Extended reality is gaining popularity in both professional and personal applications enhancing customer experience is another key factor driving market.

VANCOUVER, BC, CANADA, September 19, 2022 /EINPresswire.com/ -- The global extended reality (XR) market is expected to reach a market size of USD 1,246.57 Billion at a steady CAGR of 24.2% in 2035, according to latest analysis by Emergen Research.

The extended reality (XR) market is witnessing high growth due to increasing investments in Augmented Reality (AR) and Virtual Reality (VR) technologies, and rapid advancements in various technologies and connected devices. Increasing penetration of 5G technology is further expected to propel adoption of extended reality technology. In addition, 5G is expected to address some of the primary challenges related to extended reality by paving the way for more optimized distribution of processing capabilities to the network.

Extended reality is gaining popularity in both professional and personal applications. Increasing focus on enhancing customer experience is another key factor driving growth of the market. Technological advancements are contributing to further developments in XR technology, which will widen the scope for XR to become as prominent as mobile phones. In April 2019 for instance, Houzz, which is an online platform for home design and remodeling, launched a new augmented reality feature that enables shoppers to virtually cover their floor with tiles – true to scale – to get an idea of how it would look in their homes.

Extended reality depends on an organization's data, infrastructure, cloud capabilities, and clear vision for the design. Lack of highly connected infrastructure and power and thermal efficiency of standalone headsets hampers deployment and is expected to negatively impact market growth to a certain extent. The COVID-19 pandemic has propelled usage of XR technology as businesses become more reliant on AR and VR tools. Growing work from home trend has also been leading to an increasing number of companies shifting to virtual events and conferences where people can interact. Market players are exploring extended reality solutions to create next generation of virtual events.

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In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the Extended reality market. Also, to arrive at an accurate and unbiased market forecast, data collected from secondary research sources have been analyzed and validated through primaries.

The major companies Covered in the report are:

Philips, Accenture PLC, Qualcomm Technologies Inc., Softweb Solutions Inc., Varjo Technologies OY, SphereGen Technologies, Microsoft Corporation, Apple, Qualcomm Technologies Inc., Augray Ltd., and Intel

Highlights of Global Extended Reality Market Report

Examines the Extended Reality industry prospects and quickly compares historical, current, and projected market figures.

This report examines growth constraints, market drivers and challenges, and current and prospective development prospects.

Key market participants are evaluated based on various factors, including revenue share, price, regional growth, and product portfolio, to demonstrate how market shares have changed in the past and are expected to change in the future.

Describes the expansion of the global high purity isobutylene market across various industries and geographies. This allows players to concentrate their efforts on regional markets with the potential for rapid growth shortly.

Discuss the global, regional, and national ramifications of COVID-19.

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The report comprises an exhaustive overview of the Extended Reality market, focusing on its leading players and their lucrative business expansion initiatives. It provides the reader with essential conclusive data and information concerning the Extended Reality market’s growth, assessed on both regional and global levels. Hence, the sample copy of the ‘Global Extended Reality Market’ research report is inclusive of a brief analysis of the Extended Reality industry, the competitive landscape, regional overview, technological innovation, and future market developments, which are based on a practical research methodology.

Segments Covered in this report are:

Type Outlook (Revenue, USD Billion; 2021–2035)

Business Engagement

Customer Engagement

Application Outlook (Revenue, USD Billion; 2021–2035)

Virtual Reality (VR)

Augmented Reality (AR)

Mixed Reality (MR)

End-use Outlook (Revenue, USD Billion; 2021–2035)

BFSI

Education

Consumer Good & Retail

Industrial & Manufacturing

Healthcare

Media & Entertainment

Telecommunication & IT

Others

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The report also provides an extensive analysis of the key market elements, such as drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. The exhaustive SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis included in the report are intended to help the reader tactfully formulate business growth strategies. Strategic recommendations for the established market players assist them in fortifying their financial positions in the market.

Geographical Scenario:

The global Extended Reality market has been categorized into several important geographical regions. In this section, authors of the report have studied the presence of the global Extended Reality market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Table of Contents:

Report Overview: It includes the objectives and scope of the study and gives highlights of key market segments and players covered. It also includes years considered for the research study.

Executive Summary: It covers industry trends with high focus on market use cases and top market trends, market size by regions, and global market size. It also covers market share and growth rate by regions.

Key Players: Here, the report concentrates on mergers and acquisitions, expansions, analysis of key players, establishment date of companies, and areas served, manufacturing base, and revenue of key players.

Breakdown by Product and Application: This section provides details about market size by product and application.

Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of market size by product and application, key players, and market forecast.

Profiles of International Players: Here, players are evaluated on the basis of their gross margin, price, sales, revenue, business, products, and other company details.

Market Dynamics: It includes supply chain analysis, analysis of regional marketing, challenges, opportunities, and drivers analyzed in the report.

Appendix: It includes details about research and methodology approach, research methodology, data sources, authors of the study, and a disclaimer..

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Extended Reality Market Size Worth USD 1,246.57 Billion by 2035