Extended Reality (XR) Market: —
Extended Reality is an umbrella term that encompasses both augmented reality and virtual reality, therefore covers a full spectrum of real and virtual environments. XR experience caters to business issues and creates innovative solutions to add efficiency and increase productivity to meet critical client need. The Extended reality is gaining large demand from healthcare sectors therefore global spread of COVID-19 Virus will drive the growth of market over the forecast years due to its inherent features. As it helps in developing innovative healthcare solutions and providing advent of efficiency and productivity to healthcare professionals in various clinical and research methodology. Along with healthcare, the Extended reality is having large usage in various end use industries such as gaming, movie & entertainment, retail, and tourism etc. For instance: as per Jabil Inc., XR has over 76% of usage in gaming industries, 60% of usage in movie & entertainment, 34% in retail and over 30% of usage in tourism etc. However, Security and Privacy Issues Associated with Augmented Reality is the factor limits the growth of market over the forecast years.
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The regional analysis of global Extended Reality (XR) market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rapid growth in technological advancement & innovation within the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising demand of Extended reality from various end-use industries such as Healthcare, gaming, education & retail etc. in the region would create lucrative growth prospects for the Extended Reality (XR) market across Asia-Pacific region.
Major market player included in this report are:
Dell Technologies Inc.
HP Development Company LP
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players. The detailed segments and sub-segment of the market are explained below:
Virtual Reality (VR)
Augmented Reality (AR)
Mixed Reality (MR)
By End-User Industry:
Industrial & Manufacturing
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Extended Reality (XR) Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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