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XR/AR/VR/MR Software Improvements – Immersive Technology Software – Image: Xpert.Digital

More immersive technology software improvements and solutions that will have the biggest impact on consumers in the next two years, according to XR/AR/VR/MR industry experts in the US in 2020.

Improved application experiences as well as privacy and cybersecurity measures are what many XR industry experts expect from immersive technology software in the next two years. These solutions were highlighted by 63 percent and 55 percent of respondents, respectively, in a 2020 survey.

What are the top immersive technology software improvements/solutions that will have the biggest impact on consumers in the next two years?

• 63% – Improved application experience (e.g. improved app design)
• 55% – Improved privacy and cybersecurity measures
• 54% – Seamless and ubiquitous connectivity to the internet and cloud services
• 40% – Reduced bugs/errors
• 36% – Improved compatibility with other technologies

XR/AR/VR/MR Hardware Improvements – Immersive Technology Hardware – Image: Xpert.Digital

Further improvements and solutions for immersive technology hardware that will have the biggest impact on consumers in the next two years, according to XR/AR/VR/MR industry experts in the US in 2020.

The introduction of smaller devices and the development of sleek and stylish devices are what many XR industry experts expect from immersive technology hardware in the next two years, as highlighted by 42 percent of respondents in a 2020 survey.

What are the key improvements/solutions in immersive technology hardware that will have the biggest impact on consumers over the next two years?

• 42% – Introduction of smaller devices
• 42% – Developing slim and fashionable devices
• 39% – Development of comfortable devices
• 39% – Improved 3D design interface
• 34% – Improved form factors
• 33% – Lower friction
• 32% – Improved detection of facial gestures and hand movements
• 28% – Better sensing of the environment for improved object detection
• 27% – Better field of vision
• 22% – Better immersive audio experiences
• 21% – Introducing new headsets
• 1% – Other

Suitable for:

• Xtended: Extended Reality for business and industry
• Economic factor XR technology

Extended Reality (XR) – market size worldwide 2021-2024 – Image: Xpert.Digital

The global augmented reality (AR) and virtual reality (VR) market is expected to reach $18.8 billion in 2020. That would be an increase of over 78 percent compared to spending in 2019.

Augmented (AR), virtual reality (VR) and mixed reality (MR) market size worldwide from 2021 to 2024 (in billion US dollars)

• 2021 – 30,7
• 2022 – 58,7
• 2023 – 124,4
• 2024 – 296,9

What is AR/VR?

AR/VR technology uses sensory devices to either virtually alter a user's environment or completely immerse them in a simulated environment. Virtual reality devices typically consist of specially designed headsets that provide complete visual immersion in a simulated environment, while augmented reality is based on headsets that add virtual elements to the user's actual environment. In 2020, AR/VR headset sales are expected to reach 5.5 million units. When it comes to VR/AR device sales by manufacturer, Sony's PlayStation VR and Facebook's Oculus VR headsets are the top VR headsets currently sold on the market.

VR and games

An important area of ​​​​application for VR headsets is gaming, as these devices allow players to have an immersive experience in the game world, be it a fantasy land or the driver's seat of a racing car. There are various VR gaming headsets available, including headsets for PC, console and premium mobile devices, as well as standalone devices. In 2019, of the total VR gaming device shipments worldwide, 2.8 million units of standalone VR gaming headsets were shipped. VR headsets are becoming increasingly popular among gamers and are seen as an important platform for future growth by 37 percent of global game developers surveyed.

Global AR/VR Spending Forecast – Image: Xpert.Digital

Forecasted spending on augmented and virtual reality (AR/VR) worldwide in 2020 (in billion US dollars), by segment.

Expenditure in billion US dollars

• 6.36 – Consumer
• 1.9 – Sales and Services
• 1.66 – Manufacturing and Resources
• 1.52 – Public sector
• 0.38 – Infrastructure
• 0.19 – Other

In 2020, consumer spending on augmented and virtual reality technologies (AR/VR) is expected to reach around $6.36 billion, while sales and services sector spending will reach nearly $2 billion be forecast. Total AR/VR spending worldwide is expected to be $12 billion in 2020, with this figure expected to increase significantly to reach $72.8 billion by 2024.

Suitable for:

• The need and demand for XR technologies is growing

AR consumption

AR technology is used in numerous industries such as healthcare, public safety, gas and oil, tourism and marketing. As the technology continues to improve, there is no doubt that AR's use cases will expand and evolve as businesses and consumers alike realize its full potential.

VR consumption

VR gaming and VR videos represent the largest use cases for VR technology, with $20.8 billion expected to be spent on these areas alone in 2023. However, experts believe that the benefits of VR will also have an impact on industry, as efficiency improvements are possible. By 2023, industrial use is expected to be three times greater than consumer use.

Global AR/VR Spending Forecast by Country – Image: Xpert.Digital

Forecasted spending on augmented and virtual reality (AR/VR) worldwide in 2020, by country (in billion US dollars). Expenditure figures were calculated based on the regional share and the total number of expenditures for 2020 provided by the source.

China is expected to spend the most on augmented and virtual reality (AR/VR) technologies in 2020, with projected spending of $5.8 billion. Total AR/VR spending worldwide is expected to reach $18.8 billion in 2020.

Global AR/VR spending forecast by country 2020

Expenditure in billion US dollars

• 5.8 – China
• 5.1 – United States
• 3.3 – Western Europe
• 1.8 – Japan
• 2.8 – Rest of the world

We provide you with further numerous insights into numbers, data and facts that can help you optimize and expand your strategic goals:

• Customer Demographics Library – Demographics Knowledge Base (PDF)
• Online Marketing Library (PDF)
• E-Commerce Library – Knowledge Base (PDF)
• Social Media Marketing Library – Knowledge Base (PDF)
• SEO Library – SEM knowledge database (PDF)
• Search Engine Advertising / SEA Library – Search Engine Advertising Knowledge Base (PDF)
• Extended Reality (XR) Library (PDF)