ALBANY, N.Y., March 10, 2021 /PRNewswire/ — The extended reality (XR) market has evolved on the back of growing applications of virtual reality (VR), augmented reality (AR), and mixed reality, and an array of technologies that are combination of these. Various industry verticals such as gaming, entertainment, healthcare, education, and real-estate are leveraging these technologies to offer an immersive experience to their customers, and earn a competitive edge. Concomitant advances in hardware components and remarkable strides made by computing technologies have enriched the landscape of the extended reality (XR) market. Coupled with the advancements made in sound and digital graphics and penetration of smartphones, XR is witnessing new normals of mainstreaming in end-use industries. Numerous startups have entered the fray to leverage the edge.
The global extended reality market is projected to clock CAGR of 45% from 2020 to 2030. By the period-end, the valuation is expected to exceed US$ 1.1 Trn.
Key Findings of Extended Reality (XR) Market Study
- Penetration of Mobile Devices to See Opportunities in Numerous Industries
An array of functional technologies in smart mobile devices powered by augmented reality (AR) and virtual reality (VR) open vast possibilities in extended reality market. Growing popularity of XR is enabling businesses in various end-use industries leverage the potential of 3D graphics, machine vision, and artificial intelligence technologies for…