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AR and VR Spend Expected to Double in Western Europe

Research gathered from the International Data Corporation (IDC) reveals that the Augmented Reality and Virtual Reality hardware, software and services in Western Europe is said to reach $2.5 billion in 2017, a 131% increase over the $1.1 billion spent in 2016. Manufacturing and Retail will have the biggest market share.

When looking at the total market share of AR VR spend, Consumers represent 56% of the market share with Manufacturing representing the next largest portion of revenue at 19%.

Some of the main points covered in the market report are:

  • Manufacturing and retail being the biggest contributors.
  • Industrial maintenance, logistics and package delivery will lead the spending in Western Europe.
  • Retail showcasing and anatomy diagnostics will be fastest growing industrial use cases over the next couple of years.
  • The article also talks about how consumers will help increase this market.

Overall according the IDC the AR and VR spending is forecast to increase by 210% CAGR between 2015 and 2020 making a grand total of $25.7 billion in 2020.