Global Extended Reality (XR) Market Overview:
Extended reality is an emerging technology from all immersive technologies, including augmented reality, virtual reality, mixed reality, and others. This technology helps in enhancing the experience by either merging the virtual or by generating a fully immersive experience. The market for XR technology having strong growth potential in the coming years such as with the help of VR, that artificial environment. By FY 2023, it is expected that high growth to reach over 68 million units, by looking at these major companies such as Microsoft and Intel is highly investing in XR technology to capture market opportunity. Some of the players profiled in the study are Accenture (Ireland), SoftServe (United States), IBM (United States), TXT e-solutions (Italy), Qualcomm Technologies, Inc. (United States), Microsoft (United Sates), Glenfield Corporation Pty Ltd. (Australia), Google (United States), Sony Corporation (Japan), HP (United States), Apple (United States) and Facebook (United States).
On the basis of geography, the market of Extended Reality (XR) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by , the sub-segment i.e. will boost the Extended Reality (XR) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Growing Demand from Various Domain Majorly from Healthcare Industry. This Industry is Using Augmented Reality for Taking Benefits from Digital Information Over Real Life Experiences
- Increasing Demand from The Tourism Industry as Augmented Reality Tools to Expand the Experience of Visitors to Museums
- High Adoption from Retail Industry to Enhance Shopping Experience
- Rapid Acceptance for the Navigation Solutions
- High Use for AR Powered Offerings for the Enterprise
- Trade Restrictions Between the US and China
- Continuous Development in Technologies Such as 5G, and Others
- Growing Requirement of VR in Aerospace & Defense for Training and Simulation
- Lack of Awareness Across Under Developed Regions
- Contrary Impact of Lockdowns Because of Covid-19 on Commercial Trade
Key Market Developments:
In Dec 2019, The Qualcomm announced globe’s first 5G supported extended reality platform in the area of mobile computing. It is having various advanced features such as advanced visuals, interactivity, and others. Through this initiative, the company becomes more competitive in the market.
The market is highly fragmented by market-leading players, those are highly focusing on production technologies, improving efficiency, and other service life. There are numerous growth opportunities in the market that are captured by tracking the ongoing process improvement and enhance financial flexibility by investing in market growth strategies.
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Extended Reality Providers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Extended Reality (XR) market on the basis of product  , application , key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Extended Reality (XR) market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Extended Reality (XR) industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Acer Inc. (Taiwan), Fox (United States) and The Walt Disney Company (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Extended Reality (XR) market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.