The global extended reality (XR) market size is expected to reach USD 1,246.57 Billion in 2035 at a CAGR of 24.2% during the forecast period. Steady growth of market can be attributed to increasing investments and advancements in augmented reality (AR) and virtual reality (VR) technologies. Rapid advancements in connected devices, increasing use of smartphones and increasing adoption of 5G networks are some other key factors contributing to revenue growth of market. 5G is expected to circumvent various primary challenges concerned with extended reality by enabling optimized distribution of processing capabilities across the network.
Extended reality is gaining traction across professional and personal applications. Growing focus on improving customer experience across various sectors is a key factor driving market growth. Rapid advancements in technology are further supporting development of extended reality (XR) and this is expected to broaden the scope of extended reality to become as eminent as smartphones. For instance, Houzz, which is an online platform for home décor and remodeling, launched an augmented reality (AR) feature in April 2019 that allows shoppers to cover their floors with tiles virtually to understand how the tiles would look in their homes.
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The report further sheds light on the competitive landscape of the Extended Reality Market to offer the readers an advantage over others. The competitive landscape section of the report talks about the recent advancements in the R&D and technologies undertaken by the prominent players, along with their strategic business expansion plans, product launches, and brand promotions. The report pays special attention to the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, agreements, corporate and government deals, and others adopted by the prominent players of the industry to expand their market presence and gain a substantial market position.
Key players in the market include Accenture PLC, Qualcomm Technologies Inc., Softweb Solutions Inc., Varjo Technologies OY, SphereGen Technologies, Microsoft Corporation, Apple, Qualcomm Technologies Inc., Augray Ltd., and Intel.
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The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
Emergen Research has segmented the global extended reality market on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2021–2035)
Business Engagement
Customer Engagement
Application Outlook (Revenue, USD Billion; 2021–2035)
Virtual Reality (VR)
Augmented Reality (AR)
Mixed Reality (MR)
End-use Outlook (Revenue, USD Billion; 2021–2035)
BFSI
Education
Consumer Good & Retail
Industrial & Manufacturing
Healthcare
Media & Entertainment
Telecommunication & IT
Others
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Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Features of the Extended Reality Market Report:
The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
Evaluation of key current and emerging market trends and growth prospects
It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
Brief overview of industry with regards to research and development, technological advancements, and product development
In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario
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