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 Q4 2023, and provides a strategic framework for any enterprise operating within the XR hardware market or any adjacent sectors.
Following a breakout year in 2021, and a market quietening in 2022, the XR market grew by 16% in 2023. Total shipments increased from 17 million units to nearly 20 million, with the segment returning to its growth trend in all form factors except for PC Virtual Reality.
All-in-One (AIO) continues to lead the way and is expected to exceed 15 million shipments globally in 2027, with the USA leading the way.
In terms of applications, gaming maintains a significant market share, with entertainment growing steadily in second position. Throughout the forecast period, Futuresource expects gaming’s market share to decline and industrial use cases to rise. As XR moves mainstream the segment’s potential to enhance productivity and reduce costs will be a key driver across a wide range of industries. In the near-term, medicine will be the one to watch, due to a combination of XR’s ability to reduce human error as well as financial costs.
Across the forecast period, out to 2027, Futuresource expects the segment to continue to grow, with total shipments reaching 93.4 million units by 2027.
ӏ Executive Summary
ӏ XR Market Outlook
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
| CE market strategists, marketing and sales professionals
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