Table of Content

1 INTRODUCTION 24
1.1 STUDY OBJECTIVES 24
1.2 MARKET DEFINITION 24
1.2.1 INCLUSIONS AND EXCLUSIONS 25
1.3 STUDY SCOPE 25
1.3.1 MARKETS COVERED 25
FIGURE 1 EXTENDED REALITY MARKET SEGMENTATION 26
1.3.2 YEARS CONSIDERED 26
1.4 CURRENCY CONSIDERED 27
1.5 UNITS CONSIDERED 27
1.6 STAKEHOLDERS 27
1.7 SUMMARY OF CHANGES 27
1.7.1 RECESSION IMPACT 28
2 RESEARCH METHODOLOGY 29
2.1 RESEARCH DATA 29
FIGURE 2 EXTENDED REALITY MARKET: RESEARCH DESIGN 30
2.1.1 SECONDARY AND PRIMARY RESEARCH 31
2.1.2 SECONDARY DATA 31
2.1.2.1 Secondary sources 32
2.1.2.2 List of key secondary sources 32
2.1.3 PRIMARY DATA 33
2.1.3.1 Primary interviews with experts 33
2.1.3.2 Breakdown of primaries 33
2.1.3.3 Key data from primary sources 34
2.1.3.4 Key industry insights 34
2.2 MARKET SIZE ESTIMATION 35
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY?APPROACH 1 (SUPPLY SIDE): REVENUE OF KEY PLAYERS 35
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY?APPROACH 2 (DEMAND SIZE): BOTTOM-UP APPROACH FOR ESTIMATION OF SIZE OF EXTENDED REALITY MARKET 36
2.2.1 BOTTOM-UP APPROACH 36
2.2.1.1 Estimating market size using bottom-up analysis (demand side) 36
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 37
2.2.2 TOP-DOWN APPROACH 37
2.2.2.1 Estimating market size using top-down approach (supply side) 37
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 38
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2.3 DATA TRIANGULATION 38
FIGURE 7 DATA TRIANGULATION 38
2.4 RESEARCH ASSUMPTIONS 39
FIGURE 8 RESEARCH ASSUMPTIONS 39
2.5 RESEARCH LIMITATIONS 40
2.6 RISK ASSESSMENT 40
TABLE 1 RISK FACTOR ANALYSIS 40
2.7 FORECASTING ASSUMPTIONS 41
2.8 IMPACT OF RECESSION ON EXTENDED REALITY MARKET 42
3 EXECUTIVE SUMMARY 43
3.1 OVERVIEW OF IMPACT OF RECESSION ON EXTENDED REALITY MARKET 44
3.1.1 GLOBAL ECONOMY OUTLOOK 44
3.1.2 PRE-RECESSION SCENARIO 44
3.1.3 POST-RECESSION SCENARIO 44
FIGURE 9 GROWTH PROJECTION OF EXTENDED REALITY MARKET IN PRE- AND POST-RECESSION SCENARIOS 45
FIGURE 10 AR TECHNOLOGY SEGMENT LED EXTENDED REALITY MARKET FROM 2023 TO 2028 45
FIGURE 11 SOFTWARE OFFERING SEGMENT TO CAPTURE LARGER SIZE OF EXTENDED REALITY MARKET IN 2023 46
FIGURE 12 AUTOMOTIVE SEGMENT EXPECTED TO GROW AT HIGHEST CAGR FROM 2023 TO 2028 47
FIGURE 13 NORTH AMERICA HELD LARGEST SHARE OF EXTENDED REALITY MARKET IN 2022 48
4 PREMIUM INSIGHTS 49
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN EXTENDED REALITY MARKET 49
FIGURE 14 INCREASING DEMAND FOR EXTENDED REALITY DEVICES IN ASIA PACIFIC TO FUEL MARKET GROWTH 49
4.2 EXTENDED REALITY MARKET, BY TECHNOLOGY 49
FIGURE 15 AR TECHNOLOGY SEGMENT TO ACCOUNT FOR LARGEST SIZE OF EXTENDED REALITY MARKET FROM 2023 TO 2028 49
4.3 EXTENDED REALITY MARKET, BY OFFERING 50
FIGURE 16 SOFTWARE SEGMENT TO ACCOUNT FOR LARGER SIZE OF EXTENDED REALITY MARKET DURING FORECAST PERIOD 50
4.4 EXTENDED REALITY MARKET, BY DEVICE TYPE 50
FIGURE 17 VR DEVICES SEGMENT TO ACCOUNT FOR LARGEST SHARE OF EXTENDED REALITY MARKET IN 2028 50
4.5 EXTENDED REALITY MARKET, BY APPLICATION 51
FIGURE 18 CONSUMER ELECTRONICS SEGMENT LIKELY TO CAPTURE MAJOR SIZE OF EXTENDED REALITY MARKET BY 2028 51
4.6 EXTENDED REALITY MARKET, BY REGION 51
FIGURE 19 ASIA PACIFIC TO CAPTURE LARGEST SHARE OF EXTENDED REALITY MARKET IN 2028 51
4.7 EXTENDED REALITY MARKET, BY COUNTRY 52
FIGURE 20 CHINA TO ACCOUNT FOR LARGEST SHARE OF EXTENDED REALITY MARKET FROM 2023 TO 2028 52
5 MARKET OVERVIEW 53
5.1 INTRODUCTION 53
5.2 MARKET DYNAMICS 53
FIGURE 21 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN EXTENDED REALITY MARKET 53
5.2.1 DRIVERS 54
5.2.1.1 Surging deployment of extended reality in education sector and industrial training 54
5.2.1.2 Increasing adoption of extended reality in healthcare sector 54
