As ARKit demo apps continue to generate excitement for the launch of the iPhone 8, whose 3D cameras are expected to be optimized for augmented reality, IDC is predicting a profitable future for the technology …

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The market analysts forecast that total worldwide spending on VR and AR will increase from $11.4B this year to almost $215B by 2021.

Total spending on AR/VR products and services is expected to [achieve] a compound annual growth rate (CAGR) of 113.2% along the way. The United States will be the region with the largest AR/VR spending total in 2017 ($3.2 billion), followed by Asia/Pacific (excluding Japan)(APeJ) ($3.0 billion) and Western Europe ($2.0 billion).

The firm predicts what seems a rather conservative doubling in spend per year. With Apple popularizing AR through the iPhone 8 launch, and aiding development of apps through ARKit, the rate of growth seems likely to far exceed that in the twelve months from September at least.

We’ve already seen a variety of impressive AR demo apps, ranging from the mundane but useful through games and entertainment. We’ve even seen an example of how it could transform budget film-making.

Apple is expected to show off a number of AR apps at the iPhone 8 keynote, and is rumored to be working on AR glasses to launch at some later point.


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