Augmented Reality Statistics: Understanding the Growth and Impact of AR Technology

Augmented Reality Market Set to Surpass $50 Billion by 2024

Augmented reality (AR) is on the rise, with industry analysts projecting the market value to exceed $50 billion by 2024. This significant growth is driven by the increasing popularity of AR games, the proliferation of AR-supported devices, and the growing adoption of AR by businesses worldwide.

Here are some key augmented reality statistics to give you a better understanding of how the technology is evolving:

Top Augmented Reality Statistics

1. In 86% of cases, a smartphone was the first device people used to encounter augmented reality. (Source: Inglobe Technologies)

2. 90% of brand advertisers already employ mixed reality in their marketing campaigns or plan to do so. (Source: BCG)

3. A warehouse employee at GE Healthcare filled a picklist order utilizing AR 46% quicker than the traditional procedure. (Source: Softwebsolutions)

4. Only 1% of retail consumers have integrated AR into their operations. (Source: Gartner)

5. In 2008, the first AR commercial premiered as part of BMW’s MINI campaign. (Source: BMW)

6. 70% of consumers say AR can help with skill development. (Source: ISACA)

7. 52% of retailers believe they need more time to incorporate AR into their platforms. (Source: Harvard Business)

8. In 2020, the global investment in AR/VR was $12 billion. (Source: Statista)

9. The AR gaming sector reached $6.39 billion in worth in 2021. (Source: IMARC)

Augmented Reality Growth Statistics

10. 1.4 billion AR gadget users will be worldwide by the end of 2023. (Source: Statista)

11. The AR market is expected to outperform the VR sector in terms of revenues, according to 70% of technology leaders. (Source: Three Kit)

12. 61% of customers claim they would be more inclined to purchase a product from a company that offers augmented reality experiences. (Source: Harvard Business)

13. By 2024, it is anticipated that the AR market will be worth $50 billion. (Source: Statista)

14. By 2028, the market for AR is anticipated to be worth $1.5 trillion worldwide. (Source: PWCCN)

15. By 2024, 83.1 million AR users will be in the US. (Source: 99Firms)

16. Retail will account for 5% of AR consumption in 2022. (Source: ThreeKit)

17. The AR market will expand at a CAGR of 31.5%, from USD 31.97 billion in 2022 to USD 88.4 billion in 2026. (Source: MarketsandMarkets)

18. 2025 AR is anticipated to produce 23 million new jobs. (Source: Jakarta Globe)

19. By 2025, hardware-based augmented reality advertising will generate $6.7 billion. (Source: Meetanshi)

20. The Virtual Reality and AR industries are expected to generate 23 million jobs globally by 2030, more than Australia’s population. (Source: PwC)

21. By 2024, 1.7 billion AR gadgets will have been sold. (Source: Statista)

22. In 2023, the United States is projected to lead in AR revenue contribution, with a market volume of $8,568.00 million. (Source: MarketSpash)

23. Depending on the degree of the digital economy’s transition into the metaverse, the sector’s market opportunity could range from $3.75 trillion to $12.46 trillion. (Source: Statista)

24. With a combined revenue share of 4.7% to 4.9%, social media, advertising, and telecommunications will likely leverage augmented reality (AR) to increase user engagement, develop immersive ad experiences, and enhance communication services, respectively. (Source: Statista)

Augmented Reality Consumer Statistics

By noting the numerous applications of AR technology, end-users who prefer to use AR form a different group. AR’s appeal cuts across various demographics and sectors, from students to professionals, shoppers to gamers.