5.2.1.3 Rising demand for extended reality in entertainment and gaming sectors 55
5.2.1.4 Availability of affordable VR devices 55
5.2.1.5 Increasing ?zoom fatigue’ resulting in rising adoption of XR technologies 56
FIGURE 22 IMPACT ANALYSIS OF DRIVERS ON EXTENDED REALITY MARKET 57
5.2.2 RESTRAINTS 57
5.2.2.1 High installation and maintenance costs of extended reality devices 57
5.2.2.2 Health issues caused by excessive use of extended reality devices 57
FIGURE 23 IMPACT ANALYSIS OF RESTRAINTS ON EXTENDED REALITY MARKET 58
5.2.3 OPPORTUNITIES 58
5.2.3.1 Adoption of extended reality in automotive and enterprise sectors 58
5.2.3.2 Requirement of incorporation of extended reality technology in aerospace & defense sector 59
5.2.3.3 Continuous developments in 5G technology 59
5.2.3.4 Growth of global travel & tourism industry 60
FIGURE 24 IMPACT ANALYSIS OF OPPORTUNITIES ON EXTENDED REALITY MARKET 60
5.2.4 CHALLENGES 61
5.2.4.1 Display latency and limited field of view 61
5.2.4.2 Maintenance of consumer privacy 61
FIGURE 25 IMPACT ANALYSIS OF CHALLENGES ON EXTENDED REALITY MARKET 62
5.3 VALUE CHAIN ANALYSIS 62
FIGURE 26 VALUE CHAIN ANALYSIS: EXTENDED REALITY MARKET 62
FIGURE 27 EXTENDED REALITY MARKET: VALUE CHAIN ANALYSIS OF SOFTWARE PROVIDERS 63
5.4 ECOSYSTEM ANALYSIS 64
FIGURE 28 ECOSYSTEM 64
TABLE 2 EXTENDED REALITY MARKET: ECOSYSTEM 65
5.5 PORTER’S FIVE FORCES ANALYSIS 66
TABLE 3 EXTENDED REALITY MARKET: PORTER’S FIVE FORCES ANALYSIS 66
FIGURE 29 PORTER’S FIVE FORCES ANALYSIS 67
5.5.1 INTENSITY OF COMPETITIVE RIVALRY 67
5.5.2 THREAT OF SUBSTITUTES 68
5.5.3 BARGAINING POWER OF BUYERS 68
5.5.4 BARGAINING POWER OF SUPPLIERS 68
5.5.5 THREAT OF NEW ENTRANTS 68
5.6 TECHNOLOGY ANALYSIS 69
5.6.1 VR MICRODISPLAYS 69
5.6.1.1 LOMID project 69
5.6.1.2 Kopin’s VR HMD microdisplay 69
5.6.2 MONITOR-BASED AR TECHNOLOGY 70
5.6.2.1 Mobile AR technology 70
TABLE 4 USE CASES OF MOBILE AR 71
5.6.3 NEAR-EYE-BASED TECHNOLOGY 71
5.6.4 WEBAR 71
TABLE 5 USE CASES OF WEBAR 72
5.7 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 72
FIGURE 30 REVENUE SHIFTS IN EXTENDED REALITY MARKET 72
5.8 KEY STAKEHOLDERS AND BUYING CRITERIA 73
5.8.1 KEY STAKEHOLDERS IN BUYING PROCESS 73
FIGURE 31 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR MAJOR END-USE APPLICATIONS 73
TABLE 6 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR MAJOR END-USE APPLICATIONS (%) 73
5.8.2 BUYING CRITERIA 74
FIGURE 32 KEY BUYING CRITERIA FOR MAJOR END-USE APPLICATIONS 74
TABLE 7 KEY BUYING CRITERIA FOR MAJOR END-USE APPLICATIONS 74
5.9 CASE STUDY ANALYSIS 75
5.9.1 GATE AUGMENTED REALITY PLATFORM TO OFFER HIGH LEVEL OF WORK STANDARDIZATION IN PHARMACEUTICAL INDUSTRY 75
5.9.2 AWS TO HELP VOLKSWAGEN GROUP SPEED UP PREPARING 3D DATA AND REMOTE RENDERING PROCESS 76
5.9.3 PROVIDING DYNAMIC SALES TRAINING TO TEAMS OF ROYAL ENFIELD DURING COVID-19 USING VUFORIA STUDIO 76
5.9.4 JOINING FORCES OF ELLICOM AND OVA TO TAKE IMMERSIVE LEARNING TO NEXT LEVEL 77
5.9.5 OFFERING SURGICAL TRAINING EXPERIENCES IN VIRTUAL REALITY 77
5.10 PRICING ANALYSIS 77
5.10.1 AVERAGE SELLING PRICE (ASP) TREND OF PRODUCTS OFFERED BY KEY PLAYERS 77
TABLE 8 AVERAGE SELLING PRICE OF EXTENDED REALITY HEADSETS OFFERED BY KEY PLAYERS 78
FIGURE 33 AVERAGE SELLING PRICE OF EXTENDED REALITY HEADSETS OFFERED BY KEY PLAYERS 78
TABLE 9 AVERAGE SELLING PRICE OF SDKS OFFERED BY KEY PLAYERS 79
FIGURE 34 AVERAGE SELLING PRICE OF EXTENDED REALITY HEADSETS OFFERED BY KEY PLAYERS 79
5.11 PATENT ANALYSIS 80
TABLE 10 KEY PATENTS FROM 2019 TO 2022 80
TABLE 11 TOP 20 PATENT OWNERS, 2013–2022 83
FIGURE 35 TOP 10 PATENT APPLICANTS, 2013–2022 84
FIGURE 36 PATENTS GRANTED WORLDWIDE, 2013–2022 84
5.12 TRADE ANALYSIS 85
5.12.1 IMPORT SCENARIO 85
TABLE 12 IMPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION) 85
FIGURE 37 IMPORT DATA, BY COUNTRY, 2017–2022 86
