Skip to main content

Extended Reality Market To Generate $1,005.9 Billion Revenue by 2030

A number of factors, such as the surging penetration of smartphones and connected devices, increasing adoption of augmented reality (AR)/virtual reality (VR) and 5G solutions, and rising number of partnerships and collaborations among players, are expected to drive the growth of the extended reality (XR) market at a CAGR of 48.3% during the forecast period (2020–2030). 

According to P&S Intelligence, the market size is projected to reach $1,005.9 billion by 2030 from $18.6 billion in 2019. In regard to the market, the launch of 5G networks has become a key trend. The surging penetration of connected devices and smartphones across the world is the main factor boosting the demand for XR solutions. 


Extended Reality Market its Future Outlook and Trends

The penetration of smartphones has grown rapidly in advanced economies, and it is also rising significantly in emerging nations. According to the Global System for Mobile Communication Association (GSMA), there were 5.2 billion mobile subscribers as of December 2019, and the number is expected to reach 5.8 billion by 2025. Smartphones are the most-popular hardware interface for XR applications, which is why this is a key driving factor. 

The rising demand for AR/VR solutions is another strong extended reality market driver, as the concept of XR includes these two technologies. AR adds something to the reality of the perceiver, while VR completely changes it. This gives XR users an immersive experience as they are able to see and experience new things and their existing reality in a new, fun, and exciting way. As a result, the user base of AR/VR games, most popularly Pokemon Go, is growing rapidly around the world.

This market research report provides a comprehensive overview of the market
  • The Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
Labels:

Comments

Post a Comment

Popular posts from this blog

AI in Agriculture Market Share, Size, Future Demand, Top Leading Player, and Emerging Trends

The booming population is putting immense pressure on the agrarian community to produce more of all kinds of crops, dairy products, and meats than ever before. In addition, the growing cities, which are eating up agricultural land, are making this task increasingly difficult. This is why the focus at the individual farmer and government levels has started shifting toward modern ways of practicing agriculture. Like most industries, agriculture is now embracing digitization and, with it, its various components, such as drones, robots, and sensors. To make all these systems more effective and the cultivation and animal husbandry processes more fruitful, artificial intelligence (AI) is being leveraged. As per P&S Intelligence, this will be the key reason behind the growth of the AI in agriculture market from $852.2 million in 2019 to $8,379.5 million by 2030, at a 24.8% CAGR between 2020 and 2030. The purpose of using AI in agriculture is to offer real-time updates on sowing and reapi...
Post a Comment
Read more

How Is Military and Defense Sector Boosting Underwater Robotics Market Growth?

Categories under the type segment of the underwater robotics market include autonomous underwater vehicle (AUV) and remotely operated vehicle (ROV). Of these, the ROV category is expected to exhibit the faster growth during the forecast period, due to the burgeoning demand for ROVs in the deep-sea oil drilling industry. Further, the AUV category will also register considerable growth in the forecast years, primarily on account of the surging deployment of such robots for detecting submerged wrecks and obstructions in the defense sector. The application segment of the underwater robotics market is classified into scientific research, defense and security, and commercial exploration. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/underwater-robotics-market/report-sample Among these, the defense and security category holds a substantial market share, due to the surging deployment of AUVs in the defense and security sector. For example, in 2019, Gener...
Post a Comment
Read more

Wi-Fi Analytics Market To Generate $52,975.5 Million Revenue by 2030

The Wi-Fi analytics market is expected to exhibit a CAGR of 24.2% during the forecast period (2020–2030), due to the increasing penetration of smartphones, escalating Wi-Fi deployment rate, and the rising proliferation of big data technology worldwide. The market generated a revenue of $5,210.0 million in 2019 and it is projected to generate $52,975.5 million revenue by 2030. Wi-Fi analytics refers to the use of a Wi-Fi network to collect data from internet-enabled devices, such as smartphones and laptops. One of the major growth drivers for the market is the increasing deployment of public Wi-Fi hotspots, primarily on account of the burgeoning use of wearable devices, smartphones, tablets, and other internet-enabled devices. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/wifi-analytics-market-report/report-sample Public Wi-Fi networks have emerged as one of the most viable solutions for meeting the burgeoning demand for high bandwidth. Furthermor...
Post a Comment
Read more