Extended reality market size [2022-2029]


Pune, India, July 20, 2022 (GLOBE NEWSWIRE) — The Extended reality market size is growing tremendously as it benefits businesses to accelerate their speed in interacting with the digital environment. Another reason for the growing demand for technology is the requirement to provide a better level of education.

Fortune Business Insights™ examined these answers in a research report titled “Extended Reality Market, 2022-2029”.

Industry key development:

  • December 2021: Varjo Base improves the accessibility of software by providing greater flexibility in supporting more creative activities.
  • September 2021: Facebook Inc. introduced the metaverse to create a digital environment where people with different devices can move around and communicate in a virtual environment.

Growing use of virtual technologies to propel market growth

The emergence of the COVID-19 pandemic has had a significant impact on the growth of the extended reality market. Most companies have supported remote working, increasing the need for virtual trainings, meetings and conferences. Additionally, the flexibility afforded by extended reality platforms in education during outbreaks gives students the ability to capture visuals and absorb lessons more conveniently at lower cost.

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Drivers and Constraints-

Increased Adoption of Extended Reality Services to Promote Investment

In modern healthcare organizations, extended reality has paved the way for medical practitioners to improve outcomes for individuals without risking patient lives at lower cost. Moreover, the growing interest in the gaming sector has made a new gaming experience even more solid and accessible. However, one of the most common dangers users face is injury when they accidentally collide with real objects while submerged in a real one. This can be a major impediment to the growth of the industry.


In terms of type, the market is bifurcated into enterprise engagement and consumer engagement. Based on the application, the industry is divided into augmented reality, mixed reality, and virtual reality. On the industry vertical, the market is divided into BFSI, Media & Entertainment, Consumer Goods & Retail, Telecom & IT, Manufacturing, Government & Public Sector, Healthcare & Life Sciences, and Others. The market is categorized into LAMEA, Europe, North America and Asia-Pacific in terms of region.

Segmentation By type
  • Consumer Engagement
  • Commercial commitment
By request
  • Virtual reality
  • Augmented reality
  • mixed reality
By industry vertical
  • BFSI
  • Health and life sciences
  • Telecommunications and IT
  • Government and public sector
  • Manufacturing
  • Consumer goods and distribution
  • Media and entertainment
By geography
  • North America
  • Europe
  • Asia Pacific

Click here for the short and long term impact of COVID-19 on this market: https://www.fortunebusinessinsights.com/extended-reality-market-106637

Report cover-

Secondary and primary sources are used to get a detailed insight into the study in a visible way. The qualitative and quantitative approach is also considered as part of the report to carry out the detailed analysis. Meetings with senior management, such as the board of directors and employees, helped to properly recognize the industry in the best possible way. For secondary resources, various press releases and journals are used to retrieve industry details. The report also includes COVID-19 analysis to increase market coverage.

Regional outlook

Technology Investments Drive North American Market Growth

North America is a significant contributor to the growth of extended reality, as the United States and Canada are well established for technological advancements in virtual and mixed media to facilitate business operations. Also, the market share of extended reality is expected to increase owing to the increased adoption of latest technologies, such as augmented reality and virtual reality to enhance the experience of end users.

The Asia-Pacific region is expected to grow due to increasing adoption and investment in the latest technologies. With the advent of technological revolutions in regions such as China, Japan and India, the demand for this technology has increased effectively, which gives the individual a chance to enjoy more interactive learning. .

Competitive landscape

Large Leading Companies Emphasize Technical Extensions to Penetrate a Market

Leading companies, such as Facebook Inc., have introduced the metaverse to gain a competitive advantage. Major industry players are expected to invest in product launches, product innovation, partnerships, and mergers and acquisitions to gain an additional edge. Developments in the business include:

List of key players mentioned in the report:

  • Microsoft Corporation,
  • Google Inc.
  • Qualcomm Technologies Inc.
  • Soft Serve Inc.,
  • Softweb Solutions Inc.,
  • SphereGen Technologies,
  • Vertex Plus Software Pvt. Ltd.,
  • HTC Company,
  • Unity technologies.

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