Inside The Box

Top Technology Trends: Virtual Reality, Artificial Intelligence and Drone Manufacturing

Published: 09/2016

Industry experts agree that 2016 will be a breakout year for virtual reality. According to the studies that have been done, virtual-reality device sales will reach 14 million units worldwide and its first billion-dollar year in 2016, with about $700 million in hardware sales and the remainder from content. That should increase to 18 million units in 2017 and 22 million by the end of 2018. In 2020, sales could reach 38 million units worldwide.

AI technologies include cognitive computing, deep learning, machine learning, predictive application programming interfaces, natural language processing, image recognition, and speech recognition. The AI market is estimated to grow from USD 419.7 million in 2014 to USD 5.05 billion by 2020, at a compound annual growth rate (CAGR) of 53.65% between 2015 and 2020.

The Unmanned Aerial Vehicles (UAV) sector comprises companies that design and manufacture commercial, recreational, and military drones. The size of the global commercial drone market was estimated to be USD 552 million in 2014, and the market is expected to witness significant growth, reaching USD 5.59 billion by 2020, growing at a compound annual growth rate (CAGR) of 32.22% between 2015 and 2020.

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