Virtual reality (VR) is a simulated experience that is comparable to the actual world. VR aspires to provide the user with a sensory experience that includes hearing, smell, sight, taste, and touch.

The industry as a whole is rapidly expanding since its start in 2016. The global VR market is expected to grow from less than five billion dollars in 2021 to nearly 13 billion dollars in 2024. 

This article discusses all the important statistics and FAQs for Virtual Reality devices. 

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The global virtual reality market is predicted to reach USD 28.42 billion in 2022, up from USD 21.83 billion in 2021. The global Virtual Reality (VR) market is expected to grow at a CAGR of 19.0 percent between 2021 and 2026, from USD 6.6 billion in 2020 to USD 7.9 billion in 2026.

The global virtual reality in the gaming market is predicted to develop at a compound annual growth rate (CAGR) of 29.2 percent from $9.39 billion in 2021 to $12.13 billion in 2022. 

The reversal in the VR gaming market growth tendency is primarily due to enterprises stabilizing their output after responding to demand that increased dramatically during the COVID-19 pandemic in 2020. At a CAGR of 29 percent, the market is estimated to reach $33.65 billion in 2026.

According to industry research, Virtual reality (VR) headset sales are expected to increase by 43.6 percent year on year to 15.73 million units in 2022.
Is the VR industry growing?
In 2020, the VR industry was valued at $15.81 billion. In 2021, the industry grew to a market size of $21.89 billion; an increase of 42.9%. Further growth of 29.8% is expected in 2022, totaling the value of $28.42 billion. The VR industry will continue to grow in the coming years.

What are the most popular Apps on Oculus?
Oculus has a separate section for paid and free apps. First steps for Oculus Quest 2 is the first and highest rated app with a rating of 4.77 by a total of 791 users. Other top free apps are Oculus first contact, Echo VR, Goliath: Playing with Reality. The top paid apps on Oculus are Puzzling Places, The Room VR: A Dark Matter, I Expect You To Die 2, Walkabout Mini Golf. 

What TV apps are on Oculus?
Oculus TV allows users to watch TV and entertainment shows on VR. Facebook Watch, Pluto TV, and Red Bull TV apps are on Oculus TV. Besides the TV apps, users can watch Netflix, Prime Video VR, ESPN, etc from Oculus TV.

How many apps are there for Oculus?
The apps on Oculus allow users to play games, watch entertainment, and experience Virtual Reality in many different scenarios. The Oculus platform has over 1000 apps for users to explore and manage their VR devices. 

Do you need a Facebook account to use Oculus Quest 2?
At present, Oculus Quest 2 requires a user to have a Facebook account to operate Oculus headsets. Meta is working on alternative log-in options for users to operate Oculus and Oculus quest 2 headsets. 

Can I watch Netflix on Oculus Quest 2?
The Oculus app store has a Netflix VR app so you can watch Netflix on your Oculus Quest 2 headset.  

Who is Oculus owned by?
Oculus is owned by Facebook, currently Meta. Oculus name has recently dropped due to the rebranding of the Facebook company.

What is the most sold VR headset?
Meta’s Oculus Quest 2 is currently the most sold VR headset of 2021. The company has reportedly sold a total of 8.7 million headsets.

How many GB is the Oculus Quest?  
The Oculus Quest 2 headset has two options of storage for users. Users can buy either 128GB or 256GB Oculus Quest 2 headsets.  

How many meta quests have been sold?
By the end of 2021, Meta has sold a total of 8.7 million units of Meta’s Oculus Quest 2. 

What are the future trends in virtual reality?
By 2025, the VR market will reach 161.1 billion in revenue by 2025. Virtual Reality is expected to increase significantly in the next five years, according to various market surveys. The VR and AR market will reach 15.5 billion euros by 2022, according to the IDC study. AR and VR spending would reach $18.8 billion in 2020, up 78.5 percent from $10.5 billion the previous year, with a five-year annual growth rate (CAGR) of 77.0 percent through 2023.   

Is virtual reality the future of marketing?
A section of the VR industry's most important income generators will be ad expenditure, e-commerce deals, and gear sales. With the ability to bend the rules of reality in Virtual Space, industry experts are expecting VR to be the future of marketing.  

What industries are currently benefiting from VR?
As the VR is coming to the mainstream, currently these industries are benefiting from VR:

Is virtual reality profitable?
From 2022 to 2030, the global virtual reality market is predicted to develop at a compound yearly growth rate of 15.0 percent, reaching USD 87.00 billion. 

How fast is VR growing?
The VR industry as a whole is rapidly expanding, with the global VR market expected to grow from less than five billion dollars in 2021 to more than 12 billion dollars in 2024.

Does Xbox have VR?
Xbox and Oculus are compatible. Oculus is the most compatible VR headset with Xbox consoles of all the VR headsets on the market today. The headset comes with an Xbox One controller and an Xbox wireless adaptor designed specifically for Windows.

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Virtual Reality Market Size 2022

That is all for the significant statistics and facts about the Virtual Reality Market. The Virtual Reality market is expected to be mainstream within 3-4 years. We will be waiting for you to answer any further questions you have. 

Virtual Reality Market Growth (2022)

Virtual Reality Market Growth (2022)

Virtual Reality Market Size 2022

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Virtual Reality Market Growth (2022)

Virtual Reality Market Growth (2022)

Virtual Reality Market Size 2022

Conclusion

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