Extended Reality (XR) Market was estimated at ~US$ 31.5 billion in 2019. The market is anticipated to further grow at a CAGR of ~66 % from 2019 to 2030. Extended Reality (XR) is an immersive technology that refers to all real & virtual environments combined and human-machine interactions generated using computer technology and wearables. Extended Reality (XR) offers highly digital experiences with photorealistic visuals by integrating on-device processing, 5G, and edge cloud processing technologies. XR encapsulates Augmented Reality (AR), Virtual Reality (VR), Mixed Reality (MR), and everything in between.
The global extended reality market is driven by increased technological advancements and investments in AR&VR, expansion of the gaming industry, and rising demand for improved customer experience. Moreover, a rise in the penetration of smartphones & mobile gaming and increased adoption of augmented & virtual reality solutions in education is playing a pivotal role in contributing to the global extended reality market growth. However, the lack of effective user experience designs and slow growth among underdeveloped economies are likely to restrain market growth to a certain extent.
Major Key Players of the Extended Reality Market are:
Qualcomm Technologies, HP Reveal, Accenture, Dassault Systèmes SolidWorks Corporation, Agile Lens, TATA ELXSI., Northern Digital, SoftServe, AugRay, and Mirari LLC, among others.
Qualcomm Technologies, HP Reveal, Accenture, Dassault Systèmes SolidWorks Corporation, Agile Lens, TATA ELXSI., Northern Digital, SoftServe, AugRay, and Mirari LLC, among others.
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