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How fast is the VR market growing?

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How fast is the VR market growing?

The industry as a whole is growing at a fast pace, with the global VR market size projected to increase from less than five billion U.S. dollars in 2021 to more than 12 billion U.S. dollars by 2024.

How big is the VR market going to get?

Virtual Reality (VR) Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026) The number of global virtual reality device shipments was 13. 48 million units in 2020, and it is expected to reach a volume of 112. 62 million units by 2026, registering a CAGR of 33.

How large will the virtual and augmented reality consumer markets get?

At what rate is the market projected to grow? The augmented reality (AR) and virtual reality (VR) market has the potential to grow by USD 162.71 billion during 2021-2025.

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What industries are currently benefiting from VR?

VR Applications: 21 Industries already using Virtual Reality

  • Automotive industry. VR allows engineers and designers to experiment easily with the look and build of a vehicle before commissioning expensive prototypes.
  • Healthcare.
  • Retail.
  • Tourism.
  • Real estate.
  • Architecture.
  • Gambling.
  • Learning and Development.

Is virtual reality the future?

THE FUTURE OF VIRTUAL REALITY Virtual Reality is one of the technologies with the highest projected potential for growth. According to the latest forecasts from IDC Research (2018), investment in VR and AR will multiply 21-fold over the next four years, reaching 15.5 billion euros by 2022.

Are VR sales growing?

The global virtual reality market size was valued at USD 15.81 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 18.0\% from 2021 to 2028. Thus, the rising adoption of VR across several industries for various applications is fueling the growth of the market.

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Do you think VR will be popular in future?

How much money does virtual reality make?

The research company SuperData Research reports that annual VR revenues in 2018 reached $3.6 billion — higher than the 2018 forecast of $3.3 billion. This represents a 30 percent year-over-year increase in revenues.