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

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

Spending on AR and VR in China is forecast to be $13.1 billion by 2026, up from $2.1 billion last year, making it the world’s second-largest market, the report showed. Global spending may jump to $74.7 billion, from $14.7 billion during the same period.

Virtual reality accounts for 70 percent of the investment in the two technologies in China, according to IDC. Gaming is the leading user scenario for VR, accounting for nearly a third of usage, followed by VR for training and collaboration. These three subcategories should make up more than half of China’s virtual reality market in the next five years.

The reality enrichment sector is growing with an increasing number of consumer products available. Consumer-centric goods are projected to account for nearly 40 percent of the entire AR and VR market by 2026. Education, healthcare, and professional services fields are expected to embrace immersive technologies, making up more than 28 percent. of its use.

Editing: Emmi Laine, Xiao Yi