Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Extended Reality Market Size is Expected to Grow from USD 141.5 Billion in 2023 to USD 2324.5 Billion by 2033, at a CAGR of 32.30% during the forecast period 2023-2033.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Extended Reality Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Application (Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR)), By Industry Vertical (Aerospace & Defense, Manufacturing, Automotive, Education, Media & Entertainment, Gaming, Healthcare, and Retail & E-Commerce), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
Extended reality is an umbrella term comprised of augmented reality (AR), virtual reality (VR), mixed reality (MR), and everything in between. Everyday consumer experiences are being revolutionized by extended reality, which is also changing a variety of industry sectors, including retail, healthcare, industrial manufacturing, and education. Opportunities for exposure to advanced technology and the growing popularity of smart devices boost the demand for extended reality experiences. The increasing use of extended reality in education, industrial training, healthcare, and gaming applications is driving the extended reality market. Further, the rising focus on developing affordable VR devices and the development of GenAI in extended reality applications are augmenting the market growth for extended reality. On the contrary, the high cost of XR experience owing to the expenses of headsets and tactile sensors can hamper the extended reality market.
The hardware segment dominated the market with the largest revenue share in 2023.
Based on the component, the extended reality market is classified into hardware, software, and services. Among these, the hardware segment dominated the market with the largest revenue share in 2023. The increasing spending on augmented and virtual reality technologies, along with quickening the development of other technologies and networked devices are driving the market in the hardware segment.
The virtual reality (VR) segment dominated the market with the largest revenue share in 2023.
Based on the application, the extended reality market is classified into augmented reality (AR), virtual reality (VR), and mixed reality (MR). Among these, the virtual reality (VR) segment dominated the market with the largest revenue share in 2023. Users can experience a three-dimensional environment in the real world through virtual reality. Through devices like VR headsets, glasses or gloves, and bodysuits, VR technology creates this immersive experience for customers.
The gaming segment accounted for the largest share of the extended reality market in 2023.
Based on the industry vertical, the extended reality market is classified into aerospace & defense, manufacturing, automotive, education, media & entertainment, gaming, healthcare, and retail & e-commerce. Among these, the gaming segment accounted for the largest share of the extended reality market in 2023. The increasing prevalence of AR/VR gaming technology with enhanced graphics capabilities is driving the market in the gaming segment.
The large enterprises segment held the largest market share of the global extended reality market in 2023.
Based on the enterprise size, the extended reality market is classified into large enterprises and small & medium enterprises. Among these, the large enterprises segment held the largest market share of the global extended reality market in 2023. The integration of extended reality into customer service and supporting functioning leads to its adoption in large enterprises, thereby bolstering the market in the large enterprise segment.
North America is estimated to hold the largest share of the extended reality market over the forecast period.
North America is estimated to hold the largest share of the extended reality market over the forecast period. The growing use of smartphones, the deployment of 5G, and the growing need for extended technology across various applications are driving the market. Further, the investments in infrastructure development that facilitates the XR integration, enabling unprecedented connectivity across the US and Canada are driving the regional market growth.
Asia Pacific is predicted to grow at the highest CAGR in the extended reality market over the forecast period. Industry-related startup companies around India are anticipated to expand to create worldwide solutions, according to a report titled "Accelerating India's Potential to Address the Global XR Opportunity." Further, the increased demand for low-priced extended solutions, ease of device availability, and flourishing e-commerce business are propelling the market.
Company Profiling
Major key players in the global extended reality market include Accenture, Apple Inc., Google, HTC Corporation, Meta Platforms, Inc., Microsoft, Northern Digital Inc., PTC Inc., Qualcomm Technologies Inc., Samsung Electronics Co., Ltd., Seiko Epson Corporation, SoftServe Inc., Sony Group Corporation, SphereGen Technologies LLC, and Others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the extended reality market based on the below-mentioned segments:
Global Extended Reality Market, By Component
Global Extended Reality Market, By Application
Global Extended Reality Market, By Industry Vertical
Global Extended Reality Market, By Enterprise Size
Global Extended Reality Market, By Regional Analysis
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