Techno-News Blog

By Joshua Bolkan, Campus Technology
Spending on augmented and virtual reality will nearly double in 2018, according to a new forecast from International Data Corp. (IDC), growing from $9.1 billion in 2017 to $17.8 billion next year. The market research company predicts that aggressive growth will continue throughout its forecast period, achieving an average 98.8 percent compound annual growth rate (CAGR) from 2017 to 2021. Consumer spending will be the single largest source of spending on AR and VR in the near term, accounting for $6.8 billion in 2018, with about three quarters of that spending going toward virtual reality hardware and software. The majority of spending on augmented reality in 2018 will go toward software. Spending by consumers will grow more modestly than the market overall, increasing at an average CAGR of 45.2 percent to reach $20 billion in 2021. Gaming will be the leading consumer use case for VR and AR throughout the forecast period.

https://campustechnology.com/articles/2017/12/04/virtual-and-augmented-reality-to-nearly-double-each-year-through-2021.aspx