5.12.2 EXPORT SCENARIO 86
TABLE 13 EXPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION) 86
FIGURE 38 EXPORT DATA, BY COUNTRY, 2017–2021 87
5.13 KEY CONFERENCES & EVENTS, 2023–2024 87
TABLE 14 EXTENDED REALITY MARKET: DETAILED LIST OF CONFERENCES & EVENTS 87
5.14 TARIFF ANALYSIS AND REGULATORY FRAMEWORK 88
5.14.1 TARIFF ANALYSIS 88
5.14.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 89
5.14.2.1 North America 89
5.14.2.2 Europe 89
5.14.3 STANDARDS 90
6 TYPES OF EXTENDED REALITY DEVICES 91
6.1 INTRODUCTION 91
FIGURE 39 TYPES OF EXTENDED REALITY DEVICES 91
6.2 MOBILE EXTENDED REALITY DEVICES 91
6.2.1 SMARTPHONE EXTENDED REALITY DEVICES 91
6.2.2 STANDALONE EXTENDED REALITY DEVICES 92
6.3 PC-TETHERED EXTENDED REALITY DEVICES 92
7 APPLICATIONS OF EXTENDED REALITY SOLUTIONS BY DIFFERENT ENTERPRISES 93
7.1 INTRODUCTION 93
FIGURE 40 DIFFERENT TYPES OF ENTERPRISES USING EXTENDED REALITY SOLUTIONS 93
7.2 SMALL ENTERPRISES 93
7.3 MID-SIZED ENTERPRISES 94
7.4 LARGE ENTERPRISES 95
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8 EXTENDED REALITY MARKET, BY TECHNOLOGY 96
8.1 INTRODUCTION 97
FIGURE 41 EXTENDED REALITY MARKET, BY TECHNOLOGY 97
TABLE 15 EXTENDED REALITY MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION) 97
FIGURE 42 AR TECHNOLOGY SEGMENT TO HOLD LARGEST SIZE OF EXTENDED REALITY MARKET FROM 2023 TO 2028 98
TABLE 16 EXTENDED REALITY MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 98
8.2 AR TECHNOLOGY 99
8.2.1 MARKER-BASED AR TECHNOLOGY 99
8.2.1.1 Passive markers 100
8.2.1.1.1 Use computer vision methods for recognition 100
8.2.1.2 Active markers 100
8.2.1.2.1 Use LEDs to track objects 100
8.2.2 MARKERLESS AR TECHNOLOGY 100
8.2.2.1 Model-based tracking 100
8.2.2.1.1 Used to track position and orientation of physical objects in real time 100
8.2.2.2 Image processing-based tracking 101
8.2.2.2.1 Requires optical scanners or cameras to process images 101
8.2.3 ANCHOR-BASED AR TECHNOLOGY 101
8.2.3.1 Used to overlay virtual images in real space 101
TABLE 17 AR TECHNOLOGY: EXTENDED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION) 101
FIGURE 43 EXTENDED REALITY MARKET IN ASIA PACIFIC LIKELY TO GROW AT HIGHEST CAGR FROM 2023 TO 2028 102
TABLE 18 AR TECHNOLOGY: EXTENDED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION) 102
TABLE 19 NORTH AMERICA: EXTENDED REALITY MARKET FOR AR TECHNOLOGY, BY COUNTRY, 2019–2022 (USD MILLION) 103
TABLE 20 NORTH AMERICA: EXTENDED REALITY MARKET FOR AR TECHNOLOGY, BY COUNTRY, 2023–2028 (USD MILLION) 103
TABLE 21 EUROPE: EXTENDED REALITY MARKET FOR AR TECHNOLOGY, BY COUNTRY, 2019–2022 (USD MILLION) 103
TABLE 22 EUROPE: EXTENDED REALITY MARKET FOR AR TECHNOLOGY, BY COUNTRY, 2023–2028 (USD MILLION) 104
TABLE 23 ASIA PACIFIC: EXTENDED REALITY MARKET FOR AR TECHNOLOGY, BY COUNTRY, 2019–2022 (USD MILLION) 104
TABLE 24 ASIA PACIFIC: EXTENDED REALITY MARKET FOR AR TECHNOLOGY, BY COUNTRY, 2023–2028 (USD MILLION) 104
TABLE 25 REST OF THE WORLD: EXTENDED REALITY MARKET FOR AR TECHNOLOGY, BY REGION, 2019–2022 (USD MILLION) 105
TABLE 26 REST OF THE WORLD: EXTENDED REALITY MARKET FOR AR TECHNOLOGY, BY REGION, 2023–2028 (USD MILLION) 105
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8.3 VR TECHNOLOGY 105
8.3.1 NON-IMMERSIVE 106
8.3.1.1 Can be experienced on wide range of devices 106
8.3.2 SEMI-IMMERSIVE AND FULLY IMMERSIVE 106
8.3.2.1 More expensive than non-immersive systems 106
TABLE 27 VR TECHNOLOGY: EXTENDED REALITY MARKET, BY TECHNOLOGY TYPE, 2019–2022 (USD MILLION) 107
FIGURE 44 SEMI-IMMERSIVE AND FULLY IMMERSIVE SEGMENT OF VR TECHNOLOGY TO REGISTER HIGHER CAGR FROM 2023 TO 2028 107
TABLE 28 VR TECHNOLOGY: EXTENDED REALITY MARKET, BY TECHNOLOGY TYPE, 2023–2028 (USD MILLION) 108
