Augmented reality market to be worth three times as much as virtual reality by 2020, says report

An industry report on the virtual reality (VR) and augmented reality (AR) markets predicts that the sectors will be worth US$30bn (£22.7bn, €26.7bn) and US$90.8bn (£68.9bn, €80.9bn) respectively by 2020.

The report by RnRMarketResearch.com, titled Global and China VR and AR Industry Report, 2016-2020, says VR will be less successful than AR due to the limitations of a head-mounted device owing to size and weight.

According to the report, VR will still be the driving force of the alternate reality medium until consumer-grade AR products can be created in terms of technology and prices of hardware. However, once the AR market matures it is expected to quickly capture and surpass VR, taking control of the sector in 2019 thanks to its applicability across multiple fields.

For 2016, the global VR market has been predicted to be valued at US$970m (€864m, £735m), while the AR market has been touted at US$500m (€445m, £379m). By 2020 those figures are expected to have increased drastically, with the VR market valued at US$30bn (€26.7bn, £22.7bn) and the AR market at US$90.8bn (€80.9bn, £68.8bn).

“Gradually-formed industrial standards raise the access threshold, thus eliminating less competitive teams and companies,” said the report. “Large companies will gradually build the perfect VR ecosystem. PC VR products, primarily games and movies, will be targeted at expert players and game enthusiasts. Mobile VR products will gradually move into business fields like education and tourism. As the number of content development teams increases, the scope of VR will broaden.”

For AR, the report says that the fusion of 3D visualisation technology and projection technology will change human/technology interaction.

“As AR evolves, gesture interaction will become more mature, changing the relationship between human and technology with human body language used to interact with technology products,” said the report, which added that “intelligent glasses” will be the mainstream trend of AR hardware, bracing the upcoming era of "decellphoneisation". Identified trends in the report also suggest that AR software will be more oriented toward consumer groups, growing daily in the aspects of shopping, entertainment, and education.

Earlier this year Deloitte predicted that VR would enjoy its first billion-dollar year, providing new opportunities to businesses that want to create more immersive experiences for consumers.

2016 has been hailed as the year of VR, which has been reflected in the attractions sector with the debut of a number of high profile VR attractions, such as Galactica at Alton Towers and Derren Brown’s Ghost Train at Thorpe Park.

A number of VR headsets have also been, or are about to be, released publically, with devices including Oculus Rift, Playstation VR and HTC Vive all available in 2016.

The AR market has been elevated significantly by the rise of Pokémon GO, with the mobile game taking the world by storm following its release earlier in the year. Secretive AR company Magic Leap has also been making waves, releasing impressive examples of its ‘mixed-reality’ device, most recently partnering with Lucasfilm and promising to deliver a “legacy of exploration and leadership” on the new platform for experiential storytelling.

Augmented reality  virtual reality  AR  VR  visitor attraction  technology 
Related stories

Twitter is headhunting tech wizards for its new VR/AR division

'World's most technologically advanced stadium tour' debuts at Wembley

Pokémon Go sends augmented reality mainstream with phenomenal success

Magic Leap partners with Lucasfilm to create mixed-reality content

Magic Leap secures US$793.5m to develop mixed-reality lightfield device

An industry report on the virtual reality (VR) and augmented reality (AR) markets predicts that the sectors will be worth US$30bn (£22.7bn, €26.7bn) and US$90.8bn (£68.9bn, €80.9bn) respectively by 2020. The report by RnRMarketResearch.com, titled Global and China VR and AR Industry Report, 2016-2020, says VR will be less successful than AR due to the limitations of a head-mounted device owing to size and weight. According to the report, VR
VAT,COL,VID,TEC
Augmented reality via a mobile device has been buoyed by the success of Pokémon GO / Shutterstock.com
More news
News stories: 1 - 30 of 7580     
 
 
 
News stories: 1 - 30 of 7580     
 
 
 
company profile
Company profile: Gharieni Group GmbH
We strive for a seamless integration of functional equipment to create an unparalleled and memorable experience for clients.
videos
BluGalaxy a Division of Blu Spas
Blu Spas
This animation showcases the beautiful concept design of BluGalaxy Spa.
Try cladmag for free!
Sign up with CLAD to receive our regular ezine, instant news alerts, free digital subscriptions to CLADweek, CLADmag and CLADbook and to request a free sample of the next issue of CLADmag.
sign up
Interview: Olga Polizzi
Olga Polizzi is director of design for Rocco Forte Hotels and also owns two of her own hotels
"On Via Sistina, everything breathes history. At the same time I wanted to reflect the modern hunger for the fantastical - Tommaso Ziffer"

