AR & VR - Worldwide | Statista Market Forecast (2024)

• The AR & VR market is projected to generate revenue of US$40.4bn in 2024.
• This market is expected to grow at an annual rate of 8.97% (CAGR 2024-2029), resulting in a projected market volume of US$62.0bn by 2029.
• The largest market segment within AR & VR market is AR Software, which is expected to reach a market volume of US$13.0bn in 2024.
• The United States is the leading revenue generator in this market, with a projected market volume of US$10,900.0m in 2024.
• in the world, the number of AR & VR market users is expected to reach 3,728.0m users by 2029.
• The user penetration rate is projected to be 52.8% in 2024 and is expected to increase to 56.5% by 2029.
• The average revenue per user (ARPU) is expected to be US$11.9.
• It is important to note that the revenue values mentioned here only account for B2C revenues.
• This means that the displayed market share of B2C covers 55.0% of the total market (B2C & B2B).
• Worldwide, the AR & VR market has seen significant growth, with countries like China and the United States leading the way in terms of innovation and adoption.

Definition:

Augmented reality (AR) and virtual reality (VR) make it possible to combine the real and virtual worlds. AR is generally accessed via mobile phones and primarily relies on lenses. AR effects can be created by using lenses in social media apps, for example. AR is also used for displaying digital 3D objects in our surroundings, e.g., in gaming or eCommerce apps. Meanwhile, VR technology allows users to dive into the virtual world, and, unlike AR technology, it requires a headset device which enables the creation of virtual worlds.

Structure:

The AR & VR market consists of six different markets: AR Advertising, AR Hardware, AR Software, VR Advertising, VR Hardware, and VR Software. AR Advertising covers mobile advertising that is displayed in the most prominent social media apps. AR Hardware comprises AR headsets and glasses. AR Software is divided into three different application types, namely social media, gaming, and eCommerce applications, which can be accessed via the most prominent app stores. VR Advertising covers in-game advertising as well as advertising in VR videos. VR Hardware comprises both tethered head-mounted displays (HMDs) and stand-alone HMD headsets. Lastly, VR Software covers VR games and VR videos, which require headsets.

Additional information:

The market comprises revenues, users, average revenue per user, and penetration rates. Revenues are generated through in-app purchases, advertising spending, and consumer spending on apps, games, and hardware such as headsets or glasses. Sales channel data shows both online and offline revenues, which include VAT. The market only displays B2C revenues and users for the above-mentioned markets and markets; B2B and B2G revenues are not included. Additional definitions for each market can be found on the respective market pages.
Market numbers for VR headsets are also featured in the Consumer Market Insights, namely in the Gaming Equipment market of the Consumer Electronics market. Unlike the VR Hardware market in the Advertising & Media Outlook, the Gaming Equipment market also covers smartphone VR devices.
Key players in the market include companies such as Meta (Oculus VR), Microsoft (HoloLens), Snap Inc. with different lenses, and Nvidia, which offers computing hardware components.
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