Global consumer virtual reality market size 2016-2023

The consumer virtual reality market, divided into hardware and software segments, is forecast to reach 2.6 billion U.S. dollars in size in 2020 worldwide, a decrease of 0.7 billion U.S. dollars from the previous year, due to the nagative economic impact brought about by the coronavirus (COVID-19) pandemic. For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.

Virtual reality

Virtual reality (VR) technology makes use of sensory devices to immerse users in a simulated environment. Specially designed headsets and glasses can be used for visual immersion, while handhelds and wearables offer tactile immersion. Optical devices such Facebook’s Oculus Rift and Sony’s PlayStation Virtual Reality have shipped millions of units as consumers look to explore the possibilities offered by virtual environments. The element of complete immersion means that VR devices can be used as tools for education, tourism, entertainment, and even professional tasks such as architecture design.

Augmented reality

Augmented reality (AR) is a technology closely related to VR that uses devices to change the visual environment of users. Rather than completely immerse the user in a simulated environment like VR, AR superimposes computer generated elements on top of the user’s real-world environment, allowing for applications such as head-up displays and first-person GPS navigation.

Consumer virtual reality software and hardware market size worldwide from 2016 to 2023

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Source

Release date

April 2020

Region

Worldwide

Survey time period

2016 to 2020

Supplementary notes

*Forecast

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Statistics on "Virtual Reality (VR)"

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