A new report by the International Data Corporation (IDC) claims that virtual and augmented reality will be a $162 billion market within four years, and the company says this would represent an incredible 181.3 percent compound annual growth rate.
It is no secret that VR and AR are two of the most talked about trends in tech today thanks to high profile success stories like Pokemon Go and the release of impressive VR devices like Oculus Rift and HTC Vive.
According to the report, the popularity of VR with gamers will drive the demand for interactive content, but it will take a bit longer for non-gaming VR entertainment to catch on. Meanwhile,
Chris Chute, vice president of Customer Insights and Analysis at IDC, says that the growth of the VR/AR market is being driven not only my consumer content, but also by the business sector.
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