Virtual Reality Statistics, Trends 2023

Virtual reality, the overarching term for a variety of computer-generated experiences taking place within a simulated environment, has been a topic of interest among tech enthusiasts (and sci-fi fans) for years. Like these virtual reality statistics you’ll read indicate, the time is approaching for this technology to take off among consumers as well as in the industry.

Thanks to a number of factors—more affordable hardware, faster internet speeds, and a receptive audience—the growth figures have been striking over the last 4-5 years. The projections for the next few years are even more awe-inspiring.

As it happens with any new technology, estimates from different sources do not always match up; even one year of slower or faster performance than predicted can force major revisions in estimates, and the entry of a major player like Apple can completely change the ecosystem. With that in mind, we are sure these latest sets of statistics will help provide a clearer idea of virtual reality market growth, changes in perception among consumers, and its utility in business.

That said, let’s check out the latest VR stats:

The Real Virtual Reality Statistics

1. The global VR market is expected to reach $44.7 billion by 2024, growing at a CAGR of 29.2% from 2019 to 2024.
2. The gaming industry accounts for the largest share of the VR market, followed by healthcare and education.
3. The VR headset market is expected to grow at a CAGR of 27.0% from 2019 to 2024, driven by the increasing demand for VR in gaming and entertainment.
4. The VR content market is expected to grow at a CAGR of 31.5% from 2019 to 2024, driven by the increasing demand for VR in education and training.
5. The VR software market is expected to grow at a CAGR of 33.0% from 2019 to 2024, driven by the increasing demand for VR in gaming, entertainment, and education.

Market Segment	Market Size (2019)	Market Size (2024)	CAGR (2019-2024)
Global VR Market	$9.2 billion	$44.7 billion	29.2%
VR Headset Market	$4.7 billion	$15.8 billion	27.0%
VR Content Market	$2.4 billion	$8.8 billion	31.5%
VR Software Market	$2.1 billion	$9.1 billion	33.0%

So what does the future hold for the VR market? The following virtual reality statistics for 2022 will expound on the trend.

1. The consumer VR market worldwide is predicted to reach $3.7 billion at the end of 2021.

Although the COVID-19 pandemic harmed the VR market worldwide, it is expected to make a good recovery this year.

VR statistics for 2021 indicate that the consumer virtual reality (both hardware and software) market size is projected to experience an increase of $1.1 billion, compared to what we had in 2020.

2. China is projected to have the most substantial AR/VR spending worldwide in 2024.

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

Predictions have been made that China will have the most significant AR/VR spending at 36% by the same year. Closely followed by the United States and Western Europe.

3. VR/AR devices will see a growing increase in demand 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. What’s more, AR and VR headsets are projected to have massive sales of over 30 million units annually by the end of 2023.

4. The engineering industry will derive great benefits from the adoption of VR.

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%. This results in an increase in overall efficiency.

5. VR is gradually gaining ground in e-commerce.

VR stats for 2022 show that the adoption of VR in e-commerce can boost online shopping conversion by 17%. For comparison, the average eCommerce conversion rate is 2%. VR experiences can significantly influence the purchasing decision of customers.

6. In 2021, 17.7% of people will use VR in the US.

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. It accounts for 17.7% and 28.1% of the total US population.

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.

7. User experience is one of the greatest obstacles to VR adoption. 

VR adoption stats for 2022 show that 27% of VR industry experts claim that user experience (e.g. bulky hardware and technical glitches) is an obstacle to the mass adoption of VR. Reports go further to reveal that 20% cite customer and business hesitation as an obstacle to embracing VR. Also, a poor content offering by the VR industry was cited as an obstacle by 19% of respondents.

8. Facebook was the world’s largest vendor of VR headsets in 2020.

In 2020, there were 5.5 million units of VR and AR headsets shipped.

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%.

Sony followed with 21.9%, and Pico placed third with 9.2%.

Virtual Reality Demographics

1. The majority of VR users are males aged 18-34.
2. The VR market is expected to grow in mature markets such as North America, Europe, and Asia-Pacific.
3. The VR market is also expected to grow in emerging markets such as Latin America, Middle East, and Africa.
4. The VR market is expected to appeal to a wide range of consumers, including gamers, tech-savvy individuals, and early adopters.
5. The VR market is expected to appeal to a wide range of organizations, including gaming companies, healthcare providers, and educational institutions.

Demographic	Adoption Rate
Male	High
Age 18-34	High
North America	High
Europe	High
Asia-Pacific	High
Latin America	Moderate
Middle East	Moderate
Africa	Moderate

Virtual Reality Market Statistics

1. The VR market is growing rapidly, driven by the increasing demand for VR in gaming, entertainment, healthcare, and education.
2. The VR headset market is expected to be the largest segment of the VR market, driven by the increasing demand for VR in gaming and entertainment.
3. The VR content market is expected to be the second-largest segment of the VR market, driven by the increasing demand for VR in education and training.
4. The VR software market is expected to be the third-largest segment of the VR market, driven by the increasing demand for VR in gaming, entertainment, and education.
5. The VR market is expected to continue growing in the coming years, driven by the increasing demand for VR in new and emerging markets.

Let’s start with some general facts about the market.

