Industrial Safety Market by Industry (Energy & Power, Automotive, Oil & Gas) Region - Global Forecas

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Extended Reality Market by Technology (AR, VR, MR), Application (Consumer, Commercial, Enterprises, Healthcare, Aerospace and Defense), Offering, Device Type, and Region(North America, Europe, APAC) - 2026

The Extended reality market report share is estimated to be USD 33.0 billion in 2021 and expected to reach reach USD 125.2 billion by 2026, at a CAGR of 30.6% from 2021 to 2026

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VR devices to account for the largest share of extended reality market in 2020

On the basis of device type, the market is categorized into AR devices, VR devices, and MR devices. The growth of the VR devices segment of the market is expected to be led by HMD.

These displays from companies such as Sony, Oculus, HTC, Samsung, and Google have received an overwhelming response from users. The key applications of HMD are gaming and entertainment. Gesture-tracking devices have been an integral part of VR hardware owing to their risen use in consumer applications.

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Consumer application to hold the largest share of the market during forecast period

On the basis of applications, the market is categorized into consumer, commercial, enterprise (manufacturing), healthcare, aerospace & defense, energy, automotive, and others.

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The consumer segment of the market comprises gaming and entertainment applications wherein AR technology is used to create 3D visual objects in the real world. The flourishing gaming and sports and entertainment sectors fuel the use of AR technology in consumer applications. VR technology also offers remarkable results regarding visual effects when used in gaming and sports broadcasts. The demand for HMD is high in consumer applications.

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North America is leading the market extended reality in 2020

North America held the largest share in the extended reality market in 2020. Growing use of smartphones, increasing adoption of smart electronic devices, and surging demand for extended reality technology in various applications are the key factors fueling the growth of the extended reality market in North America.

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Some of the key companies operating in the market are

• Microsoft (US),

• Sony (Japan),

• Oculus VR (Facebook) (US),

• HTC (Taiwan), Google (US),

• Samsung Electronics (South Korea),

• Apple (US),

• PTC (US),

• Seiko Epson (Japan), and so on.

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