40+ Powerful Virtual Reality Statistics to Know in 2023

Susan Laborde

from Techreport on 2023-07-11 01:49 (#6CVZP)

In This Guide In This Guide

Virtual Reality Statistics: Future Projections
General Statistics on VR Market
User Statistics of Virtual Reality
Virtual Reality Industry Statistics
Conclusion
FAQs

In This Guide

Virtual Reality Statistics: Future Projections
General Statistics on VR Market
User Statistics of Virtual Reality
Virtual Reality Industry Statistics
Conclusion
FAQs

Technology enthusiasts and fans of science have long been attracted to Virtual Reality (VR). The term can be explained as an umbrella word encompassing numerous computer-generated experiences in a simulated environment.

It is closely related to another aspect of technology known as augmented Reality (AR). However, there is a significant difference between VR and AR as the latter uses a real-world setting where users can control their presence, while VR is entirely virtual.

Although many people are still getting familiar with this technology, the future will enable it to attain the proper recognition it deserves. Thankfully, promising growth has been entertained within the last few years, with projections for the coming years even more mind-blowing.

The statistics in this article will illuminate how far the prevalence of Virtual Reality has spread, its public acceptance, usefulness, and general industry adoption. So, let's quickly dive in!

Virtual Reality Statistics: Future Projections

Starting from the inception of Virtual Reality around the 2010s, although the first VR headsets came in the early-mid 1990s, growth has constantly occurred.

Every year, projections are made for what new implementation could occur in the system. To date, the question, what does the future hold for VR, still lies within the lips of many developers and users alike. Here are some VR statistics that talk more about past and future projections.

1. The Global VR Consumer Market was to Reach $3.7 Billion at the End of 2021.

Despite the COVID-19 pandemic's effects on the VR sector, the year was expected to produce a strong comeback. The consumer virtual reality industry (including Hardware and software) was anticipated to expand by $1.1 billion compared to 2020, showing a favorable rising trend, according to 2021 VR data.

(Source: Statista)

2. China will carry Out the Most Significant Expense of AR/VR.

By 2024, a considerable $72.8 billion will be spent on AR/VR technology, according to global predictions. The United States and Western Europe will be close behind China, predicted to account for 36% of the AR/VR investment market share that same year. This will put the Chinese in front as the most significant expense on the technology made by any country.

(Source: IDC)

3. Over the Next Few Years, Virtual and Augmented Reality Devices will Tremendously Grow in Demand.

The most recent data on virtual reality sales shows a sharp increase in the distribution of VR/AR devices worldwide, with projected growth to 68.6 million devices being shipped in 2023. Additionally, a bullish prediction is that the combined sales of AR and VR headsets will reach over 30 million by the end of the same year.

(Source: Statista)

4. Adopting Virtual Reality will Offer Significant Benefits to the Engineering Industry.

Incorporating and developing VR technology into diverse aspects of engineering can cut model design time by 10% and building time by 7%, according to VR statistics in 2022. The engineering procedures become more effective overall as a result of this enhancement. Although that is not all, these few already say a lot.

(Source: Swag Soft)

5. The Rise of VR is Becoming More Prominent in E-commerce.

The use of VR in e-commerce can enhance online shopping rates of conversion by 17%. This upgrade would be a significant improvement over the current average online shopping conversion rate of 2%, according to VR data for 2022. This demonstrates virtual Reality (VR) experiences' substantial influence on consumers' purchase decisions, making it an essential tool in e-commerce.

(Source: Swag Soft)

6. 17.7% of Individuals in the United States were Projected to Use VR in 2021.

According to figures from the virtual reality market, 17.7% of the country's population, or 58.9 million people, will use VR at least once a month in the United States. Additionally, almost 93.3 million individuals-or 28.1% of the US population-were anticipated to use AR monthly. These numbers represent a significant increase from 2020 when 52.1 million and 82.1 million US citizens used augmented Reality and Virtual Reality monthly.

