Research Summary. Augmented and virtual reality technology has become increasingly accessible and widely used over the past few years and only seems to be growing in popularity. Here are the key AR and VR statistics:

• The global VR market is projected to reach $26.9 billion by 2027.

• There are 65.9 million VR users in the U.S., which is 15% of the country’s population.

• There are 110.1 million AR users in the U.S.

• There are over 171 million VR users worldwide.

• The VR industry market size is $7.72 billion.

• 47% of Americans say they are familiar with VR.

For further analysis, we broke down the data in the following ways:Companies | Devices | Trends and Projections

Virtual Reality Statistics by Users

• As of 2023, there are 65.9 million VR users and 110.1 million AR users in the U.S.

  

• There are an estimated 171 million VR users worldwide.

• As of 2022, the VR gaming industry has a market size of $12.13 billion.

• 25- to 34-year-olds account for 23% of VR/AR device users.

• The top barrier to VR adoption is that it’s too expensive, with 55% of survey respondents listing this as their hesitation.

• 57% of VR or AR device owners are male, while 43% are female.

• 69% of those who intend to purchase an AR or VR device are male, while only 31% of those intending to make such a purchase are female.

Virtual Reality Statistics by Companies

• As of 2019, Sony holds the largest percentage of the VR market at 36.7%.

  This is down from the 43% it held in 2018. Oculus, owned by Meta, is catching up quickly, as the percentage of shipments it holds increased from 19.4% in 2018 to 28.3% in 2019.

  Other companies with high shares of the VR market include HTC and Microsoft.

  

• 75% of industrial companies that have implemented large-scale VR and AR technologies saw a 10% increase in operations.

  This results in millions to hundreds of millions of dollars that these companies are saving or earning.

  The sectors where AR and VR technology has been this beneficial include:

  • Automotive Manufacturing and Repair

  • Transportation

  • Oil and Gas

  • Aircraft Manufacturing

• The number of U.S. jobs that use AR or VR is projected to reach 2.32 million in 2030.

  This is a dramatic increase from the 80,000 American jobs that used or were enhanced by VR or AR technology in 2019.

Virtual Reality Statistics by Devices

• It was estimated that 6.1 million VR headsets would be sold in 2021.

  This would mean that there would be a total of 16.44 million VR headsets in use around the world.

• The number of VR users in the U.S. has increased from 22.5 million in 2017 to 50.2 million in 2020.

  This number is projected to reach 65.9 million by 2023.

  In addition, the number of AR users in the U.S. has increased from 37.6 million in 2017 to 83.7 million in 2020, and it is projected to hit 110.1 million in 2023.

• The Oculus Quest 2 was the top-selling VR headset at the end of 2020, with over one million units sold.

  In comparison, PlayStation’s VR headset sold 125,000 units at the end of 2020.

Virtual Reality Statistics by Trends and Projections

• VR gaming revenue is expected to reach $2.4 billion in 2024.

  This is a sharp increase from the $0.8 billion in revenue the global industry earned in 2019.

  

• 47% of Americans are at least somewhat familiar with VR, up from 41% who said the same just three months earlier.

  The remaining 53% say they’d never heard of VR before the survey or that they know of VR, but not much more than that.

  In comparison, 18% say they’ve followed it for years and know it well or would almost call themselves experts.

  These numbers were collected in November 2019 and are up from the 41% who said they were at least somewhat familiar with VR in August 2019, showing that the amount of awareness is going up quickly.

• The global VR market is worth $7.72 billion.

  This statistic is for 2020, and the market is expected to reach $26.9 billion in value by 2027. In 2016, the market was worth about $2.02 billion.

• The VR market size is expected to have a CAGR of 19% from 2021 to 2027.

  This is based on expectations that the global market value will increase from $7.7 billion in 2020 to $26.9 billion in 2027.

• Worldwide spending on AR and VR technology is expected to reach $72.8 billion in 2024.

  This is up from the approximately $12 billion spent on AR and VR in 2020 and creates a five-year CAGR of 54%.

  It’s predicted that commercial AR and VR purchases will add up to about $10.9 billion, while consumer spending will amount to $17.6 billion in 2024.

Virtual Reality Statistics FAQ

1. What country spends the most on VR?

   China spends the most on VR. In 2020, China’s AR and VR purchases accounted for more than half of the $12 billion spent on this technology worldwide that year.