9. The worldwide AR and VR market size is forecast to grow 7.7X between 2018 and 2022.

Augmented reality refers to the addition of digital elements to a live view (e.g., Google Glass, Pokemon Go) while VR implies a complete immersion into a simulated world. In 2018, the size of the worldwide augmented reality and virtual reality market was estimated to be $27 billion. This number looks a bit small, considering there were about 1 billion AR users alone in 2020.

However:

A report by Greenlight Insights predicted global AR and VR revenues totaling $209 billion in 2021. VR revenues accounted for about 36% of this sum.

10. The consumer sector accounted for the largest share (53%) of global VR and AR spending in 2020.

The estimation of the combined global VR and AR market by IDC for 2020 was $12 billion.

The same source stated that the largest VR spending was in the consumer sector, amounting to 53%.

It is followed by the distribution and services sector with 15.8%, and the manufacturing and resources sector at 13.8%.

11. The VR worldwide market share will be worth $20.9 billion by 2025.

So, how much is the VR market worth? Unfortunately, the lackluster performance of the VR industry in 2020 was $6.1B.

That forced many stakeholders to revise their predictions. That said, recent reports predict that the global virtual reality market size will increase by $14.8 billion by 2025.

12. Recent stats show that China was the largest AR/VR spender in 2020 at $5.8B.

The US was the second biggest spender with $5.1 billion, followed by Western Europe at $3.3 billion.

More than that, virtual reality market statistics indicate that China accounted for over 38% of the global AR/VR share in 2020. This value will increase to 56% by the end of 2021.

13. 26 million AR and VR headsets were owned in 2020.

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

14. The sales of smartphone VR devices consistently fell over the years.

A significant reason for the dip in the sales of devices is the decreasing interest among people for smartphone-based VR devices. Some of them have several issues, including that they are heavy and tie up the phone for the duration of use.

However, standalone devices like Oculus Quest are expected to drive future sales. 

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.

15. Demand for standalone VR devices will grow over 16 times between 2018 and 2022.

The latest forecasts show that the sale of standalone devices will grow from nearly zero in 2017 to more than half of the total AR and VR devices market in 2022 (29 million units). Tethered headsets, which require a connection with a computer, smartphone, or gaming console for use, will stay around for a while, selling 18 million units in 2022.

16. Worldwide spending on VR content and apps is forecast to reach $3.77B in 2021.

According to VR statistics, spending on location-based VR is expected to account for an additional $700 million. The total spending on VR content/apps and location-based VR is expected to rise from $2.54 billion in 2019 to $3.77 billion in 2021. Spending on AR content and apps is nearly 2.5 times that on VR content and is expected to grow at a higher pace as well.

17. VR video gaming revenues are expected to reach $2.4B in 2024.

VR stats for 2022 show that the VR gaming revenue sits at $1.1 billion. This value is expected to grow to $1.6 billion by 2022 and eventually reach $2.4 billion by 2024.

18. A cosmetic brand in 2020 recorded outstanding growth in sales after creating an AR filter.

In 2020, a brand called “We Make Up” created an AR filter on Facebook, which had a surprisingly positive effect on the brand.

The clickthrough rate went up by 53%. It also experienced a 28-point increase in sales and a 7.9-point rise in brand awareness.

19. Gaming will also remain the sector with the maximum VR investment, though its share is expected to come down.

According to a worldwide survey of startup founders, tech company executives, investors, and consultants, 59% of respondents believe gaming will dominate the investment directed to the development of AR/VR technology.

This number has come down from 78% in 2017 earlier. Other major sectors seeing investment are education, health care, and real estate. The largest growth is expected in marketing and advertising, retail, manufacturing, and automotive.

20. The number of VR startups has increased by 14% in less than a year.

How many virtual reality companies are there? 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 list also mentions 978 investors, meaning that many of these startups have also managed to find significant funding to develop their projects.

Virtual Reality User Statistics

We now know the size of the market. But how keen are users on VR?

21. The number of AR users in the US will reach 95.1 million by 2022.

The number of virtual reality users has been growing at an extraordinary pace in the last six years. 

VR adoption stats for 2020 showed that there were 57.4 million VR users in the US and 90.9 million AR users.

And it looks like the only way is up, as predictions show that figure will rise by 37.7 million in 2022.

22. 70% of VR headset-owning consumers have bought a game on it.

That gaming is the most popular use that VR is put to by consumers is also reflected in the high number of VR users who buy games. Nearly 70% of consumers who own a dedicated VR headset such as Oculus Rift, HTC Vive, or Sony Playstation VR have bought games for it. More than half of smartphone VR headset owners have also bought games for their gaming phones.

23. 78% of Americans are familiar with VR technology now.

This is a remarkable improvement from just 45% in 2015. 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.

Apart from simpler and cheaper devices like Google Daydream coming into the market, the rise in familiarity is also attributed to the coverage VR has received in the news.

Movies like Ready Player One and partial VR viewability of events like the Super Bowl and the Winter Olympics have also contributed.

24. Only 28% of VR set owners use these devices daily.

39% say they use VR sets once a week, 19% once a month, 8% once every six months, and 6% just about once a year. This compares poorly with other technologies like smartphones, tablets, and laptops.

VR sets have traditionally been complicated, with multiple wires and controllers, or time-consuming to set up, and the variety of content has also not grown as fast as it has with other devices. Simpler devices like Oculus Go are likely to solve some of these issues.

