What Will Be The Virtual Reality Market In 2020: Forecast

IDC predicted the development of augmented and virtual reality in 2020

Next year, users will try augmented and virtual reality much more actively. In 2020, they will spend about $18.8 billion on it, writes DigiTimes. User spending in 2020 will be 78.5% more than in 2019. This year, this market amounted to $10.5 billion, IDC analysts estimate.

The growing popularity of augmented and virtual reality products will show good results over the next five years. IDC forecasts an annual increase of 77% between 2019 and 2023. The main consumer of augmented and virtual reality products is the commercial sector. In 2020, its share will be 50%, and in 2023 it will increase to 68.8%. In this sector, the largest consumers will be trade ($1.5 billion) and manufacturing ($1.4 billion). The commercial sector uses augmented and virtual reality primarily for training and training ($2.6 billion) and industrial services ($914 million).

Home consumers will make up about a third of the market in 2020. They will purchase augmented and virtual reality for gaming ($3.3 billion) and viewing the capabilities of this technology ($1.4 billion). The main cost direction will be hardware devices, which will account for 2/3 of all expenses. At the same time, people will buy virtual reality solutions more often. However, by the end of the forecast period, augmented reality (devices, software, and services) will be ahead in total.

Analysts expect the largest spending on augmented and virtual reality in China ($5.8 billion). Next are the United States ($5.1 billion), Western Europe ($3.3 billion), and Japan ($1.8 billion).