virtual reality and augmented reality market

A report released by International Data Corporation (IDC) reveals the scale of the market that is getting ready in China. Expenditure is expected to exceed 65.21 billion by 2023.

China has long been described as a sleeping giant. If this is clearly not the case today, it is often difficult to realize how much they will weigh on the international market.

The evolution for the next few years is making us dizzy, especially for virtual and augmented reality.

China: expenses multiplied by 10

For 2019, Chinese market spending is estimated at 6.53 billion for virtual reality or augmented reality. According to this file, spending could be multiplied by 10 by 2023, exceeding $ 65.21 billion. The compound annual growth rate will then reach a rate of 84.6% against 78.3% for the world market. Several factors will play a major role in this crazy spending: formation, retail presentation and industrial maintenance will be the main growth drivers for commercial uses. Consumption, virtual reality games, augmented reality games and virtual reality videos (especially porn in virtual reality) will also occupy the top spots.

A growing number of companies are turning to virtual reality to drive training, collaboration, design, sales and many other use cases” said Tom Mainelli, IDC Group Vice President. After China, it is the United States that will represent the second market. The sum of the two will account for ¾ of global spending in 2023. Europe and France seem somewhat behind these numbers.