25. Younger and male users are more likely to have used a VR headset.

According to the GlobalWebIndex study of virtual reality user demographics in the UK and US, 35% of users in the 16 to 34 age group have used a VR headset, while the figure is 26% for the 35-44 group, 12% for the 45-54 group, and just 6% for the 55-64 group. In terms of gender, 30% of men surveyed had used a VR headset at least once compared to only 16% among women.

26. 77% of people who use VR want more social engagement in it.

77% of the respondents of a consumer survey who own a VR headset say they are interested in social interactions with other people in VR. This interest is also reflected in virtual reality trends showing the popularity of apps that allow users to interact with other users in a virtual setting. Among social VR activities of interest, playing games, watching videos, and video communication rank the highest.

27. 70% of VR users intend to increase their use in the next year.

With increasing familiarity and more content, there seems to be the possibility of a noticeable increase in VR use in the coming months. 38% of VR users say they intend to increase the use a lot more; 32% say they want to do so by a little more. Only 7% want to decrease the amount they are spending on VR devices.

28. Hardware cost is the biggest entry barrier keeping the VR adoption rate down.

Users of high-end VR devices are slightly more likely (54%) to consider hardware cost as the primary reason preventing more users from adopting VR compared to budget (48%) or mid-range (50%) users. Budget and mid-range users are more likely to find issues with the user interface or the viability of VR.

Issues like motion sickness with prolonged use or lack of viable use-cases are not a major concern for high-end device users. The second biggest entry barrier turns out to be the lack of sufficient content that can justify the investment in VR.

29. 64% of VR users think VR has the greatest potential in gaming.

Almost two-thirds of users in the virtual reality survey believed that gaming is the area that will benefit the most from VR technology. This could also be a reflection of how the industry has developed so far, with the technology’s potential in other areas not really becoming as widely known. Other areas in decreasing order of expectations are film and TV (52%), sports viewing (42%), classroom education (41%), and social media (38%).

30. 53% of AR and VR-aware users believe VR has a higher chance of hitting the mainstream first.

Since both AR and VR technologies are broadly trying to transform the same industries, the public’s perception of their relative potential is an interesting aspect to gauge. Virtual reality statistics also indicate that once users have actually tried out both AR and VR, their perception changes, with 50% saying AR has a greater potential to hit the mainstream compared to 47% in favor of VR.

31. In 2020, 55% of users found the VR experience satisfying.

The reality of VR technology has failed to live up to the hoopla around it for many consumers. Hardware issues, lack of content, and low growth beyond gaming are some of the problems making people think of VR as an overhyped fad. This is a matter of particular concern for the consumer VR industry that has failed to sustain the momentum behind the technology.

32. Samsung is the most widely known brand in VR technology.

Which VR is the best? Given the wide choice available, right from the very cheap Google Cardboard to the high-end HTC Vive and Oculus Rift, it depends on what you want and how much you are willing to spend.

The most well-known brand in VR, however, is Samsung, thanks to its Gear VR headset. This was also the case in 2017 when Samsung Gear VR was the most well-known device among the general population as well as gamers, even though the brand’s awareness seems to have come down in the last two years.

The next most popular brand is Sony with its PlayStation VR.

33. More professionals are considering adopting VR/AR for training purposes in 2021.

The benefits of VR/AR are just about limitless. Research has shown that training that incorporates VR reduces the chances of work-related injuries by 43%.

For this reason and more, virtual reality data stats indicate that 70% of professionals believe that more businesses will use VR when training employees.

Virtual Reality Benefits

1. VR provides an immersive and interactive experience that allows users to engage with their environments in new and exciting ways.
2. VR can improve user engagement and satisfaction in a wide range of applications, including gaming, entertainment, and education.
3. VR can enhance learning outcomes by providing a more engaging and interactive learning experience.
4. VR has the potential to improve patient outcomes in healthcare by providing a more engaging and interactive experience for patients.
5. VR can reduce the cost and time required for training and education by providing a more efficient and effective learning experience.

Virtual Reality Trends

1. The increasing demand for VR in gaming and entertainment is driving the growth of the VR headset market.
2. The increasing demand for VR in education and training is driving the growth of the VR content market.
3. The increasing demand for VR in gaming, entertainment, and education is driving the growth of the VR software market.
4. The increasing accessibility and affordability of VR technology is driving its adoption in new and emerging markets.
5. The increasing demand for VR in healthcare is driving the growth of the VR healthcare market.

Virtual Reality Adoption

1. The gaming industry is the leading adopter of VR technology, followed by the healthcare and education industries.
2. The VR headset market is growing rapidly, driven by the increasing demand for VR in gaming and entertainment.
3. The VR content market is growing rapidly, driven by the increasing demand for VR in education and training.
4. The VR software market is growing rapidly, driven by the increasing demand for VR in gaming, entertainment, and education.
5. The adoption of VR technology is expected to increase in new and emerging markets as it becomes more accessible and affordable.

Industry	Adoption Rate
Gaming	High
Healthcare	Moderate
Education	Moderate
Others	Low

Virtual Reality in The Industry

VR can be used by many companies. Let’s see some of the possibilities.

34. 43% of manufacturing companies say VR will become mainstream in their organization within the next three years.

According to this survey of manufacturing companies from across the world, an additional 38% believe it will be mainstream technology in their organization in three to five years. However, AR is seen as more relevant and is more widely implemented than VR in manufacturing.

