The mention of the word metaverse rose sharply in corporate earning calls, with the word being mentioned 73 times in Q2 2021, : Morgan Stanley and other wealth management firms paid special attention to metaverse as an investment area in 2021. What Is the Metaverse, and How Does It Work? There was a time in the early 1990s when you couldn't pick up a magazine or watch a movie without virtual reality experiences tempting you to tumble down a digital rabbit hole with Alice and the White Rabbit. This is due to several reasons, but the price is the most common one. "Augmented reality (AR), virtual reality (VR), and mixed reality (MR) market size worldwide in 2021 and 2028 (in billion U.S. Today, the VR headset market size is worth approximately $8.1 billion, 20. Virtual reality sounds like something straight out of a science fiction movie, but believe it or not, its becoming a part of life in 2023. Its expected to grow at an 18% CAGR during the next seven years. A virtual reality device could soon become a part of onboarding procedures in many companies across the world. [1] The latest virtual reality statistics show that the global market size of AR and VR is forecast to hit $296.9 billion in 2024 (Statista, 2021). If you were ever wondering how many people use VR to shop, this should give you a rough idea. Yes. View When one thinks of virtual reality, a VR headset is often top of mind. Head-mounted display devices account for 60% of the global VR revenue share, 25. However, the United States is still the most prominent region for the VR market to date. An approximated $6.4 billion of the total $34.08 billion will be software revenue. It also found 83 percent said that the pace of investment will increase in 2022 and 37 percent expect a significantly higher pace of investment than in previous years. The global virtual reality market size will reach $26.8 billion by 2027, 19. The number of VR-related startups has increased 14 times within just a year. Virtual reality has many potential use cases. Augmented reality games like PokemonGo are major contributors to the popularity of mobile gaming, and AR headsets tend to be much cheaper and more widely available than their VR counterparts. Sales projections have risen to 2.2 million compared to last years 2 million units sold. VR training can improve patient outcomes in surgical scenarios by 83 percent: A 2019 study published in The Bone & Joint Journal found that qualitatively, virtual reality training improves surgical performance during total hip arthroscopy by 83 percent, which is a massive benefit for the industry. But more importantly, nearly half of them are hiring people with the skills needed to capitalize on the metaverse and its opportunities. Global consumer spending on VR/AR will exceed $72.8 billion by 2024, 23. Alyx is followed by another smash hit, Beat Saber, and then Pavlov VR - a multiplayer shooter. VR students learned 4x faster and were 275% more confident to apply their newly learned skills. When compared to the survey above, these virtual reality statistics are comparable. The global market size of VR (virtual reality) gaming market is set to hit around the $100 billion mark in 2027. As it is, the forecast for 2022 is already a whopping 91.2 percent year-over-year increase. Metaverse Meaning - What is this New World Everyone's Talking About? In the US, 58.9 million Following them are healthcare, education, automotive, aerospace, and defense. Sonys VR headset might not be selling as hotcakes compared to consoles, but its still one of the hottest pieces of tech you can own. Virtual reality still has a long way to go until it becomes the norm in the PC gaming world. document.getElementById( "ak_js_7" ).setAttribute( "value", ( new Date() ).getTime() ); document.getElementById( "ak_js_8" ).setAttribute( "value", ( new Date() ).getTime() ); document.getElementById( "ak_js_9" ).setAttribute( "value", ( new Date() ).getTime() ); document.getElementById( "ak_js_10" ).setAttribute( "value", ( new Date() ).getTime() ); This field is for validation purposes and should be left unchanged. 65% of consumers want to explore new places virtually, 35. How many VR users worldwide are there? VR within the engineering industry can, 40. Although its entry point is still significantly more expensive than consoles for the average consumer, VR statistics confirm that the VR gaming industry is steadily growing. With full locomotion and haptic controllers, users are compelled to explore more and, thus, expect to have more stuff to do in VR. Then you can access your favorite statistics via the star in the header. However, by 2030, this number will multiply 23 times. This figure is expected to rise, adding up to 23.8 million shipments of headsets in 2025. What is the difference between augmented reality and virtual reality? VR user statistics reveal that just over a quarter (27%) of people aged 25 to 35 (i.e., young Millenials) are planning on buying a VR headset. Augmented reality (AR) headsets are facing a short-term decline of 8.7% nearing the end of 2022. You need a Statista Account for unlimited access. Seoul Metropolitan Government Launches Public Metaverse. But that doesnt mean there arent many VR enthusiasts already: Steam has more than 120 million users now, meaning that that seemingly measly 1.8 % actually converts into 2.16 million gamers with VR headsets. Thats twice the normal donation rate. Regardless, there are adults who are not interested in virtual reality. Another 39% are investing in upskilling their current employees to gain the metaverse skills needed for the future. We are currently witnessing an explosive increase in the use of virtual reality in the gaming industry, with 16 million VR users defining themselves as hardcore gamers, That adds up to 13% of the total population. Please fill out the form below and the relevant Media Kit will be