In terms of AR/VR spending in 2020 by region, China leads the world with $5.8 billion, followed by the US ($5.1 billion), Western Europe ($3.3 billion), and Japan ($1.8 billion).In terms of VR spending by sector, consumer spending leads the way at 53%, followed by distribution and services (15.8%), manufacturing and resources (13.8%), public sector (12.7%), and infrastructure (3.2%) (IDC, 2020).It is projected to reach $77 billion by 2025 (Research and Markets, 2020). In the same research, the augmented reality market was valued at $15.3 billion in 2020 with an annual growth rate of 38.1%.Meanwhile, another report from Research and Markets appraised the virtual reality market at $6.1 billion in 2020 with an annual growth rate of 27.9%, projected to reach $20.9 billion by 2025 (Research and Markets, 2020).
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The global virtual reality software and hardware market size was valued at $2.6 billion in 2020, which will jump to $3.7 billion in 2021, $4.6 billion in 2022, and 5.1 billion by 2023 (SuperData, 2020).The standalone VR HMD owns the largest share of the AR/VR headset market in 2020 at 43.76%, followed by the tethered VR HMD (40.88%), standalone AR HMD (5.82%), VR screenless viewer (5.55%), and the tethered AR HMD (3.49%) (IDC, 2020).As of the second quarter of 2020, the market leaders of virtual reality headsets are Facebook (38.7%), Sony (21.9%), Pico (9.2%), DPVR (8.9%), and HTC (4.9%) (IDC, 2020).The market size of virtual reality HMDs was $5.5 billion in 2019 with a CAGR of 22.3%, projected to reach $18.6 billion by 2026 (Valuates, 2020).The global shipments of virtual and augmented reality headset shipments in 2020 amounted to 5.5 million units and it is projected to reach 11 million in 2021 and 43.5 million by 2025 (Statista, 2020).Virtual Reality Hardware/Software Statistics No breakthrough has been reached yet, but with global brands like IKEA, Audi, DHL, and Airbus adopting the VR experience, the future looks bright.
Besides, there are massive adoption campaigns aimed at encouraging the consumer and enterprise markets to embrace this technology. Today, the speed of growth has not changed, but the expanding VR use cases point to a rapid paradigm shift. In fact, since its inception, virtual reality has been a slow burner, and the one-dimensional progressed offered no reassurance.
The revolutionary technology tantalized, everyone fell in love, but the much-hyped transformative effect never quite arrived. The clunky VR simulations of the early days opened the doors to unique VR options.
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