Global Extended Reality market is expected to grow at a CAGR of 55% during 2021-2026

The burgeoning application of AR and VR from employee training, industrial use to navigation, and in healthcare for diagnosis etc., thus is projected to be a major reason for the growth of extended reality during the forecast period. The Global Extended Reality market is anticipated to attain a CAGR of 55% during 2021-26. The factors driving the market growth are increasing technological advancement in spatial computing application, perennial innovation and advancement in VR headsets and controllers and increasing investment by the countries in the fifth generation of mobile networks is further supporting the development of extended reality.

Key questions answered in the study
1. What are the current and future trends in the global Extended Reality market?
2. How the market has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global Extended Reality market?
5. What are the customer orientation, purchase behaviour, and expectations from the global Extended Reality market service provider across various regions?

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COVID-19 has Inclined People More Toward into Virtual Environment.

According to the MarkNtel Advisors’ research report, “Global Extended Reality Market Analysis, 2021”, the market is expected to grow at a CAGR of around 55% during 2021-26. The restricted imposition due to the outbreak of COVID-19 has inclined people more toward into virtual environment. A large number of a start-up in Ed-tech firm has been witnessed during the pandemic. Ed-tech companies are increasingly investing in VR/AR technology to improve their yearning to learn. Besides this, the gaming industry experienced robust growth due to an increase in the adoption of XR and a boost in the demand for mobile and handheld AR applications. However, the market in the forthcoming years is further expected to grow at a robust rate.

“Global Extended Reality Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots and opportunities available for Extended Reality providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

For detailed analysis, visit: https://www.marknteladvisors.com/research-library/global-extended-reality-market.html

Mobile XR Accounted for Highest Share

Based on Type, the market is bifurcated into Mobile XR, PC-tethered XR, Windows. Mobile XR accounted for the highest market share in the Global Extended Reality market in 2019. The increasing investment by the companies in mobile computing is placing a positive impact on mobile XR. The introduction of 5G and AI will benefit the extended reality technology. Besides this, the burgeoning application of XR in smartphone or in PC to provide an immersive experience to the customer is further anticipated to augment the growth of the Extended Reality market in the forecast period as revealed by MarkNtel Advisors’ research report “Global Extended Reality Market Analysis, 2021”.

According to MarkNtel Advisors, the major leading players in the global Extended Reality market are Facebook Inc, Alphabet Inc. (Google Inc.), HTC Corporation, Unity technologies, Microsoft Corporation, Samsung Electronics CO., LTD, Magic Leap, Sony Corporation, Vuzix Corporation, Atheer, PTC, Apple Inc., Eon Reality, Niantic Inc., Snap Inc. etc.

Market Segmentation:
1. By Component (Hardware [Sensors, Cameras, Transducers, Speakers], Services [Professional Services, Managed Services], Software [Handheld Mobile Apps, Content Creation & Software Engines, Development Suit])
2. By Type (Mobile XR, PC-tethered XR, Windows)
3. By Delivery Mode (Consumer Based [Gaming, Entertainment, Others], Business Based [Manufacturing & Production, Healthcare, Others])
4. By Organization Size (Small & Medium-Sized, Large Enterprises)
5. By Application (Virtual Reality, Augmented Reality, Mixed Reality)
6. By End-User (BFSI, Healthcare & Life Sciences, Telecommunications & IT, Government & Public Sector, Manufacturing, Consumer Goods & Retail, Media & Entertainment, Others)
7. By Region (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
8. By Country (U.S, Canada, Mexico, Brazil, Argentina, Italy, Spain, Germany, France, The U.K, China, South Korea, Japan, India, Australia, UAE, Saudi Arabia, South Africa)
9. By Competitors (Facebook Inc, Alphabet Inc. (Google Inc.), HTC Corporation, Unity technologies, Microsoft Corporation, Samsung Electronics CO., LTD, Magic Leap, Sony Corporation, Vuzix Corporation, Atheer, PTC, Apple Inc., Eon Reality, Niantic Inc., Snap Inc.)

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