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. By 2021, there will be 57.1 million VR users in the US. Virtual reality (VR) is a simulated experience that can be similar to or completely different from the real world. 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. About 45% of high-consequence industries players consider VR simulation, either critical or important, to realizing organization objectives over the next 18-24 months. These statistics show the average costs of event attendees, the hosting platforms used by the industry, and the ideal timings for virtual events.. 31.6% of B2B marketers use Intrado as their virtual event hosting platform for large conferences. Out of the businesses deploying VR, 36% are actually implementing the technology, whereas a whopping 64% are only experimenting with it. 5 Best Augmented Reality Ecommerce Examples, 10 Best Augmented Reality Apps for Android and iOS in 202q, 10 Ecommerce Trends That You Need To Know in 2021 [Infographic], 10 Artificial Intelligence Statistics You Need To Know in 2021 [Infographic]. When it comes to the device, games are played on, Console (77%) leads the way followed by mobile/tablets (64%), and PC/stream machine (28%). 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%. The signs are encouraging, and when all hurdles are cleared, VR’s transformative power will take full effect. Related. It is good to note that 63% of US gamers are aware of VR or AR gaming devices. Right now, there are fewer than half a million jobs worldwide that are impacted by VR and/or AR. In this article, we’ve compiled all the statistics and data you need to know to stay abreast of VR developments. VR PC gaming sales revenue has registered an upward trajectory since 2016. The segment is projected to generate $5.4 billion in 2019 and $8.5 billion in 2020. By using our website, you agree to our privacy policy. As that happens, the number of … Steam: Virtual reality’s biggest-ever jump in users happened last month We know, we know—VR is still a sliver, but that sliver sure is picking up pace. 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). We’ve seen a huge increase in the use of VR in the healthcare sector and continue to be fascinated & impressed by the different applications our clients are requesting. Virtual & Augmented Reality Users, US. 5.5 million units of AR and VR devices are set to be further shipped to customers worldwide in 2020 (Statista, 2020). (Grand View Research, 2020). By 2022, the total number of virtual reality experiences will account for 40% of all B2B experiences. Email I want bi-weekly blog digest updates for clients I want bi-weekly blog digest updates for voice actors Subscribe Submit × When you hear the term ‘virtual reality,’ maybe you reflexively conjure the image of a casual VR user sporting a headset and gripping … 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). What will virtual reality do? 1. units are set to be further shipped to customers worldwide in 2020 (Statista, 2020). In addition, 46% of businesses anticipate VR to become mainstream within the next 3 years, whereas 53% believe that VR will become mainstream after the next 3 years. Virtual Reality: Future Predictions on Economy and Employment, 7. (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. Today, the speed of growth has not changed, but the expanding VR use cases point to a rapid paradigm shift. Mobile VR sales revenue will reach $8.2 billion by 2020, up from $0.7 billion in 2016. The AR market is projected to be worth over $18 billion in 2023. 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). To illustrate, the segment generated $1.6 billion in 2016, $2.5 billion in 2017, and $3.8 in 2018. Virtual Reality Facts: Popularity Increase, 6. The 360-degree videos hosted on Facebook have generated over 580 million views. The latest virtual reality statistics show that. 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. Augmented reality users fall into the 16-34 age group. So how well prepared are you for the future when VR becomes a fixture of daily life? Related . What are you expecting from VR in 2020? Do VR benefits outweigh the risks? Besides, the company projected that the 5-year ROI of a single VR-based course could reach 300%. By 2020, the global virtual reality industry is predicted to generate $21.5 billion in revenue, a huge jump of over 4x in just four years. Overall, the virtual reality market size (software + hardware) will reach $16.3 billion by 2022. And they’re not stopping at one. VR allows us to immerse ourselves in video gamesas if we were one of the characters, learn how to perform heart surgery or improve the quality of sports training to maximise … More importantly, 57% of early achievers have had a 10% increase in efficiency with VR/AR compared to 23% of other companies. Besides, the top learning priorities for high-consequence industries in 2017 include: Data analytics (50%), Virtual classrooms (43%), mobile delivery (39%), collaborative tools (37%), games/simulation (30%), physical classroom technology (21%), MOOCs (13%), and AR (12%). 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. Moreover, Intel recognizes the potential of VR for enterprises. While it has not metamorphosed into the ubiquitous technology, we hope it will. On the other hand, as online retail grapples with the scepticism, the brick-and-mortar retailers, especially those in the fashion and apparel industries, have gone all out to implement the VR experience. Please note, that FinancesOnline lists all vendors, we’re not limited only to the ones that pay us, and all software providers have an equal opportunity to get featured in our rankings and comparisons, win awards, gather user reviews, all in our effort to give you reliable advice that will enable you to make well-informed purchase decisions. The VR gaming industry has also recorded an accelerated growth rate, and the penetration has been encouraging. This means the VR market will grow at a CAGR of 33.47% between 2018 and 2024. A smaller set of glasses is also expected to be up for sale the following year. Because of the nature of such jobs and the high costs of mistakes, the simulation permitted by virtual reality makes it a practical solution as it allows them to practice in a safe environment. To kick things off, let’s take a look at the sector’s market size. Related. It’s still early to speculate. Along with the advances of its sister, virtual reality technology, AR is expected to have one billion users by 2020, mainly involving video. Also, by the end of 2019, approximately 45.7% of VR users or 19.6 million people in the US will use VR headsets. It’s only the beginning, but the real-world usefulness of VR has prompted an increasing user base. Research on compelling transformative technologies revealed that virtual reality in retail and marketing segments would generate $1.8 billion in 2022. Until then, leveraging the massive opportunities of this technology will remain elusive. Start a business and design the life you want – all in one place. (eMarketer) That adds up to 13% of the total population. 