Areas That Attracted Most AR/VR-Related Investment In 2018, Global consumer virtual reality market size 2016-2022, Augmented Reality and Virtual Reality Market, Virtual Reality Market by Offering, Technology, Device Type, and Geography – Global Forecast to 2024, Augmented and Virtual Reality in Operations, Virtual reality gaming market size in MENA 2017-2020, 2018 AUGMENTED AND VIRTUAL REALITY SURVEY REPORT, Number of virtual reality users forecast worldwide 2014-2018, Mobile virtual reality users worldwide 2015-2020, Report: Augmented and Virtual Reality Market Growth, Projected user base of global augmented and VR software by segment 2020-2025, Meet the Consumers That Will Make or Break Virtual Reality Next Year, 53% of Consumers Likely to Purchase from Brands that Sponsor VR, Share of global virtual reality software revenue in 2018 and 2022, by category, Impact and potential of virtual reality training in high-consequence industries, Silver MedalThe 70:20:10 Framework: Formalizing the Informal, VR for Corporate Training: Examples of VR already being used, Development and Analysis of Virtual Reality Technician-Training Platform and Methods, Virtual Reality as a Corporate Training Tool, Boeing: Productive VR Cuts Training Time by 75%, Why This Restaurant Chain Has Started Using VR to Train Employees, Virtual Reality in Retail and Marketing to Generate US$1.8 billion in 2022, Six examples of VR and AR in B2B marketing, Projected value of global retail and marketing VR market 2020-2022, by region, 67% Of Agencies Want To See More VR/AR In Ad Campaigns, Gartner Says 100 Million Consumers Will Shop in Augmented Reality Online and In-Store by 2020, Soaring through virtual aviation: The role of VR in aerospace manufacturing, Stepping into the virtual world to enhance aircraft maintenance, AR and VR set to become mainstream in business operations in the next 3 years, Global virtual reality video gaming revenue 2015-2020, The State of Immersive Technology: Virtual Reality and Augmented Reality Markets, Global virtual reality video gaming revenue 2015-2020, by segment, Professional Services Automation Software - PSA, Project Portfolio Management Software - PPM, 62 Virtual Reality Statistics You Must Know in 2020: Adoption, Usage & Market Share, magnifying learning from each customer experience, artificial intelligence redefined customer service, Virtual Reality for Enterprise and Industrial Markets, Global sales share of VR head-mounted displays 2016 and 2020, by platform, Share of global AR/VR spending by use case 2018. Larger economies, including the US, UK, Germany, and China, are expected to be the most impacted. (Source: eMarketer) Virtual reality market statistics predict that 52.1 million and 82.1 million people in the United States will use VR and AR respectively at least once a month this year. It’s also noted that more than 67% of marketing agencies would like to have more VR implemented in digital ad campaigns. The US is the second-largest investor and is forecast to spend $5.1 billion on virtual reality technology. 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. Stay on topic. In addition, virtual reality sales statistics had predicted revenue generated from VR products to hit $5 million by 2018. If you’re looking for answers to these questions and more, you’ve come to the right place. It’s only the beginning, but the real-world usefulness of VR has prompted an increasing user base. The forecast for 2020 is also a whopping 79 percent year-over-year increase, which goes to show just how popular the technology has grown to become in recent years. In 2018, the gaming space is expected to attract the most AR/VR-related investment at 59%, followed by education (26%), healthcare devices (26%), real estate (21%), marketing and advertising (20%), live events (19%), military (19%), movies and television (18%), retail (18%), and manufacturing (17%). Consumers who do not use the tech say they’re simply not interested in giving it a try or discovering it, which will prove to be a challenge for VR developers. Actually, after years of intense hype and empty promises, things have taken a turn for the better. Who knows? See All. Research on compelling transformative technologies revealed that virtual reality in retail and marketing segments would generate $1.8 billion in 2022. Because VR is still a relatively new technology, there are only a handful of major players in the current market. Sectors driving the growth of virtual reality include gaming and entertainment (Grand View Research, 2019). Primarily, 16 million of these users considered themselves hardcore gamers. See All. PC (40%) gaming has the lion’s share, followed closely by Console (33%) and Mobile (27%). 