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AR and VR Spend Expected to Double in Western Europe

https-www.emarketer.comArticleAR-VR-Spend-Expected-Double-Western-Europe1015406

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.