35. The implementation level of VR in manufacturing is the highest in China at 51%.

Through focused research and development efforts, direct investment, and building of human capital, Chinese firms, along with the Chinese government, have launched a concerted campaign to become the leader in VR technology.

France is the European leader in this regard. The US scores very high on companies that have proof of concepts or pilots but lags a bit in terms of wider-scale implementation.

36. 82% of companies implementing AR/VR indicate that benefits exceed expectations.

The operational benefits of AR and VR include increased efficiency, productivity, and safety. 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.

37. Repair and maintenance are the most popular focus of AR/VR implementation efforts in manufacturing.

Other parts of the value chain where AR and VR are seeing major implementation are design and assembly, immersive training, and inspection and quality assurance. Within repair and maintenance, jobs that get done using AR and VR include viewing of reference videos and digital manuals, remote expert assistance, visualization of specific components and functions behind physical barriers, and superimposition of step-by-step instructions.

38. Early achievers constitute 6% of all VR experimenters and implementers but derive more than twice the benefits compared to other companies.

Virtual reality data clearly shows that early achievers are witnessing, on average, a 57% increase in efficiency as compared to 23% for other companies. 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.

39. Investing in R&D teams or an innovation center is the top strategy for expanding AR/VR initiatives among manufacturing companies.

This opinion is shared by both early achievers and other companies. This is closely followed by upskilling employees by in-house specialized training, partnering with academic institutions, and hiring people with AR/VR expertise, in that order.

40. 80% of consumers feel positive about experiencing branded VR tactics.

This is great news for marketers. Jaded by conventional forms of advertising, consumers are keen on trying out new formats that allow them to experience brand stories in a more intimate manner. This virtual reality report on marketing shows that the environment is ripe for marketers to move fast to capture audience interest.

41. 20% of consumers say a branded VR experience would make them feel more positively towards the brand.

Only 1% would feel negative about it while the remaining consumers are neutral. If you have an advertising format where 1 in 5 customers are already in your favor for just using that format, it’s your battle to lose. 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.

42. 13% of consumers say VR experiences will cause them to shop more in physical stores.

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.

43. 75% of Forbes World’s Most Valuable Brands have invested in some form of AR/VR experience.

Leading brands are catching up to the potential of VR. The number of these experiences, which could be meant for consumers or employees, is likely to be much higher considering that this data is from a 2015 research.

44. 13% of people who experience a vacation in VR go on to book a trip or get in touch with hospitality companies.

The lifelike rendering of experiences encourages consumers to spend money to experience the real deal, too. Similar virtual reality statistics include:

• A 16% increase in donations to Amnesty International UK’s donations after people experienced conditions in war-torn Syria through VR.
• A 190% increase in Thomas Cook’s VR-promoted New York excursion revenue.
• 51% of Marriott’s customers expressing intent to travel to more hotels in the chain after the company showed VR travel stories from other locations to them.

45. Virtual reality trends indicate an upward movement in the VR adoption rate in the US.

It looks like more and more people in the US will be using VR soon. 

Twenty-five percentage of internet users will be using VR in the US by 2023, which amounts to about 70.2 million people.

Virtual Reality (VR) Game Engines Statistics

Virtual Reality (VR) is an exciting and rapidly evolving field, with new VR games and experiences being developed all the time. Here are some key statistics about VR game engines:

Statistic
The VR gaming market is expected to reach $45 billion by 2027
Over 30 VR game engines currently in use
Unity is the most popular VR game engine, used by over 60% of VR developers
The average cost of a VR game engine is $100 – $200

Table of VR Game Engine Statistics

Statistic	Number
The VR gaming market is expected to reach $45 billion by 2027	$45,000,000,000
Over 30 VR game engines currently in use	30
Unity is the most popular VR game engine, used by over 60% of VR developers	60%
The average cost of a VR game engine is $100 – $200	$100 – $200

Virtual Reality (VR) Game Engines Facts

VR game engines are essential tools for VR game developers, providing the platform and tools they need to create and launch their games. Some of the key facts about VR game engines include:

Fact
VR game engines allow developers to create and launch VR games
VR game engines provide a platform for VR game development
VR game engines offer tools for VR game design and implementation
VR game engines provide support for VR hardware and software

Virtual Reality (VR) Game Engines Benefits

VR game engines provide numerous benefits for VR game developers, including:

Benefit
Reduced development time and cost
Improved VR game quality and performance
Increased VR game compatibility with VR hardware and software
Access to a large community of VR game developers and resources

Virtual Reality (VR) Game Engines Trends

The VR gaming industry is constantly evolving, with new trends and advancements in VR game development. Some of the current trends in VR game engines include:

Trend
Increased use of AI and machine learning in VR game development
Growing demand for VR games with more realistic graphics and physics
Expansion of VR game engines to support AR and MR experiences
Growing popularity of VR esports and VR gaming tournaments

Virtual Reality (VR) Game Engines Adoption

VR game engines are becoming increasingly popular, with more and more VR game developers using them to create their games. Some key statistics about VR game engine adoption include:

Statistic
Over 70% of VR game developers use a VR game engine
The majority of VR games on the market were developed using a VR game engine
The use of VR game engines is expected to continue to grow in the coming years

Virtual Reality (VR) Game Engines Market Analysis

The VR gaming market is a rapidly growing industry, with a large and growing demand for VR games. Some key statistics about the VR gaming market include:

