US Virtual Reality Market Size (2020–2028)
As a relatively new technology, virtual reality (VR) has so far mostly been used within the gaming and entertainment industries.
However, as its benefits and value become clearer and more consumers begin to demand it and engage with it, its speed of adoption across other sectors (including ecommerce) is set to increase.
How many VR users are there in the US?
|
Year |
Number of VR users |
Annual change |
|
2020 |
50.7 million |
|
|
2021 |
61.5 million |
+21.3% |
|
2022 |
67.9 million |
+10.4% |
|
2023 |
73.3 million |
+8.0% |
|
2024 |
77.0 million |
+5.0% |
|
2025 |
80.6 million |
+4.7% |
|
2026 |
84.3 million |
+4.6% |
|
2027 |
87.8 million |
+4.2% |
|
2028 |
91.3 million |
+4.0% |
VR market growth: 2020–2024
A recent report shows analysts are forecasting virtual reality market growth in the US over the next few years.
As it is, the virtual reality market size has been increasing. In 2020, there were 50.7 million users in the US consuming virtual reality content every month. This number includes non-VR-headset experiences, which can mean anything from experiencing VR with cardboard headsets and viewing 360-degree tours in museums to using Google street view.
Just a year later, the number of VR users in the US rose by 21.3%, to 61.5 million, before rising another 10.4% to 67.9 million in 2022. Last year, the number of VR users in the US grew at a significantly slower rate of 8%, to 73.3 million.
According to the latest VR market growth forecast, an annual increase of 5% is expected in 2024, as the number of users rises to 77 million. From 2020 to 2024, the number of VR users in the US grew by 51.9% overall and at an average annual growth rate of 11.2%.
Virtual reality market forecast: 2025–2028
According to experts’ virtual reality market forecast, there will be 80.6 million monthly users in 2025. This will mark a 4.7 annual increase, slower than the growth rates of the previous years.
The number of monthly VR users is expected to continue increasing—albeit with a slight slowdown in rate—through to at least 2028. Industry analysts’ virtual reality market forecast for the number of VR users in 2028 is 91.3 million, a 4% annual increase. From 2025 to 2028, the number of VR users is set to increase by 10.7 million—or 13.3% overall.
The virtual reality market growth is attributed to technological advancements such as 5G connectivity and developments in artificial intelligence. Both of these factors are likely to make it less costly for suppliers to offer users a smooth and fun VR experience.
VR market growth: beyond gaming
The rising number of VR users is evidence of the technology becoming mainstream across various sectors. It indicates that the adoption and application of VR is slowly extending beyond gaming and branching into industries including education, automotive, and healthcare. In fact, analysts estimate that more than half (52%) of Fortune 500 companies have already either tested or implemented them in their processes.