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Extended Reality (XR) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

March 2023 | 143 pages | ID: EB6ABA85EB4EEN
IMARC Group

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Market Overview:

The global extended reality (XR) market size reached US$ 64.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 604.3 Billion by 2028, exhibiting a growth rate (CAGR) of 43.5% during 2023-2028.

Extended reality (XR) refers to the amalgamation of immersive graphics technologies, such as augmented reality (AR), virtual reality (VR), and mixed reality (MR). It relies on applications and headsets that create an interactive virtual experience by generating realistic sounds and images. At present, it is widely used in various corporate recruitment processes, including onboarding, employee training, and diversity and inclusion (D&I). It is also leveraged by companies across the globe to advertise their products and services while reducing expenditure and providing hands-on experience to users.

Extended Reality (XR) Market Trends:

Due to the global spread of coronavirus disease (COVID-19) and the growing concerns about workplace safety, several enterprises have shifted to the remote working environment via the cloud. This represents one of the key factors catalyzing the demand for XR to enable employees to visualize a live environment of their offices, attend virtual meetings, and work from home efficiently. Apart from this, the increasing number of individuals opting for online gaming as a profession due to significant improvements in internet connectivity and the easy availability of advanced gaming peripherals is contributing to the market growth. Additionally, the thriving entertainment industry is driving the use of XR for experiencing live events like concerts and sports competitions on smartphones remotely. Besides this, XR is employed in modern imaging technologies, such as magnetic resonance imaging (MRI) and computerized tomography (CT) scans. This, in confluence with the rising prevalence of chronic diseases and the escalating need for improving diagnostic efficiency, is positively influencing the application of XR in the healthcare industry. Furthermore, the growing awareness of the benefits of XR is anticipated to expand its usage in the retail, defense, transportation, and travel and tourism industries worldwide.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global extended reality (XR) market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, type, organization size, application and end user industry.

Breakup by Component:

Hardware
Software
Services
 

Breakup by Type:

Consumer Engagement
Business Engagement
 

Breakup by Organization Size:

Small and Medium-sized Enterprises
Large Enterprises
 

Breakup by Application:

Virtual Reality (VR)
Augmented Reality (AR)
Mixed Reality (MR)
 

Breakup by End User Industry:

Education
Retail
Industrial and Manufacturing
Healthcare
Media and Entertainment
Others
 

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa
 

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Accenture PLC, Augray, Dassault Syst?mes SolidWorks Corporation (Dassault Syst?mes SE), Medtronic PLC, Microsoft Corporation, Qualcomm Incorporated, Samsung Display Co. Ltd. (Samsung Electronics Co. Ltd.), Semcon, SoftServe Inc., Softweb Solutions Inc. (Avnet Inc.), SphereGen, Varjo and VertexPlus Softwares Pvt. Ltd.

Key Questions Answered in This Report:

What was the size of the global extended reality (XR) market in 2022?
What is the expected growth rate of the global extended reality (XR) market during 2023-2028?
What has been the impact of COVID-19 on the global extended reality (XR) market?
What are the key factors driving the global extended reality (XR) market?
What is the breakup of the global extended reality (XR) market based on the type?
What is the breakup of the global extended reality (XR) market based on the application?
What is the breakup of the global extended reality (XR) market based on the end user industry?
What are the key regions in the global extended reality (XR) market?
Who are the key players/companies in the global extended reality (XR) market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL EXTENDED REALITY (XR) MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY COMPONENT

6.1 Hardware
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Software
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Services
  6.3.1 Market Trends
  6.3.2 Market Forecast

7 MARKET BREAKUP BY TYPE

7.1 Consumer Engagement
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Business Engagement
  7.2.1 Market Trends
  7.2.2 Market Forecast

8 MARKET BREAKUP BY ORGANIZATION SIZE

8.1 Small and Medium-sized Enterprises
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Large Enterprises
  8.2.1 Market Trends
  8.2.2 Market Forecast

9 MARKET BREAKUP BY APPLICATION

9.1 Virtual Reality (VR)
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Augmented Reality (AR)
  9.2.1 Market Trends
  9.2.2 Market Forecast
9.3 Mixed Reality (MR)
  9.3.1 Market Trends
  9.3.2 Market Forecast