TABLE 29 VR TECHNOLOGY: EXTENDED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION) 108
TABLE 30 VR TECHNOLOGY: EXTENDED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION) 108
TABLE 31 NORTH AMERICA: EXTENDED REALITY MARKET FOR VR TECHNOLOGY, BY COUNTRY, 2019–2022 (USD MILLION) 109
TABLE 32 NORTH AMERICA: EXTENDED REALITY MARKET FOR VR TECHNOLOGY, BY COUNTRY, 2023–2028 (USD MILLION) 109
TABLE 33 EUROPE: EXTENDED REALITY MARKET FOR VR TECHNOLOGY, BY COUNTRY, 2019–2022 (USD MILLION) 109
TABLE 34 EUROPE: EXTENDED REALITY MARKET FOR VR TECHNOLOGY, BY COUNTRY, 2023–2028 (USD MILLION) 110
TABLE 35 ASIA PACIFIC: EXTENDED REALITY MARKET FOR VR TECHNOLOGY, BY COUNTRY, 2019–2022 (USD MILLION) 110
TABLE 36 ASIA PACIFIC: EXTENDED REALITY MARKET FOR VR TECHNOLOGY, BY COUNTRY, 2023–2028 (USD MILLION) 110
TABLE 37 REST OF THE WORLD: EXTENDED REALITY MARKET FOR VR TECHNOLOGY, BY REGION, 2019–2022 (USD MILLION) 111
TABLE 38 REST OF THE WORLD: EXTENDED REALITY MARKET FOR VR TECHNOLOGY, BY REGION, 2023–2028 (USD MILLION) 111
8.4 MR TECHNOLOGY 111
8.4.1 HOLOGRAPHIC TECHNOLOGY 111
8.4.1.1 Can place digital content in real world 111
8.4.2 IMMERSIVE TECHNOLOGY 112
8.4.2.1 Creates sense of presence by hiding physical world and replacing it with digital experience 112
TABLE 39 MR TECHNOLOGY: EXTENDED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION) 112
TABLE 40 MR TECHNOLOGY: EXTENDED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION) 112
TABLE 41 NORTH AMERICA: EXTENDED REALITY MARKET FOR MR TECHNOLOGY, BY COUNTRY, 2019–2022 (USD MILLION) 113
TABLE 42 NORTH AMERICA: EXTENDED REALITY MARKET FOR MR TECHNOLOGY, BY COUNTRY, 2023–2028 (USD MILLION) 113
TABLE 43 EUROPE: EXTENDED REALITY MARKET FOR MR TECHNOLOGY, BY COUNTRY, 2019–2022 (USD MILLION) 113
TABLE 44 EUROPE: EXTENDED REALITY MARKET FOR MR TECHNOLOGY, BY COUNTRY, 2023–2028 (USD MILLION) 114
TABLE 45 ASIA PACIFIC: EXTENDED REALITY MARKET FOR MR TECHNOLOGY, BY COUNTRY, 2019–2022 (USD MILLION) 114
TABLE 46 ASIA PACIFIC: EXTENDED REALITY MARKET FOR MR TECHNOLOGY, BY COUNTRY, 2023–2028 (USD MILLION) 114
TABLE 47 REST OF THE WORLD: EXTENDED REALITY MARKET FOR MR TECHNOLOGY, BY REGION, 2019–2022 (USD MILLION) 115
TABLE 48 REST OF THE WORLD: EXTENDED REALITY MARKET FOR MR TECHNOLOGY, BY REGION, 2023–2028 (USD MILLION) 115
9 EXTENDED REALITY MARKET, BY OFFERING 116
9.1 INTRODUCTION 117
FIGURE 45 EXTENDED REALITY MARKET, BY OFFERING 117
TABLE 49 EXTENDED REALITY MARKET, BY OFFERING, 2019–2022 (USD MILLION) 117
FIGURE 46 SOFTWARE SEGMENT TO HOLD LARGER SHARE OF EXTENDED REALITY MARKET FROM 2023 TO 2028 118
TABLE 50 EXTENDED REALITY MARKET, BY OFFERING, 2023–2028 (USD MILLION) 118
9.2 HARDWARE 119
9.2.1 SENSORS 119
9.2.1.1 Help detect motion, velocity, magnetic field, and presence of objects 119
9.2.1.2 Accelerometers 119
9.2.1.3 Gyroscopes 119
9.2.1.4 Magnetometers 120
9.2.1.5 Proximity sensors 120
9.2.2 SEMICONDUCTOR COMPONENTS 120
9.2.2.1 Controllers and processors among core components in extended reality devices 120
9.2.2.2 Controllers and processors 120
9.2.2.3 Integrated circuits 121
9.2.3 DISPLAYS AND PROJECTORS 121
9.2.3.1 To hold significant share of extended reality hardware market 121
9.2.4 POSITION TRACKERS 121
9.2.4.1 Help maintain position accuracy in extended reality devices 121
9.2.5 CAMERAS 122
9.2.5.1 Form crucial components to measure depth and amplitude of objects 122
9.2.6 OTHERS 122
TABLE 51 HARDWARE: EXTENDED REALITY MARKET, BY COMPONENT, 2019–2022 (USD MILLION) 123
FIGURE 47 DISPLAYS AND PROJECTORS TO DOMINATE EXTENDED REALITY HARDWARE MARKET IN 2023 123
TABLE 52 HARDWARE: EXTENDED REALITY MARKET, BY COMPONENT, 2023–2028 (USD MILLION) 124
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9.3 SOFTWARE 124
9.3.1 SOFTWARE DEVELOPMENT KITS 124
9.3.1.1 Provide tools to design, create, and test AR, VR, and MR experiences 124
