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Augmented (AR), virtual reality (VR), and mixed reality (MR) market size 2021-2024

The global augmented reality (AR), virtual reality (VR), and mixed reality (MR) market is forecast to reach 30.7 billion U.S. dollars in 2021, rising to close to 300 billion U.S. dollars by 2024.

What is AR/VR?

AR/VR technology makes use of sensory devices to either virtually modify a user’s environment or completely immerse them in a simulated environment. Virtual reality devices typically consist of specially designed headsets that offer complete visual immersion into a simulated environment, while augmented reality relies on headsets that add virtual elements to a user’s actual environment. In 2020, sales of AR/VR headsets are projected to reach 5.5 million units. When it comes to VR/AR device sales by vendor, Sony’s PlayStation VR and Facebook’s Oculus VR headsets are the major VR headset products being sold on the market now.

VR and gaming

One major use of VR headsets is for gaming, as such devices allow gamers to have a full-immersive experience in the gaming world, be it a fantasy land or the driver’s seat of a racing car. There are different VR gaming headsets including headsets for PC, console and premium mobile devices, as well as standalone devices. In 2019, of the overall VR gaming device shipments, 2.8 million units of standalone VR gaming headsets were shipped worldwide. VR headsets are becoming increasingly popular among gamers, and are considered by 37 percent of surveyed global game developers to be an important platform for future growth.

Augmented (AR), virtual reality (VR), and mixed reality (MR) market size worldwide from 2021 to 2024

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Sources

Release date

February 2021

Region

Worldwide

Survey time period

2021

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Statistics on "Extended reality (XR): AR, VR, and MR in the U.S."

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