AR and VR is still a new technology and although they are still finding their feet in the mainstream tech market, a new update to the Worldwide Semiannual Augmented and Virtual Reality Spending Guide from the International Data Corporation (IDC) forecasts worldwide revenues for the augmented reality and virtual reality (AR/VR) market to reach $13.9 billion in 2017.
“AR and VR headsets get most of the media attention right now, but the hardware is only as good as the software and services running on it,” said Tom Mainelli, program vice president, Devices and AR/VR. “On the virtual reality side, producers are quickly moving beyond games to create new content mainstream audiences will embrace. And on the augmented reality side of the fence we’re seeing commercial entities begin to more seriously evaluate the technology and begin to test the waters of app development.”
Most of the spending will come from the consumer market, however on the business side discrete manufacturing and retailers are expected to be the big spenders, utilizing the tech to enhance their business’ and customers experiences, not only this but AR is expected to surge ahead in other industries like healthcare, product design and management related uses.
“We expect initial AR spending to lean on mobile workforce-based use cases, where AR headsets are a natural enhancement to existing mobility investments,” said IDC analyst Marcus Torchia. “And we will see education, research and design applications form a foundation of adoption in professional environments.”