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Infographic: Virtual Reality stats that every business leader should see

The skepticism is over and virtual reality is ready to shine.

virtual reality, boss magazine

$40.4 Billion

The projected virtual reality software and hardware market is expected to reach $40.4 billion by 2020. That’s a lot of people using a lot of virtual reality technology for a lot of different applications.
1 Billion +

Over one billion people will regularly access virtual reality and AR content by 2020.
IDC predicted last year that the compelling combination of virtual reality and augmented reality content will have a global audience that tops this crazy number by the turn of the next decade.

Those still on the fence won’t be there for long. According to Google’s Consumer Survey conducted last year, more than a third of the adults said that they would give virtual reality a try if given the opportunity. Consumer interest is set to continue pursuing virtual reality as one of the most emerging technologies.

Who will make up the next wave of buyers? Millennials—and lots of them. According to Nielsen, 44 percent of people interested in purchasing virtual reality devices are between the ages of 18 and 34. This generation is one heavily motivated by innovative devices and will play a major role in defining what ‘sticks’.

To satiate the desire to get involved in virtual reality, there are currently 250 virtual reality headsets styles available for purchase on Amazon.
82 million

By all accounts they’re selling well. Statistic Brain claims there are expected to be 82 million virtual reality headsets in use by 2020.

Of all those headsets sold worldwide, approximately 90% are mobile phone based. What does this tell you? Best to make all of your virtual reality applications and content very mobile friendly.

So what can be garnered from all the big numbers? It’s a technology that’s here to stay. It might not have always mirrored the hype, but it’s unquestionably a growing force to be reckoned with. My advice? Don’t be alarmed. Fortunately, it’s not too late to be early. It is however, high time to get started.