Augmented reality The augmented and virtual reality market amounted to a forecast of 18.8 billion U.S. dollars in 2020 and is expected to expand drastically in the coming years. By 2025 as the Virtual Reality market continues to boom (from $7.9 billion in 2018 to $53.6 billion in 2025, virtual reality will become the standard part of marketing campaign. The retail industry's spending on AR and VR is expected to increase at a compound annual growth rate of 238.7%; it will become the sector spending most on AR and VR by 2020. By the end of 2019, the number of social network AR users will represent 10.9% of the US population, 12.7% of internet users and 17.6% of social network users. Augmented reality (AR) is set to become a huge trend for retailers in 2019, as uptake of AR continues with the AR market set to reach $215 billion by 2021. The projected compound annual growth rate of AR and virtual reality (VR) spending for retail showcasing is forecasted to be 102.8 percent worldwide between 2018 to 2023. Augmented Reality (AR) is about to blow up the social media world and will well and truly be one of the biggest Instagram trends of 2019. The global market for augmented and virtual reality is expected to reach $94.4 billion by 2023. The global augmented reality and virtual reality market is growing at 73.3% CAGR during the forecast period (2018-2025) and is expected to cross the value of USD767.67 billion by 2025. Worldwide spending on augmented reality and virtual reality is forecast to be $18.8 billion in 2020, an increase of 78.5% over the $10.5 billion International Data Corporation (IDC) expects will be spent in 2019. Virtual reality and augmented reality are forecast to add £62.5 billion to the UK economy by 2030 and £1.4 trillion to the global economy. The global virtual reality (VR) headset market is expected to reach an estimated $38.7 billion by 2024 with a CAGR of 41.0% from 2019 to 2024. The augmented reality market was valued at USD 4.21 billion in 2017 and is expected to reach USD 60.55 billion by 2023, at a CAGR of 40.29% between 2018 and 2023. The demand for virtual reality and augmented reality is anticipated to increase inside the coming years. 2017 estimates pegged the AR market as a $4.2 billion industry, a figure that could rise to $85 billion by 2025. While traditional methods of classroom teaching have sufficed so far, statistics now show that the projected market growth for both VR and augmented reality (AR) are set to reach $2.8bn by 2023. By 2021, one-third of enterprises will support mobile, web, conversational and augmented reality development through a multiexperience development platform. With 200 million active users and over $20 billion expected market investments by 2020, Virtual Reality (VR) is inevitably making its way into the consumer market. By 2021, at least one-third of enterprises will have deployed a multiexperience development platform to support mobile, web, conversational and augmented reality development.. The healthcare market in AR/VR stood at US$933.1 million in 2018 and is expected to reach US$ 3,192.2 million by the end of the forecast period, growing at a CAGR of 36.2% from 2018 to 2023. Gartner predicts that by 2020, augmented reality, virtual reality, and mixed reality immersive solutions will be a part of 20 percent of enterprise's digital transformation strategy. IDC predicts that the virtual and augmented reality market will dramatically expand from just over $9 billion last year to $215 billion by 2021. See full forecast Last updated: 19 January 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
