Every year VR Intelligence – the organiser of the VRX conference – publishes a report on the XR industry, detailing growth and other trends in both the consumer and enterprise sectors. The XR Industry Insight Report 2019-2020 has recently been released, finding that enterprise use of virtual reality (VR) and augmented reality (AR) is far exceeding consumer adoption.
The report compiles information from interviews and surveys of more than 750 XR professionals to gauge the state of the XR industry as a whole. In an ever-growing trend, the report finds that most businesses involved in VR or AR development support themselves through corporate work, with almost half (49.2%) of respondents reporting that growth on the consumer side was weaker than expected, as opposed to just 25.7% in the VR for enterprise segment.
Naturally, developers are chasing this growth, with 73% of companies working on VR for enterprise functions while under 65% doing the same for AR/MR. When it comes to the consumer market less than half of these companies are working on VR and 37.4% working on AR/MR notes the report.
“One explanation of dip in XR for consumer applications may be the gaming industry; a significant source of early growth for XR, this years’ survey shows far less interest in gaming from XR technology companies: in 2018, 50% of respondents said that they intended to work within the gaming industry over the next 12 months, but this had fallen to just a third of respondents from the supply side of XR in the 2019 results,” notes Kathryn Bloxham, Events Director & Head of Innovation, VR Intelligence / VRX, in a statement.
On a more positive note, the report found that 93% of enterprise users said VR had had a positive impact on their business and 88.4% said the same for AR/MR. The next year may see an uptick in consumer XR thanks to new VR hardware being released in 2019, and a wider variety of AR content now available.
The VRX Conference & Expo will be returning for another year in December, held in San Francisco from 12th – 13th December 2019. There’s a strong lineup of speakers this year and tickets are still available starting at $399 USD for the Exhibition Floor pass. To save a bit more off the normal price use this VRFocus exclusive code – 5049VRFOCUS100. For further updates on VRX 2019, keep reading VRFocus.
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