A report by the International Data Corporation predicts that global spending on augmented reality (AR) and virtual reality (VR) will total $12.7 billion in 2020, a yearly increase of 43.8%.
China is expected to account for 55% of worldwide AR/VR spending in 2020 ($6.6 billion), while Europe represents 15% of the market, an estimated $1.6 billion.
Major Chinese tech companies have accelerated efforts to develop and promote VR and AR devices and software this year as COVID-19 expanded China’s digitalisation. HTC VIVE, a pioneer in the VR industry, has created VR interactive lessons to enable Chinese carriers, like Air China, to give their employees a more “realistic experience” when training them.
