Extended Reality Market to Surge at a Robust Pace in Terms of Revenue Over 2030
Research Reports
Apr 29, 2022
Market Highlights
Extended reality is supposed to be a platform that mainly runs on immersive technologies. Augmented reality, virtual reality, and mixed reality are important elements in the extended reality concept. The connected devices increase the scope of the extended reality. Since the usage of smartphones is more by mobile users, they demand good quality video content, and to fulfil their demand; good quality video content is implemented by extended reality. The development of extended reality has also resulted in supportive technologies. Nowadays, extended reality is demanded in applications used for personal and professional purposes. So there is always a need to satisfy the customer. The extended reality service providers work seriously and ensure that the customer is satisfied. This factor of customer satisfaction is driving the extended reality market.
Further, due to the improvement and progress of the market, many investors are investing huge amounts in extended reality platforms. The demand for head pose tracking technology is increasing. The sectors like education, tourism, gaming, retail, and healthcare contribute to the market growth. The demand for sensors and eye-tracking cameras has increased. These factors drive the market towards growth.
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Segmentation:
The extended reality market can be segmented on component, delivery model, type, end-user, and region. According to the component category, the market is divided into hardware, software, and services segments. The hardware segment is further bifurcated into sensors, cameras, speakers, and transducers. The software and service segments are again divided into managed services and professional services. The type category can be divided into PC-tethered extended reality, and Mobile extended reality segments. The delivery model category can be divided into business-based and consumer-based segments. The end-user category can be divided into media and entertainment, retail, industrial, manufacturing, healthcare, e-commerce, and transportation. According to the regional category, the market is divided into North America, Europe, Asia-Pacific, and the rest of the world.
Regional Classification
Asia-Pacific is moving towards progress at a fast rate and may increase its contribution to market growth. The North American Segment in the regional category dominates the market as the investments made in research activities are high. Every segment of other categories contributes a share to the market growth.
Industry News
The global analysis of the extended reality market state that the market is expected to reach 393 billion US dollars at a 69.4% CAGR by the end of 2025. Technological improvements are required more in healthcare, retail, and gaming. When certain steps are taken to improve the technology in these sectors, it may provide a good opportunity to increase the extended reality market. The introduction of gesture-based computing in IT and telecommunication networks also may drive the market towards growth. The extended reality platform is a high-end technology and consists of many advanced features. Hence it requires professionals to handle it. Only when things are handled tactfully full benefit can be experienced. So lack of trained and experienced professionals may hamper the market growth.
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Extended Reality (XR) Market Research Report: By Component (Hardware [Sensors, Cameras, Transducers and Speakers], Software and Services [Professional Services Managed Services]), Type (Mobile XR and PC-tethered XR), Delivery Model (Consumer-Based and Business-Based), End User (Healthcare, Media and Entertainment, Manufacturing and Industrial, Retail and E-Commerce, Transportation and others) – Forecast till 2027
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