|
What happened: According to IDC's "Worldwide Semiannual Augmented and Virtual Reality Spending Guide" (June 2021), the global XR market size in 2014 was $3.8B, and it is projected to grow to $160B by 2023. Why it matters: The COVID-19 pandemic has accelerated the adoption of XR technologies in various industries, including healthcare, retail, and education. The growth is attributed to the increasing demand for XR technologies in both consumer and enterprise markets, advancements in hardware capabilities, and declining prices. Where to see the impact: The adoption of 5G networks is expected to enable new XR use cases and improve the user experience. AR is expected to outpace VR in market size and adoption in the next few years. |
