The predicted VR boom that was being touted last year has so yet to really materialise in 2017.
Despite heavy investment, truckloads of hype and an ever-growing army of start-ups, consumers haven’t yet really warmed to the technology.
In the B2B and enterprise application space, however, VR/AR looks to be gathering momentum.
Research firm Tractica predicts that enterprise spending will outstrip consumer spending on VR/AR in the next few years.
Tractica estimates a CAGR of 60% for enterprise spending on VR hardware and content from 2016 – 2021, up from $592.3 million to $9.2 billion.
This is around 35% higher than the firms estimate for consumer spending over the same period.
AR gaining more traction than VR?
Separate research by Tech Pro Research suggests that it will be AR rather than AR that will gain more traction with enterprises over the coming years.
The research builds upon a Digicapital capital report from April that estimated that the enterprise market would reach $150 billion by 2020, of which only $30 billion would be VR.
The Tech Pro Research found that while knowledge of VR (89%) was more widespread than AR (80%), 39% of those companies surveyed were already using some form of AR.
Interestingly, when it comes to future plans, AR is a clear winner.
Of those not using AR currently, 67% of organisations are considering it for future use, with 20% planning to utilise it in the next 12 months.
For VR, 47% of non-users are considering its implementation and 13% plan to do so in the next year.