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Extended Reality Market 2023-2032: Key Insights, New Technologies, Future Development And Major Players | Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Meta Platforms Inc
The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032The Business Research Company's Extended Reality Global Market Report 2023 identifies Increasing government initiatives as the major driver for the Extended Reality Market's growth in the forecast period. Government initiatives are the initiatives various governments take to support a particular industry or area in a country. Several government authorities, such as the Dubai government, are initiating several initiatives for the development of extended reality and thereby supporting the country's digital transformation.
The global extended reality market is expected to grow from $34.56 billion in 2022 to $44.62 billion in 2023 at a compound annual growth rate (CAGR) of 29.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The extended reality market is expected to reach $123.77 billion in 2027 at a CAGR of 29.1%.
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Major competitors in the Extended Reality Market are Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Meta Platforms Inc., Sony Corporation, Qualcomm Incorporated, NVIDIA Corporation, Adobe Inc., Seiko Epson Corporation, Dassault Systemes SE, PTC Inc., Unity Technologies Inc, SoftServe Inc., Tata Elxsi Ltd., Semcon AB, HTC Corporation, Northern Digital Inc., Varjo Technologies Oy, Talespin Reality Labs Inc., Ultraleap Ltd, Marxent Labs LLC, Vuzix Corporation, Avegant Corporation, Virtuix Inc., Worldviz LLC, Sixense Enterprises Inc., Daqri LLC, and The Void LLC.
A key trend in the Extended Reality Market includes product innovations. Major companies operating in the extended reality market are innovating new products to sustain their position in the market. For instance, in June 2023, Apple Inc., a US-based technology, launched Apple Vision Pro, a spatial computer that seamlessly merges digital content with the physical world. It features an ultra-high-resolution display system controlled by a user's eyes, hands, and voice, offering an intuitive and natural input system. The device runs on Vision, a spatial operating system that enables multitasking and infinite screen real estate. Vision Pro revolutionizes personal computing with its advanced hardware and software technologies by creating an immersive and interactive computing environment.
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The Extended Reality Market is segmented -
By Component: Hardware, Software, Services
By Technologies: Augmented Reality (AR) Technology, Virtual Reality (VR) Technology, Mixed Reality (MR) Technology
By End User: Gaming, Retail, Healthcare, Manufacturing, Media And Entertainment, Education, Aerospace And Defense, Other End Users
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Extended Reality Market.
The Business Research Company's "Global Extended Reality Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Extended Reality Market Include:
1. Executive Summary
2. Extended Reality Market Characteristics
3. Extended Reality Market Trends And Strategies
4. Extended Reality Market - Macro Economic Scenario
6. Extended Reality Market Segmentation
……
32. Global Extended Reality Market Competitive Benchmarking
33. Global Extended Reality Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Extended Reality Market
35. Extended Reality Market Future Outlook and Potential Analysis
36. Appendix
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