Global Extended Reality Display Market: Introduction
- Extended Reality (XR) is a combination of Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR), and is also defined as interaction between a human and machine, transmitted by computer technology and wearables.
- Extended Reality (XR) requires an innovative revolution in display technology to show brilliant virtual content, and to transit between real and virtual worlds.
- The extended reality display market is segmented based on type (head-mounted display [optical], head-up display, virtual retinal display, and virtual reality headset), solution (consumer engagement, business engagement), application (Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR)), end-use industry (education, retail, industrial & manufacturing, healthcare, media & entertainment, and others), and region.
Global Extended Reality Display Market – Drivers & Restraints
- Healthcare is expected to be the fastest growing segment of the global Extended Reality (XR) display market during the forecast period in terms of application.
- Meanwhile, medical practice with real patients in hospitals has reduced, and demand for simulation in the medical field has emerged. Realistic and simulation-based surgeries/operations are also a major driver expected to boost the growth of Extended Reality (XR) display technology during the forecast period.
- Moreover, the adoption of smartphones and gaming has increased drastically. Extended Reality (XR) displays are extensively used in the education, and entertainment and media segments.
- Other major drivers of the Extended Reality (XR) display market are :-
- Growing demand for spatial computing applications
- Lowering of Extended Reality (XR) prices
- Minimized risks of Extended Reality (XR) platforms
- Entertainment industry is a major segment of the Extended Reality (XR) display market, due to increasing number of gamers and also because of the increase in downloading of new apps /gaming applications.
- The lack of usage in underdeveloped economies is the major restraint of the global Extended Reality (XR) display market.
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North America to lead the Global Extended Reality (XR) Display Market
- In terms of region, the global Extended Reality (XR) display market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is expected to witness the fastest growth in the Extended Reality (XR) display market during the forecast period due to the major contribution of manufacturers who operate in the U.S, Canada, and Mexico, providing displays.
- Moreover, the entertainment industry has the highest growth rate in the past few years in North America and the rising number of gaming users and app downloads are driving the Extended Reality display market in the region.
- The Extended Reality (XR) display market in Europe is expected to expand at a substantial rate during the forecast period as the region is well known for adoption of Extended Reality (XR) technologies in both enterprise and consumer applications. Also, Europe has the second highest revenue generation in the global Extended Reality (XR) display market.
- On the other hand, the market in Middle East & Africa and South America is estimated to expand at a moderate pace during the forecast period.
Key Players Operating in the Global Extended Reality Display Market
The global Extended Reality display market is a competitive and growing market, and consists of few market players. Major players operating in the global market are focusing on technological advancements and expanding their services to meet the business requirements.
Key players operating in the global Extended Reality display market include:
- Qualcomm Technologies Inc.
- Accenture PLC
- Northern Digital Inc.
- SoftServe Inc.
- SphereGen Technologies
- Sony
- HP
- Samsung
- Apple
- Facebook Inc.
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Global Extended Reality Display Market: Research Scope
Global Extended Reality Display Market, by Type
- Head-mounted Display (Optical)
- Head-up Display
- Virtual Retinal Display
- Virtual Reality Headset
Global Extended Reality Display Market, by Solution
- Consumer Engagement
- Business Engagement
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