See full analysis Learn more Augmented reality [New] ARtillery Intelligence has released a new report that projects headworn AR revenue to grow from $822 million in 2019 to $13.4 billion in 2024. [New] We project enterprise AR spending to reach $5.1 billion in 2021, which includes AR productivity software for mobile devices as well as AR glasses hardware and software. [New] 65% of consumers will be using voice, images, and augmented reality by 2023 for interacting with brands via their mobile device, extending the physical and digital experiences of today. [New] Worldwide spending on augmented reality and virtual reality will surge to $72.8 billion in 2024, compared to $12 billion in 2020. [New] Global spending on AR and VR technology is expected to increase by 78.5% in 2021. By 2030 XR will boost the global economy by $1.5 trillion, with the growth of jobs enhanced by VR and AR jumping from under one million in 2019 to over 20 million by 2030. ARtillery Intelligence projects AR glasses spending to grow from $822 million last year to $13.4 billion in 2024. Europe region will witness a remarkable growth rate for AR market in healthcare that is projected to generate revenue of $622.6 million by the end of 2026, at a CAGR of 26.2%. The global AR for healthcare market is projected to generate revenue of $1,918.6 million by 2026, at a CAGR of 25.5% in the forecast time from 2019 to 2026. The global market of digital health VR is expected to grow to $2.4 billion by 2026, due to its potential to eliminate the need for certain medications or surgeries. Pre-COVID AR saw record growth in 2019 and Global Market Insights estimated that the AR market would jump past $50 billion by 2024. Virtual reality in the gaming market was valued at USD 7.7 billion in 2019 and is projected to reach USD 42.50 billion by 2025. The global augmented reality and virtual reality market is projected to account for a revenue of $1,274.4 billion in 2030, rising from $37.0 billion in 2019, progressing at a robust CAGR of 42.9% during the forecast period (2020-2030). The virtual reality market is forecast to reach 18.8 billion U.S. dollars in 2020, representing a 78% increase in spending from last year. Global spending on Augmented and Virtual Reality will reach $18.8 billion by the end of 2020. As for outer years of the five-year outlook, AR advertising will lead mobile AR revenue with $8.1 billion projected by the end of 2024. The combined revenues of the AR and VR industries are expected to grow from USD 8.6 billion in 2019 to USD 107 billion in 2025. Virtual reality within businesses is set to reach greater heights, as its revenue is projected to grow from $829 million in 2018 to $4.26 billion in 2023. The consumer gaming industry will reach a value of $198 billion by 2024, not including sales from hardware and devices, augmented reality, virtual reality and advertising. VR gaming, VR video / feature viewing, and AR gaming make up the three largest consumer use cases for augmented and virtual reality, with 20.8 billion U.S. dollars expected to be spent in 2023. Virtual reality and augmented reality have the potential to deliver a £1.4 trillion boost to the global economy by 2030. The market for virtual reality and AR in the healthcare sector was estimated to be around $2.14 billion in 2018 and is projected to reach $11.14 billion by 2025. The mobile augmented reality market will close with a value of 10.7 billion dollars in 2020, and that it will reach the value of 230.6 billion dollars by 2027, growing at an annual rate of 55%. Last updated: 10 January 2021 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No