10 MARKET BREAKUP BY END USER INDUSTRY

10.1 Education
  10.1.1 Market Trends
  10.1.2 Market Forecast
10.2 Retail
  10.2.1 Market Trends
  10.2.2 Market Forecast
10.3 Industrial and Manufacturing
  10.3.1 Market Trends
  10.3.2 Market Forecast
10.4 Healthcare
  10.4.1 Market Trends
  10.4.2 Market Forecast
10.5 Media and Entertainment
  10.5.1 Market Trends
  10.5.2 Market Forecast
10.6 Others
  10.6.1 Market Trends
  10.6.2 Market Forecast

11 MARKET BREAKUP BY REGION

11.1 North America
  11.1.1 United States
    11.1.1.1 Market Trends
    11.1.1.2 Market Forecast
  11.1.2 Canada
    11.1.2.1 Market Trends
    11.1.2.2 Market Forecast
11.2 Asia-Pacific
  11.2.1 China
    11.2.1.1 Market Trends
    11.2.1.2 Market Forecast
  11.2.2 Japan
    11.2.2.1 Market Trends
    11.2.2.2 Market Forecast
  11.2.3 India
    11.2.3.1 Market Trends
    11.2.3.2 Market Forecast
  11.2.4 South Korea
    11.2.4.1 Market Trends
    11.2.4.2 Market Forecast
  11.2.5 Australia
    11.2.5.1 Market Trends
    11.2.5.2 Market Forecast
  11.2.6 Indonesia
    11.2.6.1 Market Trends
    11.2.6.2 Market Forecast
  11.2.7 Others
    11.2.7.1 Market Trends
    11.2.7.2 Market Forecast
11.3 Europe
  11.3.1 Germany
    11.3.1.1 Market Trends
    11.3.1.2 Market Forecast
  11.3.2 France
    11.3.2.1 Market Trends
    11.3.2.2 Market Forecast
  11.3.3 United Kingdom
    11.3.3.1 Market Trends
    11.3.3.2 Market Forecast
  11.3.4 Italy
    11.3.4.1 Market Trends
    11.3.4.2 Market Forecast
  11.3.5 Spain
    11.3.5.1 Market Trends
    11.3.5.2 Market Forecast
  11.3.6 Russia
    11.3.6.1 Market Trends
    11.3.6.2 Market Forecast
  11.3.7 Others
    11.3.7.1 Market Trends
    11.3.7.2 Market Forecast
11.4 Latin America
  11.4.1 Brazil
    11.4.1.1 Market Trends
    11.4.1.2 Market Forecast
  11.4.2 Mexico
    11.4.2.1 Market Trends
    11.4.2.2 Market Forecast
  11.4.3 Others
    11.4.3.1 Market Trends
    11.4.3.2 Market Forecast
11.5 Middle East and Africa
  11.5.1 Market Trends
  11.5.2 Market Breakup by Country
  11.5.3 Market Forecast

12 SWOT ANALYSIS

12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats

13 VALUE CHAIN ANALYSIS

14 PORTERS FIVE FORCES ANALYSIS

14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes

15 PRICE ANALYSIS

16 COMPETITIVE LANDSCAPE

16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
  16.3.1 Accenture PLC
    16.3.1.1 Company Overview
    16.3.1.2 Product Portfolio
    16.3.1.3 Financials
    16.3.1.4 SWOT Analysis
  16.3.2 Augray
    16.3.2.1 Company Overview
    16.3.2.2 Product Portfolio
  16.3.3 Dassault Syst?mes SolidWorks Corporation (Dassault Syst?mes SE)
    16.3.3.1 Company Overview
    16.3.3.2 Product Portfolio
  16.3.4 Medtronic PLC
    16.3.4.1 Company Overview
    16.3.4.2 Product Portfolio
    16.3.4.3 Financials
    16.3.4.4 SWOT Analysis
  16.3.5 Microsoft Corporation
    16.3.5.1 Company Overview
    16.3.5.2 Product Portfolio
    16.3.5.3 Financials
    16.3.5.4 SWOT Analysis
  16.3.6 Qualcomm Incorporated
    16.3.6.1 Company Overview
    16.3.6.2 Product Portfolio
    16.3.6.3 Financials
    16.3.6.4 SWOT Analysis
  16.3.7 Samsung Display Co. Ltd. (Samsung Electronics Co. Ltd.)
    16.3.7.1 Company Overview
    16.3.7.2 Product Portfolio
  16.3.8 Semcon
    16.3.8.1 Company Overview
    16.3.8.2 Product Portfolio
    16.3.8.3 Financials
  16.3.9 SoftServe Inc.
    16.3.9.1 Company Overview
    16.3.9.2 Product Portfolio
  16.3.10 Softweb Solutions Inc. (Avnet Inc.)
    16.3.10.1 Company Overview
    16.3.10.2 Product Portfolio
  16.3.11 SphereGen
    16.3.11.1 Company Overview
    16.3.11.2 Product Portfolio
  16.3.12 Varjo
    16.3.12.1 Company Overview
    16.3.12.2 Product Portfolio
    16.3.12.3 Financials
  16.3.13 VertexPlus Softwares Pvt. Ltd.
    16.3.13.1 Company Overview
    16.3.13.2 Product Portfolio

