Global Extended Reality Display Market expected to record a CAGR of ~25% during the forecast period (2017-2028): Ken Research
What Is The Size Of Global Extended Reality Display Industry?
Global Extended Reality Display market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD 100 Bn by 2028.
The Extended Reality Display Market is largely driven by rising adoption of extended reality devices in the healthcare sector.
Extended reality devices are widely used in the healthcare sector by surgeons to detect every aspect of the human body, which helps them to see complex body structures easily during surgeries.
Extended reality technology also helps medical practitioners to memorize information regarding human body parts such as the brain and heart more easily.
The excessive use of extended reality devices has many health issues as many users have reported that they have experienced several issues like headaches, eyestrain, dizziness, and nausea after using extended reality devices.
Since Covid-19 Pandemic, the use of XR Technology is widely increasing such as for Learning, Training, and Treatment purposes as it encourages students, teachers, and professors to learn and educate using augmented reality, virtual reality, and mixed reality labs due to the lack of offline interaction due to government norms and lockdowns worldwide.
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Global Extended Reality Display Market By Solution
The Global Extended Reality Display market is segmented by Solution into Consumer Engagement and Business Engagement.
The consumer engagement segment by solution held the largest market share in 2022 in the global extended reality display market.
Customer engagement is the process of interacting with customers through different channels to develop and strengthen a relationship with them. It is a strategy used by companies to add value throughout every client encounter and boost loyalty.
In February 2019, Warby Parker, which is an American online retailer of prescription glasses, contact lenses, and sunglasses, offers an augmented reality (AR) try-on under which customers are able to test Glasses virtually using their mobile phones. Furthermore, there are going to be no delivery charges on multiple orders for new customers.
Global Extended Reality Display Market By Application
The Global Extended Reality Display market is segmented by Application into Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR).
The Virtual Reality (VR) segment by application held the largest market share in 2022 in the global extended reality display market.
Virtual Reality is creating a digital world using computer technology to access that digital world users use various VR devices such as VR headsets, haptic gloves, feedback controllers, and more.
In addition, teachers in a variety of educational centers are now focusing on virtual reality technology for providing better teaching such as 3D teaching models. VR, technology is less expensive, also more engaging, and visually appealing for students.
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Global Extended Reality Display Market By End-User
The Global Extended Reality Display market is segmented by End-user into Retail, Education, Industrial & Manufacturing, Healthcare, Media & Entertainment, Gaming, Aerospace & Defense and Others.
The Gaming segment is projected to be the fastest growing market during the forecast period owing to the increasing adoption of immersive technologies in the gaming industry, along with the rising investment by key players.
In January 2022, Microsoft acquired Activision Blizzard, which is the leader in gaming development and interactive entertainment content publisher. The acquisition will help the company to accelerate growth in the gaming business such as more games for the Microsoft Xbox series (Xbox is a gaming console launched by Microsoft).
Global Extended Reality Display Market By Geography
The Global Extended Reality Display market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
North America is estimated to be the dominant among all regions within the total global extended reality display market, however Asia Pacific is likely to be the fastest growing region during the forecast period.
The extended reality market in North America is expected to dominate for the forecast period, mostly because of the existence of several suppliers that have made considerable investments in market innovations. The marketplaces for augmented reality (AR), virtual reality (VR), and mixed reality (MR) have been among the most inventive in nations like the US.
In August 2022, Microsoft Inc. launched its wrist-mounted VR controller, which has haptic technology. The controller will be synced with the pointer in the screen thus the user is able to feel the actions on the screen.
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Key Topics Covered in the Report
- Snapshot of the Global Extended Reality Display Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Extended Reality Display Market
- Historic Growth of the Overall Global Extended Reality Display Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Extended Reality Display Industry
- Overview, Solution Offerings, and Strengths & Weaknesses
- COVID-19 Impact on the Overall Global Extended Reality Display Market
- Future Market Forecast and Growth Rates of the Total Global Extended Reality Display Market and by Segments
- Market Size of End-user Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Extended Reality Display Market
- Major Production/Supply and Consumption/Demand Hubs within Each Major Country
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
Notable Key Players Mentioned in the Report
- Qualcomm Technologies Inc.
- Magic Leap
- Meta
- HP Development Company, L.P
- SoftServe Inc.
- Sony Interactive Entertainment LLC
- Accenture
- Apple Inc.
- Northern Digital Inc.
Notable Emerging Companies Mentioned in the Report
- QuaQua
- CXR
- TreeView
- Lucid Reality Labs
- FFFACE.ME
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Extended Reality Display Manufacturers
- Government Ministries of Health and Family Welfare
- Extended Reality Display Industry Association
- Extended Reality Display Companies
- Financial Institutions Targeting Extended Reality Display Industry
- Government Ministries and Departments of Information Technology
- Investors and financial community professionals
- PE and VC Firms focused on Information Technology Sector
Time Period Captured in the Report
- Historical Period: 2017-202
- Forecast Period: 2022E-2028F
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