We’ve already seen virtual reality (VR) and augmented reality (AR) make a huge impact on technology markets despite being on the market a surprisingly short period of time, and now the Consumer Technology Association (CTA) predict that 2018 will break records in terms of sales for dedicated AR and VR hardware and software.
It all stems from CES 2018, Las Vegas. The show is kicking off on Monday 8th January, and the CTA are seeing a record-breaking amount of AR and VR technology being displayed at the show, all of which you can read about right here on VRFocus.
Head-mounted displays (HMDs) and smart glasses are expected to sell just shy of 5 million units in 2018, with $1.2 billion USD in revenue, an estimated 10% growth year-on-year. AR smart glasses and HMDs are also expected to pick up steam quickly in the next five years.
You can already see the growth in the market at CES 2018, where the Augmented Reality Marketplace is 10% larger than last year, and the Gaming & Virtual Reality Marketplace will grow by 18%, making it the biggest year for the marketplace ever at CES 2018, Las Vegas, in terms of net square feet.
CES’s senior vice president, Karen Chupka, shares her excitement at having so many promising new AR and VR technologies at the show; “We’re thrilled with the impressive growth of AR/VR, reflecting that the sky is the limit with these emerging technologies. At CES, you’ll discover new ways to sense and experience the virtual world – innovative examples of why the value of AR/VR extends from gaming and entertainment to education and healthcare and beyond.”
The CTA’s Chairman of AR/VR Working Group, Mark Turner, believes the AR, VR and Mixed Reality (MR) markets will only grow as the public understands the technology; “It’s up to us in the industry to help consumers understand all the technology and content available right now in the AR/VR/MR space. The investments we’re seeing in these immersive technologies, coupled with other innovations – like wearables and voice search – point to an exciting future of truly pervasive personal computing. A future where your physical environment can morph between being your digital workplace and your digital fun place.”
Augmented, Virtual and Mixed reality technology is all progressing at an exponential rate, and we can’t wait to see what 2018 has to offer. For all of the latest, make sure to keep reading VRFocus.