With 46.20% CAGR, Extended Reality (XR) Market to Reach US$ 465.26 Billion by 2027 | Industry Report, Forecast and Top Companies

IMARC Group has recently released a new research study titled "Extended Reality (XR) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

The global extended reality (XR) market reached a value of US$ 42.86 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 465.26 Billion by 2027 exhibiting a CAGR of 46.20% during 2022-2027. Extended reality (XR) refers to a set of computer-generated graphic interactions and technologies, including augmented reality (AR), virtual reality (VR), and mixed reality (MR). These solutions deliver an immersive experience to users by combining real and virtual environments. XR optimizes workflow, engineers products in the manufacturing industry, and creates a human-machine interface (HMI). Apart from this, XR assists in performing various organizational operations, including diversity and inclusion (D&I), hiring procedures, onboarding, and training staff.

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Global Extended Reality (XR) Market Trends:

The widespread adoption of the work from home (WFH) model, especially during the coronavirus disease (COVID-19) pandemic, has facilitated the extensive deployment of EXR in various companies to execute virtual meetings and enable employees to visualize the corporate ecosystem. This is primarily driving the market growth. Additionally, the increasing demand for XR in the healthcare sector for creating surgery simulators to conduct educational training for medical students and diagnose patients' health conditions is propelling the market growth. Apart from this, the growing popularity of gesture-based computing and the advent of state-of-the-art gaming consoles to provide an immersive experience to players, and rising awareness amongst consumers regarding the availability of XR technology is expanding the product demand in the market.

Extended Reality (XR) Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the extended reality (XR) market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Augray
• Dassault Systèmes SolidWorks Corporation (Dassault Systèmes SE)
• Medtronic PLC
• Microsoft Corporation
• Qualcomm Incorporated
• Samsung Display Co. Ltd. (Samsung Electronics Co. Ltd.)
• Semcon
• SoftServe Inc.
• Softweb Solutions Inc. (Avnet Inc.)
• SphereGen
• Varjo
• VertexPlus Softwares Pvt. Ltd.

Key Market Segmentation:

The report has segmented the extended reality (XR) market on the basis of component, type, organization size, application and end user industry.

Breakup by Component:

• Hardware
• Software
• Services

Breakup by Type:

• Consumer Engagement
• Business Engagement

Breakup by Organization Size:

• Consumer Engagement
• Small and Medium-sized Enterprises
• Large EnterprisesBusiness Engagement

Breakup by Application:

• Virtual Reality (VR)
• Augmented Reality (AR)
• Mixed Reality (MR)

Breakup by End User Industry:

• Education
• Retail
• Industrial and Manufacturing
• Healthcare
• Media and Entertainment
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Key Highlights of the Report:                                                           

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.