Online Learning Update

August 15, 2017

Report: VR and AR to Double Each Year Through 2021 #elearning

Filed under: Online Learning News — Ray Schroeder @ 12:04 am

By Joshua Bolkan, Campus Technology
Global spending on augmented reality and virtual reality (AR/VR) will double, at a minimum, each year through 2021, according to a new forecast from International Data Corp. (IDC). Total spending on products and services in the category will reach $215 billion in 2021, according to the company, up from $11.4 billion this year and representing a compound annual growth rate (CAGR) of 113.2 percent for the forecast period. This year the United States will lead spending in the category at $3.2 billion, followed by Asia/Pacific excluding Japan (APeJ) at $3 billion and Western Europe at $2 billion. IDC predicts APEJ to take the top spot from the US for a couple years, slowing in 2019 and relinquishing the top spending slot in 2020 while Western Europe will move into the second spot in the following year. Canada will see the fastest growth, with a CAGR of 145.2 percent over the forecast period.

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