AR & VR Spending Takes Off
|Source: Stock Augmented vs Virtual Reality|
Big Escalation through 2022
Global spending on AR/VR will soar at a 5 year CAGR (compound annual growth rate) of 72% over 2017-2022. By the end of 2018 it will hit $27 billion, up 92% year over year. What's happening to fuel the growth is escalating use across industries, including a number of new industries. This is the latest tracking by the International Data Corporation, IDC.
Industry Use Rising, Along with China's
IDC is tracking a number of global industries increasingly using AR/VR. The number of industries is on the rise and is now up to 39 including consumer, education, media and government. Another big growing user is China.
Consumer industries are the biggest user through 2022, reaching $53 billion by 2022. This is followed by retail, manufacturing and transportation. Gaming is the biggest user in 2018. But by 2022 the biggest percentage increase users in spending will be retail, followed by labs, film and TV amusement. Also 360-degree video viewing for K-12 is of growing importance.