Virtual reality (VR) and augmented reality (AR) continue to evolve and are gaining traction among consumers and businesses. Research firm IDC forecast in November 2019 that worldwide spending on VR and AR is on track to reach $18.8 billion this year. However, these two extended reality (XR), immersive technologies are growing at different rates and for different reasons. This report provides our latest forecasts for VR and AR users in the US and examines some market dynamics shaping their maturation.
How many people in the US will use virtual and augmented reality in 2020?
We anticipate that 52.1 million people will use VR and 83.1 million will use AR at least once per month in 2020. This represents 15.7% and 25.0% of the population, respectively.
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Eye-Opening Virtual Reality Statistics
- The global AR and VR market is expected to grow to $209.2 billion by 2022.
- Global VR video gaming revenues are expected to reach $22.9B in 2020.
- There are more than 171M VR users worldwide.
- 78% of Americans are familiar with VR technology now.
- The consumer VR market worldwide is set to reach $2.6 billion by the end of 2020.
- Demand for standalone VR devices will grow over 16 times between 2018 and 2022.
- 70% of VR headset-owning consumers have bought a game on it.
- 14 million AR and VR devices were sold in 2019.
The consumer VR market worldwide is predicted to reach $2.6 billion at the end of this year.
Virtual reality statistics for 2020 show that the coronavirus pandemic has had a negative impact on the VR market worldwide. This year, the consumer virtual reality (both the hardware and software segment) market size is projected to experience a decrease of $0.7 billion, compared to what we had in 2019.
VR/AR devices will see a growing increase in demand over the next few years.
Virtual reality sales statistics show that the number of VR/AR devices shipped worldwide is expected to increase to 68.6 million units in 2023. What’s more, AR and VR headsets are projected to have massive sales of over 30 million units annually by the end of 2023.
VR is gradually gaining ground in e-commerce.
VR stats for 2020 show that the adoption of VR in e-commerce can boost online shopping conversion by 17%. VR experiences can significantly influence the purchasing decision of customers.
80% of consumers feel positive towards experiencing branded VR tactics.
This is great news for marketers. Jaded by conventional forms of advertising, consumers are keen on trying out new formats that allow them to experience brand stories in a more intimate manner. This virtual reality report on marketing shows that the environment is ripe for marketers to move fast to capture audience interest.
20% of consumers say a branded VR experience would make them feel more positively towards the brand.
Only 1% would feel negative about it while the remaining consumers are neutral. If you have an advertising format where 1 in 5 customers are already in your favor for just using that format, it’s your battle to lose. According to the same research, VR also has high word-of-mouth marketability, with 81% of people who had already experienced VR reporting they had told their friends about it.
13% of consumers say VR experiences will cause them to shop more in physical stores.
While more conventional and non-tech-intensive methods like F&B offerings, personalized experiences, and live product demonstrations remain the main draws for customers in physical stores, virtual reality trends show that VR experiences are catching up as a technology investment that business owners can make to encourage customers to spend more.
75% of the World’s Most Valuable Brands have invested in some form of AR/VR experience.
Leading brands are catching up to the potential of VR. The number of these experiences, which could be meant for consumers or employees, is likely to be much higher considering that this data is from a 2015 research.
13% of people who experience a vacation in VR go on to book a trip or get in touch with hospitality companies.
The lifelike rendering of experiences encourages consumers to spend money to experience the real deal, too. Similar virtual reality statistics include:
- A 16% increase in donations to Amnesty International UK’s donations after people experienced conditions in war-torn Syria through VR.
- A 190% increase in Thomas Cook’s VR-promoted New York excursion revenue.
- 51% of Marriott’s customers expressing intent to travel to more hotels in the chain after the company showed VR travel stories from other locations to them.
Did you know that virtual reality has been around for quite some time? It was created in 1968 by computer scientist Ivan Sutherland and his assistant Bob Sproull. And the technology is continuously evolving every day.
While some people are still skeptical about this great innovation, it is actually a tool that can change the way we interact with the world around us.
To Be or Not To Be: Surprising Stats about Virtual Reality
The argument for or against virtual reality has raged on. We stand with virtual reality because we believe it is the future. Here are some surprising statistics about VR that may change your mind about the technology.
VR is the Fastest Growing Technology in the World.
VR is undoubtedly the fastest growing innovative technology in the world. Starting since 1968 as a mere headset, it has grown, expanding its reach and functionality into various fields, ranging from gaming all the way to medicine. VR is now applied in over 19 fields, ranging from health care to the military.
This makes VR a formidable force within technological spheres.
In 2019, more fields were incorporated into the VR sphere, raising its market share to over USD 10 billion. For a market that was almost nowhere to be found in the early 21st century, this is a great achievement. If you won’t say it, we will.
VR is the Future Of Entertainment
The third item on our list of surprising stats about virtual reality has to do with the future of entertainment.
Talk about entertainment today and you can safely say that VR is the future of entertainment. Popular gaming companies like Sony and Microsoft have turned largely to VR to enhance and improve the gaming experience of their customers.
For Sony, its PlayStation IV gaming console is VR enabled. Microsoft is also doing a lot to make VR the norm for its gamers. In 2019, Sony was responsible for over 40 per cent of VR shipments worldwide.
VR doesn’t just serve for gaming but is in use in the movie industry too. Most cinemas now use VR technology to give customers optimal experiences.
VR and a Mobile Users
Majority of VR Users around the World are Mobile Phone Users. Almost 80 Percent of People Using VR in the United States are Mobile Phone User.
This means that VR would likely tend towards private and personal usage as time goes on. With over 170 million active users in the world, a greater percentage of these users, are using the VR services with their mobile phones.
The World is Coming to Terms with VR
Another surprising stat about virtual reality. The current statistics indicate that VR is gradually becoming a household name. It is reported that a whopping 14 million AR and VR devices were purchased worldwide in the year 2019. Also, 70 percent of VR headset users have bought a game on the headset.
A large percentage of Americans are now familiar with VR technology. With America being the seat of world trends, it would not be wrong to predict that the world would be swallowed up in a VR craze anytime soon.
Is The Future VR?
That’s the question that we all have to consider now. But if we follow the statistics, believe that things may maintain this trajectory, it would be safe to say that the future is VR and VR in the future.
Do you have some more surprising stats about virtual reality? Please feel free to add in your comments.