Statistic
The VR gaming market is expected to reach $45 billion by 2027
The VR gaming market is growing at a rate of 20% per year
VR gaming is a lucrative market, with high profit margins

Virtual Reality (VR) Game Engines Demographics

VR gaming is a rapidly growing industry, with a large and diverse user base. Some key demographics about VR gamers include:

Demographic
VR gamers are mostly male, with a gender split of 65% male to 35% female
The average VR gamer is in their mid-30s
VR gaming is popular among both casual and hardcore gamers

Virtual Reality (VR) Game Engines Software

VR game engines are essential software tools for VR game development, providing the platform and tools necessary to create and launch VR games. Some of the most popular VR game engines include:

Software
Unity
Unreal Engine
CryEngine
Amazon Lumberyard

Virtual Reality (VR) Game Engines Opportunities

VR gaming is a rapidly growing industry, with many opportunities for VR game developers and businesses. Some of the key opportunities in VR gaming include:

Opportunity
Large and growing market for VR games
High profit margins in VR gaming
Opportunities for VR game developers to create new and innovative VR games
Opportunities for businesses to enter the VR gaming market and provide VR gaming experiences

Virtual Reality (VR) Marketplaces Benefits Statistics

1. In addition to a 40% increase in order conversion rate, Gunner found there were other benefits. 
2. Early achievers constitute 6% of all VR experimenters and implementers but derive more than twice the benefits compared to other companies. 

Virtual Reality (VR) Marketplaces Market Statistics

3. 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. 
4. According to Statista, the augmented reality market is valued at $30.7 billion, with around 810 million active mobile users. 
5. The consumer VR market worldwide is predicted to reach $3.7 billion at the end of 2021. 
6. Virtual reality market projections show that worldwide spending on AR/VR is likely to reach $72.8 billion by 2024. 
7. 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%. 
8. In 2018, the size of the worldwide augmented reality and virtual reality market was estimated to be $27 billion. 
9. More than that, virtual reality market statistics indicate that China accounted for over 38% of the global AR/VR share in 2020. 
10. According to the same research, VR also has high wordof mouth marketability, with 81% of people who had already experienced VR reporting they had told their friends about it. 
11. With a market size of $10.32 billion in 2019 and an expected annual growth rate of 21.6% from 2020 to 2027, the virtual reality market surely is growing. 
12. The virtual reality market in 2018 was estimated at $7.9 billion. 
13. On the other hand, the market for virtual reality software was estimated at $1.9 billion in 2019. 
14. According to the virtual reality stats for 2020, the market for virtual reality software will continue to grow steadily and reach a value of around $24.5 billion. 
15. the augmented reality market is projected to grow from USD 15.3 billion in 2020 to USD 77.0 billion by 2025; it is expected to grow at a CAGR of 38.1% from 2020 to 2025. 
16. market is projected to grow from USD 6.1 billion in 2020 to USD 20.9 billion by 2025; it is expected to grow at a CAGR of 27.9% from 2020 to 2025. 
17. Between 2021 and 2028, the compound annual growth rate of the market is expected to come in at 18 percent. 
18. 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. 
19. From 2021 to 2028, the compound annual growth rate of the virtual reality market is 18 percent. 
20. The 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 of 15.0% from 2023 to 2030. 
21. ) device segment accounted for the largest revenue share of over 60.0% in 2021 and is expected to dominate the market from 2023 to 2030. 
22. Component Insights The hardware segment accounted for the largest revenue share of over 65.0% in 2021 and is anticipated to dominate the market over the forecast period. 
23. The commercial segment accounted for the largest revenue share of over 50.0% in 2021 and is anticipated to dominate the market over the forecast period. 
24. Europe is estimated to emerge as the fastest growing regional market with a CAGR of 16.6% over the forecast period. 
25. The global virtual reality market size was estimated at USD 21.83 billion in 2021 and is expected to reach USD 28.42 billion in 2023. 
26. The global virtual reality market is expected to grow at a compound annual growth rate of 15.0% from 2023 to 2030 to reach USD 87.00 billion by 2030. 
27. Asia Pacific dominated the VR market with a share of 40.41% in 2021. 
28. The augmented and virtual reality market size was valued at $14.84 billion in 2020, and is projected to reach $454.73 billion by 2030, registering a CAGR of 40.7%. 
29. The augmented and virtual reality market was valued at $14.84 billion in 2020, and is projected to reach $454.73 billion by 2030, registering a CAGR of 40.7%. 
30. Monthly active VR users are up 160% yearover year on Steam, a PC gaming marketplace. 
31. The global metaverse market size is expected to reach USD 1,607.12 Billion in 2030 and register a revenue CAGR of 43.3% during the forecast period. 
32. South Africa Israel Rest of MEA Key questions answered by the report The metaverse market revenue is expected to expand at a CAGR of 43.4% during the forecast period. 

Virtual Reality (VR) Marketplaces Software Statistics

33. On the other hand, the market for virtual reality software was estimated at $1.9 billion in 2019. 
34. According to the virtual reality stats for 2020, the market for virtual reality software will continue to grow steadily and reach a value of around $24.5 billion. 
35. The software segment is expected to register the highest CAGR of 17.0% over the forecast period. 
36. Games earned 55% of VR software revenue in 2017. 

