Market Research Future Insights:
According to a comprehensive research report by Market Research Future (MRFR), “Global Extended Reality Market information by Type, by Components, by End User and Region – forecast to 2030” the market was valued at USD 18.4 Billion in 2022; it is expected to reach USD 457.06 Billion by 2030 with a CAGR of 58.2%.
Currently, extended reality (XR) is in a nascent phase, encompassing virtual reality (VR), augmented reality (AR), and mixed reality (MR) technologies. XR represents an immersive technology that integrates on-device processing, 5G connectivity, and edge cloud processing to deliver highly digital experiences featuring photorealistic visuals. The convergence of AR and VR technologies allows end-users, including individuals and businesses, to engage with thoroughly digitalized content through standalone headsets. Moreover, industry experts predict a shift in XR technology from bulky standalone headsets to smart glasses that offer real-time information, schematics, and relevant visuals.
Key Players:
- Vree
- Talespin
- Qualcomm Incorporated
- Spheregen
- Tata Exlsi
- HP reveal
- Semcon
- GO Find
- Agile lens
- Nothern digital
- Medtronic
- Augray
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Scope of the Report – Extended Reality (XR) Market:
|
Report Metrics |
Details |
|
Market Size by 2030 |
USD 457.06 Billion |
|
CAGR during 2022-2030 |
58.06% |
|
Base Year |
2021 |
|
Forecast |
2022-2030 |
XR Market Drivers
Market growth is driven by several factors, including advancements in head-pose tracking, substantial investments in AR and VR technology, a growing demand for improved customer experiences, and technological progress in display, motion tracking, and the introduction of 5G technology.
Nevertheless, obstacles to the extended reality market’s growth during the forecast period include a lack of highly robust connected infrastructure, challenges with interoperability in immersive 3D graphics, and concerns related to the power and thermal efficiency of standalone headsets.
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Segmentation:
The global extended reality industry is categorized into various segments, including type, component, delivery model, and end-user.
In terms of components, the industry is divided into hardware, solutions, and services. The hardware segment is further broken down into sensors, cameras, transducers, and speakers. Meanwhile, the services segment is further subdivided into professional services and managed services.
The global extended reality market is classified by type into mobile XR and PC-tethered XR. In the realm of delivery models, the industry is segmented into consumer-based and business-based.
The end-user segment of the global extended reality market covers various sectors, including healthcare, retail and e-commerce, media and entertainment, manufacturing and industrial, transportation, and others.
Browse In-depth Market Research Report (111 Pages, Charts, Tables, Figures) Extended Reality (XR) Market– https://www.marketresearchfuture.com/reports/extended-reality-market-8552
Regional Analysis:
The global extended reality industry is geographically segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.
As of 2018, North America held the largest market share and is anticipated to maintain its dominance in the global XR market throughout the forecast period. This leadership is fueled by advancements in augmented reality (AR) and virtual reality (VR), coupled with substantial investments from tech giants such as Qualcomm Incorporated, Microsoft Corporation, and Google, propelling market growth.
In the evaluation period, Asia Pacific is poised to be the fastest-growing region in the extended reality (XR) market. This growth is attributed to the increasing number of vendors offering training services for AR and VR applications and the rising adoption of AR and VR technology in the media and entertainment sectors.
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