30 Augmented Reality (AR) Statistics CMOs Should Know

Where is AR headed? Where is it now? Why should you invest? These statistics may help

Sam Decker

September 6, 2023

User Perceptions and Behavior

  • 57 percent of users say they're more likely to buy from a brand offering AR.
  • 70% of consumers believe AR can be helpful for learning new skills.
  • Over two-thirds of US citizens believe AR will integrate into everyday life over the next few years.
  • Over 90% of Gen Zs are interested in AR shopping experiences.
  • Almost 50% of Americans use augmented reality without realizing it.

Market Size and Growth

  • The augmented reality market is estimated to exceed $50 billion by 2024.
  • The AR market was valued at $31.9 billion in 2022.
  • AR market volume to increase to $11.58 billion in 2023.
  • Augmented Reality will be worth $31.12 billion in 2023.
  • The AR & VR market is currently worth $31.12 billion.
  • Revenue is predicted to grow at a CAGR of 15.6% through 2027.

Industry-Specific Statistics

  • The world invested $12 billion into VR/AR gaming in 2020.
  • AR/VR in healthcare is estimated to reach $7.05 billion.
  • AR in the automotive market will grow by $14.44 billion in 2028.
  • AR is shifting towards 65% of industrial applications.

Product and Software Stats

  • Revenues for AR/VR displays totaled $942 million in 2022.
  • The AR/VR headset market is expected to ship around 50 million units by 2026.
  • The market value for smart glasses will reach $12.76 billion in 2030.
  • The AR Software market will reach a value of $137.14 billion by 2028.
  • AR and VR headsets are expected to reach 10.1 million units in 2023, with a compound annual growth rate of 32.6% between 2023-2027.
  • Headworn AR is set to reach $35.26 billion by 2027.
  • AR glasses revenue is expected to increase by over 5x between 2023 and 2026.
  • Handheld devices will have a CAGR of 45% between 2021 and 2028.

Adoption and Usage

  • In 2020, 83.1 million people in the US used AR every month.
  • 70% of businesses plan on adopting AR/VR for employee training.
  • AR mobile app installations to exceed 15 billion by the end of 2022.

Historical Context

  • In 2016, Pokémon Go started the augmented reality hype.

Corporate Investment

  • Facebook acquired 11 AR/VR companies.

Revenue Share

  • Consumer spending on AR/VR is forecast to account for a 37.4% share of the global AR/VR customer market, with a market value of $31.9 billion in 2022.
  • Revenue for AR will reach $340.16 billion by 2028.