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XR Industry Trends, Application, Growth Rate, and Future Forecast till 2027 | COVID-19 Effects

XR Industry Trends, Application, Growth Rate, and Future Forecast till 2027 | COVID-19 Effects

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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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

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.


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