Global AR/VR forecast spending by segment 2020

In 2020, consumer spending on augmented and virtual reality (AR/VR) technology is expected to reach around 6.36 billion U.S. dollars, whilst the distribution and services sector is forecast to spend nearly two billion U.S. dollars. Total AR/VR spending worldwide is projected to amount to 12 billion U.S. dollars in 2020, although this is set to rise considerably through to 2024, reaching 72.8 billion U.S. dollars.

AR consumption

AR technology is being used across numerous industries such as healthcare, public safety, gas and oil, tourism and marketing. As the technology improves further, there is no doubt that the use cases of AR will widen and develop as businesses and consumers alike realize the full potential, with the technology expected to become as prominent as mobile devices are in today’s market.

VR consumption

VR gaming and VR video make up the largest consumer use cases for VR technology, with 20.8 billion U.S. dollars expected to be spent in 2023 on these areas alone. However, experts have suggested that the benefits of VR will have an impact upon industry too, with improvements to efficiency a real possibility. As a result, by 2023 it is expected that industrial usage will be three times larger than that of consumers.