Virtual reality (VR) is a simulated experience that can be similar to or completely different from the real world. The aim of VR is to create a sensory experience for the user sometimes including sight, touch, hearing, smell, or even taste. The VR industry as a whole is growing at a fast pace, with the market size of consumer virtual reality hardware and software projected to increase from 6.2 billion U.S. dollars in 2019 to more than 16 billion U.S. dollars by 2022.
Currently, standard virtual reality systems use either virtual reality headsets or multi-projected environments to generate realistic sensations that simulate a user's physical presence in a virtual environment. The effect is commonly created by VR headsets consisting of a head-mounted display (HMD) - a wraparound headset which does not allow light or images from the real world to interfere with the virtual one. VR headset suppliers include HTC, Oculus, PlayStation and Valve, with unit shipments of VR devices expected to reach 12.5 million in 2020.
VR gaming and VR video make up the largest consumer use cases for VR technology, with 20.8 billion U.S. dollars expected to be spent in 2023 on these areas alone. However, experts have suggested that the benefits of VR will have an impact upon industry too, with improvements to efficiency a real possibility. As a result, by 2023 it is expected that industrial usage will be three times larger than that of consumers.
Despite this, industry has expressed concerns about certain obstacles to adoption that need to be addressed so that VR technology for business use cases can be more widespread, particularly issues surrounding the user experience. Nevertheless, as the technology improves further, there is no doubt that the use cases of extended reality (XR) technologies, including VR, will widen and develop as businesses realize the full potential.
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In the following 5 chapters, you will quickly find the 29 most important statistics relating to "Virtual reality (VR)".