Extended Reality Market Is Anticipated To Grow From USD 25,310 Million In 2021 To USD 67,870 Million In 2030

The global extended reality market is anticipated to grow from USD 25,310 million in 2021 to USD 67,870 million in 2030.

A Extended Reality Market report 2023 provides a wealth of insights on the growth outlook of global Extended Reality market. It offers short-term and long-term growth projections of the market, banking on in-depth analysis of the various growth factors that are shaping up the market performance and would continue to do so. The report focuses on both direct and indirect, and positive and negative factors to provide a fact-based assessment. All the data that has been presented in report is extracted from authenticated sources to ensure their reliability.

Surveys conducted related to current and prospective market conditions of Extended Reality are strictly based on industry experts' opinions. Report coverage is broad and spans from key market dynamics and regional analysis to company profiles and expert recommendations. Growth driving and challenging factors are thoroughly examined to help readers focus on the most impactful aspects of growth. The study reveals a set of market growth constraints to provide sound knowledge about the existing and potential challenges to business growth, which would play an important role for Extended Reality companies while strategy designing.

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Segmentation:

On the basis of component, the extended reality market is segmented into Hardware and Software. On the basis of technology, the extended reality market is segmented into Virtual Reality, Augmented Reality, and Mixed Reality. On the basis of Application, the global Extended Reality market is segmented into Media & Entertainment, Retail, Real-estate, Education, Healthcare, Military & Defense, and Engineering. On the basis of End User, the global Extended Reality market is segmented into Personal and Commercial.

Company Profiles:

The key market players in the global extended reality market are Acer Inc., Atheer, Inc., Blippar.com Ltd., Dell Technologies Inc., EON Reality, Inc., Google, Inc., Honeywell International, Inc., HTC Corp., Magic Leap, Inc., Manus Machinae B.V., Microsoft Corp., Nokia Corp., Oculus VR LLC, Qualcomm Incorporated, Samsung Electronics Co., Ltd., Semcon, Sony Interactive Entertainment LLC, Varjo Technologies Oy, VirZOOM, Inc., Vuzix Corporation, and Others.

Geography:

On the basis of region, the global Extended Reality is segmented into North America, Middle East & Africa, Europe, Asia Pacific, and South America. North America is projected to capture a substantial revenue share in the global Extended Reality market over 2022-2030. The growth is attributable to the existence of multiple tech giants and the early adoption of the new technology in regions of US, Canada, and Mexico.

Impact of COVID-19 on the global Extended Reality Market:

The Covid-19 pandemic significantly increased the adoption of new Technologies across the globe. The crisis negatively impacted various businesses and disrupted the global supply chain. However, as the economies started to recover from the adverse impacts, new technology deployments witnessed a rapid acceleration. In the post COVID-19 scenario automation and efficiency are rapidly improving for business that are actively embracing the extended reality solutions. The pandemic has encouraged global businesses to rely on artificial intelligence, Augmented Reality, and virtual reality to increase productivity. Growing demands for enhanced customer experience some of the major factors that is bolstering the growth of the extended reality market in the post pandemic era.

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Extended reality is a technology that combines the real and virtual worlds to provide consumers a fully immersive virtual experience. It spans a wide spectrum of immersive technologies and is the convergence of three technologies: virtual reality, augmented reality, and mixed reality. The need for secure learning environments in schools and colleges as well as the freedom for students to experiment with new teaching techniques are expanding, and extended reality is witnessing this demand. The expansion of extended reality-based learning platforms is being driven by benefits like increases in learning rates.

Drivers:

Extended reality gives businesses a means to connect with potential customers by giving them methods to interact with their goods and services. Customers get superior experiences as a result compared to real-world services. Customer service is aided with extended reality technologies as well. The global market for extended reality is experiencing rising demand from sectors like education, media and entertainment, and retail. The number of webinars, conferences, meet-ups, and other events taking place entirely online is increasing, which is great news for business. With new ways to present and interact with virtual goods, extended reality is also experiencing a rapid expansion in marketing and promotion. Property owners are maximising real estate services by giving their tenants virtual tours of their properties as real estate is expanding quickly.

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Reasons to Purchase this Report:

1. Market dynamics scenario, along with growth opportunities of the market in the years to come.
2. Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects.
3. Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
4. Analyzing the outlook of the market with the recent trends and SWOT analysis.
5. Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
6. Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past years.
7. Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players.
8. Benchmark key therapy areas and indications in terms of the number of Extended Reality products and level of innovation and assess one's own strategic positioning against this backdrop.
9. Make key decisions about the role of innovation within one's own Extended Reality portfolio.

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