AR and VR Market Statistics
- According to the Augmented Reality and Virtual Reality Market report, AR and VR market is estimated to project a compound annual growth rate (CAGR) of 42.5% in 2030.
It is further estimated that the AR and VR market could reach over USD 1,247.2 Billion by 2030, showing significant growth from USD 36.7 Billion in 2019.
- The Virtual Reality Market Size, Share and Trends Analysis Report shows that the VR market had a global value of $28.41 billion in 2022.
The report also estimates a CAGR of 13.8% for the VR market from 2023 to 2030. This indicates a promising and steady growth in the following years.
- In 2022, the hardware segment dominated the market, contributing to roughly 65% of the total revenue share, as shown by the Virtual Reality Market Size, Share, and Trends Analysis Report.
Another interesting fact is that the Asia Pacific region held the largest revenue share in 2022 (around 40% of the total revenue).
Virtual Reality User Statistics
- The Beyond Reality report shows that 60% of VR connoisseurs in the US are men.
Conversely, 40% of VR users are women. Of all VR consumers participating in this research, 71% would describe themselves as early adopters of new technologies.
- Statista estimates that the number of VR and AR users could skyrocket to roughly 2,593.00 million by 2027.
Furthermore, user penetration is estimated to reach around 28.8% in 2023 but could jump to 32.6% in 2027.
- As per the Beyond Reality Report, 48% of VR consumers in the US have reported at least one VR experience.
When asked where they had experienced VR, participants reported that 49% of them had experienced it in their household, and 43% claimed to have tried VR at a friend’s house. Similarly, 33% of VR consumers in the US had experienced VR at a video game arcade, whereas 21% claimed to have entered the VR world at a theme park. Only 12% of participants had the opportunity to experience VR at a museum or art gallery.
Source: Beyond Reality Report
- When examining the VR user demographics, we find that in 2018, 34% of people aged 16 to 24 have been using VR. People aged 25 to 34 make up 35% of VR users, according to GWI.
The same resource showcases that roughly 26% of people in the 35-44 age range have experienced VR. If we look at the individuals aged 45 to 54, only 12% of people in this age group have experienced VR. Finally, only 6% of individuals over 55 years old have been exposed to VR technologies.
These figures can confirm what we already know – just like any other emerging technology, VR is predominantly popular among younger generations. Although these figures are destined to change in the future, Gen Z and millennials are the most excited about VR and AR adoption.
VR Motion Sickness Stats
VR motion sickness (or cyber sickness as we call it) is one of the main challenges in the VR industry. Mismatched sensory information, motion tracking delays, and restricted field of view are some of the factors causing nausea and disorientation.
Hardware improvements could solve this issue, but the final solution is unfortunately still out of reach. In 2020, VR HEAVEN conducted research on VR motion sickness, and these are some of the most important conclusions:
- Out of nearly 300 participants, 15.7% experience cyber sickness frequently.
VR HEAVEN’s report showcases that 19.1% of participants occasionally experience VR sickness, whereas 24.9% rarely have these issues. Surprisingly, 42.2% of participants never experienced VR sickness symptoms upon entering virtual reality.
- Out of the total number of women participating in this research, 22.6% claim to have experienced cyber sickness on an occasional basis, in contrast to 13.8% of men.
Around 29% of men reported experiencing cyber sickness rarely, whereas the corresponding percentage for women participating in this research was 20.2. When it comes to experiencing no cyber sickness symptoms at all, approximately 50% of men never had any, while 34.7% of women stated the same.
Age also plays a significant role in cyber sickness. According to VR HEAVEN, older people appear to be more susceptible to cyber sickness.
Source: VR HEAVEN
If we take into consideration that VR is not that popular among older generations, it’s safe to assume that cyber sickness could be one of the factors contributing to poor adoption of VR in older generations. Of course, we could also assume that VR is not that interesting to older generations primarily because it’s associated with entertainment. However, as experts find new solutions to cyber sickness and introduce new VR applications, it’s possible that older generations will be more open to experiencing VR.