwC, 2019). In terms of gender, 30% of men surveyed had used a VR headset at least once compared to only 16% among women. Augmented Reality (AR) and Virtual Reality (VR) Market Size, 3. Another recent virtual reality demographics study by GlobalWebIndex claims VR technology awareness to be as high as 90% among consumers in the UK and US. 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. On the other hand, many underestimated the emerging technology, and its no surprise, then, that VR growth stalled. VR Visualization in Gaming 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). However, you can expect big names to enter the playing field very soon. Saudi Arabia Has the Highest Video Penetration Rates This number is expected to continue to grow and reach just under 70 million by 2023. What Is Sterling Background Check and How Does It Work? 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. Web3 Decades innovating and delivering at the Intersection of Digital Media, Gaming & Comms 1w Edited This is great news for marketers. (LightReading, 2017), Lastly, Homegrown, a fast-casual restaurant chain based in Philadelphia, reported that within 30 days of using VR employee onboarding the number of certified members on training and culture rose from 50% to 77%. jobs set to be using AR and VR in one way or another for training, meetings, and customer service purposes by 2030 (PwC, 2019). The most well-known brand in VR, however, is Samsung, thanks to its Gear VR headset. Keep it clean. 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. Accessed on February 1, 2022. 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. The remaining 53% say theyd never heard of VR before the survey or that they know of VR, but not much more than that. 6. The VR gaming industry has also recorded an accelerated growth rate, and the penetration has been encouraging. Forecast for the Number of Active Virtual Reality Users Worldwide From 2014 to 2018. Accessed on February 1, 2022. Virtual reality usage by industry Some industries use VR and AR more than others and most likely, well see these percentages grow. Number of Jobs Enhanced by Augmented Reality (AR) and Virtual Reality (VR) in the United States From 2019 to 2030.

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