Market Highlights
In its research report, Market Research Future (MRFR), reflects that over the review period , the global market 2020 is expected to grow exponentially, ensuring substantial market valuation from USD 27 Billion in 2018, to USD 393 billion by 2025, and a healthy CAGR over the review period.
Drivers and Restraints
Increased investment in AR and VR technology, increased demand for improved customer experience, technological advances in display, motion tracking and the emergence of 5 G technology are some of the factors that drive market growth.
The lack of highly intensive connected infrastructure, interoperability issues of interactive 3D graphics and the power and thermal performance of standalone headsets are, however, some of the obstacles to the growth of the augmented reality market during the forecast period.
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Segmentation:
The Global Extended Reality Market has been Segmented Based on Type, Component, Delivery Model, End User, and Region.
The global, extended reality market was divided into hardware, solutions , and services by component. In addition , the market was sub-divided by hardware into sensors , cameras, transducers, and speakers. The market is sub-segmented by services into professional services and managed services. The hardware segment represented the largest market share in 2018 and expected to dominate the market during the forecast period due to falling sensor prices and advances in motion tracking technology. On the other hand, the services segment is expected to display the highest CAGR over the forecast period.
Based on sort, the XR market is classified into Mobile XR and PC-tethered XR. Due to the availability of seamless cloud-based solutions which can be easily integrated with other hardware modules, the PC-tethered XR segment accounted for the larger market size. The mobile XR segment, however, is expected to witness the highest CAGR over the forecast period. The growth in the market is attributed to increased demand for wearable technology.
The market was segmented into consumer-based and business-based, by the distribution model. Business-based involvement accounted for the greater size of the market due to an rise in demand for digital technology that will help them improve profitability of workers and performance of employees.
In addition , the global XR market, based on end-users, was categorized as healthcare, media and entertainment, manufacturing and industrial, retail and e-commerce, transportation, and others. Due to the early adoption of AR and VR headsets, the Media and entertainment segment accounted for the largest market share in 2018. However, during the forecast period, the healthcare segment is presumed to register the highest CAGR due to an increased need for advanced imaging technologies for delicate surgeries.
Regional Assessment
The global market geographic overview was conducted in four major regions including Asia Pacific , North America, Europe and the rest of the world.
In 2018 , North America represented the largest market share and expected to dominate the global XR market during the forecast period. Market growth can be attributed to increased investments in augment reality (AR ) and virtual reality (VR) by tech giants such as Qualcomm Incorporated, Microsoft Corporation, and Google
During the assessment period the Asia-Pacific is expected to be the fastest-growing geography on the extedend reality (XR) market. Market growth can be attributed to an increase in the number of vendors offering AR and VR-related training services and increased adoption of AR and VR technology in the media and entertainment sectors.
Competitive Analysis
The major market players operating in the global market as identified by MRFR are HP Reveal (US), Qualcomm Incorporated (US), Gofind Inc. (US), Dassault Systèmes SolidWorks Corporation (France), Accenture (Ireland), Agile Lens (US), Semcon (Sweden), Medtronic (US), Tata Exlsi (India), Northern Digital Inc. (Canada), AugRay (US), Softserve (US), Mirari LLC (US), SphereGen (US), Talespin (US), and VRee (The Netherlands).
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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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Extended Reality Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the extended reality market include Augray Ltd., HTC Corporation, Microsoft Corporation, Northern Digital Inc., Qualcomm Technologies Inc., SoftServe Inc., Softweb Solutions Inc., SphereGen Technologies, and VertexPlus Softwares Pvt.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Extended Reality Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/extended-reality-market/download-sampleMarket DynamicsThe rising penetration of smartphones and mobile gaming is the significant factor that drives the extended reality market across the glob e. In addition, a rise in the adoption of augmented & virtual reality solutions in many diverse industries such as education, entertainment, and healthcare also boosts the market growth.
Moreover, the use of extended reality technology in the healthcare sector reduces costs, and improving outcomes for individuals without taking risking, propels the demand.
However, the lack of infrastructure and interoperability issues of immersive 3D graphics are some of the hindering factors for the growth of the market during the forecast period.
Extended Reality (XR) Market:WiseGuyReports.com adds “Extended Reality (XR) Global Market Report 2020-26” reports to its database.Executive SummaryExtended Reality is an umbrella term that encompasses both augmented reality and virtual reality, therefore covers a full spectrum of real and virtual environments.
XR experience caters to business issues and creates innovative solutions to add efficiency and increase productivity to meet critical client need.
The Extended reality is gaining large demand from healthcare sectors therefore global spread of COVID-19 Virus will drive the growth of market over the forecast years due to its inherent features.
As it helps in developing innovative healthcare solutions and providing advent of efficiency and productivity to healthcare professionals in various clinical and research methodology.
However, Security and Privacy Issues Associated with Augmented Reality is the factor limits the growth of market over the forecast years.Request Free Sample Report @ https://www.wiseguyreports.com/sample-request/5387189-global-extended-reality-xr-market-size-study-byThe regional analysis of global Extended Reality (XR) market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World.
The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
The report "Extended Reality Market with COVID-19 Impact Analysis by Technology (AR, VR, MR), Application (Consumer, Commercial, Enterprises, Healthcare, Aerospace and Defense), Offering, Device Type, and Region(North America, Europe, APAC) - Global Forecast to 2026", is expected to grow from USD 33.0 billion in 2021 to USD 125.2 billion by 2026, at a CAGR of 30.6%.
The market growth can be attributed to several factors, such as surging deployment of extended reality in education sector and industrial training, rising demand for extended reality devices and technology in global automotive industry, surging adoption of extended reality in healthcare sector, and increasing demand for extended reality in entertainment and gaming industry.
The growth of the VR devices segment of the market is expected to be led by HMD.
The consumer segment of the market comprises gaming and entertainment applications wherein AR technology is used to create 3D visual objects in the real world.
VR technology also offers remarkable results regarding visual effects when used in gaming and sports broadcasts.
Some of the key companies operating in the market are Microsoft (US), Sony (Japan), Oculus VR (Facebook) (US), HTC (Taiwan), Google (US), Samsung Electronics (South Korea), Apple (US), PTC (US), Seiko Epson (Japan), and so on.
