Augmented Reality

• [New] The consumer gaming industry will reach a value of $198 billion by 2024, not including sales from hardware and devices, augmented reality, virtual reality and advertising.
• [New] As for outer years of the five-year outlook, AR advertising will lead mobile AR revenue with $8.1 billion projected by the end of 2024.
• [New] VR gaming, VR video / feature viewing, and AR gaming make up the three largest consumer use cases for augmented and virtual reality, with 20.8 billion U.S. dollars expected to be spent in 2023.
• Virtual reality and augmented reality have the potential to deliver a £1.4 trillion boost to the global economy by 2030.
• The market for virtual reality and AR in the healthcare sector was estimated to be around $2.14 billion in 2018 and is projected to reach $11.14 billion by 2025.
• In 2025 the use of augmented reality (AR), virtual reality (VR) and digital twins from the planning stage, through to the completion of a project, would be more common.
• The estimated global market value for AR technologies is set to grow from $4bn in 2017 to $60 billion by 2023, with use cases already being developed in the entertainment, retail, engineering, manufacturing and healthcare industries.
• The mobile augmented reality market will close with a value of 10.7 billion dollars in 2020, and that it will reach the value of 230.6 billion dollars by 2027, growing at an annual rate of 55%.
• The AR healthcare market is expected to generate approximately US$ 10 billion in revenues with the VR Healthcare market reaching US$ 1.2 billion in 2024.
• The augmented reality and virtual reality market is poised to grow by $125.19 billion during 2020-2024, progressing at a CAGR of over 35% during the forecast period.
• The global AR and VR market in healthcare is projected to hit 10.82 billion U.S. dollars by 2025.
• While the world is approaching 2021, augmented reality and virtual reality will continue to have an optimal impact on industries.
• The global spending on Augmented Reality and Virtual Reality will see a 78.5% growth and will rise to as much as 18.8 billion dollars.
• AR in healthcare market is witnessing a big boost with a high expected CAGR of 31.63% and market value expected to rise from US$ 779.994 million in 2019 to US$ 4,057.144 million in 2025.
• Today, 171 million people are using VR technology; The combined market of AR/VR is expected to reach $16.8 billion in 2019; VR gaming revenue is forecast to touch $22.9 billion by 2020.
• With improvements in technology and design, augmented reality and mixed reality will continue to grow to a market of over $20Bn by 2030.
• The use of the Internet of Things (IoT) should reach 20.4 billion IoT units installed in 2020; - Autonomous vehicles are expected to quadruple within the next 5 years and - Virtual and augmented reality could reach a market size of $193 billion by 2022.
• Despite being a smaller market today, we expect the advanced analytics market to grow 50% over the next five years, including predictive maintenance, computer vision and augmented reality.
• The global market for augmented reality and virtual reality is estimated to offer an incremental growth opportunity of about US$ 115 billion (€96 billion) during the mentioned forecast period.
• The global augmented reality and virtual reality (VR) market in healthcare is expected to reach $10.82 B by 2025.
• The global Augmented Reality (AR) in Healthcare market is expected to grow from USD 651.7 million in 2019 to USD 3,347.3 million by 2024 at a CAGR of 32.9%.
• The Augmented Reality market has grown so colossal that predictions estimate its value to reach $61.4 billion by 2023.

Last updated: 22 November 2020