Growth in sight for virtual and augmented reality

Despite slow adoption by the general public, spending in the virtual reality and augmented reality sectors continues to grow.

According to the latest figures from the firm International Data Corporation (IDC), spending in the virtual reality (VR) and augmented reality (AR) sectors will amount to 13.8 billion dollars worldwide this year, and are expected to reach 50.9 billion in 2026.

Virtual reality, what expenses for hardware and software?

This figure will be split almost evenly between commercial and consumer applications, while VR will account for more than 70% of spending over the period 2022-2026. Standalone or wired headsets will account for more than a third of spending, followed by software which will account for more than a quarter by the end of the study period, i.e. 2026. Software will experience an average annual growth of 41.3%.

The word to Ramon T. Llamas from IDC

“The AR/VR market has grown slowly but surely in recent years, and is expected to accelerate significantly in the coming years,” says Ramon T. Llamas of IDC. Recently and soon to be announced devices from major brands show marked improvements over the first-generation models. The development of current applications and the addition of new ones show the versatility that AR/VR offers. The result: a maturing market ready to prosper for both the general public and professionals.”