(Yicai Global) May 26 -- China’s market for augmented and virtual reality will expand quicker than any other in the next five years, according to data consultancy IDC.

The Chinese market's annual compound growth rate should be 43.8 percent from 2022 to 2026, compared with a 38.5 percent clip globally, IDC said in a report published on its website today.

Spending on AR and VR in China is predicted to be USD13.1 billion by 2026, up from USD2.1 billion last year, making it the world’s second-largest market, the report showed. Global spending may jump to USD74.7 billion, from USD14.7 billion over the same period.

VR accounts for 70 percent of investment in the two technologies in China, according to IDC. Gaming is the leading user scenario for VR, accounting for almost a third of its use, followed by VR for training and collaboration. These three sub-categories should constitute more than half of China's VR market in the next five years. 

The reality-enriching sector is growing with an increasing number of consumer products available. Consumer-focused goods are predicted to make up nearly 40 percent of the entire AR and VR market by 2026. The education, healthcare, and professional services fields are expected to adopt the immersive technologies, constituting more than 28 percent of their use.

Editor: Emmi Laine, Xiao Yi