(Source: eMarketer)

7. One of the Most Significant Obstacles to Future VR Adoption is User Experience.

According to figures for 2022 on VR adoption, 27% of the technology's industry professionals believe that obstacles to extensive VR adoption include user experience issues, including cumbersome Hardware and technological hiccups.

Furthermore, according to statistics, 20% of businesses and customers cite hesitation as a critical barrier. Another barrier to adoption, according to 19% of respondents, is the VR industry's need for more exciting content.

(Source: Statista)

8. In 2020, the Largest Vendor of Virtual Reality Headsets was Facebook.

According to virtual reality shipping data for 2020, Facebook became the clear market leader in the second quarter, claiming 38.7% of the market. These statistics were on the basic calculation of sold shipments of VR and AR headsets, totaling 5.5 million units in 2020. Sony held the second spot with 21.9% of the market, and Pico took third with 9.2%.

(Source: Finances Online)

General Statistics on VR Market

This section encompasses everything necessary about that growing VR market.

9. A Growth of 7.7X was Predicted to Impact the Worldwide Market Size of Virtual and Augmented Reality Between 2018 and 2022.

The global augmented and virtual Reality market was valued at $27 billion in 2018. Also, according to a report by Greenlight Insights, the global AR and VR market was expected to generate $209 billion in sales by 2021. Notably, 36% of this amount came from VR revenues.

(Source: Statista)

10. 53% of Worldwide Expenses on AR and VR Were Accredited to Consumers in 2020.

IDC predicted that 2020 the combined worldwide market would be worth $12 billion. The survey also noted that 53% of the total amount spent on VR was in the consumer sector, which accounted for the most significant share.

The logistics and services industry, which comprised 15.8% of spending, was just behind it, while the production and manufacturing industry, which accounted for 13.8%, came third.

(Source: IDC, Finance Online)

11. The Worldwide VR Market Share will be $20.9 Billion.

According to recent statistics, the worldwide VR market is anticipated to grow by $14.8 billion by 2025. The market size is expected to expand significantly due to the predicted expansion, underscoring the growing demand for and use of VR technology across various global businesses and sectors.

(Source: Finances Online)

12. In 2020, China was the Biggest Spender on AR/VR, With Over $5.8 Billion Invested.

With a total investment of $5.1 billion, the US is the second-largest virtual Reality consumer. Western Europe came in second place with spending of $3.3 billion. Furthermore, according to figures on the virtual reality business, China accounted for a sizeable 38% of the worldwide AR/VR market in 2020. This percentage was anticipated to increase to 56% by 2021, highlighting China's expanding power and influence in the AR/VR market.

(Sources: IDC, Finances Online)

13. In 2020, Over 26 Million Augmented and Virtual Reality Headsets were Owned.

The advancement is quite impressive, especially in light of the sales numbers from 2019, which showed that just 14 million virtual reality gadgets were shipped. Virtual Reality is becoming increasingly popular and widely accepted among customers worldwide, as seen by the significant increase in sales and adoption of VR technology.

(Source: Finances Online)

14. Over the Years, VR Smartphone Device Sales have Dropped Significantly.

The decline in consumer interest in smartphone-based VR devices is a significant factor in the decrease in device sales. Some of them have several drawbacks, including the fact that they are bulky and tether the phone when in use.

(Source: IBC)

15. Between 2018 and 2022, the Demand for Standalone Virtual Reality Gadgets will Grow Over 16 Times.

According to recent projections, the standalone AR and VR devices market will increase significantly, accounting for more than half of all AR and VR device sales by 2022, with an anticipated 29 million pieces sold.

It is anticipated that 18 million tethered headsets, which require an internet connection to a laptop, mobile device, or console, will be sold in 2022. This shows that tethered headsets will continue to exist in the market even as standalone devices gain popularity.

