Press release
Extended Reality (XR) Market 2022 Disclosing Latest Trends and Advancement Outlook 2027
The Extended Reality (XR) Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Extended Reality (XR) market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Extended Reality (XR) market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Extended Reality (XR) market.Extended Reality (XR) Market is valued at USD 26.05 Billion in 2020, and is expected to reach USD 463.7 Billion in 2026, registering a healthy CAGR of over 62.67% during the forecast period (2021 - 2026).
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Top Leading Companies of Extended Reality (XR) Market are - Qualcomm Technologies Inc., Acc-enture PLC, SoftServe Inc., SphereGen Technologies, Northern Digital Inc., Microsoft Corporation, Softweb Solutions Inc., VertexPlus Softwares Pvt. Ltd., Varjo Technologies OY, Talespin Reality Labs Inc. and others.
Industry News and Updates:
- May 2020 - Qualcomm Technologies Inc. partnered with global operators, smartphone OEMs and XR viewer manufacturers to deliver XR viewers to consumers and enterprises within the next year. Fifteen global operators, including China Mobile, China Telecom, China Unicom, Deutsche Telekom, EE, KDDI, KT, LG Uplus, NTT DOCOMO, Orange, SK Telecom, SoftBank, Telefonica, Verizon and Vodafone, have shared plans to sample and commercialize XR viewers to provide immersive, never-before-experiences over 5G. Aditionally, XR viewers can unlock a new generation of immersive experiences using 5G-enabled smartphones that provide high bandwidth and low latency, which is essential for high-quality XR.
- February 2020 - Acc-enture opened its third Innovation Hub in India, expanding its innovation capabilities for clients. The Acc-enture Innovation Hub in Pune provides an immersive environment for clients to co-innovate with Acc-enture experts in a variety of industries and across a range of advanced technologies, including extended reality, artificial intelligence, the internet of things, blockchain and quantum computing, among others. The Innovation Hub in Pune will seamlessly integrate with the Innovation Hub in Bengaluru and the Innovation Hub in Hyderabad, and will bring the best of innovations and capabilities from India using state-of-the-art collaboration technologies. The new Innovation Hub will have more than 1,200 people working out of it, and will feature Acc-enture’s second Nano Lab in the Asia-Pacific region.
Key Market Trends:
Consumer Engagement is Gaining Traction Owing to the Emergence of Immersive Platform
- XR devices create the illusion to make people feel as if they are in an entirely new digital world. Such technologies have been praised for its ability to create virtual tours in the stores and destinations, rehabilitate brain injury, and virtually inspect the interior and exterior design of a car which no existing technology could do. Given its enormous potential, XR technology has been increasingly applied and studied in a plethora of fields, ranging from tourism, education, retailing, gaming and healthcare to manufacturing.
- Extended reality (XR) solution allows rich data to be easily accessible in a situational context, creating virtually unlimited opportunities in the market. Future-thinking enterprises are incorporating extended reality into their internal processes as well as product and service delivery. It provides higher customer engagement, significant time efficiency improvement, and a significant reduction in human error.
North America to Remain the Largest Market Over the Forecast Period
- North America is one of the prominent regions for the extended reality market. It has also been a pioneer in the adoption of innovations, which provides North America with an edge over the other regions.
- Educational institutions across the United States Department of Education is using a virtual platform to help students with autism and learning disabilities in schools, across the country. In 2018, the Office of Special Education and Programs announced an investment of USD 2.5 million towards a new program that will use XR to nurture social skills in students with disabilities.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Extended Reality (XR) Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Extended Reality (XR) Market (%),2016 - 2026
- Extended Reality (XR) Market Share, By Brand
- Extended Reality (XR) Market Share, By Company
- Extended Reality (XR) Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Extended Reality (XR) Market Value Analysis & Forecast
- Promising Extended Reality (XR) Development by Major Companies
- Detailed Extended Reality (XR) Portfolio of the Major Companies
- Major Deals in the Extended Reality (XR) Market
- Major Companies Analysis
Browse Full Report at:
https://www.marketinsightsreports.com/reports/02082592685/extended-reality-xr-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=namita
We Offer Customization on Report Based on Specific Client Requirement:
- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
Contact Us:
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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