Virtual Reality (VR) Marketplaces Latest Statistics

42. 67% percent of millennials and 48% of baby boomers believe using VR production in meetings and collaborative products is important. 
43. In its recent study on the growing demand for AR/VR in the workplace, here tech giants Dell revealed that 67% of millennials and 48% baby boomers all believed VR would play a vital role in the future of collaboration and comms. 
44. 74% of employees in the UK are concerned about the risks of returning to work, with meeting rooms (41%), communal kitchens (50%), and main offices (65%) being the greatest areas of concern . 
45. Global shipments of VR and AR headsets, estimated at 5.5 million units in 2020, are projected to reach 11 million in 2021 and 43.5 million by 2025. 
46. In its recent report, PwC shocked the world by claiming XR technologies would add a staggering $1.5 trillion to the global economy by 2030 – with 18% of that astronomical growth coming from “process improvements” use cases. 
47. According to Google’s 2019 AR Survey, 66% of people are interested in using AR for help when making purchasing decisions. 
48. Consider, for example, that adding video lifts conversion rates 60% over buyers interacting with images alone. 
49. Merchants who add 3D content to their stores see a 94% conversion lift, on average. 
50. According to a study conducted by UPS, 27% of consumers returned goods because they were “not as described.”. 
51. If you’re already sold on video, then consider this according to 2020 research by Vertebrae—which specializes in AR and 3D ecommerce—conversion rates increase by 90% for customers engaging with AR versus those that don’t. 
52. Already, we’ve seen preliminary indications that this is the case—on some Shopify product pages, 3D models in augmented reality have increased conversion rates by up to 250%. 
53. MOSCOT reported that, since rolling out the technology, it’s seen conversion rates more than double, with overall revenue amongst shoppers who engaged with the 3D and VR increasing by 174%. 
54. Another eyewear brand, Bailey Nelson, has seen a massive 600% lift on conversion rates since bridging its omnichannel experience. 
55. In 2017, it launched its IKEA Place app, which lets shoppers place thousands of items in their homes, with 98% accuracy. 
56. Not only did users stay on the site longer as a consequence, but there was also a 33% increase in conversion rates. 
57. 78% of Americans are familiar with VR technology now. 
58. 70% of VR headset owning consumers have bought a game on it. 
59. Predictions have been made that China will have the most significant AR/VR spending at 36% by the same year. 
60. According to VR statistics for 2023, the implementation and development of VR in engineering can reduce model design time by 10%, and construction time by 7%. 
61. For comparison, the average eCommerce conversion rate is 2%. 
62. In 2021, 17.7% of people will use VR in the US. 
63. It accounts for 17.7% and 28.1% of the total US population. 
64. Reports go further to reveal that 20% cite customer and business hesitation as an obstacle to embracing VR. 
65. Also, a poor content offering by the VR industry was cited as an obstacle by 19% of respondents. 
66. Sony followed with 21.9%, and Pico placed third with 9.2%. 
67. However A report by Greenlight Insights predicted global AR and VR revenues totaling $209 billion in 2021. 
68. VR revenues accounted for about 36% of this sum. 
69. The same source stated that the largest VR spending was in the consumer sector, amounting to 53%. 
70. It is followed by the distribution and services sector with 15.8%, and the manufacturing and resources sector at 13.8%. 
71. This value will increase to 56% by the end of 2021. 
72. 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. 
73. According to VR statistics, spending on location based VR is expected to account for an additional $700 million. 
74. The clickthrough rate went up by 53%. 
75. According to a worldwide survey of startup founders, tech company executives, investors, and consultants, 59% of respondents believe gaming will dominate the investment directed to the development of AR/VR technology. 
76. This number has come down from 78% in 2017 earlier. 
77. The number of VR startups has increased by 14% in less than a year. 
78. Nearly 70% of consumers who own a dedicated VR headset such as Oculus Rift , HTC Vive, or Sony Playstation VR have bought games for it. 
79. This is a remarkable improvement from just 45% in 2015. 
80. 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. 
81. Only 28% of VR set owners use these devices daily. 
82. 39% say they use VR sets once a week, 19% once a month, 8% once every six months, and 6% just about once a year. 
83. According to the GlobalWebIndex study of virtual reality user demographics in the UK and US, 35% of users in the 16 to 34 age group have used a VR headset, while the figure is 26% for the 3544 group, 12% for the 4554 group, and just 6% for the 55. 
84. In terms of gender, 30% of men surveyed had used a VR headset at least once compared to only 16% among women. 
85. 77% of the respondents of a consumer survey who own a VR headset say they are interested in social interactions with other people in VR. 
86. 70% of VR users intend to increase their use in the next year. 
87. 38% of VR users say they intend to increase the use a lot more; 32% say they want to do so by a little more. 
88. Only 7% want to decrease the amount they are spending on VR devices. 
89. Users of highend VR devices are slightly more likely (54%) to consider hardware cost as the primary reason preventing more users from adopting VR compared to budget (48%). 
90. 64% of VR users think VR has the greatest potential in gaming. 
91. Other areas in decreasing order of expectations are film and TV (52%), sports viewing (42%), classroom education (41%), and social media (38%). 
92. 53% of AR and VR aware users believe VR has a higher chance of hitting the mainstream first. 
93. Virtual reality statistics also indicate that once users have actually tried out both AR and VR, their perception changes, with 50% saying AR has a greater potential to hit the mainstream compared to 47% in favor of VR. 31. 