(Source: Iberdrola)

16. In 2021, VR Content and Applications Expenses were to Reach $3.77 Billion Worldwide.

According to VR data, location-dependent VR systems will boost the market by an additional $700 million. The total amount spent on VR apps, content, and location-based VR will rise from $2.54 billion to $3.77 billion between 2019 and 2021.

(Source: Statista)

17. 2024 Virtual Reality Video Gaming Revenues will Reach $2.4 Billion.

VR statistics for 2022 show that the current value of the money made through VR gaming is $1.1 billion. By 2023, it will reach $1.6 billion; by 2024, it will reach $2.4 billion. These numbers demonstrate the VR gaming market's consistent growth and potential, indicating an exciting future for the sector.

(Source: Finances Online)

18. In 2020, a Cosmetic Brand Created an AR Filter and Recorded Immense Growth.

A Facebook AR filter was used by the company We Make Up" in 2020, and this had a remarkably beneficial effect on the brand. A substantial 53% increase in clickthrough rate indicates increased user engagement. Additionally, the brand saw a significant 28-point increase in revenue and a stunning 7.9-point increase in brand recognition.

(Source: Finances Online)

19. Gaming Shares will Come Down Despite having the Most VR Investments.

According to a global study of startup CEOs, IT business executives, investors, and consultants, 59% of participants think gaming will receive the most investment in AR/VR technology advancement. Meanwhile, real estate, healthcare, and other vital industries are gaining investment in AR/VR technologies.

(Source: Perkins Coie)

20. VR Startups have Seen a 14% Increase in Less Than a Year.

As of January 2020, 2,270 virtual reality firms were on AngelList. It is a popular online resource for entrepreneurs and investors. This is a considerable increase compared to more than 1,800 startup brands in May 2018. The site also included 978 investors, which suggests that many of these VR businesses have successfully secured sizeable finance to assist in the growth of their technologies.

(Source: AngelList)

User Statistics of Virtual Reality

user-statistics-of-virtual-reality-1024x

How often do people use VR? How is the consumer market of this constantly improving technology? Here are statistics that show the eagerness and user response to Virtual Reality.

21. By 2022, AR Users in the United States will Reach 95.1 Million.

In recent years, VR users have experienced remarkable growth at a very high rate. Statistics as of 2020 revealed an outstanding 57.4 million users who actively engaged in VR systems in the US. On the part of AR, there was a massive number of over 90.9 million users. The future predicted more, and expectations suggested that there would be over a 37.7 million increase by 2022 from the height of 2020.

(Source: Finances Online)

22. 70% of VR Consumers who Own Headsets have Used Them for Gaming.

The vast majority of VR users who buy games demonstrate the popularity of gaming as the primary consumer usage of Virtual Reality. About 70% of people who own a specialized VR headset, such as the Oculus Rift, HTC Vive, or Sony Playstation VR, have bought games for the device. Similarly, more than half of smartphone VR headset owners have purchased games, especially for playing on mobile devices.

(Source: Grafa)

23. VR Technology is Now Standard Among 78% of Americans.

From 45% in 2015, the percentage of AR/VR advantages that exceeded expectations has increased significantly. Recent demographic studies show that 90% of US and UK consumers are aware of virtual Reality (VR) technology, ascribed to inexpensive devices and media attention.

(Source: GlobalWebIndex)

24. Virtual Reality Set Owners Who Use Their Devices Daily are as Low as 28%.

Only 39% of users use VR devices weekly, while 19% do so monthly, 8% do so every six months, and 6% do so annually. This is insignificant in light of modern devices like tablets, smartphones, and laptops.

In the past, VR systems have been challenging to set up and have a limited content selection. However, less complex gadgets like Oculus Go are anticipated to alleviate these worries.