Following the highly anticipated launch of Rome’s Hotel de la Ville, Rocco Forte’s director of design reflects on a fascinating project

Catalogue Gallery
Click on a catalogue to view it online
To advertise in our catalogue gallery: call +44(0)1462 431385
Landscape design: Back to nature
Alan Metcalfe
"When people are a bit scared, they gather together"

Featuring a vibrating glass platform and one of the US’s longest tree canopy walks, Whiting Forest has been designed to bring visitors closer to nature and to one another

The architecture features clean lines and a diamond shape designed to represent the Dolomite mountains
"Wellness embraces the entire holiday experience"

The design of the newly-opened Lefay Resort and Spa Dolomitti in Italy aims to celebrate and protect its spectacular surroundings

features
"Most clients are very focused on how buildings are used and experienced as the primary design driver"

The MD of Schmidt Hammer Lassen and the CEO of PerkinsWill tell us why their merger will help create smarter buildings driven by human behaviour

The Electric Lemon restaurant features glamorous interiors by Rockwell Group
"Further hotels have been confirmed for Los Angeles, Santa Clara, CA, Seattle, Chicago and Houston"

Rockwell Group and Joyce Wang on the inspirations behind the guest rooms, public spaces, spa and gym at Equinox Hotel Hudson Yards

Marianne Shillingford
"The technology involved in paint is extraordinary"

Used cleverly, colour has the power to influence how people use the spaces they inhabit, says the creative director of Dulux

cladkit product news
LianTronics’ glasses-free 3D Star Trek LED screen attracts attention
Magali Robathan
LianTronics’ giant curved LED wall with stunning glasses-less 3D spaceship display effect has attracted many on the street of Chengdu, ...
ASPA International launches handheld UV-C light disinfection lamp
The compact plug-in product can be used easily in a commercial spa or domestic setting to disinfect surfaces with UV-C light
Megan Whitby
For over 30 years, ASPA International has designed and built high-quality spas for the hotel, health and wellness sectors. During ...
Painting with Light pushes boundaries to create unforgettable visual concepts
The team combines lighting, video, sound and special effects, with scenic and architectural elements, to create unforgettable visual experiences
Megan Whitby
Belgium-based light and video design studio, Painting with Light, will translate the story of your location into a visual experience, ...
cladkit product news
Christie laser projectors power new Five Senses Bubble dome theatre
The dome aims to integrate technology with arts and culture
Magali Robathan
Christie® GS Series 1DLP® laser projectors are delivering vivid and lifelike visuals in a new dome theatre located in Xiong’an ...
Siminetti unveils first glimpses of Mother of Pearl decorative surfaces inspired by the four seasons
The new winter design is finished with naturally occurring hexagonal patterns found in snowflakes
Megan Whitby
Siminetti has collaborated with British designer Chrisanna London to create a luxury Mother of Pearl decorative surface range inspired by ...
Atelier Alain Ellouz launches handcrafted precious stone lighting collection
LYRA has a sleek, cylindrical design complete with an elegant brass dimming switch
Megan Whitby
LYRA, GAMA, MONA and ATHENA are the first pieces from designer Atelier Alain Ellouz’s new.édition collection of handcrafted stone lighting ...
cladkit product news
Cosm unveils Experience Centre with ‘one of a kind’ LED dome
The new Experience Centre houses a 20m LED dome
Magali Robathan
Cosm, a global technology company that builds end-to-end solutions for immersive experiences, has unveiled its Experience Centre which houses a ...
Matteo Thun grows Allaperto collection with new suspended outdoor armchair
Megan Whitby
Allaperto, the lounge collection spawned by the partnership between design studios, Matteo Thun, Ethimo and Antonio Rodriguez, has been expanded ...
Móz Designs columns anchor the world’s largest indoor aquarium
The design of the columns was inspired by the sea
Magali Robathan
After a two-year renovation, Oakland-based metal experts Móz Designs have unveiled their inclusion in Georgia Aquarium’s new shark gallery. Located ...
x
Sign up with CLAD for regular news updates