PUBLISHER: Allied Market Research | PRODUCT CODE: 1266366
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266366
Extended reality is a newly coined term that refers to all immersive technology. The ones that are still in development as well as the ones humans already have, such as augmented reality (AR), virtual reality (VR), and mixed reality (MR). By fusing the virtual and "real" worlds together or by generating a completely immersive experience, all immersive technologies expand the reality human's experience. More than 60% of respondents, according to a recent study, thought XR would become widely used over the next five years.
Surge in increasing investments in extended reality and Increasing adoption of XR in healthcare industry primarily drive growth of the extended reality market. However, immoderate use of XR device has negative health effects and worldwide economic downturn because of COVID-19 hamper market growth to some extent. Moreover, continuous 5G technology advancements are expected to provide lucrative opportunities for market growth during the forecast period.
The global extended reality market is segmented on the basis of component, technology, end user and region. On the basis of component, it is bifurcated into hardware and software and services. On the basis of technology, it is segregated into VR technology, AR technology, and MR technology. On the basis of end user, it is classified into retail, healthcare, education, manufacturing, aerospace and defense, gaming, media and entertainment and others. On the basis of region, it is segregated into North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market include: Accenture Plc, Qualcomm Incorporated, Adobe Inc., Alphabet Inc., Microsoft Corporation, HTC Corporation, Softserve Inc., Unity Technologies, Sony Corporation, and Facebook. Furthermore, it highlights the strategies of the key players to improve the market share and sustain competition.