(Source: Greenlight Ventures)

25. Younger Males are the Most Probable Category to Have Used VR Headsets.

According to the GlobalWebIndex research, 35% of users in the 16-34 age range had used a VR headset. For the age groups of 35 to 44, 45 to 54, and 55 to 64, this percentage falls to 26%, 12%, and a meager 6%, respectively. Only 16% of surveyed women had used VR headgear, compared to 30% of men.

(Source: GlobalWebIndex)

26. 77% of VR Users Want Many Socializing Features on Their VR Products.

A startling 77% of poll respondents who own VR headsets indicated a desire for social connections in the medium. This fits with the expanding trend of apps for Virtual Reality that enables user interactions in those environments. To add, playing games, viewing videos, and conversing are everyday social VR activities.

(Source: Forbes)

27. The Cost of Hardware is the Highest Barrier to Reducing the VR Adoption Rate.

54% of users of high-end VR devices name the expense of the gear as the main obstacle to broader VR adoption. Budget and mid-range users, in contrast, have reservations about the VR experience's usability and applicability (48 and 50%, respectively).

Users of high-end devices worry less about problems like motion sickness or a lack of practical applications. The second major obstacle for all consumers is the need for more exciting content that makes VR investments worthwhile.

(Source: GlobalWebIndex)

28. 64% of VR Market Users Believe VR has Excellent Gaming Potential.

Over half of the respondents in a virtual reality study said gaming would be the industry to gain the most from VR technology. This view might result from the industry's current emphasis on gaming, which obscures the promise in other sectors.

In descending order of expectations, other areas of projected benefit include watching movies and TV (52%), sports (42%), learning in the classroom (41%), and social media (38%).

(Source: GloballWebIndex)

29. Approx. 53% of AR and VR Users Suggest that VR will Explode Faster Than AR.

Interesting findings are revealed when investigating how the general public views the relative potential of augmented reality (AR) and virtual reality (VR) technology to revolutionize sectors. Virtual reality statistics show users' perspectives change after engaging with AR and VR.

Notably, 47% of users support VR, while 50% think AR has a better chance of becoming widely used. This shows that after customers have first-hand experience with both systems, their perception will change noticeably.

(Source: GlobalWebIndex)

30. Only 55% of VR Users in 2020 were Happy with Their Experience.

This means that 45% of consumers have found that VR technology needs to measure up to the hype surrounding it. Some of the difficulties that lead some to believe that VR is an overhyped craze include hardware limitations, a lack of content, and sluggish growth outside of gaming. This is especially concerning for the end-user VR sector, which has struggled to maintain the momentum created by the technology.

(Source: Finances Online)

31. The Most Popular Vrand in the VR Technology World is Samsung.

The best VR solution depends on the user's preferences and available funds; alternatives range from low-cost devices like Google Cardboard to advanced ones like HTC Vive and Oculus Rift. In the past, Samsung's Gear VR headgear attracted much attention, while Sony's PlayStation VR is still prevalent.

(Source: Verdict)

32. Professional Workers had VR/AR Technologies as Training Options in 2021.

Virtually endless advantages of VR/AR are possible. According to studies, virtual reality training can considerably lower occupational injuries by a significant 43%.

According to virtual reality data estimates, 70% of professionals believe VR will help staff training in corporate and elsewhere.

(Source: Finances Online)

Virtual Reality Industry Statistics

This section exposes you to the industrial use of VR and how many companies utilize it for different purposes.

33. 43% of Manufacturing Companies Predict VR will become a Significant Part of Their Organization in 3-5 years.

According to 43% of respondents in a global poll of manufacturing enterprises, VR technology will become widely used within their organizations during the next three to five years.

In contrast to virtual Reality (VR), Augmented Reality (AR) has achieved broader adoption in the manufacturing sector and is more relevant.

(Source: Capgemini)

34. Virtual Reality's Implementation Level of 51% in Manufacturing is the Highest in China.

With concentrated efforts, investments, and official assistance, China aspires to be the global leader in VR technology. France emerges as the frontrunner in Europe, while the US leads in concept proof but is behind in widespread application.

