Augmented and Virtual Reality Products to Reach $17.8 Billion in 2018

virtual reality

Sales on augmented and virtual reality are expected to reach $17.8 billion in 2018, exceeding the $9.1billion quota set by the International Data Corporation for this year.

The most recent update to the Worldwide Semiannual Augmented and Virtual Reality Spending Guide also shows that the global increase in spending will continuously grow at the same rate from 2017 through 2021 forecast period, accomplishing a five-year multifarious yearly growth rate of 98.8%.

“Virtual reality will continue to drive greater levels of spending in the next 12-18 months, as both consumer and commercial use cases gain traction. There is currently a huge appetite from companies that see tremendous potential in the technology, from product design to retail sales to employee training” Tom Mainelli – Program Vice President, Devices, and AR/VR

Virtual reality may soon propel itself to the mainstream market

According to Business Insider, Virtual Reality not only could change the way we look at
entertainment, but it could also apply to other applications in different industries as well. Its various potential opportunities may lead to an accelerated growth of VR sales.

IDC’s worldwide Semiannual Augmented and Virtual Reality Spending Guide reviews the Virtual Reality/Augmented Reality opportunity and provides valuable insights into its rapidly growing market and how it will continue to develop over the next five years.

The revenue data is currently available for at least 8 regions, 26 user cases, 12 industries and even eleven technology categories. It was created to help IT decision makers to have an overview of its industry-specific scope as well as the directions of its expenditures today in and the years to come.

International Data Corporation is the leading global provider of advisory services, market intelligence, and events for the telecommunications, consumer and information technology markets.

How do you feel about the growing popularity of virtual reality? Leave your comment down below and tell us how you feel.

For almost 10 years Dave has been involved with eCommerce with a particular interest in the marketplaces and the huge opportunities available for sellers when utilizing a multi-channel strategy. After a year of being the UK’s youngest eCommerce consultant it was the opportunity to start UnderstandingE with Matt Ogborne showing the world how to utilize Magento as the Third Generation of Multi-Channel software. Dave also recently started a YouTube channel called the Manc Entrepreneur (click YouTube icon link below to watch Dave's videos) where he discusses all things eCommerce and entrepreneurship aimed to help young entrepreneurs get started on their own journey. When Dave isn’t working his main interests include, Technology, Cars and throwing himself off high things into water.


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