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10 Statistics That Show Virtual Reality Is The Future

10 Statistics That Show Virtual Reality Is The Future

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10 Virtual Reality Statistics Demonstrating The Industry’s Growth

In 2016, $3.7 billion in global revenue was generated from selling virtual reality software and hardware. By 2020, the virtual reality industry is predicted to generate a total revenue of more than $20 billion. Currently, competition in the virtual reality space is stiff with top players like Google, Facebook, Samsung, and Sony racing to create a form of virtual reality gear that appeals to the masses.

As virtual reality technology has advanced, social media developers have taken to the technology as the next step in online interaction. Augmented reality, a form of virtual reality in which digital elements are superimposed over images of the real world, has become a mainstay of Snapchat and Instagram. Games like Pokemon Go have also surged in popularity, showing the general public’s receptiveness to virtual reality technology.

10 Virtual Reality Statistics To Know

Here we’ve outlined the top virtual reality statistics proving the industry’s growth, illustrating the demographics of its users, and offering insight into where the technology may be headed. As virtual reality develops and becomes increasingly accessible, its popularity is likely to continue to grow rapidly.

1. $20 Billion Is The Total Virtual Reality Industry Revenue To Be Generated By 2020

A recent report analyzed the global revenue generated by the virtual reality industry. In 2016, $3.7 billion in revenue was generated by selling virtual reality hardware and software.

By 2020, the global virtual reality industry is predicted to generate $21.5 billion in revenue, a huge jump of over 4x in just four years.

2. 51% Of The U.S. Population Is Aware Of Virtual Reality Devices

American awareness of virtual reality and augmented reality devices nearly doubled between 2016 and 2017. For a bit of context, 51% of the U.S. population is more than 161M people.

Last year, only 28% of the general U.S. public was aware of virtual reality devices, demonstrating the industry’s potential for growth.

3. 22.4 Million Americans Are Virtual Reality Users

A recent study examined U.S. virtual reality use and found that 22.4 million Americans experience virtual reality at least once a month. It’s predicted that by 2018, the number of U.S. virtual reality users will grow to 36.7 million, over a 60% increase in just one year.

4. Nearly 90% Of All Virtual Reality Headsets Are Mobile Phone-Based

In 2016, 87% of the virtual reality headsets sold worldwide were mobile phone-based, meaning a user’s smartphone mounted into the headset and operated as the screen. Popular mobile phone VR headsets include the Samsung Gear VR and Google Daydream View.

5. 44% Of People Interested In Purchasing Virtual Reality Devices Are Millennials

Young American consumers are most interested in virtual reality devices, and virtual reality is most popular among young males. A recent study found that 69% of U.S. males intend to purchase a VR or AR device, compared to only 31% of females.

Related Post: The 10 Millennial Marketing Statistics Every CMO Must Know

6. 4.3 Million Samsung Virtual Reality Headsets Were Sold In One Year

Currently, Samsung is outpacing all other companies manufacturing virtual reality hardware and software. In 2016, Samsung’s Gear VR, a virtual reality headset sold for USD $39.99, was the best selling virtual reality headset worldwide.

Big brands Google, HTC, and Sony are also selling virtual reality gear, but haven’t seen sales comparable to Samsung.

7. Facebook Spent $2 Million To Acquire Oculus Rift

In 2014, Facebook purchased the virtual reality company Oculus Rift for a self-reported $2 million. Mark Zuckerberg, Facebook co-founder and CEO, commented that “Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow.”

Evidently, Zuckerberg is willing to bet on virtual reality as the next progression of online social interaction.

8. 291 Virtual Reality Headsets Are Currently Available For Purchase On Amazon

As of October 2017, Amazon has 271 products listed under the category “virtual reality headset” that are available for purchase.

The most expensive headset is the GROOVIS Virtual Reality 3D Theater VR Glasses, listed at $799.99. At the other end of the spectrum sits the Dlodlo Glass H1, available for only $4.99.

9. 77% Of Virtual Reality Executives Agree That VR Technology Will Impact The Gaming Industry Most

A 2017 study surveyed top executives in the virtual reality industry and found that 77% agree that VR technology will impact the gaming industry more than any other industry in the next 3 years.

Second to gaming, 36% predict that the technology will most impact the education industry. 27% predict the architecture industry will be most strongly impacted by VR between 2017 and 2020.

Related Post: 9 Mobile App Gaming Statistics That Show Its Immense Growth

10. Only 14% Of Virtual Reality Device Purchases Are Made By Women

A 2016 report surveyed 4 million U.S. consumers and found that females make up only 14.3% of online shoppers who purchased a console game and a virtual reality device.

Interestingly, females account for 44.6% of online shoppers who bought console, mobile, and PC games. It seems that females are interested in gaming, but not necessarily virtual reality yet.

Related Post: The Top 10 Female Gamers On YouTube

Also See Our Posts On:

What Lies Ahead For The Future Of Virtual Reality Advertising?

How To Do Mobile App Marketing With Social Media Influencers

How LG Reached 5M+ Consumers Through Influencer Marketing

10 Top Internet Advertising Statistics Prove The Industry Is Growing (And Going Mobile)

October 31, 2017 By Mediakix Team

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