Research identifies the importance of TV streaming platforms and devices in the emergence of internet video services such as Netflix, Amazon Prime Video and Hulu. Streaming video is increasingly viewed on TV screens rather than mobile devices, particularly during the pandemic, and TV streaming platforms will become a dominant force in video streaming in many countries as demand for traditional pay TV, broadcast and home video platforms declines.
Read MoreGrowth in worldwide and European* AR/VR spend will decline in 2020 compared to the pre-COVID-19 forecast scenario according to the June release of the International Data Corporation (IDC) Worldwide Augmented Reality (AR) and Virtual Reality (VR) Spending Guide. Marked reductions in IT spend and an economic downturn due to the pandemic will slow worldwide AR/VR spend to $10.7 billion — a tempered 35.3% growth from the $7.9 billion spent in 2019. But the long-term outlook remains strongly positive — IDC estimates a five-year compound annual growth rate (CAGR) in AR/VR spending of 76.9% worldwide in 2019–2024 to reach $136.9 billion by 2024.
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