LIST OF TABLES

Table 1: Global: Extended Reality Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Extended Reality Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: Extended Reality Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 4: Global: Extended Reality Market Forecast: Breakup by Organization Size (in Million US$), 2023-2028
Table 5: Global: Extended Reality Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 6: Global: Extended Reality Market Forecast: Breakup by End User Industry (in Million US$), 2023-2028
Table 7: Global: Extended Reality Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 8: Global: Extended Reality Market: Competitive Structure
Table 9: Global: Extended Reality Market: Key Players


LIST OF FIGURES

Figure 1: Global: Extended Reality Market: Major Drivers and Challenges
Figure 2: Global: Extended Reality Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Extended Reality Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Extended Reality Market: Breakup by Component (in %), 2022
Figure 5: Global: Extended Reality Market: Breakup by Type (in %), 2022
Figure 6: Global: Extended Reality Market: Breakup by Organization Size (in %), 2022
Figure 7: Global: Extended Reality Market: Breakup by Application (in %), 2022
Figure 8: Global: Extended Reality Market: Breakup by End User Industry (in %), 2022
Figure 9: Global: Extended Reality Market: Breakup by Region (in %), 2022
Figure 10: Global: Extended Reality (Hardware) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Extended Reality (Hardware) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Extended Reality (Software) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Extended Reality (Software) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Extended Reality (Services) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Extended Reality (Services) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Extended Reality (Consumer Engagement) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Extended Reality (Consumer Engagement) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Extended Reality (Business Engagement) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Extended Reality (Business Engagement) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Extended Reality (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Extended Reality (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Extended Reality (Large Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Extended Reality (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Extended Reality (Virtual Reality) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Extended Reality (Virtual Reality) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Extended Reality (Augmented Reality) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Extended Reality (Augmented Reality) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Extended Reality (Mixed Reality) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Extended Reality (Mixed Reality) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Global: Extended Reality (Education) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Global: Extended Reality (Education) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Global: Extended Reality (Retail) Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Global: Extended Reality (Retail) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Global: Extended Reality (Industrial and Manufacturing) Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Global: Extended Reality (Industrial and Manufacturing) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Global: Extended Reality (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Global: Extended Reality (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Global: Extended Reality (Media and Entertainment) Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Global: Extended Reality (Media and Entertainment) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Global: Extended Reality (Other End User Industries) Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Global: Extended Reality (Other End User Industries) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: North America: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: North America: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: United States: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: United States: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Canada: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Canada: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Asia-Pacific: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Asia-Pacific: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: China: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: China: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Japan: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Japan: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: India: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: India: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: South Korea: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: South Korea: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Australia: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Australia: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Indonesia: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Indonesia: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Others: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Others: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Europe: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Europe: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Germany: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Germany: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: France: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: France: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: United Kingdom: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: United Kingdom: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Italy: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Italy: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Spain: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Spain: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Russia: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Russia: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 78: Others: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 79: Others: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 80: Latin America: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 81: Latin America: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 82: Brazil: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 83: Brazil: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 84: Mexico: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 85: Mexico: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 86: Others: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 87: Others: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 88: Middle East and Africa: Extended Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 89: Middle East and Africa: Extended Reality Market: Breakup by Country (in %), 2022
Figure 90: Middle East and Africa: Extended Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 91: Global: Extended Reality Industry: SWOT Analysis
Figure 92: Global: Extended Reality Industry: Value Chain Analysis
Figure 93: Global: Extended Reality Industry: Porter's Five Forces Analysis


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