High levels of growth predicted for AR and VR
Augmented reality and virtual reality is set to soar over the next few years, according to a study by CCS Insight, with the combined sectors anticipated to be worth more than $4 billion (£2.52bn) by 2018.
Building on the technology advancements made in recent years, sales of devices are expected to reach 2.5 million this year, with this rising to 24 million in three year's time. While VR is the obvious candidate for growth in the short term, particularly considering the interest of key players such as Google, Facebook , HTC and Sony, AR could find a market in industrial and business applications to improve communication and fulfilment.
"Despite the reputational damage done to the consumer smart glasses segment by Google Glass, companies have realised augmented reality can be used to increase productivity and cut costs," believes Ben Wood, chief of research at CCS Insight. "Over the next two years we're going to see the technology move out of trials into full-scale deployments. Companies that embrace augmented reality will gain a competitive advantage."