In a recently published report, Extended Reality (XR) Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Extended Reality (XR) Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Extended Reality is an umbrella term that encompasses both augmented reality and virtual reality, therefore covers a full spectrum of real and virtual environments. XR experience caters to business issues and creates innovative solutions to add efficiency and increase productivity to meet critical client need. The Extended reality is gaining large demand from healthcare sectors therefore global spread of COVID-19 Virus will drive the growth of market over the forecast years due to its inherent features. As it helps in developing innovative healthcare solutions and providing advent of efficiency and productivity to healthcare professionals in various clinical and research methodology.
Along with healthcare, the Extended reality is having large usage in various end use industries such as gaming, movie & entertainment, retail, and tourism etc. For instance: as per Jabil Inc., XR has over 76% of usage in gaming industries, 60% of usage in movie & entertainment, 34% in retail and over 30% of usage in tourism etc. However, Security and Privacy Issues Associated with Augmented Reality is the factor limits the growth of market over the forecast years.
The regional analysis of global Extended Reality (XR) market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rapid growth in technological advancement & innovation within the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising demand of Extended reality from various end-use industries such as Healthcare, gaming, education & retail etc. in the region would create lucrative growth prospects for the Extended Reality (XR) market across Asia-Pacific region.
Major market player included in this report are:
Acer Inc.
Augmedix
Aurasma
Blippar.com Limited
Catchoom
DAQR
Dell Technologies Inc.
Facebook Inc.
Google LLC
HP Development Company LP
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players. The detailed segments and sub-segment of the market are explained below:
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By Solution:
Consumer Engagement
Business Engagement
By Application:
Virtual Reality (VR)
Augmented Reality (AR)
Mixed Reality (MR)
By End-User Industry:
Education
Retail
Industrial & Manufacturing
Healthcare
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Extended Reality (XR) Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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TABLE OF CONTENTS
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.2.1. Extended Reality Market, by Region, 2018-2026 (USD Billion)
1.2.2. Extended Reality Market, by Solution, 2018-2026 (USD Billion)
1.2.3. Extended Reality Market, by End-User Industry, 2018-2026 (USD Billion)
1.2.4. Extended Reality Market, by Application, 2018-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. 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
Chapter 3. Global Extended Reality Market Dynamics
3.1. Extended Reality Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. 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 (2016-2026)
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
Chapter 5. Global Extended Reality Market, by Solution
5.1. Market Snapshot
5.2. Global Extended Reality Market by Solution, Performance – Potential Analysis
5.3. Global Extended Reality Market Estimates & Forecasts by Solution 2016-2026 (USD Billion)
5.4. Extended Reality Market, Sub Segment Analysis
5.4.1. Consumer Engagement
5.4.2. Business Engagement
Chapter 6. Global Extended Reality Market, by End-User Industry
6.1. Market Snapshot
6.2. Global Extended Reality Market by End-User Industry, Performance – Potential Analysis
6.3. Global Extended Reality Market Estimates & Forecasts by End-User Industry 2016-2026 (USD Billion)
6.4. Extended Reality Market, Sub Segment Analysis
6.4.1. Education
6.4.2. Retail
6.4.3. Industrial & Manufacturing
6.4.4. Healthcare
6.4.5. Others
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