Strap on your headset to see some big bucks.
Augmented and virtual reality spending could potentially reach $13.9 billion in 2017, according to a forecast by the International Data Corporation. Between 2015 and 2020, AR and VR is expected to earn a total $143.3 billion, according to the report.
Get ready to see even more VR and AR in your life. The emerging technology, which lets people immerse themselves in new worlds or alter their surroundings, is finding its way into more homes and hands as the gadgets become more accessible.
HTC had announced it was creating a mobile VR device after the success of its Vive headsets, while Google touted its Daydream headset and Samsung showed off a new Gear VR headset at Mobile World Congress.
Augmented reality boomed into the mainstream in 2016 as Pokemon Go dominated app stores across Android and iOS.
Buyers spent $6.1 billion on VR and AR in 2016, and it’s expected to more than double to $13.9 billion in 2017. About $6.2 billion of that increase will come from consumers buying the hardware and software for VR and AR, according to analysts. The US is expected to be VR and AR’s biggest customer, followed by buyers in Asia.
Games and entertainment will help VR hold a lead ahead in 2017 and 2018, but analysts predict VR will take over by 2018 as technology develops to bring healthcare delivery and product design solutions.
“On the virtual reality side, producers are quickly moving beyond games to create new content mainstream audiences will embrace,” Tom Mainelli, IDC’s vice president of Devices and AR/VR said in a statement. “On the augmented reality side of the fence we’re seeing commercial entities begin to more seriously evaluate the technology.”