9.3.2 CLOUD-BASED SERVICES 125
9.3.2.1 Support high-resolution graphics 125
TABLE 53 AR SOFTWARE: EXTENDED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 126
TABLE 54 AR SOFTWARE: EXTENDED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 126
TABLE 55 VR SOFTWARE: EXTENDED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 127
TABLE 56 VR SOFTWARE: EXTENDED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 127
TABLE 57 MR SOFTWARE: EXTENDED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 128
TABLE 58 MR SOFTWARE: EXTENDED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 128
10 EXTENDED REALITY MARKET, BY DEVICE TYPE 129
10.1 INTRODUCTION 130
FIGURE 48 EXTENDED REALITY MARKET, BY DEVICE TYPE 130
TABLE 59 EXTENDED REALITY MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION) 130
FIGURE 49 AR DEVICES SEGMENT TO GROW AT HIGHEST CAGR FROM 2023 TO 2028 130
TABLE 60 EXTENDED REALITY MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION) 131
TABLE 61 EXTENDED REALITY MARKET, BY DEVICE TYPE, 2019–2022 (THOUSAND UNITS) 131
TABLE 62 EXTENDED REALITY MARKET, BY DEVICE TYPE, 2023–2028 (THOUSAND UNITS) 132
10.2 AR DEVICES 132
10.2.1 HEAD-MOUNTED DISPLAYS (HMDS) 132
10.2.1.1 Show integrated images of real and virtual environments 132
10.2.1.2 AR smart glasses 133
10.2.1.2.1 Adopted by companies to improve work efficiency 133
10.2.1.3 Smart helmets 133
10.2.1.3.1 Used in construction sector to optimize workflow 133
TABLE 63 AR DEVICES: EXTENDED REALITY MARKET, BY SUB-TYPE, 2019–2022 (USD MILLION) 133
TABLE 64 AR DEVICES: EXTENDED REALITY MARKET, BY SUB-TYPE, 2023–2028 (USD MILLION) 134
TABLE 65 AR HMD: EXTENDED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 134
FIGURE 50 ENTERPRISES SEGMENT TO DOMINATE AR DEVICES MARKET IN 2023 134
TABLE 66 AR HMD: EXTENDED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 135
10.2.2 HEADS-UP DISPLAYS (HUDS) 135
10.2.2.1 To be widely used for different applications in future 135
TABLE 67 AR HUD: EXTENDED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 136
TABLE 68 AR HUD: EXTENDED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 136
10.3 VR DEVICES 137
TABLE 69 VR DEVICES: EXTENDED REALITY MARKET, BY SUB-TYPE, 2019–2022 (USD MILLION) 137
TABLE 70 VR DEVICES: EXTENDED REALITY MARKET, BY SUB-TYPE, 2023–2028 (USD MILLION) 137
10.3.1 HEAD-MOUNTED DISPLAYS (HMDS) 137
10.3.1.1 Increasing being used in gaming and entertainment applications 137
TABLE 71 VR HMD: EXTENDED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 138
TABLE 72 VR HMD: EXTENDED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 138
10.3.2 PROJECTORS AND DISPLAY WALLS 139
10.3.2.1 Offer new growth avenues for VR hardware manufacturers 139
TABLE 73 VR PROJECTORS & DISPLAY WALLS: EXTENDED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 139
TABLE 74 VR PROJECTORS & DISPLAY WALLS: EXTENDED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 140
10.3.3 GESTURE-TRACKING DEVICES 140
10.3.3.1 To play crucial role in healthcare and gaming applications 140
10.3.3.2 Data gloves 140
10.3.3.3 Others 140
TABLE 75 VR GESTURE-TRACKING DEVICES: EXTENDED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 141
TABLE 76 VR GESTURE-TRACKING DEVICES: EXTENDED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 141
10.4 MR DEVICES 141
10.4.1 PLACE OBJECTS OR VIRTUAL BEINGS INTO PHYSICAL SITUATIONS FOR USERS 141
TABLE 77 MR DEVICES: EXTENDED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 142
TABLE 78 MR DEVICES: EXTENDED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 142
11 EXTENDED REALITY MARKET, BY APPLICATION 143
11.1 INTRODUCTION 144
FIGURE 51 EXTENDED REALITY MARKET, BY APPLICATION 144
TABLE 79 EXTENDED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 144
