The graph shows the virtual reality (VR) market revenue in the United States from 2014 to 2025. VR learners were 4x faster to train than in-classroom learners, 37. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Interestingly, 75 percent said they maintain less physical distance between themselves and those they meet in VR than in real-world surroundings. The VR market snapshot from 2020 to 2027 depicts that the fastest-growing market for VR is the Asia Pacific. DataProt remains financially sustainable by participating in a series of affiliate Virtual Reality (VR) Collaboration Platforms Market Statistics The global virtual reality market size, valued at USD 10.32 billion in 2019, is expected to grow at a CAGR of 21.6% from 2020 to 2027. This supports the companys VR market forecast, which predicts that those sectors will experience the largest growth. partnerships - it is visitors clicks on links that cover the expenses of running this site. Please create an employee account to be able to mark statistics as favorites. Continuing with the VR headset sales statistics, analysts estimate there are more than 5 million Oculus Quest 2 headsets in the wild. Request Sample When it comes to monetizing VR content, VR stats show that 61% of companies go the standard route of directly selling a product or a subscription. Is it the next frontier of immersive tech, or just a gimmick? Over 23 million jobs will depend on VR by 2030, 34. DataProt is an independent review site dedicated to providing accurate information about various If youre curious to learn what virtual reality is, what benefits virtual reality provides, who is using it, and what industries are advancing with it, youre in the right place. The game also gave a significant boost to Valve Index sales. Analysts predict the value of this market will reach $50.3 billion by 2028. VR allows you to live a story rather than being a passive observer, leaning into the wants of this younger demographic. However, a study shows that many consumers share their VR devices. Approximately one in three gamers own or use a piece of VR hardware. In addition to several high-profile VR releases, the technology also started gaining traction in business and enterprise applications. [2] The market size of virtual reality HMDs was $5.5 billion in 2019 with a CAGR of 22.3%, projected to reach $18.6 billion by 2026. ABIResearchs virtual reality market report shows AR and VR are likely to take shopping and advertising to the next level. KommandoTech is your ultimate resource on all things tech. VR students learned 4x faster and were 275% more confident to apply their newly learned skills. A survey revealed that almost 20% of consumers had tried virtual reality by 2020. Cause-based VR films inspire twice as many donations as normal films, 38. 50% of respondents called the metaverse, an online virtual reality space, exciting. When it comes to both augmented and virtual reality headsets, mobile devices are in the lead. Developers currently working on virtual reality projects are already testing their products in the field for things like in-flight entertainment, virtual shopping, healthcare programs, and more. After earning $1.1 billion in 2020, this niche gaming industry is projected to double by 2024 by earning over $2.4 billion. As soon as this statistic is updated, you will immediately be notified via e-mail. How much are consumers spending on VR in 2023? Considering Quests are typically sold for $299 to $399, that turns into 2 million units in a single quarter alone. Standalone VR headsets occupy 89.8 percent of global AR/VR headset shipments: In 2021, global shipments of AR/VR headsets grew by 348.4 percent as per an International Data Corporation (IDC). Most people use VR to play video games or watch movies. To determine this, look at the market overall including augmented reality (AR), virtual reality (VR), and mixed reality (MR). Are you interested in testing our corporate solutions? These Are the Best PC Gaming Speakers Money Can Buy! Researchers say 44.5% of consumers are expected to watch entertainment videos or use VR for travel and virtual tours, 29.9% are expected to use virtual reality for educational purposes, and 20.8% for shopping. Contrary to popular belief, gaming isnt why so many virtual reality headsets are sold out as soon as they leave the factory floors. The statistic shows the number of virtual reality (VR) and The VR market size is predicted to nearly double from 2022 to 2025. 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. For example, only 7% of the surveys participants said they plan on reducing their VR usage. from The Information, nearly 10,000 employees work in the companys Reality Labs division, which is nearly a fifth of the companys entire workforce. The companys. January 17, 2023. With more than 40% of the VR market share in 2018, gaming and entertainment are the dominant force in the virtual reality market. Virtual reality is even benefitting global causes. This statistic is not included in your account. A recent experiment conducted by Walmart had employees train via VR. From market size and headset units sold, to commercial use and gaming, heres what we found out about this exciting technology: According to market reports gathered after the end of the fiscal year 2020, the VR market is on the road to becoming one of the most lucrative tech branches. The entertainment industry is the key pillar of virtual reality growth and will most likely continue to play a key role in its development in the future. sturdy software. The following were our top virtual reality statistics and survey insights set to As of 2021, there are 57.4 million VR users Virtual reality is currently among the most exciting disruptive technology options today. 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. It concluded that 29% of U.S.-based VR users are male versus 20% are female. Social networks present an ideal platform for advertising as well, and many companies already use AR and VR in both their brick-and-mortar and online stores. That could be due to the fact that 30% of Americans online aged over 18 express a desire to try VR technology. As it is, the forecast for 2022 is already a whopping 91.2 percent year-over-year increase. VR is expected to generate $6.7 billion in revenues. In the United States, a reported 37% of VR users bring in over $100,000. Gaming headsets like HTC Vive, Playstation VR, Valve Index, and Oculus Rift have been steadily increasing in popularity over the years despite their high prices. Aside from the $29.99 base game, developer Beat Games also sells additional songs for $1.99 a pop, but they werent used to calculate this VR statistic. Considering VR adoption rate spiked thanks to it, you might have expected that Half-Life: Alyx is Steams bestseller in the VR category. This is a key factor in the VR adoption rate - if the technology is to become truly profitable, more people need access to it. 37% of VR users have a household income of over $100,000, 30. 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. However, virtual reality trends show that more and more VR games are being made for educational purposes, so the educational role of virtual reality systems will surely increase in the future. If youre wondering how much is a VR headset typically, Oculus Rift starts at $399 and HTC Vive at $499. 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%. At the same time, most of the money will be received from the sale of virtual reality headsets, games and videos. VR trends, when it comes to monetization, are moving toward in-app purchases within freemium apps (41%) and in-app advertising (39%). You only have access to basic statistics. Dollars). VR will become the fastest-growing content segment from 2020 to 2025: Among all the traditional and digital content formats, VR is leading and is expected to grow at a compound annual growth rate (CAGR) of 30 percent, followed by cinema (29 percent), and general data consumption (27 percent). no control over the personal opinions expressed by team members, whose job is to stay faithful to the truth 101.6 million people in the U.S. Americans use augmented reality, 3. 9% more men have tried virtual reality than women, 29. Nearly 1 in 3 consumers own an AR/VR device, and 15 percent will buy such a device in 2022: As per a 2022 GroupM Annual Survey on Consumer Attitudes Towards Technology, 32 percent of respondents said they own an AR or VR device, and another 15 percent added they were looking to buy a device in this category in the next 12 months. By 2024, global consumers are predicted to spend over $60 billion more than that. 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. Augmented reality games like PokemonGo are major contributors to the popularity of mobile gaming, and AR headsets tend to be much cheaper and more widely available than their VR counterparts. 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