sent to you. Its just one of many VR facts - more interactivity leads to better immersion. The VR gaming market size is now worth an estimated $1.9 billion U.S. dollars. Virtual Reality (VR) Collaboration Platforms Market Statistics The global virtual reality market size, valued at USD 10.32 billion in 2019, is expected to grow at a CAGR of 21.6% from 2020 to 2027. Gaming takes the lead with 64% of consumers being most excited about this segment. Gaming investments are expected to be followed by investments in healthcare (43%), education (36%), and military/defense (28%), which shows that the industry believes those sectors are going to see more VR usage in the future. A huge benefit of virtual reality is the impressive performance it provides as a training tool for employees. Your email address will not be published. From market size and headset units sold, to commercial use and gaming, heres what we found out about this exciting technology: According to market reports gathered after the end of the fiscal year 2020, the VR market is on the road to becoming one of the most lucrative tech branches. In 2020, the gaming industry earned $1.1 billion. This is followed by 26% allocated to creating advertising content, 25% to live streaming, 24% to film and entertainment, 22% to news and 20% to music. As a Premium user you get access to the detailed source references and background information about this statistic. The ideal entry-level account for individual users. Even gamers, who tend to spend more time with their virtual reality gaming system of choice than the average VR user, plan to make more use of VR in the future. The global virtual reality in manufacturing industry stood at USD 924.7 million in 2018 and is projected to reach USD 14,887.0 million by 2026, exhibiting a CAGR of 39.2% during the forecast period. Of course, its easier to use VR when you have your own device. Academy Of Animated Art | Learn & Create All rights reserved 2022, Consumer spending on AR/VR is expected to reach, 1. As it is, the forecast for 2022 is already a whopping 91.2 percent year-over-year increase. A lot of people are working on developing new VR apps, games, and experiences. Your email address will not be However, you have to decide how you are going to use it and why. The market size of virtual reality is projected to increase from 6.2 billion dollars How much is the VR industry worth in 2023? What is the consumer perception of virtual realitys potential? The In this five-year span, its projected to become worth up to $5.45 billion. The VR global gaming market is expected to continue growing at a CAGR of 32.75% from 2021 to 2026. In practice, only 22% of children who have access to VR gear use their headsets for education, compared to 76% who use it for gaming. Affective computing research has mostly used non-immersive two-dimensional (2D) images or videos to elicit emotional states. Conversely, newspapers, magazines, traditional TV, and home video will shrink 1 percent, forecasts, PwCs Global Entertainment & Media Outlook 20212025. Right now, VR is the peak of interactivity. In the United States alone, the growth of AR/VR tech will create 2.3 million jobs. The survey shows a drop in HTC VIVEs share in the SteamVR ecosystem below Oculus Rift S. Most peoples very first VR game was the Star Wars-inspired rhythm game Beat Saber. They believe in just 3 to 4 years. This is nearly 10 times the increase when comparing the market size of 2021 (above) to 2028. But, in 2022, its value is set to increase by a quarter. How quickly will this happen? Access to this and all other statistics on 80,000 topics from, Show sources information VR Star Theme Park has over 40 virtual reality rides and is a direct cause for the increased popularity of VR entertainment in the region. 80% think it is just a matter of time before virtual reality becomes mainstream. Despite the high prices of VR headsets, virtual reality market growth is mostly stymied by the poor user experience offered by current products. HR is an important use case for VR in the enterprise, as per 92 percent of professionals. In 2018, there were 171 million VR users worldwide, with about 16 million of them identifying as hardcore gamers. 52% of consumers want to attend virtual courses and training, 36. Some pages may include user-generated content in the comment section. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Over half of consumers are interested in learning through virtual reality, another clear benefit to this technology. HTC Vive sales numbers put it in a distant third place, with a minor improvement over last year: $0.8 million vs $0.6 million in 2018. to incorporate the statistic into your presentation at any time. Please fill out the form below and your Media Kit will be sent to you. Learn more about how Statista can support your business. visitors clicks on links that cover the expenses of running this site. Virtual reality is streamlining processes and improving efficiencies across industries. Either way, this represents the small portion of the population considering the majority of Americans in this survey, 76%, have never tried a VR headset. 50% of respondents called the metaverse, an online virtual reality space, exciting. Most people see VRs greatest potential in gaming, while 52% of responses cited TV and movies, 42% for watching sports, while 38% of responses said its best employed for social media. Half of U.S. consumers think the virtual reality metaverse is exciting, 13. In addition to several high-profile VR releases, the technology also started gaining traction in business and enterprise applications. VR statistics are expected to improve as headsets become cheaper and more widely available. That explains why these head-mounted display (HMD) devices made up the majority (60%) of the VR revenue share worldwide in 2021. Archiact is included on the list; the creators of popular VR mobile game series Lamper who received $3.2 million from Chinese company 37Games in return for a 10% share of the company. Over half (55%) of VR users are highly satisfied with the tech reporting extreme or moderate satisfaction. It has come down from sci-fi movies and tech expos to everyday life. At the same time, most of the money will be received from the sale of virtual reality headsets, games and videos. Virtual surgeries, emergency training, and VR anatomies are also in high demand. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Another 32% have a household income of $75k-$100k and 25% make $50k-$75k. dont affect the reviews content in any way. We are in process of revamping Virtual Reality in Education Market with respect to COVID-19 Impact. The VR gaming industry earned $1.1 billion in 2020. 3.7 billion people globally are still offline and are locked out of VR adoption: Even as AR/VR goes mainstream, it is important to note that it remains inaccessible to many. Interestingly, 75 percent said they maintain less physical distance between themselves and those they meet in VR than in real-world surroundings. You can only download this statistic as a Premium user. This number is much lower than in 2018 (41%), suggesting that VR is getting more user-friendly. What do consumers want to do the most in virtual reality? 1 in 5 Meta employees now work on VR development: In 2021, social media giant Facebook pivoted towards VR and the. While 60% of parents are concerned about VR health and safety issues, 62% say they can see virtual reality uses in enhancing their childrens education. VR statistics reveal how a typical VR user perceives this technology. Nearly one-quarter of homes in the United States have been exposed to virtual reality via headsets. This statistic is not included in your account. The World Economic Forum. document.getElementById( "ak_js_2" ).setAttribute( "value", ( new Date() ).getTime() ); document.getElementById( "ak_js_3" ).setAttribute( "value", ( new Date() ).getTime() ); Please fill out the form below and your selected Media Kit will be sent to you. This is another statistic that shows that the social aspect of VR is one of the key elements that the industry needs to pay attention to in the future. To fully understand VRs popularity, weve gathered and analyzed the latest virtual reality statistics. Virtual Reality Rendering Processing Market Report, 2023 to 2030The Virtual Reality Rendering Processing market report is assembled for the forecast years 2023 to 2030. The results were positive - a 30% increase in employee satisfaction, up to a 15% higher retention rate, and, as mentioned, better results on post-training tests. Over the past few years, 2018 to 2021, virtual reality (VR) users in the United 43% of consumers who used VR in the past month own their own VR headset, 7. Yes, but it has some more growing up to do. Valves latest entry in the beloved Half-Life series is also one of the fastest-selling VR games of all time. How much are consumers spending on VR in 2023? before we ever join a company's affiliate program. What does Chat GPT Mean for Enterprise-Grade XR? Whether youre interested in the latest PC and console gaming news, antivirus software, or smartphone reviews, or simply want to learn about the newest geeky gadgets around, we at KT have you covered, and Ivans likely the one well ask. However, every review we commit to is unbiased, objective, and produced According to a Perkins Coie survey, 62% of investors believe that North America provides the most investment opportunities, followed by the EU (21%) and the APAC region (13%). Metas Quest is still the first choice for less than 10 percent of buyers. Its a huge and growing market. These Are the Best PC Gaming Speakers Money Can Buy! Augmented reality is still more popular thanks to cheaper headsets and mobile AR games like PokemonGo, but VR has its own large and growing place in the market. Healthcare is the VR segment with the highest projected CAGR of 19.3% from 2022-2030, 42. A paid subscription is required for full access. 83 percent of industry leaders believe that the pace of investment in immersive technology will increase: of 164 professionals from across industries, the investment climate is bullish. The total number of active virtual reality users in 2022 is well over 171 million, 5. An estimated 64 million Americans used virtual reality in 2022, 2. Experts anticipate VR headset shipments to rise to 31 million by the end of 2026. There are many opinions on virtual reality, but the fact is that its here to stay and better than ever. Four out of ten (41%) companies are investing in metaverse-related technology. Moreso, many believe VR is the future of gaming, science, and education. This accounts for 15.7% and 25% of the total US population. News, Augmented Reality Stats You Need To Know in 2022. In a few more years, it may even take over more aspects of our lives. Thanks to games like PokemonGo, Apples ARKit, and Googles 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 reality statistics. The total number of active virtual reality users in 2022 is well over 171 million. 9% more men have tried virtual reality than women, 29. Researchers say 48% of the content is developed for the video game industry and 31% is social. This mirrors a global trend of new technologies posing an increasing security risk in the eyes of consumers and corporations. 90% of consumers are aware of virtual reality while just 65% are aware of augmented reality, 11. About 38% are Gen-Y, 18% are Gen X, and just 6% are Baby Boomers. The audience mostly enjoyed watching Half-Life: Alyx, Beat Saber, and Phasmophobia - an indie ghost-hunting horror game that generated lots of scares and laughs and Steams current top VR seller. According to. 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