FIGURE 52 CONSUMER SEGMENT TO HOLD LARGEST SIZE OF EXTENDED REALITY MARKET FROM 2023 TO 2028 145
TABLE 80 EXTENDED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 145
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11.2 CONSUMER 146
11.2.1 GAMING 146
11.2.1.1 Enhances gaming interactivity and provides highly immersive experience to gamers 146
11.2.2 SPORTS AND ENTERTAINMENT 147
11.2.2.1 Sports 147
11.2.2.1.1 Enhances training and viewing experience for players and audience 147
11.2.2.2 Entertainment 148
11.2.2.2.1 Enhances viewing experience and interactivity of visitors in museums, theme parks, and exhibitions 148
TABLE 81 CONSUMER: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION) 148
TABLE 82 CONSUMER: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION) 149
TABLE 83 CONSUMER: EXTENDED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION) 149
FIGURE 53 ASIA PACIFIC TO BE FASTEST-GROWING EXTENDED REALITY MARKET FROM 2023 TO 2028 149
TABLE 84 CONSUMER: EXTENDED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION) 150
11.3 COMMERCIAL 150
11.3.1 RETAIL AND E-COMMERCE 150
11.3.1.1 Jewelry 151
11.3.1.1.1 Enables consumers to try jewelry before buying 151
11.3.1.2 Beauty and cosmetics 151
11.3.1.2.1 Virtual testing of cosmetic products to drive growth of extended reality market worldwide 151
11.3.1.3 Apparel fitting 152
11.3.1.3.1 Virtual trial rooms to attract customer attention 152
11.3.1.4 Grocery shopping 152
11.3.1.4.1 Provides personalized product tips to buyers during grocery shopping 152
11.3.1.5 Footwear 152
11.3.1.5.1 Virtual try-before-you-buy feature contributes to use of extended reality in footwear 152
11.3.1.6 Furniture and light designing 152
11.3.1.6.1 Reduced product exchange rates owing to use of extended reality in furniture and light designing 152
11.3.1.7 Advertisements and demonstration 153
11.3.1.7.1 Enables proper virtual demonstration of products 153
11.3.2 TRAVEL AND TOURISM 153
11.3.2.1 Used to enhance traveling experience of tourists 153
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11.3.3 E-LEARNING 154
11.3.3.1 Enables interactive learning experience for students 154
TABLE 85 COMMERCIAL: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION) 154
TABLE 86 COMMERCIAL: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION) 154
TABLE 87 COMMERCIAL: EXTENDED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION) 155
FIGURE 54 ASIA PACIFIC TO DOMINATE EXTENDED REALITY MARKET FOR COMMERCIAL DURING FORECAST PERIOD 155
TABLE 88 COMMERCIAL: EXTENDED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION) 155
11.4 ENTERPRISES (MANUFACTURING) 156
11.4.1 AIDS ENTERPRISES IN PROVIDING IMPROVED TRAINING TO THEIR WORKFORCE BY VISUALIZING CONTENT 156
TABLE 89 ENTERPRISES: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION) 156
TABLE 90 ENTERPRISES: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION) 157
TABLE 91 ENTERPRISES: EXTENDED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION) 157
FIGURE 55 ENTERPRISES APPLICATION IN ASIA PACIFIC LIKELY TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 157
TABLE 92 ENTERPRISES: EXTENDED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION) 158
11.5 HEALTHCARE 158
11.5.1 SURGERIES 159
11.5.1.1 Help save lives and treat patients seamlessly irrespective of severity of issues 159
11.5.2 FITNESS MANAGEMENT 159
11.5.2.1 Helps add interactivity and fun to workouts 159
11.5.3 PATIENT MANAGEMENT 160
11.5.3.1 Remote consulting feature drives use of extended reality in patient management 160
11.5.4 PHARMACY MANAGEMENT 160
11.5.4.1 Enables improved scheduling of medicine flow 160
11.5.5 MEDICAL TRAINING AND EDUCATION 160
11.5.5.1 Enrich learning experience for students 160
