Latin America. 2017 was a big year for the virtual reality and augmented reality market, as consumer content and applications from both technologies reached $3.2 billion during that year.
This is clear from the most recent report on the subject by market specialist IHS Markit, which also highlights that global consumer spending on VR headsets reached US$2.4 billion in 2017.
The report forecasts that global consumer spending on VR headsets will reach $5.9 billion by 2021. This will be driven by continued adoption of PCs, consoles, and standalone headphones as hardware prices drop, technology improves, and content becomes more engaging.
A smartphone-powered AR market offers a large addressable audience, but this scale will be offset by more limited use cases for dedicated handheld and small-screen AR experiences.
To download the companion ebook examining the global growth of location-based virtual reality, Consumer Augmented Reality, and immersive computing, click here.
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