There are over 130 VR Australian virtual reality companies. Eye-Opening Virtual Reality Statistics The global AR and VR market is expected to grow to $209.2 billion by 2022. Usage of machine learning algorithms in VR Despite being used a lot in the game industry, VR and AR technologies are getting popular in other segments as well. Virtual Reality (VR) is a digitally produced experience that simulates a three-dimensional environment in the real world. Abstract and Figures. Key virtual reality statistics for 2022 The global virtual and augmented reality market is estimated to be $16.8 billion. This marks a 20.9 percent increase from 2019's 43.1 million. Virtual Reality Market Statistics The virtual reality market was valued at $15.81 billion in 2020. The consumer VR market worldwide is set to reach $2.6 billion by the end of 2020. Retrieved from Newzoo; New Gen Apps (2018). Additionally, 15 percent of high performers say their use of virtual reality will increase. ). Virtual reality trends show that 70%-75% of consumers aged 16-44 know about augmented reality. However 8. (Statista) According to Statista's augmented and virtual reality market forecast, this number is rising steady and could potentially reach a staggering $160 billion by 2023. Virtual Reality Market Statistics The combined augmented reality and virtual reality markets were worth $12 billion in 2020 with a massive annual growth rate of 54%, resulting in a projected valuation of $72.8 billion by 2024 (IDC, 2020). ( Forbes, 2018) They launched a range of Virtual Reality experiences in 2016. The benefits of virtual reality in education go beyond academics as well to include cultural competence, the ability to understand another person's culture and valuesan important skill in today's interconnected, global society. Let's go over them together. To most people, virtual reality consists mainly of clever illusions for enhancing computer video games or thickening the plot of science fiction films. ( Forbes, 2018) 28% of people who own VR sets use them daily, 9% say they use their VR sets at least every week, and 19% say it's about once a month. Global VR video gaming revenues reached $22.9B in 2020. 42.9 million people in the US use virtual reality at least once a month. The number has grown up to 43000 in 2016. According to AngelList, tracking startups, at the moment there are 1449 virtual reality startups, with an average of $ 5 . The global AR and VR market is expected to grow to $209.2 billion by 2022; 14 million AR and VR devices are expected to be sold in 2019 In their report on virtual and augmented reality statistics, UK and US market findings showed that 90% of consumers are aware of VR. The global Augmented Reality & Virtual Reality in healthcare market size was valued at USD 2.0 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 27.2% from 2021 to 2028. Gender-wise, only 14.3% of women purchased VR headsets online. Research expert covering the global hardware industry. In an overview about market potentials, Statista GmbH also refers to the American market. Virtual Reality refers to a simulated experience using a three-dimensional computer generated system that immerses the user by emulating a realistic situation. 6 VR & AR Statistics: Shaping the Future of Augmented Reality with Data. Retrieved from New Gen Apps; Pagan Research (n.d.). VR isn't just a sci-fi concept or a strategy for gaming hardware anymore. 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). FIND OUT MORE Ages 14-16 years Globally, VR revenues will surpass $12 billion by 2024: Although VR revenues dipped slightly in 2020 due to COVID-19, demand has picked up and is expected to grow steadily. Global VR video gaming revenues reached $22.9B in 2020. There are more than 171M VR users worldwide. 74% of 1.013 respondents (aged 14-49 years) consider gaming as the most likely field of application, followed by movies and TV, military and adult entertainment. Eye-Opening Virtual Reality Statistics The global AR and VR market is expected to grow to $209.2 billion by 2022. 2020 was the biggest year for VR headset sales yet and the prediction is that 2021 will be even bigger yet with new hardware from Oculus and HP coming out. VR technology also has the potential to assist in training, . This technology allows people to be completely immersed in an interactive adventure. According to the high adoption scenario, both virtual and augmented reality are forecast to amount up to $29.5 billion in 2020 compared to $7.1 billion in 2017. 42.9 million Americans will use virtual reality at least once per month. According to the latest virtual reality statistics, its market size is expected to reach $ 92.31 billion in 2027, marking a compound annual growth rate of 30.2 percent in the seven-year period between 2020. and 2027 (Grand View Research, 2020). Virtual Reality (VR) is a technological interface that allows users to experience computer-generated environments within a controlled setting. Virtual Reality (VR) Statistics 2022 - Market Size, Usage & Trends User Statistics on Virtual Reality Healthcare industry is projected to experience the most disruption by immersive technologies like virtual reality. 20. They desire social engagement like watching videos, playing games with others, communicating, and similar. (vXchnge) While the VR demographics are fairly varied (with around 90% of consumers being aware of it thanks to years of media coverage), only around 65% of people are aware of AR in the US and UK respectively. 