Education Helping to Drive Massive Surge in AR & VR

Jun 19, 2019 by

By David Nagel –

Augmented and virtual reality will see explosive growth in the next five years, driving in large part by education — both K–12 and post-secondary.

According to a new forecast from market research firm IDC, AR and VR will grow at a compound annual growth rate (CAGR) of 78.3 percent for the next five years to reach nearly 10 times the scale it’s expected to hit this year — from $16.8 billion in 2019 to $160 billion in 2023.

According to IDC, two of the top 5 use cases for growth are in the education sector:

  • Lab and field work in higher education, which is expected to grow at a CAGR of 183.4 percent over the forecast period; and
  • Lab and field work in K–12, which is expected to grow at a CAGR of 146.3 percent.

Education Helping to Drive Massive Surge in AR & VR

The United States will not lead in either spending or growth. China will spend the most on AR & VR technology during the forecast period. The United States will come in second. The two combined will account for about three-quarters of the world’s spending on this technology category.

Source: Education Helping to Drive Massive Surge in AR & VR — THE Journal

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