Worldwide AR/VR market will grow from $11B today to $215B by 2021, predicts IDC

As ARKit demo apps continue to generate excitement for the launch of the iPhone 8, whose 3D cameras are expected to be optimized for augmented reality, IDC is predicting a profitable future for the technology …

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The market analysts forecast that total worldwide spending on VR and AR will increase from $11.4B this year to almost $215B by 2021.

Total spending on AR/VR products and services is expected to [achieve] a compound annual growth rate (CAGR) of 113.2% along the way. The United States will be the region with the largest AR/VR spending total in 2017 ($3.2 billion), followed by Asia/Pacific (excluding Japan)(APeJ) ($3.0 billion) and Western Europe ($2.0 billion).

The firm predicts what seems a rather conservative doubling in spend per year. With Apple popularizing AR through the iPhone 8 launch, and aiding development of apps through ARKit, the rate of growth seems likely to far exceed that in the twelve months from September at least.

We’ve already seen a variety of impressive AR demo apps, ranging from the mundane but useful through games and entertainment. We’ve even seen an example of how it could transform budget film-making.

Apple is expected to show off a number of AR apps at the iPhone 8 keynote, and is rumored to be working on AR glasses to launch at some later point.


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