(Source: Capgemini)

35. Approx. 82% of Companies Implementing AR/VR Technologies Report More Remarkable Results than Expected.

Operational advantages provided by AR and VR include increased productivity, efficiency, and safety. According to VR statistics, businesses that adopt these technologies widely are more likely to experience considerable operational benefits.

(Source: Capgemini)

36. AR/VR Implementation Efforts Focus on Manufacturing Repair and Maintenance.

AR and VR are famous in several value chain phases. They play vital roles in immersive training, design and assembly, quality assurance, and inspection. Additionally, AR and VR make it easier for jobs like watching reference videos, getting professional advice from a distance, visualizing components, and overlaying step-by-step instructions in repair and maintenance.

(Source: Capgemini)

37. 6% of Virtual Reality Users are Early Achievers who Derive More Benefits Than Other Companies.

Data on Virtual Reality clearly shows that early birds are reaping excellent benefits. These businesses boost efficiency by 57% on average, vs 23% for other companies. They also observe a striking contrast in measurements, like a 55% increase in safety compared to a 23% gain in productivity and a 47% decrease in complexity compared to a 19% increase.

(Source: Capgemini)

38. Investments in Innovation Centers are Some Top Strategies for AR/VR Expansions.

Both early adopters and other businesses concur that AR/VR has many advantages. The following priority activities are that order, employing people with experience in AR/VR, partnering with academic institutions, and upskilling personnel through specialized in-house training.

(Source: Capgemini)

39. The Trends in VR Show Progress in the Technology's Adoption Rate in the US.

Soon, it is anticipated that VR adoption in the US will considerably expand. By 2023, it is predicted that 25% of those who use the web, or over 70,2 million individuals, will be using VR technology.

(Source: Finances Online)

40. 75% of Forbes World's Most Valuable Brands have Invested in AR/VR Growth.

Well-known corporations are actively embracing Virtual Reality after realizing its potential. It is worth noting that the amount of VR experiences geared toward customers and staff is anticipated to be significantly higher than indicated by the 2015 figures. Since then, the industry has considerably changed and grown.

(Source: YouVisit)

41. 13% of VR Users Report That Their Experiences Cause Them to Shop for More in Physical Stores.

Customers lovetraditional tactics like food and beverage offerings, individualized service, and live product presentations. Virtual reality trends, on the other hand, show that VR experiences are gradually developing into profitable ventures for businesses to boost client engagement and promote increased spending.

(Source: Walker Sands)

42. 20% of VR Consumers Say They Like VR Brands Due to Their Experiences.

Only 1% of customers have an unfavorable opinion of VR as a format for advertising, while 81% of VR users spread positive word-of-mouth. This offers enterprises who adopt VR a significant advantage.

(Source: Touchstone Research)

Conclusion

Virtual Reality is one of the highest trending technologies in the world currently, with its use most efficient in the gaming sector. However, other sectors are implementing its features and usefulness. As seen in this article, several statistics surround the inception of the technology, its growth, and industrial acceptance. Ultimately, it is still being determined how far the VR initiative will grow, but the trends are encouraging. We can only keep looking toward what the future holds for technology.

FAQs What is the projected growth rate of Virtual Reality Users in the United States by 2023?

By 2023, 70.2 million US internet users will use VR technology or around 25% of the total.

Which VR/AR technology advantages stand out the most?

VR/AR technology has several advantages, including improved productivity, safety, and simplicity.

How are companies utilizing virtual Reality to engage customers and double profits?

Enterprises are increasingly using VR experiences as effective technological investments. Businesses may entice customers to spend more money by offering immersive and captivating experiences. Additionally, with 81% of users sharing pleasant experiences with others, VR provides a strong word-of-mouth marketing potential.

The post 40+ Powerful Virtual Reality Statistics to Know in 2023 appeared first on The Tech Report.

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