   Of the estimated $72.8 billion projected to be spent on AR and VR in 2024, China is expected to account for 36% of that.

   However, the U.S. and Western Europe are close behind China and are expected to start catching up by 2024, thanks to five-year CAGRs of 75.1% and 72.8%, respectively.

2. How many people are using VR today?

   There are over 171 million people using VR today. In the U.S. alone, there are 50.2 million VR users. This is about 15% of the U.S. population.

   However, there are even more AR users in the U.S., with 83.7 using this technology.

3. How big is the market for VR?

   The market for VR is $7.72 billion. This global market value is up significantly from 2016, when it was worth just over $2 billion, and it’s expected to keep growing. Experts predict that it will be worth almost $27 billion by 2027, which would be a CAGR of about 19% from 2021 to 2027.

4. Is VR growing in popularity?

   Yes, VR is growing in popularity. In 2017, there were just 22 million VR users in the U.S., and by 2020 there were 50.2 million users. This number is expected to continue to grow and reach just under 70 million by 2023.

   In addition, worldwide spending on AR and VR technology is expected to grow from $12 billion in 2020 to $73 billion in 2024.

Conclusion

Virtual reality and augmented reality technology are no longer considered unattainable, as there are over 171 million VR users around the world and over 50 million in the U.S. alone. AR is even more commonplace in the U.S. and has 83.7 million users.

In addition, 47% of Americans say they’re at least somewhat familiar with VR as a concept, and this percentage is only continuing to increase.

Most people think of gaming when they think of AR, and this is understandable, as the VR gaming industry is worth $1.1 billion. Currently, the global VR market as a whole is worth $7.72 billion and is expected to reach $26.9 billion by 2027.

VR and AR are also used in professional settings, as there are currently 80,000 jobs in the U.S. that employ this technology, and this is projected to reach 2.32 million by 2030. Companies are eager to implement it, as 75% of those who use AR and VR on a large scale see at least a 10% increase in operations.

References

1. Statista. “Number of Virtual Reality (VR) and Augmented Reality (AR) Users in the United States From 2017 to 2023.” Accessed on February 1, 2022.

2. Statista. “Forecast for the Number of Active Virtual Reality Users Worldwide From 2014 to 2018.” Accessed on February 1, 2022.

3. Statista. “Virtual Reality (VR) Gaming Revenue Worldwide From 2017 to 2024.” Accessed on February 1, 2022.

4. Statista. “Virtual Reality (VR) and Augmented Reality (AR) Device Ownership and Purchase Intent Among Consumers in the United States as of 1st Quarter 2017, by Age Group.” Accessed on February 1, 2022.

5. Statista. “Familiarity With VR Increases but Cost Remains a Hurdle.” Accessed on February 1, 2022.

6. Statista. “Virtual Reality (VR) and Augmented Reality (AR) Device Ownership and Purchase Intent Among Consumers in the United States as of 1st Quarter 2017, by Gender.” Accessed on February 1, 2022.

7. Statista. “Estimated VR Device Shipment Share by Vendor Worldwide in 2018 and 2019.” Accessed on February 1, 2022.

8. NIX United. “Uses of Virtual and Augmented Reality by Industrial Companies.” Accessed on February 1, 2022.

9. Statista. “Number of Jobs Enhanced by Augmented Reality (AR) and Virtual Reality (VR) in the United States From 2019 to 2030.” Accessed on February 1, 2022.

10. Statista. “Virtual Reality (VR) Headset Unit Sales Worldwide From 2019 to 2024.” Accessed on February 1, 2022.

11. Statista. “Virtual Reality (VR) Headset Unit Sales Worldwide in 4th Quarter 2019 and 4th Quarter 2020, by Device.” Accessed on February 1, 2022.

12. PR Newswire. “Virtual Reality (VR) Market Size is Projected To Reach USD 26860 Million By 2027 at a CAGR of 19.0% – Valuates Reports.” Accessed on February 1, 2022.

13. Globe Newswire. “2016 Virtual Reality (VR) Market Size Revenue To Grow by USD 26.89 Billion in 2022.” Accessed on February 1, 2022.

14. IDC. “Worldwide Spending on Augmented and Virtual Reality Forecast To Deliver Strong Growth Through 2024, According to a New IDC Spending Guide.” Accessed on February 1, 2022.