1. Increasing Demand For AR and VR Devices, 4. Let us know in the comments below! Aside from retail, manufacturing, and training, VR is slowly creeping into the data visualization industry. The barrier to VR use is still particularly troublesome to overcome. Leading tech company Apple, for example, already has a headset in the works, which they’re planning on launching sometime in 2022. 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. This then begs the question: What are some of the key drivers behind such impressive growth? It offers an exciting level of practicality as through the technology, they are able to provide a 1:1 scale model of their design to clients for a more immersive and visual experience. However, you can expect big names to enter the playing field very soon. In one of its projects dubbed “Corporate Training with Virtual Reality,” the tech giant found that 94% of traineeS asked for more VR-based courses to be availed. Most users are also happy with the experience, with 55 percent of them saying they’re either extremely or moderately satisfied. augmented reality Coronavirus COVID-19 virtual reality. To kick things off, let’s take a look at the sector’s market size. 2. What will virtual reality do? In fact, according to PYMNTS research, virtual reality will generate some $1.8 billion via retail and marketing in 2022. Report. Related . A smaller set of glasses is also expected to be up for sale the following year. Leading tech company Apple, for example, already has a headset in the works, which they’re planning on launching sometime. By 2021, there will be 57.1 million VR users in the US. According to the latest estimates, as many as. It’s true that, for long, consumers have been hesitant about embracing VR technology. On the other hand, Statista projected that the VR software market could be worth $25 billion by 2020. Oliver Skinner September 3, 2020 Subscribe to blog digest. by Nick Kolakowski March 25, 2020 6 min read. However, there are flashes of its outsized potential to streamline operations in retail, ecommerce, nongaming entertainment, employee development, manufacturing, and medical training. According to recent data, the virtual reality market was worth $5.12 billion in 2017, and by 2023, the market will reach $34.08 billion. The report also predicts that VR will lead to a growing number of employment opportunities. Chart. In 2017, a technician training survey found that 85% of trainees preferred VR training to traditional methods. Nestor Gilbert is a senior B2B and SaaS analyst and a core contributor at FinancesOnline for over 5 years. On average,  Hispanics, Asians, and African Americans are 5% more aware of VR and AR technology than Caucasians. From growth figures to virtual reality future predictions on the global economy, we’ve got you covered. Virtual Reality Facts: Popularity Increase, 6. Virtual reality is being used by Tyne and Wear Metro drivers to test a new fleet of trains in a Covid-secure way. A recent analysis by leading consulting services firm PricewaterhouseCoopers purports that the tech is capable of injecting approximately $1.83 billion into the world economy by the end of this decade. Report. Augmented and Virtual Reality Market Outlook - 2025. The US market is no exception to this virtual reality growth sweeping across the globe. As it stands, 26 million of these devices are currently owned by private consumers. One example of this includes IKEA’s “kitchen experience” initiative, which allows customers to visit the store through a VR headset, doing without the need to commute and be physically present. With his experience in software development and extensive knowledge of SaaS management, he writes mostly about emerging B2B technologies and their impact on the current business landscape. Entertainment companies have also been eager to implement the technology. There are barriers to virtual reality entry. Virtual Reality (VR) has donned a reputation of being an unfulfilled promise for years now. Even though AR and VR devices still aren’t quite as in-demand as other electronics like smartphones or smartwatches, the growing market size is a clear indication of its potential. The truth of the matter is: VR has the potential to push the boundaries of ordinary life. Nearly one in five (19 percent) US consumers will use VR in 2020 (AR Insider, 2020). 