consumers will spend $27 billion on AR and VR next year

In just a few years, augmented reality (AR) and virtual reality (VR) became one of the hottest tech trends, with millions of users worldwide. From social interactions in VR games and photo editing to the enhanced and personalized shopping experience, AR and VR apps have found their use across different markets. According to data presented …

The post Consumers to Spend $27B on Virtual and Augmented Reality Next Year, 25% More than in 2022 appeared first on

In only a few years, augmented reality (AR) and digital reality (VR) have become one of the freshest tech trends, with tens of thousands of customers globally. From social interactions in VR video games and picture editing to the improved and personalised purchasing experience, AR and VR apps have discovered their use throughout one-of-a-kind markets.

According to data provided by trading platforms, international customer spending on augmented and digital facts is expected to reach nearly $27 billion in the following year, a 25% increase over 2022.

AR spending is expected to reach $14 billion, with VR revenues increasing by 27% year on year.

Virtual reality has been on the verge of turning mainstream for years. But, after a number of the largest tech players, like Meta, joined the VR game, the enterprise is getting nearer to that moment.

In 2022, customers globally are forecast to spend nearly $10 billion on VR hardware and software programs, in line with a Statista survey. With the whole marketplace thriving, consumer spending will leap by 27% to $12.7bn in the subsequent year. Statista expects VR hardware sales to hit $9.39bn in 2023, displaying a 23% YoY increase. VR software spending is set to increase by 40% to $3.3 billion.

The AR marketplace has long since moved a ways from Snapchat filters and Pokemon Go, the most famous examples of this era, and sales figures verify that. Consumer spending on AR software and hardware will reach $11.5 billion in 2022, rising by another 20% to nearly $14 billion the following year.

AR software program sales, the most important sales move in the entire market, will grow by 10% year on year to $11.6 billion in 2023.On the other hand, AR hardware sales will more than double, growing from $1.04bn to almost $2.4bn globally.

2.2 Billion People to Use AR and VR Technology Next Year

Statistics display that maximum AR/VR sales come from the United States, China, and Japan, because those are the pinnacle 3 markets. In 2022, US customers are forecast to spend $6.1bn on AR and VR, or 22% of the full spending. This figure is expected to increase by 20% to $7.5 billion in the coming year.

China, the second-biggest marketplace, may also witness a 20% increase next year, with AR and VR sales growing from $4.five to $5.5bn. Japanese customers will spend $1.63bn on AR and VR in 2023, up from $1.31bn this year.

Besides surging sales, the whole enterprise may also witness a superb consumer increase. Statista expects the entire marketplace to have over 2.2 billion people next year, or two hundred million more than in 2022.

Consumers will spend $27 billion on virtual and augmented reality next year, a 25% increase from this year. more than in 2022, according to 

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