New York City, NY -- (SBWIRE) -- 08/28/2020 -- The global extended reality market attained a valuation of $18.6 billion in 2019 and is predicted to progress at a CAGR of 48.3% from 2020 to 2030. The rising usage of connected devices and smartphones, increasing adoption of virtual reality (VR)/augmented reality (AR) solutions, and the growing number of collaborations being announced among the market players are the main factors fueling the surge of the extended reality industry.
Request to Get the Sample Copy of this Report at:https://www.psmarketresearch.com/market-analysis/extended-reality-xr-market-insights/report-sample
The COVID-19 pandemic has massively pushed up the requirement for XR solutions, on account of the rising rate of digitization in various industries such as healthcare, retail, manufacturing, and education for the training of employees and the increasing number of employees working from home, due to the lockdown. For example, Spaces Inc. launched a new PC VR application called SPACES in March 2020. The app allows users to participate in live video conferencing in virtual reality environment.
The app makes it possible for the user to integrate into the VR environment with the help of virtual markers and whiteboard and a camera that can be easily adjusted according to the user's convenience. The lockdown initiated in several countries for controlling the spread of the virus has caused the shutting down of manufacturing plants and affected the distribution network, owing to which, the sales of XR devices have been very low in the recent times.
Browse report overview with detailed TOC on "Extended Reality (XR) Market Research Report - Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/extended-reality-xr-market-insights
Globally, the extended reality market recorded the highest growth in North America in 2019. This was the result of the widespread adoption of VR and AR solutions, the existence of prominent market players, and the large-scale adoption of several immersive technologies in multiple industries including mining, construction, and oil and gas industries, for training and development purposes. The Asia-Pacific (APAC) extended reality market is predicted to be very prosperous in the upcoming years, because of the growing internet penetration and the rising adoption of XR solutions by several industries in the emerging economies such as Indonesia, China, and India.
The prominent players operating in the extended reality market are focusing on product launches for increasing their presence in the market. For example, HTC Corporation launched VIVE Cosmos series in February 2020, which includes the VIVE Cosmos Elite, VIVE Cosmos, VIVE Cosmos Play, and VIVE Cosmos XR. Among them, the VIVE Cosmos headset is the most versatile.
The research includes detailed analysis of;
Based on Component
Hardware
Software
Services
Based on Device Type
Mobile
Personal Computer (PC)
Headset
Based on User
Single-User
Multi-User
Based on Delivery Model
Consumer Engagement
Business Engagement
Based on Application
Virtual Reality (VR)
Augmented Reality (AR)
Mixed Reality (MR)
Based on Industry
Retail
Education
Industrial & Manufacturing
Healthcare
Media & Entertainment
Gaming
Aerospace & Defense
More Reports by P&S Intelligence
GIS Market
The rising investments by government organizations, increasing utilization of spatial data and cloud technology, growing implementation of enterprise geographic information system (GIS) solutions, and surging demand for GIS-based solutions for location-as-a-service (LaaS) platforms are the prime factors resulting in the positive growth of the market.
https://www.psmarketresearch.com/market-analysis/geographic-information-system-market
Enterprise Asset Management (EAM) Market
Due to COVID-19, the enterprise asset management industry has been severely affected, globally. This is mainly due to the complete or partial lockdown situation in several countries, which has resulted in a temporary closure of business operations, thereby resulting in huge losses for enterprises.
https://www.psmarketresearch.com/market-analysis/enterprise-asset-management-market
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.