VR technology has received much attention in a short period and is still accelerating at a rapid rate. It is an immersive experience that can be similar to or totally different from the real world. And this emerging technology indicates a future with screenless communication between the businesses and consumers through VR. Indeed, it will slowly but surely replace the traditional graphic user interface from the storyline if we believe Virtual reality statistics.
Interesting VR Statistics of 2020
As per Statista Research Development, the market size of customer virtual reality hardware & software is expected to increase from 6.2 billion USD in 2019 to 16 billion USD by 2022.
10th Dimension is a leading company for VR Singapore
The use of virtual reality showcased through its statistics as people around the world using AR/VR for both generating revenue and entertainment. Let us take an overview of some jaw-dropping Virtual Reality statistics are-
Today, 171 million people are using VR technology; The combined market of AR/VR is expected to reach $16.8 billion in 2019; VR gaming revenue is forecast to touch $22.9 billion by 2020.
These figures are captivating enough, isn’t it?
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It is imperative to understand the term Virtual Reality before we jump into the statistics list.
VR is a technology that offers the stimulating experience of the digital environment and turns off the physical world. This reality can only be experienced through VR headsets devices like Oculus Rift, Google Daydream or Cardboard, HTC Vive, etc. VR is the more mature technology in comparison with Augmented and Mixed Reality.
Facts & Stats about VR Adoption
Indeed, consumers are well aware of VR technology and its benefits, factors like pricing, lack of resources, and others, prevent them to incorporate the spark of VR into their businesses. However, figures show that once the customer reaches out to VR and implements it, their interest grows. The virtual reality statistics 2020 says:
- VR technology forecast to generate $150 billion in revenue by 2020. (Fortune)
- The market volume of VR is expected to reach 98.4 million sales by the year 2023. (Futuresource)
- 44% of the potential customers interested in buying VR devices belong to 18 to35 years of age. (Yulio Technologies, 2018)
- 65% of the consumers believe pricing is one of the greatest factors in buying a VR headset/device(Singularity Hub)
- 62% of the parents believe that VR offers educational experiences for their kids. (Tech Trends,2018)
- 66% of people are interested in immersive shopping experiences. (AR VR Journey,2018)
VR Usage Statistics
As the VR tech awareness increases, so does its usage. If we pick the US market, where statistics show 22.4 million Americans are already using VR.
- Today, 171 million people use VR technology around the world.
- It is estimated 82 million VR headsets will be used in 2020 as around 11 million VR headsets were shipped in 2016. (Yulio Technology, 2018)
- 77% of Virtual Reality users expect more social engagement. (Forbes)
- Family usage is lower where children are under 18. Only 21% of these families own VR devices.
VR Gaming Statistics
The entertainment and gaming industry is embraced with virtual reality as games and devices enter into the market. Now, the drawing-room of consumers is studded with affordable VR devices like Oculus Rift, HTC Vive, Google Cardboard, etc.
- The global market size of VR gaming is estimated to be 22.9 billion by the end of 2020. (Statista 2018)
- Games earned 55% of VR software revenue in 2017. (SuperData Research,2017)
- The contribution of the mobile VR platform is 15% in-game revenue. (SuperData Research)
- 50% of millennials expressed positive interest in VR connected to a gaming system. (SingularityHub, 2015)
- 70% of users who already have VR headsets bought a game for it.
- Job openings related to VR have increased by 93% in the Gaming sector.
Based on the aforementioned virtual reality statistics 2019, the users can predict the future market scenario. And, implement this technology in business, entertainment, education, healthcare, manufacturing, and so forth to achieve revenue and fame both. VR serves a safe environment where people can socialize, educate, and make a profit. 10th Dimension stands alone in Singapore for AR/VR app development while maintaining the high quality. If you think the future belongs to technology & plan to invest, then let us know.