By 2021, augmented reality (AR) and virtual reality (VR) spending will increase from 2017's $11.4 billion to $215 billion, according to the International Data Corporation (IDC). The U.S. currently spends the most on AR/VR applications with $3.2 billion spent in 2017.
Companies like VMware, Intel, Apple have announced developments in wearables. Google Glass and Microsoft's HoloLens have already entered the AR/VR domain with wearable solutions for the enterprise.
While popular in the consumer market as the current major supporter of AR/VR revenue, retail and education, followed by manufacturing, construction, and professional services are foreseen as the next major enterprise revenue contributors, according to IDC.
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About IDC International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading media, data and marketing services company that activates and engages the most influential technology buyers.