4 Important Augmented Reality Statistics You Should Know in 2024

Augmented reality (AR) has rapidly gained traction across a variety of industries as businesses recognize its potential to revolutionize customer experiences. While we often discuss AR’s transformative impact on the eCommerce sector, backed by concrete data, it’s important to take a closer look at the numbers driving this innovation. Even if you think you’re familiar with AR, these key statistics might still surprise you with the significant influence AR is having on the global market. By focusing on the data itself, we can better understand how AR is shaping industries and changing the way consumers interact with products and services.

Key Insights

Explosive Growth in the AR/VR Market: The global AR, VR, and MR market is expected to experience substantial growth, increasing from $28 billion in 2021 to over $250 billion by 2028. A significant portion of this growth is driven by the integration of AR in eCommerce, where immersive shopping experiences like virtual try-ons are becoming more popular.
Consumer Spending Leads AR/VR Adoption: In 2020, consumer spending on AR/VR technologies outpaced other sectors, reaching $6.36 billion. This spending covers mobile AR apps, in-app purchases in games like Pokémon Go, and other consumer-driven applications. The rising functionality of smartphones continues to play a crucial role in AR adoption.
Entertainment and Retail Are Major Investors: By 2024, the entertainment and gaming sectors are expected to lead AR/VR investments, with VR gaming projected to reach $17.6 billion. Retail is also benefiting from AR technology, as brands leverage AR to enhance online shopping experiences, proving AR’s long-term value beyond gaming.
Hardware Limitations Remain a Barrier: One of the main challenges for widespread AR/VR adoption is the lack of advanced hardware. As of 2020, 32% of users cited cumbersome devices and technical glitches as deterrents. However, ongoing hardware developments by leading tech companies are expected to alleviate these issues and accelerate adoption.
AR Enhances Customer Relationships and Drives Loyalty: AR solutions offer businesses the ability to create personalized, hyperrealistic product experiences that deepen customer engagement. By integrating AR, companies can strengthen brand loyalty, improve customer satisfaction, and differentiate themselves in competitive markets.

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Top Augmented Reality Statistics

The global augmented reality (AR), virtual reality (VR), and mixed reality (MR) market reached $28 billion in 2021 and is projected to surpass $250 billion by 2028.
In 2020, estimated consumer spending on augmented and virtual reality (AR/VR) technology was approximately 6.36 billion USD.
in 2024, the most important use cases for AR/VR are expected to be VR gaming, VR video/feature, and VR gaming with a market volume of 17.6 billion USD.
32% of AR/VR hardware users say cumbersome devices and frequent technical glitches have distracted them from this technological experience.

How is the AR/VR market around the world shaping up?

According to Statista data, the global augmented reality (AR), virtual reality (VR), and mixed reality (MR) market reached 28 billion USD in 2021 and is expected to exceed 250 billion USD by 2028.

The combination of eCommerce and AR is a key driver behind the expected global growth of AR technology. Many businesses are now incorporating AR into their sales and marketing strategies, allowing customers to enjoy personalized, hyper-realistic experiences like virtual try-ons. This not only enhances the shopping experience but also strengthens customer relationships, leading to increased brand loyalty. With AR, businesses are creating success stories by offering more engaging and memorable interactions.

How does AR/VR spending of businesses vary by segment?

According to Statista data, in 2020, estimated consumer spending on augmented and virtual reality (AR/VR) technology was approximately 6.36 billion USD, compared to around 2 billion USD for the distribution and services sector. In the chart, the distribution and services sector was followed by manufacturing and resources with a share of 1.66 billion USD. The graph continues with the public sector segments with 1.52 billion USD, infrastructure with 0.38 billion USD, and others with 0.19 billion USD.

Consumer AR spending primarily includes all mobile AR apps and paid experiences. This doesn’t include AR services offered by businesses for online shopping but rather things like in-app purchases in games such as Pokémon Go, which fall under direct consumer spending. The growing capabilities of smartphones have played a crucial role in connecting consumers to AR. In response, tech companies are actively working to develop AR hardware that could eventually eliminate the need for smartphones altogether.

