IDC Releases Data: VR/AR Market Will Surge in Four Years

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Beijing time August 29th, IDC, the international authoritative data agency, recently released a data report on virtual reality (VR)/enhanced reality (AR) in the next few years. The report shows that the VR/AR market has reached 5.2 billion U.S. dollars in 2016. The market, which will reach 162 billion U.S. dollars in 2020, will mean that the average annual growth rate of the VR/AR market will increase by 181.3% over the next four years. The report also pointed out that recently a "Pokemon GO" affecting the AR market has received 250 million U.S. dollars in revenue since its release, and will obtain more than 1 billion U.S. dollars in revenue by the end of the year.

"AR and VR have been unique to science fiction for many years," said Chris Chute, vice president of customer affairs and analysis at International Data Group, at a press conference. "As we have powerful smartphones to support less expensive VR headsets, the consumer market will explode due to new payment experiences and user-generated content experiences."

"The increase in new and inexpensive hardware will put VR and AR technology in the hands of more companies and individuals," said Tom Mainelli, vice president of equipment and VR/AR at the International Data Group.

"Since AR and VR technologies are still in the early stages of application, each region associated with them (worldwide) expects to see an annual growth rate of more than 100% for the foreseeable period," said International Data Group.

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