Press release
Shaping the Extended Reality (XR) Hardware Market share in 2025: Advancing Natural Sight Vision In XR Hardware For Enhanced Industrial Applications
Extended Reality (XR) Hardware Market share
In recent times, the size of the extended reality (XR) hardware market has significantly ballooned. The anticipated growth of this market is from $135.57 billion in 2024 to $192.8 billion in 2025, representing a compound annual growth rate (CAGR) of 42.2%. The surge experienced in the historical period is linked to a rising acceptance of gesture-based computing, a swelling trend for smaller smart devices, growing investments, easy access to inexpensive VR headsets, supportive government policies, and a surging demand for superior visual information.
Over the coming years, the expanded reality (XR) hardware market's size is predicted to witness substantial growth. The market size is set to reach $780.42 billion in 2029, reflecting a compound annual growth rate (CAGR) of 41.8%. This projected growth during the forecast period is fuelled by several factors such as burgeoning gaming and entertainment industries, intensifying competition and developments in component technology, rising usage of XR for business solutions, increasing embracement of technology and digital literacy, along with growing adoption of XR in the healthcare industry. The key trends observed during the forecast period include technological progress, advancements in component technologies, escalating needs for marketing and advertising campaigns, advances in internet connectivity, and ceaseless novelties in XR software and hardware.
What Is Driving the Growth Trajectory of the Extended Reality (XR) Hardware Market?
The anticipated growth of the extended reality (XR) hardware market is being fueled by the expansion of the video gaming industry. This sector includes the development, promotion, and revenue generation from video games. The game industry has been radically transformed by the internet, with online multiplayer experiences, game streaming, and digital distribution platforms revolutionizing business models and player involvement. Extended Reality (XR) hardware boosts the video gaming sector by offering immersive and interactive experiences, enabling high-quality graphics and innovative game mechanics, and fostering social interaction and physical activity. For instance, the Entertainment Software Association, a US-based trade association, and Circana, a US-based media firm, reported in February 2024 that total video game sales in the US reached $57.2 billion in 2023, up from $56.6 billion in 2022. Furthermore, expenditures on video game content rose to $48.0 billion from $47.5 billion, propelled by a 13% increase in digital download spending on console platforms and an 11% rise in digital premium downloads on PC, cloud, and non-console VR platforms. Thus, the growth of the video gaming sector is accelerating the expansion of the extended reality (XR) hardware market.
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Who Are the Dominant Companies Influencing Extended Reality (XR) Hardware Market Trends?
Major companies operating in the extended reality (XR) hardware market are Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Dell Technologies Inc., Sony Group Corporation, Lenovo Group Limited, Intel Corporation, Qualcomm Incorporated, ASUSTeK Computer Inc., Epson America Inc., Acer Inc., SoftServe Inc., Unity Software Inc., Dynabook Inc., Tata Elxsi, Magic Leap Inc., High Tech Computer Corporation (HTC), Varjo Technologies Oy, SphereGen Technologies LLC, Vuzix Corporation, Xreal Inc
How Is the Extended Reality (XR) Hardware Market Evolving?
Prominent businesses in the XR hardware market are leading in product innovation, integrating advanced technologies like natural sight vision into their offerings. The goal is to enrich user engagement within virtual and augmented settings. Natural sight vision technology prioritizes high resolution and superior clarity to enhance the user's perception of reality and immersion in an XR environment. For instance, Varjo, a company based in Finland known for its virtual, augmented, and mixed reality headsets, launched the XR-4 series in November 2023. The series, comprising of XR-4, XR-4 Focal Edition, and XR-4 Secure Edition, boasts features like high-resolution displays, foveated capture, sophisticated LiDAR depth sensing, and gaze-directed autofocus cameras. The XR-4 series is designed to offer a mixed reality experience that is nearly synonymous with natural sight, primarily aimed at industrial application usage.
What Are the Different Segmentations in the Extended Reality (XR) Hardware Market?
The extended reality (XR) hardware market covered in this report is segmented -
1) By Solution: Consumer Engagement, Business Engagement
2) By Application: Virtual Reality (VR), Augmented Reality (AR), Mixed Reality (MR)
3) By End-User: Education, Retail, Industrial And Manufacturing, Healthcare, Media And Entertainment, Other End-Users
Subsegments:
1) By Consumer Engagement: Gaming And Entertainment, Virtual Tours, Social Media Experiences, Retail And E-commerce, Education And E-learning
2) By Business Engagement: Employee Training And Development, Remote Collaboration, Product Design And Prototyping, Sales And Marketing, Customer Support And Service
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Which Region Is at the Forefront of the Extended Reality (XR) Hardware Market?
North America was the largest region in the extended reality (XR) hardware market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the extended reality (XR) hardware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Extended Reality (XR) Hardware Global Market Report?
- Market Size Analysis: Analyze the Extended Reality (XR) Hardware Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Extended Reality (XR) Hardware 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 (XR) Hardware Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Extended Reality (XR) Hardware Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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