Extended Reality Market Forecasts to 2028 – Global Analysis By Technology (Virtual Reality Technology, Mixed Reality Technology, Augmented Reality Technology), End User (Industrial, Healthcare, Energy), and By Geography
According to Stratistics MRC, the Global Extended Reality Market is accounted for $22.58 billion in 2020 and is expected to reach $168.88 billion by 2028 growing at a CAGR of 28.6% during the forecast period. Factors such as increasing adoption of smart devices, growing adoption of augmented & virtual reality solutions, and advancements in technologies are driving the growth of the market. However high installation and maintenance cost is hampering the growth of the market.
Extended reality (XR) is a term for all immersive technologies such as augmented reality (AR), virtual reality (VR), and mixed reality (MR). All these immersive technologies extend reality experience by either blending virtual and physical worlds or by creating a fully immersive experience.
Based on the end user, the consumer segment is anticipated to expand at a rapid pace during the forecast period owing to the flourishing gaming, sports, and entertainment sectors. By geography, North America is going to have high growth during the forecast period which can be attributed to the growing use of smartphones and surging demand for extended reality technology in various applications.
Some of the key players profiled in the Extended Reality Market include Softweb Solutions Inc., VertexPlus Softwares Pvt. Ltd., Apple, Talespin Reality Labs Inc., SphereGen Technologies, Microsoft, Google, Seiko Epson, Qualcomm Technologies Inc., PTC, Oculus VR, Northern Digital Inc., Samsung Electronics, HTC, SoftServe Inc, Facebook, Sony, Accenture PLC, and Varjo Technologies OY.
Estimated Market Size in 2020:
USD 22.58 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 168.88 billion
Tables, Graphs& Figures
Offering, User, Device Type, Technology, Organization Size, End User, Platform and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Device Types Covered:
• Virtual Reality Devices
• Mixed Reality Devices
• Augmented Reality Devices
• Virtual Reality Technology
• Mixed Reality Technology
• Augmented Reality Technology
Organization Sizes Covered:
• Large Enterprises
• Small & Medium-Sized Enterprises
End Users Covered:
• Industrial & Manufacturing
• Healthcare & Life Sciences
• Aerospace & Defense
• Other End Users
• Personal Computer (PC)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Extended Reality Market is majorly driven by increasing adoption of smart devices, growing adoption of augmented & virtual reality solutions, and advancements in technologies.
The consumer segment is growing at a highest CAGR owing to the growth of gaming, sports, and entertainment sectors.
North America dominated with a significant market share due to the factors such as growing use of smartphones and rising demand for extended reality technology in various applications across the region.
Asia Pacific market is growing at a highest CAGR owing to the increasing awareness related to advanced technologies.
Key players in Extended Reality Market include Softweb Solutions Inc., VertexPlus Softwares Pvt. Ltd., Apple, Talespin Reality Labs Inc., SphereGen Technologies, Microsoft, Google, Seiko Epson, Qualcomm Technologies Inc., PTC, Oculus VR, Northern Digital Inc., Samsung Electronics, HTC, SoftServe Inc, Facebook, Sony, Accenture PLC, and Varjo Technologies OY.
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