Extended Reality Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR41203
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The extended reality market size has the potential to grow by USD 229.06 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 42.57%. 

This report provides a detailed analysis of the market by application (VR, AR, and MR) and geography (North America, APAC, Europe, South America, and MEA). 

Extended Reality Market Share

Extended-Reality-Market-Market-Size-2020-2025

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • Accenture Plc
  • Alphabet Inc.
  • Avnet Inc.
  • Facebook Inc.
  • HTC Corp.
  • Microsoft Corp.
  • Northern Digital Inc.
  • Qualcomm Inc.
  • Seiko Epson Corp.
  • Sony Corp.

 

The extended reality market is fragmented and the vendors are deploying growth strategies such as acquiring regional or local technology providers to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as rapid improvements in sensor technology to achieve growth opportunities. However, factors such as infrastructural and integration issues will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the extended reality market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This extended reality market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Extended Reality Market: Key Drivers and Trends

  • Rapid developments in sensor technology lead to a reduction in the cost of sensors, which will drive the growth of the extended reality market during the forecast period.
  • With the ongoing transformation across various industries and verticals, there is an increasing demand for smart sensors that are more reliable, require lower maintenance and repair costs, and need minimum replacement time. Such sensors drive operational efficiencies across business processes.
  • For instance, in the healthcare industry, researchers have designed tiny optical and biopotential sensors that can be fitted in a wearable device. These sensors allow doctors to diagnose a patient’s health in real-time.
  • Miniaturization of sensors is increasing the installation of sensors in nearly all possible business assets for effective monitoring and analysis.
  • The significant focus on R&D pertaining to sensor technology is expected to aid the growth of the global extended reality market during the forecast period.
  • There is increasing adoption of extended reality in the military sector, one of the key extended reality market trends, as it offers solutions such as tactical augmented reality (TAR).
  • TAR resembles night-vision goggles and can be used for tracking the location of soldiers and allied and enemy forces.
  • Virtual training minimizes the risks associated with real-time training, particularly where personnel and equipment or devices are involved. Therefore, defense agencies have shifted their focus to simulation and synthetic training methodology.
  • The increased budget for defense and law enforcement over the last few years has fueled the demand for innovative simulation training systems by the military and police.
  • Military simulation and virtual training systems are well supported by an architecture based on commercial-off-the-shelf (COTS) components, which use the plug-and-play capability.

 

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Extended Reality Market: Segmentation by Geography

Extended-Reality-Market-Market-Share-by-Region-2020-2025

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36% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for extended reality in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

Rapid industrialization, increasing technology adoption, and growth in the healthcare industry will facilitate the extended reality market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Extended Reality Market: Segmentation by Application

Extended-Reality-Market-Market-Share-by-Application-2020-2025

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The extended reality market share growth by the VR segment will be significant during the forecast period. The increasing popularity of 360-degree videos and VR gaming drives the VR segment of the global market. The growth of VR content is further driven by the increased sales of popular head-mounted displays (HMDs) such as Samsung Gear VR and Google Cardboard. VR is extensively used in medical institutions and military and aviation sectors for training and educating students and trainees. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the extended reality market size.

 

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Key Highlights of the Extended Reality Market Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive extended reality market growth during the next five years
  • Precise estimation of the extended reality market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the extended reality industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of extended reality market vendors

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Extended Reality Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 43%

Market growth 2021-2025

$ 229.06 billion

Market structure

Fragmented

YoY growth (%)

38.21

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

APAC at 36%

Key consumer countries

US, China, Germany, UK, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Accenture Plc, Alphabet Inc., Avnet Inc., Facebook Inc., HTC Corp., Microsoft Corp., Northern Digital Inc., Qualcomm Inc., Seiko Epson Corp., and Sony Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The extended reality market growth will increase by $176.74 billion during 2019-2024.
The extended reality market is expected to grow at a CAGR of 60.46% during 2019-2024.
Technavio has segmented the extended reality market by application (VR, AR, and MR) and geographic (North America, Europe, APAC, South America, and MEA).
Accenture Plc, Alphabet Inc., Facebook Inc., HTC Corp., Microsoft Corp., Northern Digital Inc., Qualcomm Inc., Seiko Epson Corp., Softweb Solutions Inc., Sony Corp. are a few of the key vendors in the extended reality market.
North America will register the highest growth rate of 37.92% among the other regions. Therefore, the extended reality market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the extended reality market growth are:
  • Rapid improvements in sensor technology
  • 58,82,95
The extended reality market vendors should focus on grabbing business opportunities from the vr segment as it accounted for the largest market share in the base year.
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