By Chuck Martin
The global pandemic is projected to impact the augmented and virtual reality market, especially during the next two years.
The AR and VR market is now projected to reach $65 billion in revenue by 2024, according to a new, revised forecast by Digi-Capital.
However, the next two years VR and AR investments are expected to be impacted by COVID-19 related factors including physical lockdowns, brick-and-mortar retail closings, delivery limitations, supply chain disruption and economic impacts, according to the report.
The Digital-Capital full-year forecast for this year and next are reduced to the $1.5 billion to $2 billion range, compared to pre-COVID-19 levels.
Growth of the AR/VR market remains, but at a slower rate than anticipated pre-crisis.
AR and VR investments last year reached more than $4 billion but investments dropped in the last quarter of last year and the first quarter of 2020, both in deal volume and deal value.