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. Telepresence solutions. This environment is perceived through a device known as a Virtual Reality headset or helmet. Virtual Reality in 2020: How Life Went Virtual During the Pandemic . Out of the businesses deploying VR, 36% are actually implementing the technology, whereas a whopping 64% are only experimenting with it. More people will use VR and AR in the US in 2020. Best to make all of your virtual reality applications and content very mobile friendly. Has VR reached maturity? By 2025, the number of VR users will be as follows: Video games (216 million), Live events (95 million), video entertainment (79 million), retail (31.5 million), education (15 million), healthcare (3.4 million), engineering (3.2 million), and real estate (0.3 million). A whopping 75% of largescale VR implementations derive over 10% in operational benefits. We hope you now have a better idea of the direction this technology is headed towards and its potential. The latest virtual reality statistics show that 52.1 million people in the US will use the technology at least once per month in 2020 (eMarketer, 2020). It’s a technology that’s here to stay. According to pymnts.com, VR will change the way consumers shop online. Interestingly, the annual global enterprise VR revenue (hardware + software) will increase from $1 billion in 2018 to $12.6 billion by 2025. This means that VR market value will grow at a CAGR of 33.95% during the forecast period. medical or military training).Other distinct types of VR-style technology include augmented reality and mixed reality, sometimes referred to as extended reality or XR. In other words, in this seven-year period, the VR sector is expected to grow at an average of 21.6 percent every year. Don’t wait for someone else to do it. On the other hand, Statista projected that the VR software market could be worth $25 billion by 2020. 1. The global VR gaming market size will reach $22.9 billion by 2020. Today, the speed of growth has not changed, but the expanding VR use cases point to a rapid paradigm shift. So what can be garnered from all the big numbers? This number is expected to increase to 57.4 million in 2021 and further to 60.8 million in 2022. This accounts for 15.7% and 25% of the total US population. These key players include Sony, Samsung Electronics, Google, Microsoft, HTC, Oculus (owned by Facebook), Eon Reality, and a few others (MarketsandMarkets, 2020). The short answer is no. The online retail space has been crippled by the inability to try on new technologies like VR. This marks a 20.9 percent increase from 2019’s 43.1 million. This is a significant amount. According to Statista projections, the VR market in the Middle East and North American region will reach $6 billion. About 45% of high-consequence industries players consider VR simulation, either critical or important, to realizing organization objectives over the next 18-24 months. It’s anticipating that the implementation of virtual stores will eliminate the home try-on effect by as much as 25% in the apparel industry. Until recently, consumers were dying with the hope that the technology will soon change the way they shop instore and do things online. Rely on our Market Intelligence platform to get the latest trends on the Virtual Reality Industry and anticipate the future of the sector. The global VR in the healthcare market is projected to reach $30.40 billion by 2026, exhibiting a CAGR of 42.4% during 2019-2026. We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website. Sam Machkovech - Feb 12, 2020 11:45 am UTC Whether you’re looking to adopt the technology for your, or be a leading seller of its devices, it’s always better to get a jump on it sooner rather than later so why not get. Boeing is a prime example of how heavy industry can implement VR in trainING. Approximately, the spending on VR for business will reach $9.2 billion by 2021. No spam. Besides, the VR market will grow from $7.9 billion in 2018 to $44.7 billion by 2024. While it has not metamorphosed into the ubiquitous technology, we hope it will. This will mean an impressive increase of almost eight-fold from 2020 to 2025. This is done with the use of special devices such as headsets, goggles, gloves, and more, which allows users to explore and interact with these virtual worlds and their elements. Given the potential and benefits of virtual reality technology, it should come as no surprise that the demand for AR and VR headsets is set to gain further traction in the near future. Applications of virtual reality include entertainment (e.g. Overall, the virtual reality market size (software + hardware) will reach $16.3 billion by 2022. IKEA, Wayfair, and Lowe’s have implemented the VR experience, and the benefits are there for everyone to see. However, this immersive technology has a long way to go before its transformative power can effectively bridge the gap between online and in-store shopping, as many anticipated. Going forward, all signs point to a surge in the virtual reality market. According to Michael Boland, Founder & Chief Analyst at ARtillery Intelligence: “The advent of standalone VR headsets like Oculus Quest — along with Facebook's investment in the technology and price competition — will make high-end VR accessible to larger audiences. Nearly one in five (19 percent) of US consumers have used VR in 2020—a three percentage point increase from 16 percent in 2019 (AR Insider, 2020). China and the US are the two leading investors in VR and are expected to spend $5.8 billion and $5.1 billion on the technology this year (Statista, 2019). Whether you’re looking to adopt the technology for your ecommerce store or be a leading seller of its devices, it’s always better to get a jump on it sooner rather than later so why not get. While the use of VR is not as advanced as the use of AR in manufacturing, it’s still supporting numerous use cases. With not much other than a headset needed to play a VR game, it makes it easy and convenient for gamers to just pop the device on, launch, and be taken to an entirely different world. 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. That’s not all: this number is expected to double to 11 million just one year later, and further soar to 43.5 million in 2025. Global Augmented Realty and Virtual Reality in Healthcare Market report spotlights major statistics of the current industry state and is a beneficial source of developments and opportunities for individuals and firms interested in the Augmented Realty and Virtual Reality in Healthcare industry. The clunky VR simulations of the early days opened the doors to unique VR options. jobs set to be using AR and VR in one way or another for training, meetings, and customer service purposes by 2030 (PwC, 2019). Analysts credit a part of the AR and VR boom in 2020 to the coronavirus pandemic, which sent the world into lockdown and forced offices to close and employees to work from home. The incorporation of VR for commerce has been particularly popular among businesses and organizations. So how well prepared are you for the future when VR becomes a fixture of daily life? You will spend your flights in virtual reality. The use of VR technology has enabled Airbus to reduce the duration of maintenance processes by 25%. Even more, the biggest concerns for investors in VR startups include slow adoption (71%), lack of renowned market for VR (67%), untested technology (18%), and competition (13%). What are you expecting from VR in 2020? At Visualise, we’ve worked with some of the biggest names in the medical & pharmaceutical industries to create a range of VR experiences. Mobile augmented reality hit a user base of 900 million in 2019 and is projected to surpass 3.5 billion by 2022. With millions of people forced to work remotely due to the COVID-19 pandemic, the very nature of how companies do business is changing rapidly—the only question is whether these changes are permanent, or if we’ll all revert back to office life once the threat of the virus subsides. (19 percent) of US consumers have used VR in 2020—a three percentage point increase from 16 percent in 2019 (AR Insider, 2020). Despite it being a relatively nascent technology, the adoption of virtual reality across companies, organizations, and even governments worldwide has been widespread as its potential becomes clearer with every new development. Oberlo uses cookies to provide necessary site functionality and improve your experience. The segment is projected to generate $5.4 billion in 2019 and $8.5 billion in 2020. The global giant cut training time by 75% by implementing VR technology. He argues that ‘virtual reality’ isn’t even the phrase we’ll use to describe the medium in 2020 because it will be so much bigger than that. All B2B Directory Rights Reserved. It’s still early to speculate. This will all change this decade, with as many as 23 million 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 user base will comprise of 30.6 million nonheadset VR users and 26.5 VR headset users. This is a significant amount. Such wide coverage definitely brings advantages both for consumers and businesses. There you have it a compilation of the most intriguing virtual reality statistics. In fact, its spending projection makes up 30.8 percent of the total amount ($18.8 billion) that’s expected to be spent on VR globally. However, he also provides in-depth reviews on a wide range of software solutions to help businesses find suitable options for them. It might not … Right now, there are fewer than half a million jobs worldwide that are impacted by VR and/or AR. This marks a 20.9 percent increase from 2019’s 43.1 million. Moreover, in 2018, there were more than 130 million mobile VR users globally. Virtual reality has taken off from the novelty phase, and it’s starting to show strong signs of going