11.5.6 OTHERS 161
TABLE 93 HEALTHCARE: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION) 161
FIGURE 56 AR DEVICES SEGMENT OF HEALTHCARE APPLICATION TO REGISTER HIGHEST CAGR FROM 2023 TO 2028 162
TABLE 94 HEALTHCARE: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION) 162
TABLE 95 HEALTHCARE: EXTENDED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION) 163
TABLE 96 HEALTHCARE: EXTENDED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION) 163
11.6 AEROSPACE AND DEFENSE 163
11.6.1 SIMULATION TRAINING TO BE KEY FACTOR FOR ADOPTION OF EXTENDED REALITY IN AEROSPACE AND DEFENSE APPLICATIONS 163
TABLE 97 AEROSPACE & DEFENSE: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION) 164
TABLE 98 AEROSPACE & DEFENSE: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION) 165
TABLE 99 AEROSPACE & DEFENSE: EXTENDED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION) 165
FIGURE 57 ASIA PACIFIC TO DOMINATE EXTENDED REALITY MARKET FOR AEROSPACE & DEFENSE APPLICATION FROM 2023 TO 2028 165
TABLE 100 AEROSPACE & DEFENSE: EXTENDED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION) 166
11.7 ENERGY 166
11.7.1 XR TECHNOLOGY HELPS ENSURE SAFETY IN OIL AND GAS INDUSTRY 166
TABLE 101 ENERGY: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION) 167
TABLE 102 ENERGY: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION) 167
TABLE 103 ENERGY: EXTENDED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION) 167
TABLE 104 ENERGY: EXTENDED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION) 167
11.8 AUTOMOTIVE 168
11.8.1 LIKELY TO REGISTER HIGHEST GROWTH RATE DURING FORECAST PERIOD 168
TABLE 105 AUTOMOTIVE: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION) 169
TABLE 106 AUTOMOTIVE: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION) 169
TABLE 107 AUTOMOTIVE: EXTENDED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION) 170
TABLE 108 AUTOMOTIVE: EXTENDED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION) 170
11.9 OTHERS 170
11.9.1 TELECOMMUNICATIONS/IT DATA CENTERS 170
11.9.2 AGRICULTURE 171
11.9.3 REAL ESTATE 171
11.9.4 GEOSPATIAL MINING 171
11.9.5 TRANSPORTATION AND LOGISTICS 172
11.9.6 CONSTRUCTION 172
11.9.7 PUBLIC SAFETY 172
TABLE 109 OTHERS: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2019–2022 (USD MILLION) 173
TABLE 110 OTHERS: EXTENDED REALITY MARKET, BY DEVICE TYPE, 2023–2028 (USD MILLION) 173
TABLE 111 OTHERS: EXTENDED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION) 173
TABLE 112 OTHERS: EXTENDED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION) 173
12 EXTENDED REALITY MARKET, BY REGION 174
12.1 INTRODUCTION 175
FIGURE 58 EXTENDED REALITY MARKET, BY REGION 175
TABLE 113 EXTENDED REALITY MARKET, BY REGION, 2019–2022 (USD MILLION) 175
FIGURE 59 ASIA PACIFIC TO ACCOUNT FOR LARGEST SIZE OF EXTENDED REALITY MARKET FROM 2023 TO 2028 176
TABLE 114 EXTENDED REALITY MARKET, BY REGION, 2023–2028 (USD MILLION) 176
12.2 NORTH AMERICA 177
FIGURE 60 NORTH AMERICA: EXTENDED REALITY MARKET SNAPSHOT 178
TABLE 115 NORTH AMERICA: EXTENDED REALITY MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION) 178
TABLE 116 NORTH AMERICA: EXTENDED REALITY MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 179
TABLE 117 NORTH AMERICA: EXTENDED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 179
TABLE 118 NORTH AMERICA: EXTENDED REALITY MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 180
TABLE 119 NORTH AMERICA: EXTENDED REALITY MARKET, BY COUNTRY, 2019–2022 (USD MILLION) 180
TABLE 120 NORTH AMERICA: EXTENDED REALITY MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 180
12.2.1 IMPACT OF RECESSION ON NORTH AMERICA 181
12.2.2 US 181
12.2.2.1 Surging use of extended reality technology for marketing and promotional campaigns to contribute to market growth 181