Let’s consider some statistics to understand the state of AR users and consumers clearly:

25. Since 2017, There has Been an Increase in Revenue for the B2C AR Advertising Sector. According to Meetanshi, a firm that offers AR solutions, the revenue of the Business-to-Customer AR advertising industry has grown by more than 400% since 2017. This increase is due to factors like the increasing popularity of AR apps like Wayfair and IKEA Place and businesses’ growing adoption of AR innovations. (Source: Meetanshi)

26. The Typical AR User Invests $10 Monthly in AR Applications. AR Becomes a Financial Staple: The Average User Invests $10 per Month in AR Applications, Fostering an Interactive and Engaging Digital Experience. (Source: Artillery Intelligence)

27. By December 2023, Around 1.4 Billion AR Users Should be Global. This Figure is Projected to Rise to 1.73 Billion by 2024. The increase of 0.44 billion users comes from certain factors, such as the growing fame of smartphones, the advancement of more powerful AR software and hardware, and the increasing number of AR-enabled games and apps. (Source: Statista)

28. By 2025, the Automotive Industry’s AR Market is Anticipated to Grow to $2.8 Billion. The Automotive Industry’s AR Market to Surge: Projected $2.8 Billion by 2025, signaling robust growth and tech integration in vehicles. (Source: MarketsandMarkets)

29. Augmented Reality (AR) Takes Over Daily Routines: 74% of Gen Z Users Incorporate it Daily. 70% of consumers use augmented reality (AR) at least once weekly, while 74% of Gen Z users include it in their daily routines. It appears that AR has replaced daily vitamins for Gen Z. (Source: Deloitte)

30. 40% of End-users will Willfully Pay More for Products That Can be Customized in AR. In augmented reality (AR), end customers strongly prefer customized items, with 40% prepared to pay more for such personalized solutions, underlining the possibility for higher sales and client satisfaction. (Source: Forbes)

31. Over 100 Million End-users Shopped Using AR in 2020. According to Gartner research, over 100 million customers shopped with AR in 2020. AR enables brands to customize the shopping experience of their consumers and each end user’s experience with the products. (Source: Gartner)

32. 32% of Consumers Worldwide Use AR for Shopping. With 32% of consumers using AR to improve their shopping experiences and make wiser purchases, this technology proliferates. (Source: Augmania)

33. 91.75% of Gen Z are Interested in Augmented Reality-based Retail. Gen Z is so drawn to AR-based buying for a variety of reasons. First, compared to previous generations, Gen Z is more likely to be familiar with AR technology. Second, Gen Z is more inclined to be open to experimenting with novel technologies. Finally, individualized buying experiences are more likely to appeal to Gen Z. We may anticipate seeing even more Generation Z consumers use augmented reality (AR) for purchasing as the technology develops. With the help of this technology, Gen Z shoppers’ shopping experiences could be transformed, becoming more immersive and educational. (Source: IDC)

34. Advantages of Augmented Reality (AR) at Work for US Customers. The top four advantages of augmented reality (AR) at work for US customers are greater collaboration (72%), increased productivity (69%), new business models/offers (68%), and better marketing (61%). (Source: ISACA)

35. By 2025, the Global Automotive AR/VR Market will be Worth $673 Billion. This is a massive expansion from the anticipated $213 billion market size for 2020. Various factors, such as the rising consumer interest in AR/VR technology, are propelling the expansion of the automotive AR/VR market. The automotive industry’s increased desire for individualized and immersive experiences, the development of suppliers, and automakers’ use of AR/VR technologies. (Source: Statista)

36. There Were 83.1 Million End-users of AR in 2020. According to the report by E-Markter, this figure represents a notable increase from the 2019 figure of 40 million AR users. Many variables, such as the following, are causing AR to increase the popularity of augmented reality apps like IKEA Place and Wayfair. The expansion of devices with AR capabilities, such as smartphones and tablets. The expanding use of AR technology by companies like Walmart and Target. (Source: E-marketer)

37. 7 of 10 End-users Say AR Can Help Them Learn New Skills. Some reasons end-users say AR can help them learn new skills. Consumers think that AR can be beneficial for picking up new skills for various reasons. Secondly, augmented reality (AR) can give students a more engaging and dynamic learning environment. AR can be applied to give students feedback on their development. Thirdly, augmented reality offers learners a context for the subject they are learning in the real world. (Source: ISACA)

38. 67% of Advertising Companies Believe They are Implementing AR More Now. Advertising firms understand that augmented reality sells faster for their brands. Thanks to the adoption of AR innovations, automotive, entertainment, and travel are projected to observe a surge in interest and advantages from implementing AR campaigns. (Source: Vibrant Media)