How do AR investments vary by industry around the world?

According to Statista data, in 2024, the most important use cases for AR/VR are expected to be VR gaming, VR video/feature, and VR gaming with a market volume of 17.6 billion USD. We can gather this category under the title of entertainment and games. Again, training and industrial maintenance, which are expected to receive peak investment, share the second place with a share of 4.1 billion USD. Retail showcasing, on the other hand, is also on the comparative chart with an amount close to 2.7 billion USD.

Although the entertainment and gaming industry has made AR a hit, its positioning as a game changer in the retail industry proves its long-term quality. After all, brands are also aware of this rise. For example, we can say that Gucci owning a place in Roblox is proof that brands are trying to become a shareholder in the entertainment industry by making smart moves.

What barriers are there to the mass adoption of AR and VR?

Although it takes some time to accept the new, we are more inclined to adopt it when we see what it can do for us in the long run. It is possible to say the same thing for the story of the introduction of AR into our lives. A few years ago, the benefits of concepts like virtual try-on might not have mattered this much to any of us. Why bother to make the best decision with a smart device and camera when we can go to the store and shop? Then, when we least expected it, the pandemic came and online shopping became the center of our lives. The visionary brands that continued their work began to reap the fruits of their preparations. The rest rolled up their sleeves to take advantage of AR and VR services without wasting time.

According to the 2020 Statista data, we can say that the most important reason that 'scares' or 'pushes' users away from AR/VR experiences is insufficient hardware. 32% of AR/VR hardware users say cumbersome devices and frequent technical glitches have distracted them from this technological experience. We cannot measure exactly how much of this has changed in two years, but it is possible to say that major hardware developments from big tech companies are also on the way!

The Bottom Line

Incorporating AR solutions in your business, above all, allows you to express your products and services to consumers in a qualified and realistic way. Businesses that win the hearts of customers with hyperrealistic visuals and personalized high-quality 3D graphics become the preferred stop for their next shopping. You can benefit from the power of AR solutions to strengthen the bond you will establish with your customers. Now is the time to contact our professional team and see what you can do!

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FAQs

How is the global AR/VR market expected to grow?

According to Statista, the global augmented reality (AR), virtual reality (VR), and mixed reality (MR) market reached $28 billion in 2021 and is projected to surpass $250 billion by 2028. This growth is driven largely by the integration of AR in eCommerce, where personalized and immersive experiences like virtual try-ons are enhancing customer engagement and brand loyalty.

What industries are spending the most on AR/VR technology?

In 2020, consumer spending on AR/VR technology topped $6.36 billion, while the distribution and services sector spent around $2 billion. Other significant spenders include manufacturing and resources, the public sector, and infrastructure. Consumer AR spending covers everything from mobile AR apps to in-app purchases in games like Pokémon Go.

Which industries are investing the most in AR?

By 2024, the top sectors investing in AR/VR are expected to include entertainment and gaming, with VR gaming alone projected to generate $17.6 billion. Other high-investment areas include training and industrial maintenance, as well as retail showcasing, which is benefiting from AR's ability to create interactive shopping experiences.

What are the main barriers to the widespread adoption of AR/VR?

One of the main barriers to mass adoption of AR/VR is the lack of sufficient hardware. In 2020, 32% of users reported that cumbersome devices and frequent technical issues deterred them from fully engaging with AR/VR experiences. However, major tech companies are actively developing more advanced and user-friendly hardware to address these challenges.

Why should businesses consider using AR solutions?

AR allows businesses to present their products and services in a more engaging and realistic way. Hyperrealistic visuals and personalized 3D graphics help build stronger customer relationships, increase satisfaction, and drive repeat purchases. By incorporating AR into their strategies, businesses can offer immersive, high-quality experiences that set them apart from competitors.