12.2.3 CANADA 182
12.2.3.1 Increasing investments in cutting-edge technologies to fuel market growth 182
12.2.4 MEXICO 182
12.2.4.1 Evolving industrial sector to drive market growth 182
12.3 EUROPE 182
FIGURE 61 EUROPE: EXTENDED REALITY MARKET SNAPSHOT 184
TABLE 121 EUROPE: EXTENDED REALITY MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION) 184
TABLE 122 EUROPE: EXTENDED REALITY MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION) 185
TABLE 123 EUROPE: EXTENDED REALITY MARKET, BY APPLICATION, 2019–2022 (USD MILLION) 185
FIGURE 62 AUTOMOTIVE SEGMENT TO GROW AT HIGHEST CAGR IN EXTENDED REALITY MARKET IN EURO



14 COMPANY PROFILES 218
14.1 KEY PLAYERS 218
(Business Overview, Products/Solutions offered, Recent Developments, MnM View)*
14.1.1 META PLATFORMS, INC. 218
TABLE 151 META PLATFORMS, INC.: BUSINESS OVERVIEW 218
FIGURE 69 META PLATFORMS, INC.: COMPANY SNAPSHOT 219
TABLE 152 META PLATFORMS, INC.: PRODUCT LAUNCHES 220
TABLE 153 META PLATFORMS, INC.: DEALS 221
14.1.2 MICROSOFT 223
TABLE 154 MICROSOFT: BUSINESS OVERVIEW 223
FIGURE 70 MICROSOFT: COMPANY SNAPSHOT 224
TABLE 155 MICROSOFT: PRODUCT LAUNCHES 225
TABLE 156 MICROSOFT: DEALS 226
14.1.3 SONY GROUP CORPORATION 228
TABLE 157 SONY GROUP CORPORATION: BUSINESS OVERVIEW 228
FIGURE 71 SONY GROUP CORPORATION: COMPANY SNAPSHOT 229
TABLE 158 SONY GROUP CORPORATION: PRODUCT LAUNCHES 230
TABLE 159 SONY GROUP CORPORATION: DEALS 231
14.1.4 APPLE INC. 232
TABLE 160 APPLE INC.: BUSINESS OVERVIEW 232
FIGURE 72 APPLE INC.: COMPANY SNAPSHOT 233
TABLE 161 APPLE INC.: PRODUCT LAUNCHES 234
TABLE 162 APPLE INC.: DEALS 235
14.1.5 GOOGLE 237
TABLE 163 GOOGLE: BUSINESS OVERVIEW 237
FIGURE 73 GOOGLE: COMPANY SNAPSHOT 238
TABLE 164 GOOGLE: PRODUCT LAUNCHES 239
TABLE 165 GOOGLE: DEALS 240
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14.1.6 HTC CORPORATION 241
TABLE 166 HTC CORPORATION: BUSINESS OVERVIEW 241
FIGURE 74 HTC CORPORATION: COMPANY SNAPSHOT 242
TABLE 167 HTC CORPORATION: PRODUCT LAUNCHES 243
14.1.7 PTC INC. 245
TABLE 168 PTC INC.: BUSINESS OVERVIEW 245
FIGURE 75 PTC INC.: COMPANY SNAPSHOT 246
TABLE 169 PTC INC.: PRODUCT LAUNCHES 247
TABLE 170 PTC INC.: DEALS 247
14.1.8 SEIKO EPSON CORPORATION 249
TABLE 171 SEIKO EPSON CORPORATION: BUSINESS OVERVIEW 249
FIGURE 76 SEIKO EPSON CORPORATION: COMPANY SNAPSHOT 250
TABLE 172 SEIKO EPSON CORPORATION: PRODUCT LAUNCHES 251
TABLE 173 SEIKO EPSON CORPORATION: DEALS 252
14.1.9 QUALCOMM TECHNOLOGIES, INC. 253
TABLE 174 QUALCOMM TECHNOLOGIES, INC.: BUSINESS OVERVIEW 253
FIGURE 77 QUALCOMM TECHNOLOGIES, INC.: COMPANY SNAPSHOT 254
TABLE 175 QUALCOMM TECHNOLOGIES, INC.: PRODUCT LAUNCHES 255
TABLE 176 QUALCOMM TECHNOLOGIES, INC.: DEALS 257
TABLE 177 QUALCOMM TECHNOLOGIES, INC.: OTHERS 258
14.1.10 SAMSUNG ELECTRONICS CO., LTD. 259
TABLE 178 SAMSUNG ELECTRONICS CO., LTD.: BUSINESS OVERVIEW 259
FIGURE 78 SAMSUNG ELECTRONICS CO., LTD.: COMPANY SNAPSHOT 260
TABLE 179 SAMSUNG ELECTRONICS CO., LTD.: PRODUCT LAUNCHES 261
TABLE 180 SAMSUNG ELECTRONICS CO., LTD.: DEALS 261
14.2 OTHER PLAYERS 262
14.2.1 LENOVO 262
14.2.2 INTEL CORPORATION 263
14.2.3 PANASONIC HOLDINGS CORPORATION 264
14.2.4 EON REALITY 265
14.2.5 CONTINENTAL AG 266
14.2.6 VISTEON CORPORATION 267
14.2.7 XIAOMI CORPORATION 268
14.2.8 MAXST CO., LTD. 269
14.2.9 MAGIC LEAP, INC. 270
14.2.10 VIRTUIX 271
14.2.11 ULTRALEAP 272
14.2.12 VUZIX CORPORATION 273
14.2.13 NORTHERN DIGITAL INC. 274
14.2.14 TATA ELXSI 275
14.2.15 FUSION VR 276
*Details on Business Overview, Products/Solutions offered, Recent Developments, MnM View might not be captured in case of unlisted companies.
15 APPENDIX 277
15.1 DISCUSSION GUIDE 277
15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 280
15.3 CUSTOMIZATION OPTIONS 282
15.4 RELATED REPORTS 282
15.5 AUTHOR DETAILS 283