The Extended Reality Market report considers the COVID-19 pandemic as one of the key influencing factors of the Extended Reality Market. The report discusses in detail the positive and negative impact of the pandemic on the Extended Reality Market. The supply chain disruptions and economic volatility have altered the dynamics of the Extended Reality Market. The report explores the effects of the pandemic on the market and its key segments and regions. It also offers a forecast estimation of the market growth in a post-COVID-19 scenario.
The global extended reality (XR) market is expected to reach a market size of USD 1,246.57 Billion at a steady CAGR of 24.2% in 2035, according to latest analysis by Emergen Research.
The latest research report comprises an extensive analysis of the micro- and macro-economic indicators that influence the global market development during the forecast period of 2022-2035. The current trends of the Extended Reality market, combined with a wide array of growth opportunities, key drivers, restraints, challenges, and other critical aspects, have been vividly detailed in the Extended Reality market report. Furthermore, the report takes into account various market dynamics, which, in turn, generate a plethora of developmental prospects for the leading players involved in the of the Extended Reality industry.
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Key Highlights of Report
- Global mobile augmented reality users are projected to reach 2.4 billion by 2023 due to enhanced consumer experience in media and entertainment sectors. The technology is not only limited to sports and music concerts and events to enrich fan experience, but is also being used across various sectors such as public safety, healthcare, marketing, and oil and gas, among others.
- External reality is used in businesses to improve sales and devise new approaches for customer engagement. In August 2019, Indian telecom giant, Reliance Jio, launched Jio HoloBoard MR Headset, which offers mixed reality services. The headset will allow users to create a 3D hologram of a surface and place it in front of the user’s eyes. It will provide a cinematic experience in mixed reality education, movie watching, shopping, and hands-free video calling.
- Extended reality is used in the healthcare sector to train employees to perform or experience surgeries without any risk of patient welfare. Patients and clinicians are able to access real-time reports on health conditions with the help of extended reality
The latest report is the most recent study that offers 360° coverage of the Extended Reality industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Extended Reality market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Segmental Analysis
The global Extended Reality market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Extended Reality sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
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Emergen Research has segmented the global extended reality market on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2021–2035)
- Business Engagement
- Customer Engagement
Application Outlook (Revenue, USD Billion; 2021–2035)
- Virtual Reality (VR)
- Augmented Reality (AR)
- Mixed Reality (MR)
End-use Outlook (Revenue, USD Billion; 2021–2035)
- BFSI
- Education
- Consumer Good & Retail
- Industrial & Manufacturing
- Healthcare
- Media & Entertainment
- Telecommunication & IT
- Others
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Regional Analysis:
This section of the report offers valuable insights into the geographical segmentation of the Extended Reality market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.
The report classifies the global Extended Reality market into various regions, including:
- North America (U.S., Canada)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
Competitive Terrain:
The Global Extended Reality Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold
The leading market contenders listed in the report are as follows:
Accenture PLC, Qualcomm Technologies Inc., Softweb Solutions Inc., Varjo Technologies OY, SphereGen Technologies, Microsoft Corporation, Apple, Qualcomm Technologies Inc., Augray Ltd., and Intel.
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Report Highlights:
- The report conducts a comparative assessment of the leading market players participating in the global Extended Reality market.
- The report marks the notable developments that have recently taken place in the Extended Reality industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Extended Reality market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market.
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Key questions addressed in the report:
- Who are the leading players dominating the global Extended Reality Market?
- Which factors could potentially hamper the global market growth during the forecast period?
- Which regional market offers the most attractive growth opportunities to the companies operating in this market?
- How is the raw material availability affecting the demand for Extended Reality in this industry vertical?
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