According to IMARC Group’s latest report, titled “Extended Reality (XR) Market Size: Global Industry Trends, Share, 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 blend of human and computer-generated graphics that encapsulate augmented reality (AR), mixed reality (MR), and virtual reality (VR). These technologies aid in delivering an immersive experience to the user by combining real and virtual environments. Extended reality assists in optimizing the workflow, creating a human-machine interface (HMI), engineering products, and enabling consumers to virtually try clothes, shoes, and other wearables.
COVID-19 scenario-
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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The deployment of the work from home (WFH) model due to the ongoing coronavirus disease (COVID-19) pandemic and the imposition of consequent lockdowns has led to an increase in the demand of extended reality in various organizations for performing virtual meetings and enabling working professionals to visualize the corporate ecosystem. In line with this, the increasing utilization of XR in the healthcare industry to create surgery simulators, conduct educational training for medical students, and diagnose the health conditions of patients are propelling the market growth. Other factors, such as significant technological advancements, easy accessibility of gaming peripherals, and the rising awareness regarding several benefits of XR and its widespread adoption in the education sector, are creating a positive outlook for 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 level from 2022-2027. Our report has categorized the market based on component, type, organization size, application and end user industry.
Competitive Landscape:
- Accenture PLC
- Augray
- Dassault Systèmes SolidWorks Corporation (Dassault Systèmes SE)
- Medtronic PLC
- Microsoft Corporation
- Qualcomm Incorporated
- Samsung Display Co. Ltd. (Samsung Electronics Co. Ltd.)
- Semcon
- SoftServe Inc.
- Softweb Solutions Inc. (Avnet Inc.)
- SphereGen
- Varjo
- VertexPlus Softwares Pvt. Ltd.
- Hardware
- Software
- Services
- Consumer Engagement
- Business Engagement
- Small and Medium-sized Enterprises
- Large Enterprises
- Virtual Reality (VR)
- Augmented Reality (AR)
- Mixed Reality (MR)
- Education
- Retail
- Industrial and Manufacturing
- Healthcare
- Media and Entertainment
- Others
- 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)
- 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
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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