39. Currently, Over 1 Billion Users Globally Use AR. Following the deployment of Google’s ARCore and Apple’s ARKit platforms, several thousands of AR applications have been used daily by more than 1 billion people. (Source: Augmania)

40. Seven Out of Ten Consumers Between 16 and 44 Years Old are Familiar with AR. This news is exciting because AR just emerged recently, and we can see massive adoption of the tech solution across various industries worldwide. (Source: Leftronic)

41. 16% of Retailers Implement AR in Their Sales Stages. Consumers believe interacting with AR and VR products before making a notable decision can aid buying choices. Interestingly, 3D tech can increase conversion rates by over 40%, offering them more substantial confidence to purchase. (Source: Poplar)

42. In 2023, AR Glasses will Record a Staggering 3.9 Million. Some main factors influencing the growth of AR glasses sales include the cost-effective prices of AR glasses, the enhancement of AR glasses, and the increasing availability of AR content. This makes it easier for AR glasses to appeal to end-users. (Source: Transparency Market)

43. 66% of Japanese Consumers Want Offline Stores to Provide an AR Experience. AR innovation is becoming increasingly adopted across some of the largest markets globally. In Japan, retail stores have integrated in-store AR since 2009 for customers who prefer to have a different experience with the products. (Source: Jesoren)

AR in Gaming Statistics

44. The gaming sector is the fifth-fastest adoption of augmented reality. (Source: Statista)

45. Individuals familiar with the metaverse play video games an additional 1.5 hours a week more than those who do not. (Source: Mckinsey)

46. 35% of mobile game developers create games for select AR/VR platforms. (Source: Statista)

47. The most widely used augmented reality headsets are the Magic Leap One, HoloLens 2, and Nreal Light0. (Source: Statista)

48. 43% of game players are interested in AR sports. (Source: G2 Learning Hub)

49. Over 100 million customers shopped using AR in 2020. (Source: Gartner)

50. Only 1% of retailers use virtual or augmented reality. (Source: Mobile Marketer)

51. In 2019, 2.5 billion gamers globally spent over $152.1 billion on AR-supported games. (Source: Newzoo)

52. AR users prefer gaming. (Source: Intelivita)

53. 25% of customers said they planned to use augmented reality (AR) for their workouts within the next five years. (Source: Erricson)

54. Over 800,000 AR-supported games are available in mobile app stores. (Source: Mediakix)

55. Sales are anticipated to grow at a compound annual growth rate (CAGR) of 7.58% from 2023 to 2027, with a forecasted market size of US$15.51 billion. (Source: Statista)

56. A third of AR players said that holding a mobile device is insufficient for playing AR games. (Source: Snapchat)

57. Almost 75% of the world’s population and nearly all smartphone users will regularly use augmented reality (AR) by 2025, following the pattern of the mobile usage surge we experienced in the middle of the 2000s. (Source: Modul University)

58. 40% of augmented reality (AR) gamers concur that more immersive games and affordable AR glasses will make AR gaming more entertaining. (Source: Erricson)

Final Words

AR has seen significant growth, with the market set to surpass $50 billion by 2024. The statistics above offer insights into the development of AR across various industries and end-user behaviors. AR is transforming digital content in real-time, from entertainment and gaming to retail and education. With an increasing user base and a wide range of AR-enabled devices, AR is becoming more accessible to a broader audience.

FAQs

What is augmented reality? In simple words

AR has to do with enhancing the real physical world with digital sounds, visual elements, and other sensory stimuli.

What is the difference between VR and AR?

The major difference between VR and AR is that while the former involves the virtual world, the latter relies on real-world settings. Also, VR centers on enhancing fictional reality, while AR tries to enhance both worlds.

What are the advantages of AR?

The technology enables users to reduce design, production, and maintenance costs. Also, AR increases the value of brands and products. It also helps to convey the responsiveness and innovative prowess of brands that utilize it.

Stay tuned for more updates on the evolving world of augmented reality!