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. by different review sites shows that these brands dominate the list with their products. You will spend your flights in virtual reality. PC (40%) gaming has the lion’s share, followed closely by Console (33%) and Mobile (27%). It’s a technology that’s here to stay. In 2020, there are 1 billion augmented reality users. Published by Statista Research Department, Nov 24, 2020 The statistic shows the number of the virtual reality (VR) users in China from 2015 to 2017, with a forecast up to 2020. In fact, according to PYMNTS research, virtual reality will generate some $1.8 billion via retail and marketing in 2022. This represents 15.7% and 25.0% of the population, respectively. Don’t wait for someone else to do it. By 2018, Virtual Reality has stepped out and expanded to marketing, retail, military, education, fitness, and healthcare. Moreover, organizations have implemented AR (45%) more than VR (36%). Who knows? As contact is cut off from the rest of the world, many companies are adopting virtual reality tech for distance training, meetings, and even to provide customer service. 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. Q4 2020 Digital Video Trends. In terms of global implementation, China leads the way at 51%, followed closely by France (43%), US (42%), UK (33%, and Germany (23%). More and more US residents are also expected to start using VR more frequently. Besides, the VR market will grow from $7.9 billion in 2018 to $44.7 billion by 2024. This is a significant amount. Ford uses VR to boost employee safety and productivity. Report. However, he also provides in-depth reviews on a wide range of software solutions to help businesses find suitable options for them. Mobile augmented reality hit a user base of 900 million in 2019 and is projected to surpass 3.5 billion by 2022. Report. Additionally, by 2021, 46.4% of VR users or 7.9% of US consumers will use VR headsets. As more and more people in the US purchase VR sets, usage can be expected to increase along with it. Virtual reality is pretty much as its name suggests. However, there are flashes of its outsized potential to streamline operations in retail, ecommerce, nongaming entertainment, employee development, manufacturing, and medical training. Chart. Virtual reality is being used by Tyne and Wear Metro drivers to test a new fleet of trains in a Covid-secure way. Sectors that have seen widespread adoption of and increased demand for VR include gaming and entertainment (Grand View Research, 2019). In addition, the use of VR technology to build online virtual change rooms can help retailers improve conversion rates by more than 6.4%, increase order value by 1.6%, reduce fulfillment costs by 5%, and lower returns by 5.2%. The truth is, the role of virtual reality is hard to define but healthcare is one of the major adopters of this technology which can help with skills training, treatment for phobia and even surgery simulation. Since 1993, IEEE VR has presented groundbreaking research and accomplishments by virtual reality pioneers: scientists, engineers, designers, and artists, paving the way for the future. 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. No spam. The statistics above have shown that VR is still widely considered an entertainment or gamer technology. US Virtual and Augmented Reality Users 2020. The use of VR in business is set to snowball and outpace its use for leisure. This accounts for 15.7% and 25% of the total US population. At 10% Sony PlayStation VR is the device most gamers are likely to buy, followed by Samsung Gear VR (9%), Oculus Rift (8%), Google Cardboard (6%), and HTC Vive. In fact, since its inception, virtual reality has been a slow burner, and the one dimensional progressed offered no reassurance. Together, the US and China will be responsible for 58 percent of the global investment into VR. As contact is cut off from the rest of the world, many companies are adopting virtual reality tech for distance training, meetings, and even to provide. If you’re looking for answers to these questions and more, you’ve come to the right place. This marks a 20.9 percent increase from 2019’s 43.1 million. The clunky VR simulations of the early days opened the doors to unique VR options. We anticipate that 52.1 million people will use VR and 83.1 million will use AR at least once per month in 2020. Virtual Reality is set to revolutionise the Healthcare industry. How many people in the US will use virtual and augmented reality in 2020? Besides, the global VR gaming market size will reach $22.9 billion by 2020. In 2017, a technician training survey found that 85% of trainees preferred VR training to traditional methods. So what can be garnered from all the big numbers? Sony, Samsung Electronics, Google, Microsoft, HTC, Oculus (owned by Facebook), Eon Reality, and a few others (MarketsandMarkets, 2020). This environment is perceived through a device known as a Virtual Reality headset or helmet. VR is also particularly popular in the education sector, which includes the use of it to train doctors and aircraft pilots. video games) and education (e.g. The North American retail and marketing VR space will be worth approximately $455 million, by 2022. As we’ll see in the next statistic, this growing popularity of VR is likely to continue at least for another few more years. Mainly, instore retailers are determined to use VR technology to repress the home-try-on effect, which has been a vexing problem. Copyright © 2021 FinancesOnline. Most users are also happy with the experience, with 55 percent of them saying they’re either extremely or moderately satisfied. From 2020 to 2027, the compound annual growth rate of the virtual reality market is 21.6 percent (Grand View Research, 2020). The global virtual reality software market size will reach $6.4 billion by 2022. When it comes to the top legal risks when developing VR and AR technology, the following top the list: Data security (44%) is the biggest concern, health & safety/product liability issues (42%), intellectual property infringement (40%), compliance with platform’s specifications in publishing content (38%), Technology and IP licensing (30%), and export control issues (6%). Statistic Brain claims there are expected to be 82 million virtual reality headsets in use by 2020. Augmented reality is a technology, which uses the existing user’s environment and overlays the digital or virtual content or information over it to offer immersive digital experience in real-time environment. 