In 2024, the VR market will earn $3.2 billion - six times more than five years ago

The global VR market is on the rise. According to the forecast of Newzoo analysts, in two years its revenue will exceed $ 3 billion, despite the fact that in 2019 it was only $ 0.5 billion.

Newzoo also indicated that by the end of 2022, the VR market will earn $ 1.8 billion, and by the end of 2023, $2.5 billion.

The number of owners of virtual reality devices will also grow significantly — from 8 million people in 2019 to 46 million people in 2024.

Among the main reasons for the growth, analysts highlighted the relative availability of VR headsets from Meta*, the increasing popularity of the Pico VR headset outside China, the pandemic and the release of Half-Life: Alyx.

*The company’s activities are prohibited in the Russian Federation.

Newzoo Report on the VR Market
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