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Showing posts with the label XR Market Applications

Coronavirus Business Impact – XR Market In-depth Analysis of the Industry with Future Estimations

The increasing adoption of 5G services will drive the extended reality market at a 48.3% CAGR during the forecast period (2020–2030). The market size is expected to rise from $18.6 billion in 2019 to $1,005.9 billion by 2030. XR solutions require high bandwidth, low latency, and high reliability, which can be provided by 5G services at an affordable price. Additionally, the growing usage of head-mounted displays (HMDs) for knowledge and education purposes and among enterprises for offering more engaging and interactive customer experience will boost the demand for XR solutions , globally. In recent years, several market players have entered into partnerships and collaborations to expand the user base of XR technology in the retail, education, and hospitality industries. For instance, in January 2020, Accenture Plc and Qualcomm Incorporated began collaborating with InterContinental Hotels Group to pilot-run a solution that utilizes AR and virtual reality (VR) technologies to improve the...