According to IMARC Group’s latest report, titled “XR Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." the study provides a detailed analysis of the industry, including the global XR market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global extended reality market size reached US$ 64.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 604.3 Billion by 2028, exhibiting a growth rate (CAGR) of 43.5% during 2023-2028.
XR is the amalgamation of all immersive technologies such as augmented reality (AR), virtual reality (VR), and mixed reality (MR). It relies on applications, headsets, and smart wearables that extend the reality by generating realistic sounds and images through digital materials. Nowadays, various enterprises are adopting XR for employee recruiting and training purposes. It is used to create a learning experience that is more interactive, engaging, and effective in the long term. Moreover, it is also utilized by established businesses to advertise their products and services while providing a unique experience to users.
What are the growth prospects and trends in the XR industry?
The market is primarily driven by the increasing number of employees working remotely through the cloud. XR enables employees to visualize the live environment of their offices, attend virtual meetings, and work more efficiently. Besides this, the expanding entertainment industry is also escalating the demand for XR technologies among users to experience live events such as concerts and sports competitions on smartphones remotely. In addition, the increasing number of individuals opting for professional online gaming represents another major growth-inducing factor. Moreover, XR is widely utilized in the healthcare industry to improve diagnostic efficiency. For instance, it is employed in modern imaging technologies, such as magnetic resonance imaging (MRI) and computerized tomography (CT) scans, which is creating a favorable market outlook across the globe. Furthermore, the growing awareness of the benefits associated with XR is anticipated to expand its applications across retail, defense, transportation, and travel and tourism industries.
Who are the key players operating in the industry?
The report covers the major market players including:
- Accenture PLC
- Augray
- Dassault Systèmes SolidWorks Corporation (Dassault Systèmes SE)
- Medtronic PLC
- Microsoft Corporation
- Qualcomm Incorporated
- Samsung Display Co. Ltd. (Samsung Electronics Co. Ltd.)
- Semcon
- SoftServe Inc.
- Softweb Solutions Inc. (Avnet Inc.)
- SphereGen
- Varjo
- VertexPlus Softwares Pvt. Ltd.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Hardware
- Software
- Services
Breakup by Type:
- Consumer Engagement
- Business Engagement
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Application:
- Virtual Reality (VR)
- Augmented Reality (AR)
- Mixed Reality (MR)
Breakup by End User Industry:
- Education
- Retail
- Industrial and Manufacturing
- Healthcare
- Media and Entertainment
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
Request for a PDF Sample of this Report: https://www.imarcgroup.com/extended-reality-market/requestsample
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St
City: Brooklyn
State: NY
Country: United States
Website: https://www.imarcgroup.com
