Beyond Reality: Exploring the Transformative Impact of Industrial XR

The Global Spread of the Industrial Metaverse is Pushing the Boundaries of Innovation Cultures in Cross industry Applications

This research service examines the transformational potential of extended reality (XR) and analyzes its impact on cross-industry applications, including employee training, assembly-line validations, asset inspection, product design and testing, warehouse optimization, quality control, and research and development (R&D). The restrictions imposed by the COVID-19 pandemic induced some revolutionary changes in manufacturing processes. The use of XR technologies for remote team productivity and customer support increased significantly during the pandemic as a response to the strict lockdowns, increasing awareness about the benefits these technologies can unlock. As global technology giants such as Google, Apple, Meta, and Microsoft continue to work on the Metaverse, investing billions of dollars in spatial computing technologies, the demand for immersive experiences in cross-industry verticals is expected to increase significantly in the coming 3 to 5 years.

The study highlights the factors driving and restraining growth in XR applications by industry vertical and identifies the opportunities emerging from this space for industry stakeholders to leverage. The base year is 2022, and the forecast period is 2023 to 2028.