Extended Reality Market to Reach USD 111.5 billion by 2028 at a CAGR of 22.7% from 2023 to 2028

The extended reality market is projected to reach USD 111.5 billion by 2028 from USD 40.1 billion in 2023, at a CAGR of 22.7% from 2023 to 2028. The major factors driving the market growth of the extended reality market include availability of affordable VR devices, the increasing demand for extended reality in entertainment and gaming industry, and the surging adoption of extended reality in healthcare sector. Moreover, the requirement of incorporation of extended reality technology in aerospace & defense sector, and continuous developments in 5G technology are expected to provide ample growth opportunities for market players in the extended reality market.

Get a FREE Sample Report at https://www.reportsnreports.com/contacts/requestsample.aspx?name=7034815

The major players of extended reality market are Microsoft (US), Sony Group Corporation (Japan), Meta Platforms, Inc. (US), HTC Corporation (Taiwan), and Google (US), among others.

Extended Reality (XR) is an umbrella term that includes Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR). The XR market is expected to grow significantly in the coming years due to the increasing adoption of XR technology in various applications such as gaming, entertainment, education, and healthcare.

The gaming and entertainment industry is expected to be the largest application segment of the XR market during the forecast period, as XR technology provides immersive and interactive experiences to users. However, the healthcare and education sectors are also expected to witness significant growth, as XR technology can be used to train medical professionals and improve patient outcomes.

North America is expected to be the largest market for XR during the forecast period, followed by Europe and the Asia Pacific. The increasing adoption of XR technology in various industries and the presence of major XR companies in these regions are expected to drive the growth of the XR market in these regions.

Get 25% Discount on the Direct Purchase of the Global Extended Reality Market Research Report at https://www.reportsnreports.com/purchase.aspx?name=7034815

Overall, the XR market is expected to witness significant growth in the coming years, driven by the increasing adoption of XR technology in various industries and the development of advanced XR devices and applications.

+ 1 347 333 3771
sales@reportsandreports.com

ReportsnReports.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 95 leading global publishers & in-depth market research studies of over 5000 micro markets. With comprehensive information about the publishers and the industries for which they publish market research reports, we help you in your purchase decision by mapping your information needs with our huge collection of reports.

This release was published on openPR.