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The future landscape of the Internet of Things will be largely occupied by virtual reality and augmented reality products and services.
With new entrants on the consumer hardware side like Sony’s just-released PlayStation VR, which is expected to sell millions of units by the end of the year, the VR and AR markets are growing.
The VR and AR market is forecast to grow by almost 30 times its size after 2020, according to a new study from Citi’s Global Perspectives and Solutions group.
In the next four years, the AR and VR market is forecast to grow to $80 billion. However, the market will grow to $2.16 trillion by 2035, according to Citi.
Another recent study by Machina Research forecasts the entire IoT market to reach $3 trillion by 2025. Almost half ($1.3 trillion) of that revenue will come directly from end-users paying for products and services, according to that study....
Virtual reality sales are projected to grow to $2 trillion long-term according to Cities Global Perspectives and Solutions.