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The market for Augmented and Virtual Reality is exploding. Analysts had high expectation early in the year. But people sheltering at home this year from the pandemic may spike the numbers even stronger.
Jitesh Ubrani, research manager of IDC mobile device trackers, said that “as an increasing number of consumers and employees stay indoors and look to AR and VR solutions for ways to collaborate with colleagues and entertain themselves and their families.”
Some additional facts and factors behind the dramatic growth are:
- Augmented and virtual reality (AR/VR) sales will jump 79% to $18.8 billion in 2020, according to IDC.
- Immersive Learning Solutions is a major area that will also promote growth of AR/VR technologies, according to a report by JFFLabs.
- About one-third of AR/VR spending will be in the consumer segment, according to IDC.
And statistics from Hired show that tech businesses began staffing up on AR/VR technology skills a year or two ago. Expect AR/VR products to begin rolling out.