Extended Reality Market by Application and Geography 2024

1. Downloaded from: justpaste.it/51hqt Extended Reality Market Research Report and News 2024 The extended reality market size has the potential to grow by USD 176.74 billion during 2020-2024. The market’s growth momentum will decelerate during the forecast period because of the decline in year-over-year growth. Get Sample of the Report: https://www.technavio.com/talk-to-us? report=IRTNTR41203&type=sample&src=report This report provides a detailed analysis of the market by application (VR, AR, and MR) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Accenture Plc, Alphabet Inc., Facebook Inc., HTC Corp., Microsoft Corp., Northern Digital Inc., Qualcomm Inc., Seiko Epson Corp., Softweb Solutions Inc., and Sony Corp. Market Competitive Analysis The market is fragmented. Owing to rapid technological advances, products are mostly differentiated based on their features and capabilities. Furthermore, factors such as high industry criticality, the high impact of product quality, and the high contribution of the industry to buyers' cost structure or procurement budget make the bargaining power of buyers low. Northern Digital Inc., Qualcomm Inc., Seiko Epson Corp., Softweb Solutions Inc., and Sony Corp. are some of the major market participants. Although the rapid improvements in sensor technology will offer immense growth opportunities, infrastructural and integration issues will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. To help clients improve their market position, this extended reality market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this extended reality market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. Extended Reality Market: Key Drivers and Trends Rapid developments in sensor technology lead to a reduction in the cost of sensors, which will drive the growth of the global extended reality market during the forecast period. With the ongoing transformation across various industries and verticals, there is an increasing demand for smart sensors that are more reliable, require lower maintenance and repair costs, and need minimum replacement time. Such sensors drive operational efficiencies across business processes. For instance, in the healthcare industry, researchers have designed tiny optical and biopotential sensors that can be fitted in a wearable device. These sensors allow doctors to diagnose a patient’s health in real-time. Moreover. miniaturization of sensors is increasing the installation of sensors in nearly all

2. possible business assets for effective monitoring and analysis. Additionally, a significant focus on R&D pertaining to sensor technology is expected to aid the growth of the global extended reality market during the forecast period. There is increasing adoption of extended reality in the military sector, one of the key extended reality market trends, as it offers solutions such as tactical augmented reality (TAR). TAR resembles night-vision goggles and can be used for tracking the location of soldiers and allied and enemy forces. Virtual training minimizes the risks associated with real-time training, particularly where personnel and equipment or devices are involved. Therefore, defense agencies have shifted their focus to simulation and synthetic training methodology. Moreover, the increased budget for defense and law enforcement over the last few years has fueled the demand for innovative simulation training systems by the military and police. Military simulation and virtual training systems are well supported by an architecture based on commercial-off-the-shelf (COTS) components, which use the plug and play capability. Another major advantage of using COTS components is the easy replacement of parts that have undergone wear and tear. The components can be easily replaced with other similar components. Such factors will drive market growth at a CAGR of over 60% during the forecast period. Contact us: Contact no- +91 806 191 4606 Email Id: enquiry@technavio.com