47% of Americans are at least somewhat familiar with VR, up from 41% who said the same just three months earlier. Virtual Reality Statistics by Trends and Projections VR gaming revenue is expected to reach $2.4 billion in 2024. About 55% of users are satisfied with VR. The VR/ AR market in healthcare will reach $5.1 billion by 2025. Shi, Du, Lavy, and Zhao (2016) indicated that VR enables real-time interactions of remote stakeholders in the same environment, with a shared immersive walkthrough experience, which can largely. According to The Motley Fool, virtual reality technology is expected to be a $30 billion industry by 2020. [7] Augmented reality awareness levels are higher among men than among women. The Role of Virtual Reality for the Healthcare Industry in 2022 12.5 million VR headsets will be shipped to customers in 2020. The global virtual reality market is expected to top $34 billion by 2023. According to a CNBC 2020 forecast on VR technology, consumers worldwide will own 26 million VR headsets by the end of 2020. Recent developments in Virtual Reality (VR) technology present a tremendous opportunity for the tourism industry. Though a significant portion of the virtual reality market still belongs to the consumer space . More than 400 virtual reality research and industry experts and scholars from all over the . Building a Business Case for Virtual Reality. The global virtual reality market size was valued at USD 21.83 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.0% from 2022 to 2030. With VR, learners can inspect 3D medical models in the details, which can't be reproduced in physical models, or learn to communicate with AI-controlled virtual patients, whose attitude and behavior can be easily altered for different learning purposes (e.g . Augmented Versus Virtual Reality Augmented Reality and Virtual Reality Apps Market is expected to reach multi million by 2028, in valuation to 2021, Over the few years the Augmented Reality and Virtual Reality Apps Market will reach a magnificent spike in CAGR in terms of revenue. The consumer VR market worldwide is set to reach $2.6 billion by the end of 2020. It seems that VR popularity has a lot to do with the satisfaction it delivers to consumers. #18. Source: PwC More than 55% of VR users found the experience extremely or moderately satisfying. Virtual reality makes for more effective theoretical learning of medical students and starting-out healthcare professionals. Only 28% of VR headset owner use them daily, while the other 39% only use them once a week. (Grand View Research) 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. Virtual reality is no longer the stuff of science fictionit's here and it's gaining traction fast. Virtual Reality Training Improves Operating Room Performance. Report is spread across 109 Pages and provides exclusive data, information, vital statistics . General AR/VR Statistics The AR market is worth a purported $3.5 billion AR gaming sensation, Pokemon Go, has been downloaded over 1 billion times 75% of 16-44 year olds are aware of AR/VR technology 88% of medium-sized companies are already using AR to some extent Microsoft's AR glasses (HoloLens) sold more than 50,000 units Retrieved from Pagan Research; Perkins Coie (2019). An important point for virtual reality marketing statistics is that 68.7 million people in the US will use augmented reality technology at least once a month in 2019. A similar result reveals the study by Softonic - 11% believe in virtual travel . With a 2021 market size of more than USD 21 billion, virtual reality is expanding at a steady rate and it's expected to have a compound annual growth rate of 15% within a 10-year period (2022 to 2030). 7. There are more than 171M VR users worldwide. Virtual Reality App Trial Shown to Reduce Common Phobias. 78% of Americans are familiar with VR technology now. Trainees performed 29% faster and made 6x fewer errors than those trained via conventional methods. In SuperData's 2020 study, the worldwide virtual reality software and hardware market was worth $2.6 billion in 2020, with expected growth to $3.7 billion in 2021, $4.6 billion in 2022, and 5.1 billion by 2023. [3] From 2021 to 2028, the compound annual growth rate of the virtual reality market is 18 percent. Technological advancements and digitalization in healthcare, favorable government initiatives, rising healthcare expenditure, growing usage . There are 171 million active VR users in the world. Group's latest Compliance Training Survey found that that 9 percent of high-performing companies currently are deploying virtual reality, compared to 6 percent of other organizations. ( Yulio Technologies, 2018) 77% of virtual reality users want more social engagement. 5. (TracXN) At the beginning of 2022, there was a reported number of 131 virtual reality startups in Australia. Augmented Reality and Virtual Reality Apps Market Analysis Report 2022 Along with Statistics Figures, Forecasts till 2028; Virtual Reality Glove Market 2022 : Latest Industry Trends, Overview of Segments, Opportunities 2028; Metaverse - The Reality Beyond The Fantasy; Virtual Reality: Future of healthcare education True virtual reality creates the illusion of actually being in a difference space. Depictions of virtual reality in Hollywood movies . (Forbes) Top Virtual Reality Statistics (Editor's Choice) The global virtual reality market in 2021 is estimated at $21.83 billion. Source: AR Insider Active VR users in the US [] The 21st China Virtual Reality Conference (ChinaVR 2021), co-sponsored by Chinese Society of Image and Graphics, Chinese Society for Simulation and Chinese Society of Computer Science, was held in Nanchang, Jiangxi Province from October 17 to 20, 2021. Among industries that benefit the most from VR are eCommerce, automotive, and fashion. Virtual Reality User Statistics #17. The following VR statistics below focus on virtual reality hardware devices. Even for people who already own VR headsets, their frequency of use is still quite limited. General Virtual Reality Statistics in Australia 1. As it is, the forecast for 2022 is already a whopping 91.2 percent year-over-year increase. By 2023, VR will reach 25% (approximately 70.2 million) of internet users in the United States. This feature is advantageous for both patients and doctors, especially surgeons.