Video: Augmented and Virtual Reality Advancements in 2021

At the Consumer Electronics Show 2021 this week, augmented and virtual reality technologies will take center stage as one of the most promising technologies for this year and the upcoming decade. According to the IDC, worldwide spending on AR/VR technology will increase from $12 billion in 2020 to $72.8 billion by 2024 and account for two-thirds of all consumer electronic goods. In 2020, the COVID-19 pandemic forced many to adopt remote work and home lifestyles. As a result, many consumers invested in AR/VR technology as a way of socially distant interaction. TrendForce reported that 5.5 million AR/VR units were sold in 2020. The IDC also reported that 53 percent of all AR/VR sales in 2020 were for gaming entertainment purposes. By 2025, TrendForce predicts that 26 million units will be sold per year by 2023. The Consumer Technology Association, the host of CES, predicts that in 2021 AR/VR technology will dominate in various industries as people continue to explore different means of engaging with others and the world while maintaining socially distant and remote lifestyles.