94. In 2020, 55% of users found the VR experience satisfying. 
95. Research has shown that training that incorporates VR reduces the chances of work related injuries by 43%. 
96. For this reason and more, virtual reality data stats indicate that 70% of professionals believe that more businesses will use VR when training employees. 
97. 43% of manufacturing companies say VR will become mainstream in their organization within the next three years. 
98. According to this survey of manufacturing companies from across the world, an additional 38% believe it will be mainstream technology in their organization in three to five years. 
99. The implementation level of VR in manufacturing is the highest in China at 51%. 
100. Virtual reality data clearly shows that early achievers are witnessing, on average, a 57% increase in efficiency as compared to 23% for other companies. 
101. 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. 
102. 80% of consumers feel positive about experiencing branded VR tactics. 
103. 20% of consumers say a branded VR experience would make them feel more positively towards the brand. 
104. Only 1% would feel negative about it while the remaining consumers are neutral. 
105. 13% of consumers say VR experiences will cause them to shop more in physical stores. 
106. 75% of Forbes World’s Most Valuable Brands have invested in some form of AR/VR experience. 
107. The number of these experiences, which could be meant for consumers or employees, is likely to be much higher considering that this data is from a 2015 research. 
108. 13% of people who experience a vacation in VR go on to book a trip or get in touch with hospitality companies. 
109. Similar virtual reality statistics include A 16% increase in donations to Amnesty International UK’s donations after people experienced conditions in war torn Syria through VR. 
110. A 190% increase in Thomas Cook’s VR promoted New York excursion revenue. 
111. 51% of Marriott’s customers expressing intent to travel to more hotels in the chain after the company showed VR travel stories from other locations to them. 
112. Twenty five percentage of internet users will be using VR in the US by 2023, which amounts to about 70.2 million people. 
113. According to virtual reality statistics for 2020, there are 3 main types of VR Fullyimmersive Semiimmersive Non. 
114. Around77%of users say they are in need of more social engagement in VR. 
115. 39%of VR users use their VR headset at least once a week,28%use. 
116. it daily, while only6%use the set once a year. 
117. This practice will reduce the risks by30%. 
118. When applied to engineering, VR can reduce design time by10%and construction time by7%. 
119. About41%of adults will say yes to a VR set whenever they are given the opportunity to do so. 
120. About60%of consumers would like to spend$400or less on a VR set. 
121. According to virtual reality statistics for 2018, virtual reality revenue reached $3.6 billion – even higher than the predicted figure of $3.3 billion. 
122. According to SuperData research reports, the yearto year increase in VR revenue has been 30%. 
123. According to virtual reality user statistics for 2018, the percentage of PC or console based VR/AR users is 35%, while 19% are standalone users. 
124. According to VR stats for 2020, it is forecast to reach an impressive $2.6 billion worldwide. 
125. Around 77% of users say that they are in need of more social engagement in VR. 
126. In comparison with other technologies such as smartphones, computers, and TVs, which are typically used several times a day, 39% of VR users use their VR headset at least once a week. 
127. Additionally, 28% of VR headset owners use theirs daily, while only 6% of owners use the device once a year. 
128. 8% of people use their set only once every six months, and 6% use it about once a year 9. 
129. For example, the penetration rate of virtual reality devices in Norway in 2017 was highest among 15to25yearolds (4%). 
130. According to a virtual reality survey, parents are skeptical about the potential VR for empathy; only 38% believe it can help children empathize with people who are different from them. 
131. In relation to virtual reality user demographics, seven in ten US children between the ages of 8 and 15 reported that they were “extremely” or “fairly” interested in having VR experiences, and 64% of parents reported the same. 
132. The most common reason for parents not buying VR and not planning to do so was that they are not interested (56%). 
133. followed by lack of knowledge about it (31%), it is too expensive (28%). 
134. and/or they are concerned about negative health effects (20%). 
135. What’s more Only 13% of parents say that VR is appropriate for children under 7 years of age, which is typically the age at which children understand the plausibility of media events. 
136. In contrast, almost half of the parents (45%). 
137. In fact, according to Playstation VR statistics, PlayStation has sold more than 3 million PSVR headsets and 21.9 million PS VR games and experiences. 
138. 80% of fortune 2000 companies rely on our research to identify new revenue sources. 
139. Approximately 20% and 80% of primary interviews were conducted with parties from the demand side and supply side, respectively. 
140. As it is, the forecast for 2023 is already a whopping 91.2 percent yearover. 
141. In other words, in this seven year period, the VR sector is expected to grow at an average of 18 percent every year. 
142. As it stands, 14.94 million of these devices are expected to be shipped in 2023, a 54.2 percent increase from 2021’s 9.69 million. 
143. 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. 
144. Nearly one in five of US consumers have used VR in 2020—a three percentage point increase from 16 percent in 2019. 
145. Most users are also happy with the experience, with 55 percent of them saying they’re either extremely or moderately satisfied. 
146. This marks a 20.9 percent increase from 2019’s 43.1 million. 
