The year 2023 saw Canada as the frontrunner in augmented and virtual reality spending, closely trailed by the USA, PRC, and Western Europe. The growth from previous years is noteworthy, with Canada experiencing a robust surge, outpacing the USA. Western Europe showed consistent investment, whereas Central and Eastern Europe and Others reflected moderate increases. Notably, the five-year compound annual growth rate (CAGR) highlights a solid escalation in spending, particularly in North America and Western Europe.
Future trends to watch for:
- Increased investment in AR/VR for educational and industrial applications.
- Adoption driven by technological advancements and consumer gadget integration.
- The expansion of metaverse-related expenditures, predominantly in North America and China.
- Potential shifts due to regulatory developments and privacy concerns.
Top countries in Top Spenders on Augmented and Virtual Reality
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Canada | 83.7 | 2017 | |
| 2 | 2 USA | 77.1 | 2017 | |
| 3 | 3 PRC | 76.2 | 2017 | |
| 4 | 4 Western Europe | 75.9 | 2017 | |
| 5 | 5 Central and Easten Europe | 66.4 | 2017 | |
| 6 | 6 Others | 38.8 | 2017 |