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. Most interestingly, 53% of consumers are most likely to buy from brands that offer VR experiences. Although there is no evidence that this immersive technology has gone mainstream, the statistics above point to a changing landscape. From growth figures to virtual reality future predictions on the global economy, we’ve got you covered. This then begs the question: What are some of the key drivers behind such impressive growth? AR revenues will surpass VR revenues in 2020. It is a digitally created, three-dimensional environment generated using advanced computer technology. Stay on topic. 4. Though VR investments are expected from a multitude of countries worldwide, there are a select few that will be leading the pack. Experts also expect virtual reality to bring about economic advantages. Between 2020 and 2027, the compound annual growth rate of the market is expected to come in at. The VR market size is forecast to reach $92.31 billion in 2027 (Grand View Research, 2020). 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. by Nick Kolakowski March 25, 2020 6 min read. That’s it for the most important virtual reality statistics of 2020. Augmented and Virtual Reality Market Outlook - 2025. Sam Machkovech - Feb 12, 2020 11:45 am UTC 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. There are barriers to virtual reality entry. The barrier to VR use is still particularly troublesome to overcome. Finally, the dawn seems to be at hand, and the roller coaster-like hype series has giving birth to real VR experiences. As it stands, 26 million of these devices are currently owned by private consumers. This is more than three times the $6.1 billion market size registered as recently as 2016. (Source: Statista) 51% Of The U.S. Population Is Aware Of Virtual Reality Devices American awareness of virtual reality and augmented reality devices nearly doubled between 2016 and 2017. In 2018, the share of global VR/AR use cases was as follows, consumer hardware (15.60%), VR games (6.6%), AR games (5.1%), online assembly and safety (3.1%), retail showcasing (2.9%, and others 66.6%). However, all is not gloom and doom, and business should endeavor to break the barriers of VR adoption to keep pace with consumer interests. However, as statistics have shown, the barriers are breakable, and someday, the envisioned future of VR will be at your doorstep. See All. At Visualise, we’ve worked with some of the biggest names in the medical & pharmaceutical industries to create a range of VR experiences. Rely on our Market Intelligence platform to get the latest trends on the Virtual Reality Industry and anticipate the future of the sector. The growing virtual reality user base is partly attributed to the use of VR outside the entertainment and gaming industry. Of these HMDs, 22.7 million will be standalone HMDs, 15.9 million mobile HMDs, and 2.6 million PC-based HMDs. 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. 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. According to Statista projections, the VR market in the Middle East and North American region will reach $6 billion. 10 Key Digital Trends for 2021. Leading tech company Apple, for example, already has a headset in the works, which they’re planning on launching sometime in 2022. Today, employees in the highrisk fields and heavy industries like oil and gas, construction, and manufacturing are getting the opportunity to test the waters of the virtual world. Keep it clean. 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. 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. For consumers, VR literally expands the edges of … According to the latest estimates, as many as 5.5 million units are set to be further shipped to customers worldwide in 2020 (Statista, 2020). For example, there is a need to imbue VR technology with control and convenience, implement sound user experience design, and counter the rising smartphone competition. Be nice. Given its advancements over recent years, it’s probably safe to say that it’s only a matter of time before virtual reality takes over our lives. 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. 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. The number of installed virtual reality headsets is estimated to grow to 37 million by 2020. 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. The statistics below affirm its growing influence. 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. Since content encourages repeat use, which is one of the biggest factors of success, this is good news for the VR market. More importantly, by 2020, mobile virtual reality HMDs will account for 75% of the worldwide VR display sales. This means that VR market value will grow at a CAGR of 33.95% during the forecast period. . That exposure will push the movement forward for VR as a consumer product and as an industry in 2020.” Follow Michael on Twitter @ARinsider It’s true that, for long, consumers have been hesitant about embracing VR technology. The short answer is no. Telepresence solutions. (19 percent) of US consumers have used VR in 2020—a three percentage point increase from 16 percent in 2019 (AR Insider, 2020). Asian giant China is at the top of this list, with an expenditure forecast of. It might not … On the other hand, Statista projected that the VR software market could be worth $25 billion by 2020. However, its time businesses trashed the fear they have about implementing this technology. As it stands, there is evidence of the use of VR for furniture and room design shopping. 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