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Press Release:

Global Extended Reality (XR) Market to Reach US$ 465.26 Billion by 2027, Spurred by Rising Trend of Remote Working

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Extended Reality (XR) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global extended reality (XR) market reached a value of US$ 42.86 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 465.26 Billion by 2027 exhibiting a CAGR of 46.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different industries. These insights are included in the report as a major market contributor.

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.

 

 
 

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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, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, type, organization size, application and end user industry.

Breakup by Component:

 

 
 

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  • 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:

 

 
 

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  • 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 Systèmes SolidWorks Corporation (Dassault Systèmes 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Component, Type, Organization Size, Application, End User Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Accenture PLC, Augray, Dassault Systèmes SolidWorks Corporation (Dassault Systèmes 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

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 Systèmes SolidWorks Corporation (Dassault Systèmes 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 Figures

Figure 1: Global: Extended Reality Market: Major Drivers and Challenges
Figure 2: Global: Extended Reality Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Extended Reality Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Extended Reality Market: Breakup by Component (in %), 2021
Figure 5: Global: Extended Reality Market: Breakup by Type (in %), 2021
Figure 6: Global: Extended Reality Market: Breakup by Organization Size (in %), 2021
Figure 7: Global: Extended Reality Market: Breakup by Application (in %), 2021
Figure 8: Global: Extended Reality Market: Breakup by End User Industry (in %), 2021
Figure 9: Global: Extended Reality Market: Breakup by Region (in %), 2021
Figure 10: Global: Extended Reality (Hardware) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Extended Reality (Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Extended Reality (Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Extended Reality (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Extended Reality (Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Extended Reality (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Extended Reality (Consumer Engagement) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Extended Reality (Consumer Engagement) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Extended Reality (Business Engagement) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Extended Reality (Business Engagement) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Extended Reality (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Extended Reality (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Extended Reality (Large Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Extended Reality (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Extended Reality (Virtual Reality) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Extended Reality (Virtual Reality) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Extended Reality (Augmented Reality) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Extended Reality (Augmented Reality) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Extended Reality (Mixed Reality) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Extended Reality (Mixed Reality) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Extended Reality (Education) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Extended Reality (Education) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Extended Reality (Retail) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Extended Reality (Retail) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Extended Reality (Industrial and Manufacturing) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Extended Reality (Industrial and Manufacturing) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Extended Reality (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Extended Reality (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Global: Extended Reality (Media and Entertainment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Global: Extended Reality (Media and Entertainment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Global: Extended Reality (Other End User Industries) Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Global: Extended Reality (Other End User Industries) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: North America: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: North America: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: United States: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: United States: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Canada: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Canada: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Asia-Pacific: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Asia-Pacific: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: China: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: China: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Japan: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Japan: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: India: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: India: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: South Korea: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: South Korea: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Australia: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Australia: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Indonesia: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Indonesia: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Others: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Others: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Europe: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Europe: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Germany: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Germany: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: France: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: France: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: United Kingdom: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: United Kingdom: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Italy: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Italy: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Spain: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Spain: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Russia: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Russia: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Others: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Others: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Latin America: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Latin America: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Brazil: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Brazil: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 84: Mexico: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 85: Mexico: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 86: Others: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 87: Others: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 88: Middle East and Africa: Extended Reality Market: Sales Value (in Million US$), 2016 & 2021
Figure 89: Middle East and Africa: Extended Reality Market: Breakup by Country (in %), 2021
Figure 90: Middle East and Africa: Extended Reality Market Forecast: Sales Value (in Million US$), 2022-2027
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

List of Tables

Table 1: Global: Extended Reality Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Extended Reality Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Extended Reality Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 4: Global: Extended Reality Market Forecast: Breakup by Organization Size (in Million US$), 2022-2027
Table 5: Global: Extended Reality Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 6: Global: Extended Reality Market Forecast: Breakup by End User Industry (in Million US$), 2022-2027
Table 7: Global: Extended Reality Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 8: Global: Extended Reality Market: Competitive Structure
Table 9: Global: Extended Reality Market: Key Players


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Key Questions Answered in This Report

The global extended reality (XR) market was valued at US$ 42.86 Billion in 2021.

We expect the global extended reality (XR) market to exhibit a CAGR of 46.20% during 2022-2027.

The sudden outbreak of the COVID-19 pandemic has led to the growing demand for Extended Reality (XR) across several organizations for visualizing the live environment of the office and attending virtual meetings, on account of the rising deployment of a remote working model.

The rising adoption of online gaming as a profession, along with the increasing utilization of XR for immersive experiences, such as concerts and sports competitions on smartphones, is primarily driving the global extended reality (XR) market.

Based on the type, the global extended reality (XR) market can be divided into consumer engagement and business engagement. Currently, consumer engagement exhibits a clear dominance in the market.

Based on the application, the global extended reality (XR) market has been segregated into Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR). Among these, Virtual Reality (VR) currently holds the largest market share.

Based on the end-user industry, the global extended reality (XR) market can be bifurcated into education, retail, industrial and manufacturing, healthcare, media and entertainment, and others. Currently, the media and entertainment industry accounts for the majority of the global market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global extended reality (XR) market include Accenture PLC, Augray, Dassault Systèmes SolidWorks Corporation (Dassault Systèmes 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.

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