Extended Reality Market Development Outlook, Emerging Trends and Growth Opportunities 2026

Posted November 22, 2022 by avinashgogawale14

A CAGR of 30.6% is predicted for the Extended Reality Market from 2021 to 2026, with an estimated market share of USD 33.0 billion in 2021 and USD 125.2 billion by 2026.
The Extended Reality Market Report Share is estimated to be USD 33.0 billion in 2021 and expected to reach USD 125.2 billion by 2026, at a CAGR of 30.6% from 2021 to 2026.

The market growth can be attributed to several factors, such as surging deployment of extended reality in education sector and industrial training, rising demand for extended reality devices and technology in global automotive industry, surging adoption of extended reality in healthcare sector, and increasing demand for extended reality in entertainment and gaming industry.

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Surging adoption of Extended Reality in Healthcare Sector

The use of extended reality in the healthcare sector opens new opportunities for medical practitioners and holds a promising future, especially for modern healthcare organizations. The use of extended reality technology in the healthcare sector is reducing costs, and improving outcomes for individuals without taking risking the lives of patients.

Extended reality technology can help surgeons explore the target organs by picturing subtleties of the body of a patient, right before initiating any medical procedure to make it a risk-free process.

VR devices to account for the largest share of Extended Reality Market in 2020

On the basis of Device Type, the market is categorized into AR devices, VR devices, and MR devices. The growth of the VR devices segment of the market is expected to be led by HMD. These displays from companies such as Sony, Oculus, HTC, Samsung, and Google have received an overwhelming response from users. The key applications of HMD are gaming and entertainment. Gesture-tracking devices have been an integral part of VR hardware owing to their risen use in consumer applications.

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Consumer Application to hold the largest share of the market during forecast period

On the basis of Applications, the market is categorized into consumer, commercial, enterprise (manufacturing), healthcare, aerospace & defense, energy, automotive, and others. The consumer segment of the market comprises gaming and entertainment applications wherein AR technology is used to create 3D visual objects in the real world. The flourishing gaming and sports and entertainment sectors fuel the use of AR technology in consumer applications. VR technology also offers remarkable results regarding visual effects when used in gaming and sports broadcasts. The demand for HMD is high in consumer applications.

North America is leading the Market Extended Reality in 2020

North America held the largest share in the Extended Reality Market in 2020. Growing use of smartphones, increasing adoption of smart electronic devices, and surging demand for extended reality technology in various applications are the key factors fueling the growth of the Extended Reality Market in North America.

Some of the key companies operating in the market are Microsoft (US), Sony (Japan), Oculus VR (Facebook) (US), HTC (Taiwan), Google (US), Samsung Electronics (South Korea), Apple (US), PTC (US), Seiko Epson (Japan), and so on.

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Last Updated November 22, 2022