The Biggest VR Companies: Stats and Facts The future, as they say, is now, and VR has already proved to be an integral part of our society. From new job openings and faster employee training to more efficient workers and improved product development. Nearly all industries will see some benefits from the widespread application of VR tech in the future, the experts at PwC claim. VR is expected to add $1.5 trillion to the global economy by 2030. These countries have already positioned themselves as the leaders, producing and shipping millions of VR devices every year. The researchers predict this market will be worth $244 billion by 2028, with China, India, South Korea, and Japan leading the growth. Asia-Pacific is the fastest-growing VR market at a CAGR of 51.4%.Īmong all markets, the Asia-Pacific region showed the biggest interest in virtual reality hardware and related products. Some of the predictions go as high as a $20 billion market share within the next three years. Like other markets, the old continent is expected to show an increased interest in this technology. Right now, Europe accounts for roughly 10% of the global virtual reality market share. On the other side of the Atlantic ocean, virtual and augmented reality headsets and games are selling slightly slower.
The European VR and AR markets combined are worth $2.8 billion. The rest of this decade looks exciting for the American VR crowd, as analysts predict this market will grow by 14.4% CAGR. After all, that’s where many of the biggest developers and manufacturers are situated, alongside hundreds of millions of potential consumers. The US VR market is worth $4.6 billion.įocusing on individual segments of the VR market, it’s clear that the US is one of the most important players in this industry. This means that, if the CAGR continues at 15%, the value of the whole XR market is expected to hit $250 billion by 2028.
Experts predict it will grow even faster in the upcoming years. Virtual reality has come a long way in just a few years and the data on VR is looking impressive. According to recent reports, the market hit close to $28 billion at the end of 2021, with virtual reality products accounting for $21.83 billion of the gross sum. We can’t really discuss virtual reality and its worth without mentioning some facts about augmented and mixed reality - the other two parts of the so-called XR ecosystem. The VR, AR, and MR market is worth $27.96 billion. Here’s what the market currently looks like, along with some projections. In addition, the demand for high-quality content and the need for a better user experience are expected to drive the market further. The increasing number of startups and growing investments by major companies are fueling the market growth.
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