Virtual Reality (VR) Statistics 2023 -Market Trends
Virtual Reality (VR) continues to revolutionize various industries and redefine our perception of digital experiences. As we enter 2023, it’s important to stay informed about the latest Virtual Reality Statistics and facts surrounding this exciting technology.
The global virtual reality market is valued at $35B in 2023 and rise to $87B, in 2030.
$35 B
VR headset unit sales are expected to hit 11.2M worldwide in 2023 and rise to 14.31M in 2024.
11.2 M
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Company
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Date
|
Details
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|---|---|---|
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Qualcomm
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Jan-12
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Raised seed funding for the mobile augmented reality startup Blippar
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Google
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Apr-12
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Introduced augmented reality glasses, Google Glass, to the public
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Sony
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Mar-14
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Sony announces Project Morpheus, later renamed PlayStation VR
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HP
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Mar-14
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Launched Aurasma 3.0, an augmented reality platform that it acquired through Autonomy
|
|
Facebook
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Mar-14
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Acquired Oculus, a virtual reality startup, for $2bn
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Samsung
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Sep-14
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Revealed its own head-mounted display, Samsung Gear VR, partnering with Oculus
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Google
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Oct-14
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Invested $542mn in the startup Magic Leap
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Intel
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Apr-15
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Invested in Series A funding for the virtual reality startup WorldViz
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Apple
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May-15
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Reportedly acquired Metaio, an augmented reality software maker
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Disney
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Sep-15
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Led a $65mn funding round in Jaunt, a VR content startup
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Microsoft
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Oct-15
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Acquired Havok, a 3D physics engine used for videogames
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Comcast & Time Warner
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Nov-15
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Participated in a $30.5mn funding round for NextVR, which captures live events in VR
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Apple
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Nov-15
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Acquired Faceshift, a facial recognition capture and animation company
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Fox
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Nov-15
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Acquired minority stake in Osterhout Design Group, a VR/AR HMD maker
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The Rise of VR & AR
According to PwC’s economic impact assessment, virtual reality (VR) and augmented reality (AR) have the potential to significantly boost the global economy by up to $1.5 trillion by 2030. This projection indicates a substantial growth compared to the $46.4 billion recorded in 2019. Virtual reality statistics show how the adoption of VR and AR technology can contribute to economic growth by introducing novel customer experiences, accelerating product development, and enhancing workplace safety measures.
- 2019 – $ 46.4 Billion
- 2025 – $ 476.4 Billion
- 2030 – $ 1.5 Trillion
XTENDED REALITY (XR) MARKET SIZE WORLDWIDE FROM 2021 TO 2026
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XTENDED REALITY (XR) MARKET SIZE WORLWIDE FROM 2021 TO 2026
|
IN BILLION US DOLLARS
|
|---|---|
|
2022
|
29.26
|
|
2023
|
41.22
|
|
2024
|
54.58
|
|
2025
|
77.76
|
|
2026
|
100.77
|
VR Adoption Statistics
- As far as VR/AR and other immersive technologies going mainstream is concerned, 37% of businesses think it will happen in two to five years, 25% within 2 years, 17% in the next 5-8 years, 15% in less than 2 years, and 6% in 8-10 years (Perkins Coie, 2020).
- COVID-19 helped accelerate the CAGRs of AR and VR to 38.1 and 27.9%, respectively (Yahoo Finance, 2020).
- AR accounts for $4.2 billion in revenue in 2021 while VR rakes in $3.5 billion, making AR a bigger avenue for innovation (Business Insider, 2021)
Sectors expected to experience most disruption by immersive technologies
- In 2020, outside of gaming, the sectors that were anticipated to have the most immersive technology (including AR/VR) disruptions are healthcare devices (38%), education (28%), workforce development (24%), manufacturing (21%), automotive (19%), marketing and advertising (16%), logistics/transportation (16%), retail (15%), military (13%), and commercial real estate (13%) (Perkins Coie, 2020).
- 91% of business organizations are already leveraging or planning to adopt VR or AR technology (TechRepublic, 2020).
- The sectors with the biggest VR/AR spending growth from 2020 until 2024 are banking (126.7% CAGR), securities and investments services (106.1% CAGR), and central/federal government (102.5% CAGR) (IDC, 2020).
- The enterprise sector is expected to generate more than 70% of AR/VR revenue through the end of 2022 (Superdata, 2020).
