Extended Reality Market Sluggish Growth Rate Foreseen by 2024-2031
Extended Reality Market Sluggish Growth Rate Foreseen by 2024-2031
Blog Article
The global Extended reality market is anticipated to grow at a CAGR of 30.1% during the forecast period (2024-2031). Rising Demand for VR Devices for Gaming and Entertainment Applications, VR brings a revolutionary change in gaming industry, VR gaming is one of the most popular applications of XR. VR games allow players to immerse themselves in a virtual world and interact with the environment in a realistic way. Hence, companies are focusing on launching new and better product to capture the market. For instance, In February 2023, Sony Group Corporation launched playstation VR2 and playstation VR2 Sense Controller Charging Station to offer a unique gameplay experience. The PS VR2 features headset feedback, eye tracking, 3D audio, and adaptive triggers and haptic feedback from the PS VR2 Sense controllers.
Further, increasing strategic initiatives by the key players and investing activities in another factor driving the growth of the market, for instance, in February 2023, OnePlus partnered with Qualcomm to bring Snapdragon spaces extended reality feature to OnePlus 11 5G and help developers build an easily usable XR ecosystem. This partnership aims to provide users with the digital experience of movies and live concerts and enable them to deliver comprehensive gaming experiences.
Also, in October 2022, Ericsson partnered with the University of Texas (UT) Austin to extend a research partnership to drive 6G-powered XR innovation to deliver users immersive and seamless XR experiences. Ericsson became a Level-1 member of the 6G at UT research facility at UT. With an announced three-year partnership concentrating on XR streaming, sensing, and communication designs, it is elevating its commitment to Level-IV participation.
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Market Coverage
- The Market Number Available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Type
- By Technology
- By End User
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- includes, Avegant Corp., Epson, Everysight Ltd., HTC Corp, Kopin Corp, Lumus Ltd., Optinvent, realwear, Inc., Ricoh Company Ltd., and others.
Extended reality Market Report Segment
By Type
- Hardware
- Software
By Technology:
- AR Technology
- VR Technology
- MR Technology
By End user:
- Consumer products
- Aerospace and defence
- Industrial
- Healthcare
- Other (energy and education)
A full Report of Extended Reality Market is Available @ https://www.omrglobal.com/industry-reports/extended-reality-market
Company Profiles
- Apple Inc.
- Avegant Corp.
- Everysight Ltd.
- HTC Corp.
- Lumus Ltd.
- Optinvent,
- PTC Inc.
- Qualcomm Technologies, Inc.
- Realwear, Inc.
- Ricoh Company Ltd
- Samsung Electronics Co., Ltd.
- Seiko Epson Corp
- Sony Corp
Reasons to buy from us –
- We cover more than 15 major industries, further segmented into more than 90 sectors.
- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
- Our expert research analysts answer all your questions before and after purchasing your report.
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