Extended Reality (XR) Market Exhibiting a CAGR of 46.20% during 2022-2027

SHERIDAN, UNITED STATES, November 15, 2022 /EINPresswire.com/ — 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. 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.

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.

Note: 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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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 is expanding the product demand in the market.

Key Market Segmentation:

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.

Based On Component:

Hardware
Software
Services

Based On Type:

Consumer Engagement
Business Engagement

Based On Organization Size:

Small and Medium-sized Enterprises
Large Enterprises 

Based On Application:

Virtual Reality (VR)
Augmented Reality (AR)
Mixed Reality (MR)

Based On End User Industry:

Education
Retail
Industrial and Manufacturing
Healthcare
Media and Entertainment
Others

Based On 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)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/extended-reality-market

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

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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