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