30 Augmented Reality (AR) Statistics CMOs Should Know

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.

Related reading: 3D Product Configurator Development for Enterprise Marketing