VR Software - United States | Statista Market Forecast

In the United States, revenue in the VR Software market market is projected to reach US$990.3m in 2024.
Revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 5.02%, leading to a projected market volume of US$1.3bn by 2029.
With a projected market volume of US$990.3m in 2024, the majority of revenue is generated the United States.
In the VR Software market market withthe United States, the number of users is expected to amount to 44.8m users by 2029.
User penetration will be 12.0% in 2024 and is anticipated to increase to 12.8% by 2029.
The average revenue per user (ARPU) the United States is expected to amount to US$24.1.
The United States is experiencing a surge in VR software development, driven by increasing demand for immersive training solutions across various industries.

The VR Software market can be divided into two markets: Gaming and Video. Gaming includes all revenues that are generated from VR games, either through game purchases via Steam or any other marketplace or through in-game purchases. Purchases of physical video games are also included. According to Steam, the top-selling VR games are Half-Life: Alyx, Beat Saber, as well as Blade and Sorcery. The Video market contains all revenues from video apps, such as 360-degree videos, or from any other application, such as Google Earth VR. VR software revenues comprise in-app purchases, subscriptions, as well as app and game purchases.

Digital revenues from virtual reality games and videos for consumers
Virtual reality games that can be accessed via headsets and installed units
Virtual reality videos that can be accessed via headsets, such as 360-degree videos and virtual reality videos made for headset consumption

Virtual reality content that can be accessed without any installed devices, e.g., via desktop PCs or mobile phones
B2B enterprise software

The VR Software market in United States has been experiencing significant growth in recent years, driven by customer preferences for immersive and interactive experiences, as well as advancements in technology.

Customer preferences: Customers in the United States are increasingly seeking out virtual reality (VR) software to enhance their entertainment and gaming experiences. The ability to transport oneself into a virtual world and interact with it in a realistic manner has captivated the imagination of consumers. Additionally, VR software is being used in various industries such as healthcare, education, and real estate, further expanding the customer base.

Trends in the market: One of the key trends in the VR Software market in United States is the development of more sophisticated and realistic virtual environments. Software developers are continuously pushing the boundaries of what is possible in terms of graphics, audio, and interactivity. This trend is driven by the demand for more immersive experiences and the need to differentiate products in a competitive market. Another trend in the market is the increasing adoption of VR software by businesses for training and simulation purposes. Companies are recognizing the value of using VR technology to provide employees with realistic training experiences, which can improve performance and reduce costs. This trend is expected to continue as more businesses realize the benefits of VR software in various industries.

Local special circumstances: The United States has a strong technology and entertainment industry, which has contributed to the growth of the VR Software market. The presence of major technology companies and studios has fostered innovation and investment in VR software development. Additionally, the large consumer market in the United States provides a significant customer base for VR software products.

Underlying macroeconomic factors: The growth of the VR Software market in United States is also influenced by underlying macroeconomic factors. The strong economy and high disposable income levels in the country have contributed to increased consumer spending on entertainment and technology products. Additionally, the availability of venture capital and investment in the technology sector has supported the development and commercialization of VR software products. In conclusion, the VR Software market in United States is experiencing significant growth due to customer preferences for immersive experiences, advancements in technology, and the presence of a strong technology and entertainment industry. The market is expected to continue to expand as more businesses adopt VR software for training and simulation purposes, and as software developers push the boundaries of what is possible in terms of virtual environments.

Data coverage:

The data encompasses B2C enterprises. Figures are based on VR software revenue, which includes revenues from video games and VR videos consumed via stand-alone or tethered units.

Modeling approach / market size:

The market size is determined through a top-down approach. We use annual financial reports of the market-leading companies and industry associations, as well as third-party studies and reports to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as consumer spending, internet penetration, 4G coverage, and historical developments.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are level of digitalization, adoption of technology, GDP per capita, and internet penetration.

Additional notes:

F2The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).

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Virtual reality (VR) is a simulated experience similar to or completely different from the real world. VR aims to create a sensory experience for the user, sometimes including sight, touch, hearing, smell, or even taste. The industry is growing at a fast pace, with the global VR market size projected to increase from less than 12 billion U.S. dollars in 2022 to more than 22 billion U.S. dollars by 2025. Both the enterprise and consumer segments, including the increased development of the VR gaming industry, are expected to profit from the forecast growth.