20 Statistics about VR, AR, XR, and Metaverse that tell us the Future

20 Statistics about VR, AR, XR, and Metaverse you should know in 2022

The simulated environment created by virtual and augmented reality technology has been a significant interest in tech circles for some time now. But if we were to look at the numbers behind this growing industry, it is clear that the tech enthusiasts are not the only ones conforming to this giant innovation. It is said that the market is expected to grow to $209.2 billion by 2022! The predictions for these trends often vary, and it’s unclear what the future holds, but here are some statistics regarding the Metaverse, the virtual, augmented, and extended reality that will help you realize just how big of a deal this is!

Augmented Reality

1.   40 % of customers claim they would pay more for a product they could customize in AR

The online shopping process is very popular, but the biggest pro for traditional in-store shopping is still the ability to see the objects in a real-world environment. With AR, customers exceed this possibility and take it to the comfort of their homes. For an online retailer, this trend means higher margins on existing spending plus a higher quality, with a better hands-on experience for the customers.

2.    A billion people use AR worldwide

This number might seem like a big stretch, but if you think about the number of people using AR daily without even knowing it, like the Snap, Messenger, and Instagram users, the number grows even higher! Since the release of ARKit and ARCore platforms by Apple and Google, tens of thousands of AR apps are being used every day.

3.   The estimated market value for AR by 2024 is 50 billion $

Given that the AR market has the potential to integrate into every corner of the economy, ranging from the automotive industry to fashion, it’s estimated to reach $50 billion by 2024. Facebook is investing heavily in AR future, having recently acquired Scape, an AR company building a digital 3D map of the physical world.

4.    70% of customers aged 16 to 40 are aware of augmented reality

70% of people in the target demographic are aware of AR. Considering that AR was introduced to most customers just a few years ago, this number is outstanding! This level of adoption rate is comparable to the early days of e-commerce.

5.    AR has a remarkable effect on our brain

Some studies reveal that the brain area responsible for encoding memory gets three times the activity from AR content than from the non-AR range. This statistic is quite significant in education and business because it indicates that customers are more engaged with higher levels of emotional intensity.

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Augmented Reality

6.   The VR worldwide market share was $6.1B in 2020

An increase in demand for hardware devices will cause this number to grow rapidly higher, with the VR market reaching USD 20.9 billion by 2025. This means the virtual reality market will reach its peak, emphasizing virtual reality content creation. Demand for virtual reality content will create a new market need for content creation start-ups.

7.   VR video gaming revenues will reach $2.4B in 2024

Statistics for VR showed that for 2021 VR gaming revenue sat at $1.1 billion. For this year, predictions go as far as $1.6 billion in revenue. By 2024, this figure will grow to $2.4 billion.

8.  78% of Americans know about VR technology now

This fact might not seem like a big deal, but it is a remarkable improvement compared to 45% in 2015. It shows that VR has stepped out of just the tech sphere and is slowly becoming a well-known trend among customers. Some other studies claim that this number is even higher, reaching an incredible 90% among consumers in the UK and US.

9.    64% of people who use VR think it has the most significant potential in gaming

According to a virtual reality survey, nearly two-thirds of virtual reality users said they believe gaming is the area that will benefit the most from the implementation of VR technology. Other areas in which the users saw potential are film and TV (52%), sports viewing (42%), classroom education (41%), and social media (38%).

10.   77% of VR users want more social engagement in it

Another VR survey claims that 77% of people who own a VR headset are interested in social interactions with people who also engage in VR. This interest benefits the popular apps that allow users to interact with others in a virtual setting. Besides social interaction, VR users want to play games, watch videos, and communicate the most.

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Extended Reality

11.   The XR market is set to hit a value of $1,005.9 billion by 2030

This number mostly comes from brands trying to connect with consumers more interactively and effectively. Wider adoption of VR and AR in the consumer world is linked with the growing penetration of smartphones and connected devices, increasing collaboration among players, and rising adoption of augmented reality and virtual reality across the globe.

12.   Simple XR innovations like 3D content can increase conversions by 28%

This increase has been noticed on retailer websites, claiming some sources. For example, SAP Direct Mail grew roughly 82% uptake in recipients receiving direct mail when including AR in their campaign.

13. The most substantial spending for XR in customer engagement is predicted to come from the Financial Services Industry

And the rate for this is around 140% in compound annual growth rate! This might be a powerful tool for financial brands to build their connection with their customers. Implementing AR and related XR technologies directly affects the core of an organization’s digital reinvention strategy. And whether the implementation of XR will succeed or not relies on the organization’s infrastructure, data, and cloud capabilities, as well as a clear vision for the design of improved customer and employee experiences, claims IBM.

14.   XR market is expected to register a CAGR of 57.91% over the next five years

Extended reality is considered one of the most emerging technologies since it encompasses immersive technologies, such as augmented reality, virtual reality, mixed reality, and other future realities that may appear. This is the need to reduce the distance between people and create richer visual content.

15.  North America holds the most significant market share when it comes to XR

This trend is primarily due to multiple vendors, including Microsoft and Qualcomm, investing heavily in market innovations. The USA, in particular, has been among the highly innovative Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR) markets, with most of the companies developing these technical advances being based in the US.

Metaverse

16.    The Metaverse may be worth $800 billion by 2024

That’s right, 800 billion dollars. This remarkable phenomenon is due to a surge in interest during the pandemic. This number is up from $47 billion in 2020. This creates an opportunity for several prominent tech companies to expand their reach.

17.    Some estimate the Metaverse will be worth trillions of dollars

When you say something is worth a trillion, it automatically sounds like an exaggeration. Still, given the immense increase in recent years and the massive investments in the Metaverse, like Meta’s Reality Labs segment, which invested $10 billion, the trillion might not be such a stretch. With no exact time frame given, JP Morgan predicted the Metaverse size to be worth $1 trillion, while Goldman Sachs predicts the Metaverse market size will be worth an unprecedented $1-12 trillion.

18.  Virtual shows managed to collect tens of millions of people

Travis Scott decided to make the most out of the pandemic and held a virtual concert that hosted 45.8 million people! But Astronomical was not the only virtual concert pulling such great numbers. The popular online game Fortnite attracted 10.7 million people for its virtual concert. These incredible numbers just show that virtual events will be an item of interest in the future.

19.   Facebook (now Meta) created more than 10,000 jobs based on Metaverse

This social media giant will fill more than 10,000 jobs to support the Metaverse environment during the next five years. Since the company claims that Europe is hugely important for Facebook, the jobs will mainly be based in the EU.

20.   50,000 individual creators have downloaded Nvidia’s Omniverse Beta Version.

Omniverse technology introduced by Nvidia allows industry professionals to master complicated visual engineering designs effortlessly. It also works to connect many design projects and tools. And according to data published by NASDAQ, Nvidia is currently worth more than Intel! The market cap is valued at $251 billion.

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