According to IMARC Group’s latest report, titled “Extended Reality (XR) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.” the global extended reality (XR) market reached a value of US$ 42.86 Billion in 2021. Extended reality (XR) refers to a set of computer-generated graphic interactions and technologies, including augmented reality (AR), virtual reality (VR), and mixed reality (MR). These solutions deliver an immersive experience to users by combining real and virtual environments. XR optimizes workflow, engineers products in the manufacturing industry, and creates a human-machine interface (HMI). Apart from this, XR assists in performing various organizational operations, including diversity and inclusion (D&I), hiring procedures, onboarding, and training staff.
We are constantly tracing and assessing the impact of the COVID-19 pandemic on the industry. These influences have been covered in our report as significant market contributors.
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Global Extended Reality (XR) Market Trends:
The widespread adoption of the work from home (WFH) model, especially during the coronavirus disease (COVID-19) pandemic, has facilitated the extensive deployment of EXR in various companies to execute virtual meetings and enable employees to visualize the corporate ecosystem. This is primarily driving the market growth. Additionally, the increasing demand for XR in the healthcare sector for creating surgery simulators to conduct educational training for medical students and diagnose patients’ health conditions is propelling the market growth. Apart from this, the growing popularity of gesture-based computing and the advent of state-of-the-art gaming consoles to provide an immersive experience to players, and rising awareness amongst consumers regarding the availability of XR technology are expanding the product demand in the market. Looking forward, IMARC Group expects the market to reach a value of US$ 465.26 Billion by 2027 exhibiting a CAGR of 46.20% during 2022-2027.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global extended reality (XR) market, along with forecasts at the global, regional, and country levels from 2022-2027. Our report has categorized the market based on component, type, organization size, application, and end-user industry.
- Accenture PLC
- Dassault Systèmes SolidWorks Corporation (Dassault Systèmes SE)
- Medtronic PLC
- Microsoft Corporation
- Qualcomm Incorporated
- Samsung Display Co. Ltd. (Samsung Electronics Co. Ltd.)
- SoftServe Inc.
- Softweb Solutions Inc. (Avnet Inc.)
- VertexPlus Softwares Pvt. Ltd.
Breakup by Component:
Breakup by Type:
- Consumer Engagement
- Business Engagement
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Application:
- Virtual Reality (VR)
- Augmented Reality (AR)
- Mixed Reality (MR)
Breakup by End User Industry:
- Industrial and Manufacturing
- Media and Entertainment
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- The Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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