Author: Nikolaos Tzoumerkas
Date Published:
The extended reality (XR) market continues to expand, presenting a wide range of benefits and opportunities across gaming and entertainment, education, retail, corporates, medicine and more. Despite the economic downturn, leading to consumer anxiety and heightened inflation, the XR market shows no signs of contraction over the forecast period.
In this global extended reality (XR) market report, Futuresource Consulting explores market growth, key hardware trends and the market outlook for virtual reality (VR), mixed reality (MR) and augmented reality (AR).
Research for this report was carried out in Q2 2024, and provides a strategic framework for any enterprise operating within the XR hardware market or any adjacent sectors.
In 2023, XR grew by 5.3% in terms of unit shipments, reaching a total of 17.9m shipments across all the XR categories. By 2028, Futuresource expects XR to ship 60.2m units, with 71% coming from the AIO category. This is despite only a limited amount of content being available, which is acting to deter the average consumer from investing in VR hardware.
As many big tech players launch new products, the XR market continues to show promise. Meta Quest 3 was a significant upgrade to its predecessors and has shown the potential of an AIO headset at a low price point. The release of Apple Vision Pro and the collaboration between Samsung and Google will raise awareness around XR which will be translated to shipments in the upcoming years, potentially even beyond the forecast period.
While gaming maintains a dominant 75% share in terms of applications, Entertainment is growing steadily as the second biggest use case. Various other applications, including B2B, also amount to a combined 10% of the total market.
ӏ Executive Summary
ӏ XR Market Outlook
ӏ PCVR
ӏ All-in-One
ӏ PSVR
ӏ AR Glasses
ӏ XR Use Cases
| XR market size analysis, quantifying and tracking worldwide sales of VR head mounted displays
| Market forecasting, with five-year sales forecasts, reviewing key XR product types
| Product, technology and competitive reviews, interpreting key market developments and trends
Futuresource has been tracking, researching and consulting on the CE landscape for more than 30 years. This publication is one in a series of research reports, produced to provide businesses with a fully rounded view of the market.
Any business with interests in the XR market will benefit from this report, particularly:
| Manufacturers and their suppliers
| Intermediaries and supply chain
| Retailers
| CE market strategists, marketing and sales professionals
| Investors
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