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General

Pandemic tempers growth in AR/VR spending, but long-term outlook positive - IDC

Tuesday 21 July 2020 | 13:00 CET | News
Growth in worldwide and European AR/VR spend will decline in 2020 compared to the pre-Covid-19 forecast scenario, according to data from IDC. Marked reductions in IT spend and an economic downturn due to the pandemic will slow worldwide AR/VR spend to USD 10.7 billion, a tempered 35.3 percent growth from the USD 7.9 billion spent in 2019. But the long-term outlook remains strongly positive. The researchers estimate a five-year compound annual growth rate (CAGR) in AR/VR spending of 76.9 percent worldwide in 2019–2024 to reach USD 136.9 billion by 2024. 

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Categories: General
Countries: Europe / World
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