The constantly rising demand for immersive gaming as well as entertainment solutions as well as the continuous developments and advancements in augmented reality (AR) and virtual reality (VR) as well as mixed reality (MR) are supplementing the development of the global extended reality (XR) market. Used across various end use industries, such as retail, education, military and defense, engineering, real estate, healthcare, and media and entertainment, the solutions in the global extended reality (XR) market experience heavy demand owing to consumer preference for all-round and enhanced entertainment. This trend is further supported by the considerable increase in the disposable income amongst population living in urban areas and developed economies. Other notable driver for the expansion of the global extended reality (XR) market is the development and enhancements in AR/ VR/ MR platforms.
The global gaming industry is likely to further propel the demand within the global extended reality (XR) market. Ever since the emergence of crude virtual reality headsets, the field of virtual reality gaming has seen many upgrades and various ingenious technologies. Advancements in gaming controls, hardware, and gaming titles and technologies is also expected to supplement the trajectory of the global extended reality (XR) market in near future. The extended reality (XR) market ecosystem is also flourishing, owing to the rising popularity of innovative and immersive entertainment solutions as well as the increasing proliferation of smart phones. Furthermore, the constantly ongoing innovations and developments in technologies and hardware supporting XR and VR gaming is also driving the growth in the global extended reality (XR) market.
The emergence and constantly rising consumer demand for stimulated digital environment for immersive gaming and entertainment is most likely to provide players and developers in the global extended reality (XR) market with various creative and lucrative growth opportunities. The major incumbent players and developers functional within the global extended reality (XR) market include Dell Technologies, Inc., Google, Inc., Microsoft Corporation, Honeywell International, Inc., Nokia Corporation, Samsung Electronics Co. Ltd., Qualcomm Incorporated, HTC Corporation, and Oculus VR LLC, among others.
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