There’s been roughly $4.1 billion spent in VR/AR funding since 2012. That’s been fairly consolidated, with companies like Magic Leap seeing massive raises. But the question is, how will funding shake out in the coming years?.

As we’ve written, funding won’t necessarily slow down but could become more careful and tempered as we move into the shakeout stage of VR’s industry life cycle. AR will follow that same course, but a few years behind VR.

Superdata has recently plotted the trajectory of funding levels so far, as a baseline for predicting what’s to come. Its biggest prediction is similar to one that we’ve made: AR investments will eclipse VR investments and accelerate faster.

Though we could see a dip in 2017 AR funding — due mostly to the outlier that was Magic Leap in 2016 — it will begin to accelerate next year, and see the majority of funding in immersive computing through 2020.

Check out the rest of Superdata’s analysis below and stay tuned for lots more (click to expand image).