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Extended Reality Market to Reach $446.6 Billion, Globally, by 2031 at 30.1% CAGR: Allied Market ResearchIncreasing investments in extended reality and increasing adoption of XR in healthcare industry primarily drive growth of the extended reality market. PORTLAND, Ore., Feb. 27, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Extended Reality Market by Component (Hardware, Software, and Services), Technology (Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR)), End User (Retail, Healthcare, Education, Manufacturing, Aerospace and Defense, Gaming, Media and Entertainment and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031" According to the report, the global extended reality industry generated $33 billion in 2021, and is estimated to reach $446.6 billion by 2031, witnessing a CAGR of 30.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.  Drivers, Restraints, and Opportunities Factors such as increasing investments in extended reality and Increasing adoption of XR in healthcare industry primarily drive growth of the extended reality market. However, immoderate use of XR device has negative health effects and worldwide economic downturn because of COVID-19 hamper market growth to some extent. Moreover, continuous 5G technology advancements are expected to provide lucrative opportunities for market growth during the forecast period. Download Sample Report at: https://www.alliedmarketresearch.com/request-sample/7305 Covid-19 scenario
Procure Complete Report (400 Pages PDF with Insights, Charts, Tables, and Figures) at: https://www.alliedmarketresearch.com/checkout-final/1257a36614c1d7d4db7b71fad52b21af The hardware segment to rule the roost By component, the hardware segment held the major share in 2021, garnering around half of the global extended reality market revenue. The software segment would also showcase the fastest CAGR of 31.9% during the forecast period. Rise in enterprises who are investing heavily on the hardware to provide personalizedXR experience and improvising the designs as per changing demands across the globe., thus driving the segment growth. The virtual reality (VR) segment to maintain its dominance during the forecast period By technology, the virtual reality (VR) contributed to the highest share in 2021, accounting for around one-third of the global extended reality market revenue. The augmented reality (AR) segment would also showcase the fastest CAGR of 31.8% throughout the forecast period. Need of VR technology for frequently on high-quality video and rendering and extremely low latency in order to make these experiences conceivable (and also seamless) for the end-user, thus driving the segment growth. The gaming segment to dominate by 2031 By end user, the gaming segment accounted for nearly two-fifth of the global extended reality market share in 2021, and is expected to rule the roost by 2031. The retail segment would also display the fastest CAGR of 33.3% throughout the forecast period, owing to rise in improving the shopping experience and numerous tempting applications for augmented reality in fashion has a positive impact on productivity and economic and social development drive growth of the market. Enquire before buying at: https://www.alliedmarketresearch.com/purchase-enquiry/7305 North America garnered the major share in 2021 By region, North America garnered the highest share in 2021, holding nearly one-third of the global extended reality market revenue in 2021, and is projected to retain its dominance by 2031. The Asia-Pacific region would also portray the fastest CAGR of 32.4% during the forecast period. The increased use of smartphones and other connected devices in gaming, media and entertainment, healthcare, and other sectors aiding the growth of North America extended reality market. Leading Market Players
The report analyzes these key players in the global extended reality market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player. Trending Reports in ICT & Media Industry: XR Headset Market Expected to Reach $401.4 million by 2031 Virtual Humans Market Expected to Reach $440.3 Billion by 2031 Human Machine Interface Market Expected to Reach $10.8 Billion by 2031 Artificial Intelligence And Robotics In Aerospace And Defense Market Expected to Reach $35.9 Billion by 2031 About Us Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact: David Correa Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
SOURCE Allied Market Research 
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