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According to IMARC Group’s latest report, titled “Extended Reality (XR) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027." the global extended reality (XR) market reached a value of US$ 42.86 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 465.26 Billion by 2027 exhibiting a CAGR of 46.20% during 2022-2027.
Extended reality (XR) refers to a set of computer-generated graphic interactions and technologies, including augmented reality (AR), virtual reality (VR), and mixed reality (MR). These solutions deliver an immersive experience to users by combining real and virtual environments. XR optimizes workflow, engineers products in the manufacturing industry, and creates a human-machine interface (HMI). Apart from this, XR assists in performing various organizational operations, including diversity and inclusion (D&I), hiring procedures, onboarding, and training staff.
We are constantly tracing and assessing the impact of the COVID-19 pandemic on the industry. These influences have been covered in our report as significant market contributors.
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Global Extended Reality (XR) Market Trends:
The widespread adoption of the work from home (WFH) model, especially during the coronavirus disease (COVID-19) pandemic, has facilitated the extensive deployment of EXR in various companies to execute virtual meetings and enable employees to visualize the corporate ecosystem. This is primarily driving the market growth. Additionally, the increasing demand for XR in the healthcare sector for creating surgery simulators to conduct educational training for medical students and diagnose patients' health conditions is propelling the market growth. Apart from this, the growing popularity of gesture-based computing and the advent of state-of-the-art gaming consoles to provide an immersive experience to players, and rising awareness amongst consumers regarding the availability of XR technology is expanding the product demand in the market.
Extended Reality (XR) Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the extended reality (XR) market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Key Market Segmentation:
Breakup by Component:
Breakup by Type:
Breakup by Organization Size:
Breakup by Application:
Breakup by End User Industry:
Breakup by Region:
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Key highlights of the report:
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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