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Extended Reality Market Size – USD 45.63 Billion in 2020, Market Growth – at a CAGR of 24.2%, Market Trends –High utilization in education sector.
— Emergen Research
VANCOUVER, BC, CANADA, May 2, 2023 /EINPresswire.com/ — Emergen Research has recently published a comprehensive research study titled “Extended Reality Market is Growing Rapidly”, indicating a rising interest in Extended Reality research in the year 2023.
The global extended reality (XR) market is expected to reach a market size of USD 1,246.57 Billion at a steady CAGR of 24.2% in 2035, according to latest analysis by Emergen Research.
The extended reality (XR) market is witnessing high growth due to increasing investments in Augmented Reality (AR) and Virtual Reality (VR) technologies, and rapid advancements in various technologies and connected devices. Increasing penetration of 5G technology is further expected to propel adoption of extended reality technology. In addition, 5G is expected to address some of the primary challenges related to extended reality by paving the way for more optimized distribution of processing capabilities to the network.
Extended reality is gaining popularity in both professional and personal applications. Increasing focus on enhancing customer experience is another key factor driving growth of the market. Technological advancements are contributing to further developments in XR technology, which will widen the scope for XR to become as prominent as mobile phones. In April 2019 for instance, Houzz, which is an online platform for home design and remodeling, launched a new augmented reality feature that enables shoppers to virtually cover their floor with tiles – true to scale – to get an idea of how it would look in their homes.
Extended reality depends on an organization’s data, infrastructure, cloud capabilities, and clear vision for the design. Lack of highly connected infrastructure and power and thermal efficiency of standalone headsets hampers deployment and is expected to negatively impact market growth to a certain extent. The COVID-19 pandemic has propelled usage of XR technology as businesses become more reliant on AR and VR tools. Growing work from home trend has also been leading to an increasing number of companies shifting to virtual events and conferences where people can interact. Market players are exploring extended reality solutions to create next generation of virtual events.
To gain genuine analysis and a thorough understanding of the market, interested parties can request a sample of the report. https://www.emergenresearch.com/request-sample/524
(The report sample includes a brief introduction to the research report, a table of contents, a graphical presentation of regional analysis, a revenue analysis of the top players in the market, and a detailed explanation of the research methodology.)
The sample report we provide may consist of the following elements:
An introduction to the updated report for the year 2035, including a comprehensive overview and in-depth industry analysis.
A 250+ page research report with updated research findings.
Chapter-wise guidance available upon request.
Updated regional analysis for the year 2023, presented with graphical representations of size, share, and trends.
An updated list of tables and figures included in the report.
The updated report includes a list of top market players, along with their business strategy, sales volume, and revenue analysis.
Important information in the market study
The research offers thorough analysis and futuristic insights into the industry in several different regions. See how the most important regional growth drivers and restraints will affect market development and gain a grasp of uncertainty.
In order to understand how the demand across various segments will change over the following few years, evaluate market size statistics and projections. Get a thorough understanding of new market trends and developments to evaluate market prospects.
➛ Learn more about the competition by having access to in-depth data and research on important industry players.
Philips, Accenture PLC, Qualcomm Technologies Inc., Softweb Solutions Inc., Varjo Technologies OY, SphereGen Technologies, Microsoft Corporation, Apple, Qualcomm Technologies Inc., Augray Ltd., and Intel
Extended Reality Market – Segmentation Assessment
Type Outlook (Revenue, USD Billion; 2021–2035)
Business Engagement
Customer Engagement
Application Outlook (Revenue, USD Billion; 2021–2035)
Virtual Reality (VR)
Augmented Reality (AR)
Mixed Reality (MR)
End-use Outlook (Revenue, USD Billion; 2021–2035)
BFSI
Education
Consumer Good & Retail
Industrial & Manufacturing
Healthcare
Media & Entertainment
Telecommunication & IT
Others
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Regional Analysis:
» North America: United States, Canada, and Mexico
» South & Central America: Argentina, Chile, Brazil and Others
» Middle East & Africa: Saudi Arabia, UAE, Israel, Turkey, Egypt, South Africa & Rest of MEA.
» Europe: UK, France, Italy, Germany, Spain, BeNeLux, Russia, NORDIC Nations and Rest of Europe.
» Asia-Pacific: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia and Rest of APAC.
Detailed financial ratios of the past five years: Latest financial ratios obtained from the annual financial statements of companies with a history of five years.
The Emergen Research study is expected to provide the following benefits:
Latest industry trends and development scenario for 2023
Identification of powerful market opportunities to help with market sizing
Key decision-making insights for planning and expanding market share
Identification of key business segments, market proposition, and gap analysis
Assistance in allocating marketing investments
Updated methodology from Emergen Research to ensure accurate and reliable findings.
Global Extended Reality Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Global Extended Reality Market Dynamics
3.1. Extended Reality Market Impact Analysis (2020-2035)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Global Extended Reality Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2020-2035)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
➟ What is the primary factor driving the global Extended Reality market?
➟ What are the market’s restricting factors?
➟ Who are the major market participants?
➟ Which region has the greatest market share?
➟ What are the most current global Extended Reality market trends?
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