Press release
Extended Reality Display Market Poised for 34.7 % Growth, Set to Hit $8.32 Billion by 2029
Extended Reality Display Market Size
The extended reality display market has seen exponential growth in recent years. It will grow from $2.04 billion in 2024 to $2.78 billion in 2025, with a CAGR of 36.0%. This growth is attributed to research and usability testing, applications in gaming and entertainment, medical and healthcare uses, market research and advertising, and human-computer interaction.
The extended reality display market is expected to experience exponential growth, reaching $9.15 billion by 2029 at a CAGR of 34.7%. Growth drivers include the expanded use of VR and AR applications, e-commerce integration, health monitoring wearables, education sector adoption, and smart devices. Major trends include neuromarketing applications, wearable eye-tracking devices, automotive design and driver monitoring, healthcare applications, and remote work collaboration.
What Are the Key Drivers Behind the Growth of the Extended Reality Display Market?
The increasing use of smartphones is expected to promote the growth of the extended reality display market. Smartphones integrate mobile features with computing device functions, and extended reality displays merge digital information with the physical world through augmented and mixed reality. For example, in November 2024, Statistics Canada reported that 85% of Canadians accessed the internet via smartphones in 2022, with usage highest among individuals aged 25 to 34. This growing smartphone usage is driving the extended reality display market.
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Who Are the Major Industry Players Fueling Extended Reality Display Market Expansion?
Major companies operating in the extended reality display market report are Apple Inc., Alphabet, Samsung Electronics Co. Ltd., Microsoft, Meta Platforms Inc., Dell Technologies Inc., Sony Corporation, HP Development Company L.P., accenture* PLC, Qualcomm Technologies Inc., Koninklijke Philips N.V., Vuzix Corporation, Seiko Epson Corporation, Japan Display Inc., PTC Inc., Niantic Inc., Tata Elxsi Limited, Magic Leap, MAGIC LEAP Inc., HTC Corporation, EON Reality Inc., Talespin Reality Labs Inc., Kopin Corporation, Varjo Technologies Oy, Zappar, SphereGen Technologies LLC, Metaio, Softweb Solutions Inc.
Which Key Developments Are Influencing the Extended Reality Display Market?
Leading companies in the extended reality display market are focusing on developing cutting-edge technologies, such as spatial reality displays, to maintain their market positions. Spatial Reality Displays are sophisticated display technologies that offer users a more immersive and interactive experience by combining digital content with the real world in a 3D space. For example, in September 2023, Sony Corporation, a conglomerate based in Japan, launched a new Spatial Reality Display. This display offers a 3D experience without requiring glasses or a VR headset. It boasts a 27-inch 4K resolution screen with a full 100% Adobe RGB color gamut.
How Is the Segmentation of the Extended Reality Display Market Defined?
The extended reality display market covered in this report is segmented -
1) By Display Type: Liquid Crystal Displays (LCD), Organic Light-Emitting Diode (OLED), Other Display Type
2) By Component: Hardware, Software, Services
3) By Solution: Business Engagement, Consumer Engagement
4) By Application: Augmented Reality, Mixed Reality, Virtual Reality
5) By End-User Industry: Gaming And Entertainment, Healthcare, Education, Military And Defense, Automotive And Manufacturing, Retail, Other End-Users
Subsegments:
1) By Liquid Crystal Displays (LCD): Standard LCDs, Thin Film Transistor (TFT) LCDs, In-Plane Switching (IPS) LCDs
2) By Organic Light-Emitting Diode (OLED): Flexible OLED Displays, Rigid OLED Displays, Transparent OLED Displays
3) By Other Display Types: MicroLED Displays, Projection Displays, Digital Light Processing (DLP) Displays
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What Is the Leading Region in the Extended Reality Display Market?
North America was the largest region in the extended reality display market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the extended reality display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Extended Reality Display Global Market Report?
- Market Size Analysis: Analyze the Extended Reality Display Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Extended Reality Display Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Extended Reality Display Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Extended Reality Display Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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