As CES goes virtual in 2021, forecasts show a mixed reality for AR/VR - Business Insider

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While interest in AR/VR tech is high within the industry, overall market growth will be hampered by economic conditions

AR will be a bigger area for innovation in 2021 compared with VR.Instead of over 120,000 people coursing through the halls of the Las Vegas Convention Center, the 2021 event will feature live and on-demand broadcasts and "virtual" exhibitor booths. Judging by the event schedule, however, it looks like VR and AR tech will be sidelined by big screen TVs, 5G phones, and connected cars.

Worldwide spending on AR/VR is forecast to accelerate out of the pandemic, growing from just over $12 billion in 2020 to $72.8 billion in 2024, to IDC. Devices will account for two-thirds of all AR/VR spending by 2024, but a lack of VR hardware from Facebook, Apple, and other leading consumer-focused tech companies will dampen consumer interest in VR in the near term.

Apple's inclusion of LiDAR technology in its newest iPhones will spur the inclusion of the technology in smartphones from other manufacturers.

 

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