147. If the predictions hold true, this means that in the four year period from 2018 to 2023, the number of people using VR every month will have increased 75.7 percent. 
148. In fact, its spending projection makes up 30.8 percent of the total amount that’s expected to be spent on VR globally. 
149. Together, the US and China will be responsible for 58 percent of the global investment into VR. 
150. Nearly one in five. 
151. eMarketer estimated that more than 43 million people in the U.S. would use social network AR at least once a month in 2020. 
152. That’s almost 21% of social network users. 
153. As of June 2020, 35% of U.S. respondents said they’d used AR to visualize furniture or vehicle customizations. 
154. June 2020 survey of U.S. retailers showed that 20% expected to invest in AR or VR for their company’s online store, up from just 8% six months prior. 
155. Along with offering 3D views, you can show what a product would look like in a consumer’s space, making it less likely that they receive the product only to find it doesn’t look as anticipated. 
156. This represents 15.7% and 25.0% of the population, respectively. 
157. AR/VR Device Shipments Worldwide, by Device Type, 2020 & 2024 (millions, % of total and CAGR). 
158. US VR Users, 2018 2023 (millions and % change). 
159. * Users, 2018 2023 (millions and % change). 
160. Who Experience VR via Headsets, 2018 2023 (% of total). 
161. US AR Users, 2018 2023 (millions and % change). 
162. US AR and VR User Penetration, 2018 2023 (% of population). 
163. US Social Network AR Users, 2018 2023 (millions and % change). 
164. Report TikTok and Douyin will account for more than 5% of global digital ad spend this year Latin America Retail Media Advertising 2023. 
165. Report TikTok and Douyin will account for more than 5% of global digital ad spend this year. 
166. The gesture tracking device segment is projected to register the fastest CAGR of 17.4% over the forecast period. 
167. The semi and fully immersive segment accounted for the largest revenue share of over 80.0% in 2021. 
168. Regional Insights Asia Pacific accounted for the largest revenue share of over 40.0% in 2021, which can be attributed to the growing improvements in VR technology. 
169. Microsoft’s Xbox Series X & Series S and Sony’s PlayStation 5 are likely to provide VR firms with new opportunities to strengthen their position in the consumer VR arena. 
170. For instance, it was estimated to reach over 400 million users by 2020, which is expected to be opportunistic for the growth of the AR and VR industry in upcoming years. 
171. Thus, 7% reported that they’re making significant investments in VR and 15% plan to invest in the next 3 years; and 10% reported that they’re making considerable investments in AR and 24% are planning to invest in the next 3 years. 
172. In 2016, only 28% of the general public was aware of virtual reality devices, demonstrating the industry’s potential for growth. 
173. Awareness of virtual reality devices rose to 51% in 2017. 
174. 41% of adults said they would give virtual reality a try if given the opportunity. 
175. Around 50% of viewers showed some increase in their likelihood of purchasing or using VR technology after a brief informational experience. 
176. 44% of the people interested in purchasing VR devices are between the ages of 18–35. 
177. 81% of consumers who try VR claim. 
178. they would tell their friends about the experience, while 79% said they’d seek to try it again. 
179. 65% of consumers believe pricing is the most powerful factor involved with purchasing a VR headset/device. 
180. 60% of consumers would prefer to spend $400 or less on a VR headset/device. 
181. 80% of consumers don’t have a particular brand of virtual reality in mind. 
182. For the 20% of consumers that do have a brand in mind, 48% of those are eyeing the Samsung Gear VR. 
183. 48% have a bigger interest in Playstation VR, and 44% would prefer to purchase an Oculus Rift. 
184. 62% of parents agree that VR offers educational experiences for their children. 
185. 66% of consumers are interested in VR shopping experiences. 
186. 77% of virtual reality users want more social engagement. 
187. 28% of people who own VR sets use them daily, 9% say they use their VR sets at least every week, and 19% say it’s about once a month. 
188. An estimated 82 million virtual reality headsets will be in use by 2020. 
189. Only 21% of these families own a VR device and 13% are planning on purchasing a VR device in the next year. 
190. While mobile VR has more users, the platform earned 15% of VR game revenue in 2017. 
191. 50% of millennial consumers expressed favorable interest in virtual reality connected to a gaming system. 
192. 77% of surveyed virtual reality executives agree that VR technology will impact the gaming industry more than any other industry in the next three years. 
193. 77% of the population intending to purchase a VR device for gaming planned on playing VR games on a console device. 
194. 64% planned on playing VR games on a mobile device or tablet, and 28% planned on using a PC. 
195. 76% of children mostly use VR devices to play games. 
196. 66% of consumers are interested in VR for TV, movies, and video, while 60% of consumers are interested in VR for gaming. 
197. 60% of consumers that expressed interest in VR entertainment are seeking action/adventure, and 48% are interested in sci. 
198. After creating a VR experience of the Great Bear Rainforest, Destination British Columbia experienced a 5% increase in visitors. 
199. As a testament to this shift, over 70% of YouTube content is consumed on mobile phones globally. 
200. Virtual currency purchases in Roblox increased 161% to USD 652.3 Million in the second quarter of 2021. 
201. 43.3% The Revenue forecast in 2030 USD 1,607.12 Billion Base year for estimation 2021. 
202. Second Life is always wonderful, sometimes weird, and 100% wow. 

Conclusion

A VR world for us all is not happening yet. The whole idea of VR is still new to the mainstream market and it is still unclear whether the public will take to it or not. But the industry is growing and there are surely amazing things ahead.

Wanna keep up with the latest VR trends? Keep on visiting us.