Extended Reality Market Size, Historical Growth, Analysis, Opportunities and Forecast To 2027
The global extended reality (XR) market is expected to reach a market size of USD 1,246.57 Billion at a steady CAGR of 24.2% in 2027, according to latest analysis by Emergen Research.
Extended reality is gaining popularity in both professional and personal applications. Increasing focus on enhancing customer experience is another key factor driving growth of the market. Technological advancements are contributing to further developments in XR technology, which will widen the scope for XR to become as prominent as mobile phones. In April 2019 for instance, Houzz, which is an online platform for home design and remodeling, launched a new augmented reality feature that enables shoppers to virtually cover their floor with tiles – true to scale – to get an idea of how it would look in their homes.
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Key questions answered in the report
What will be the market size in terms of value and volume in the next five years?
Which segment is currently leading the market?
In which region will the market find its highest growth?
Which players will take the lead in the market?
What are the key drivers and restraints of the market’s growth?
Key Highlights of Report
Global mobile augmented reality users are projected to reach 2.4 billion by 2023 due to enhanced consumer experience in media and entertainment sectors. The technology is not only limited to sports and music concerts and events to enrich fan experience, but is also being used across various sectors such as public safety, healthcare, marketing, and oil and gas, among others.
External reality is used in businesses to improve sales and devise new approaches for customer engagement. In August 2019, Indian telecom giant, Reliance Jio, launched Jio HoloBoard MR Headset, which offers mixed reality services. The headset will allow users to create a 3D hologram of a surface and place it in front of the user’s eyes. It will provide a cinematic experience in mixed reality education, movie watching, shopping, and hands-free video calling.
Extended reality is used in the healthcare sector to train employees to perform or experience surgeries without any risk of patient welfare. Patients and clinicians are able to access real-time reports on health conditions with the help of extended reality.
North America accounted for largest revenue share in the global extended reality market due rising adoption of the technology in the education system in countries in the region to help students with learning disabilities and autism. Rise in demand for XR technology in the U.S. military for training purposes will also propel market growth.
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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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
Major Regions play vital role in Travel Bags Market are:
North America
Europe
China
Japan
Middle East & Africa
India
South America
Others
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Report Objectives
Examine the size of the global Extended Reality market based on the parameters of value and volume.
Accurately calculate the market shares, consumption, and other essential aspects of different segments of the global Extended Reality market.
Explore the underlying dynamics of the global Extended Reality market.
Highlight significant trends of the global Extended Reality market based on factors including, production, revenue, and sales.
Extensively profile top players of the global Extended Reality market and showing how they compete in the industry.
Study manufacturing processes and the costs, product pricing, and various trends associated with them.
Analyze the performance of different regions and countries in the global Extended Reality market.
Forecast the market size and share of all segments and regions in the global landscape.
The global Extended Reality market research is carried out at the different stages of the business lifecycle from the production of a product, cost, launch, application, consumption volume and sale. The research offers valuable insights into the marketplace from the beginning including some sound business plans chalked out by prominent market leaders to establish a strong foothold and expand their products into one that’s better than others.
Research Methodology
Data triangulation and market breakdown
Research assumptions Research data including primary and secondary data
Primary data includes breakdown of primaries and key industry insights
Secondary data includes key data from secondary sources
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Extended Reality Market Segmentation & Impact Analysis
4.1. Extended Reality Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing demand for safety and security in transportation
4.2.2.2. Rising demand for operating efficiency
4.2.2.3. Growing demand for autonomous vehicles
4.2.2.4. Increasing demand for traffic management systems
4.2.3. Market restraints analysis
4.2.3.1. Cost-prohibitive Artificial Intelligence systems
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Extended Reality Market By Process Insights & Trends, Revenue (USD Million)
Chapter 6. Extended Reality Market By Learning Technology Insights & Trends Revenue (USD Million)
Chapter 7. Extended Reality Market By Application Insights & Trends Revenue (USD Million)
Chapter 8. Extended Reality Market Regional Outlook
Continued…
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