mainstream. The immersive technology is shaking things up across different industries, including retail and manufacturing. Initially, VR HMDs were made for entertainment, with focus on games. The VR gaming industry has also recorded an accelerated growth rate, and the penetration has been encouraging. Together, the US and China will be responsible for 58 percent of the global investment into VR. Here’s a summary of the Virtual Reality statistics you need to know in 202q: Is there anything else you’d like to know about Virtual Reality statistics and wish was included in this article? Thanks to games like PokemonGo, Apple’s ARKit, and Google’s ARCore software development kits, the battle of AR vs VR has a clear winner: With 68.7 million projected users, augmented reality is still more widely used, according to our augmented re… Also, by the end of 2019, approximately 45.7% of VR users or 19.6 million people in the US will use VR headsets. The latest virtual reality statistics show that the global market size of AR and VR is forecast to hit $18.8 billion in 2020 (Statista, 2019). Mainly, instore retailers are determined to use VR technology to repress the home-try-on effect, which has been a vexing problem. Besides, the company projected that the 5-year ROI of a single VR-based course could reach 300%. More and more US residents are also expected to start using VR more frequently. According to a recent virtual reality report, the top areas for the predicted VR revenue in 2025, include video games ($1.4 billion), NFL-related content ($1.23 billion), and adult content ($1 billion). This does not come as a surprise because VR found a home in gaming long before its use in other sectors was conceptualized. Do it now. The 360-degree videos hosted on Facebook have generated over 580 million views. 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%. Besides, the global VR gaming market size will reach $22.9 billion by 2020. Virtual and augmented reality technologies shouldn’t be going away anytime soon; as the above statistics highlight, they look to continue growing over the coming years. Right now, there are fewer than half a million jobs worldwide that are impacted by VR and/or AR. This means the VR market will grow at a CAGR of 33.47% between 2018 and 2024. In fact, since its inception, virtual reality has been a slow burner, and the one dimensional progressed offered no reassurance. The revolutionary technology tantalized, everyone fell in love, but the much-hyped transformative effect never quite arrived. (eMarketer) That adds up to 13% of the total population. By 2018, Virtual Reality has stepped out and expanded to marketing, retail, military, education, fitness, and healthcare. Besides, VR is finding more use in aerospace, with leading industry players such as and Boeing, using the immersive technology to streamline design and test new features. On the other hand, only 59% of small scale VR implementation derive more than 10% operational benefits. Finally, the dawn seems to be at hand, and the roller coaster-like hype series has giving birth to real VR experiences. This is followed by the entire Western Europe bloc with $3.3 billion and Japan with $1.8 billion. Of these HMDs, 22.7 million will be standalone HMDs, 15.9 million mobile HMDs, and 2.6 million PC-based HMDs. 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. Not only does this mean that we’ll see an increased number of companies operating within the niche, it means that companies outside of it will have to begin adapting. What does this tell you? Let’s start with some statistics related to the preparation phase of virtual events. Given the advantages of VR in gaming, it should come as no surprise then that more and more gaming companies will be adopting the technology as demand for it grows. VR, together with learning management software delivers multiple benefits and is, without a doubt, helpful in training. The price drop will enable small businesses to implement VR to remain competitive in the dynamic markets. A quick look at the best VR headsets in 2020 by different review sites shows that these brands dominate the list with their products. Compared to other industries, the virtual reality gaming space has won a notable market size. Since content encourages repeat use, which is one of the biggest factors of success, this is good news for the VR market. According to virtual reality headset sales statistics, by 2025, the shipment of home mounted displays ((HMD) for enterprise VR use cases will reach 41 million devices. But that seems to be changing, and fast. on the technology in 2020 (Statista, 2019). 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. 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