Virtual Reality Statistics To Know In 2023 

VR statistics you should know in 2023

Virtual Reality Statistics To Know In 2023 
Virtual RealityInsights

Published: March 23, 2023

Rebekah Carter

Rebekah Carter

Virtual Reality has evolved from a futuristic, science-fiction concept into an everyday technology in the last couple of years. Only a short while ago, few people have ever heard of “virtual reality”. By 2022, the Virtual Reality market was valued at approximately $37 billion. By 2027, experts predict this value will increase to $114.5 billion at a CAGR of 25.3%.  

As digital transformation continues and companies search for new ways to engage their employees, improve collaboration, enhance ideation, and transform the customer experience, virtual reality has exploded into the spotlight. Today, countless new companies are emerging to produce ever-more impressive virtual reality headsets and software experiences. 

The latest virtual reality statistics show that the marketplace has incredible potential. VR has moved beyond the world of gaming and entertainment to become a core technology in countless business and enterprise processes. Let’s take a look at the facts.  

The Evolution of VR: VR Statistics in 2023 

The demand for virtual reality has increased as manufacturers have discovered new ways to create more ergonomic, impactful devices, and software solutions have grown more accessible.  

According to some studies, the number of VR users worldwide grew to around 171 million in 2021. Additionally, many experts believe countless future jobs and processes will rely on VR going forward. A study by McKinsey exploring technology trends from 2022 onwards found that around 63% of companies are now embracing immersive technologies for training purposes. McKinsey also believes that deskless workers, accounting for about 80% of the workforce, will be the greatest AR/VR technology adopters in the years ahead. 

Let’s take a look at some of the top VR statistics for this year.  

  • 88% of people believe VR technologies can improve education: According to one report, 88% of Americans believe VR can help to improve education. 66% say they think immersive technology can help fight social isolation. Moreover, 77% of users say they would consider using VR to see somewhere they haven’t seen before. (Source: ARRIS Composites) 
  • The VR software market is expected to grow to $25.32 billion by 2026: Between 2021 and 2022, the VR software market worldwide grew from a value of $7.8 billion to $9.98 billion, at a CAGR of 27.9%. Going forward, this rapid growth is set to continue, with experts suggesting the software space will be valued at $25.32 billion by 2026. (Source: The Business Research Company 
  • The VR headset market will ship 30 million units by 2026: By 2026, the shipments of AR/VR headsets is expected to increase significantly. IDC believes more than 31 million VR units will be shipping in 2026. This is an increase from only 10 million units shipped to consumers and companies during 2022. (Source: IDC 
  • The VR Gaming market will be worth $53.44 billion by 2028: Although demand for VR has evolved beyond the gaming sector, this landscape is still one of the most exciting areas for the technology. By 2028, VR in the gaming market is set to reach a value of $53.44 billion, representing a 31.4% CAGR. (Source: Fortune Business Insights 
  • 79% of Americans say they’re interested in VR: A report from ARRIS Composites found 79% of Americans say they’re interested in AR, 19% already own a headset, and 29% plan to buy one in the next year. 1 in 4 of the people who have a headset already spend 3 hours using it each week. (Source: ARRIS Composites) 

More Key Stats about Virtual Reality 

Opportunities for the Virtual Reality landscape are on the rise. As interest in the technology has grown, more organisations have begun to emerge throughout the world, producing their own unique VR experiences. According to Mordor Intelligence, there are already more than 950 VR startups in the United States alone.  

  • The economic impact of VR/AR could reach around $1.5 trillion by 2030: PWC believes the total economic impact of AR and VR technologies could amount to around $1.5 trillion by 2030. AR and other immersive devices have the potential to increase revenue by improving productivity, collaboration, and customer service. (Source: PWC 
  • The AR and VR Market will reach a CAGR of 37.8% up to 2030: A comprehensive research report by Market Research Future found that hardware in the AR and VR landscape will reach a projected value of around 3,89,066.4 million by the end of 2030. This represents a CAGR of 37.8% throughout the projected timeframe. (Source: MRFR 
  • The Semi and fully immersive market has the largest market share in the VR landscape: According to Grandview Research, the semi and “fully immersive” segment of the VR industry currently holds the largest market share, with around 80%. (Source: Grandview Research).  
  • VR learning improves focus by four times: According to a PWC study, VR training leads to a 40% improvement in confidence among learners and a 35% improvement in the ability of students to act on what they learned. VR learners were also 4 times more focused during training, completed their training four times faster than classroom learners, and were 3.75 times more connected to the content emotionally. (Source: PWC 
  • The market for VR in healthcare is set to grow to $6.2 billion by 2029: Outside of the gaming and training landscape, healthcare could hold the most potential for VR innovators. The global VR in the healthcare market is projected to grow to $6.2 billion by 2029, with a CAGR of 38.7%. (Source: Fortune Business Insights 
  • In 2024, the VR/AR commercial use case expected to receive the most investment is training: Statista found the areas likely to gain the most investment in the commercial landscape for AR/VR are training and industrial maintenance. $4.1 billion is expected to be invested in both of these fields (Source: Statista 
  • 35% of people say they’d be willing to spend up to $1,000 on VR Gear: According to one report, 35% of survey respondents said they would be happy to spend up to $1,000 on advanced gear for VR, such as haptic gloves or a haptic body suit. However, only 4% say they would spend over $1.5k on the same technology. (Source: Tidio 



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