Driven by the Adoption of Extended Reality Display in the Healthcare sector, the Global Extended Reality Display Market Is Forecasted to Reach Nearly US$ 100 Bn By 2028 says Ken Research Study.
Extended Reality (XR) is the combination of Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR). Augmented Reality is a user-based experience that combines the real world with digitally generated content for real-time user interaction. While augmented reality changes the user’s perception of real-world the Virtual Reality provides the artificial digital world to the user with the help of different wearables devices such as VR Headsets, haptic gloves, and more. Mixed reality is the further combination of both VR and AR that use physical and virtual devices to interact with mixed reality environments.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
1. The Extended Reality Display Market Is Witnessing Steady Growth Owing to the Adoption of Extended Reality in the Healthcare Sector.
The Extended Reality Display market is witnessing steady growth owing to the adoption of extended reality display in the healthcare sector as it allows surgeons to detect every aspect of the human body and helps them see the complexity and problems during surgeries. Furthermore, extended reality (XR) technology helps medical practitioners to memorize information regarding human body parts such as the brain and heart with the help of a 3-dimensional model. The VR technology can help patients to overcome phobias and problems brought on by stress. It can provide a patient with chemotherapy treatment with the much-needed mental distraction such patient will be more comfortable thus leading in recovery rate.
According to Ken Research estimates, the Global Extended Reality Display Market – valued at around ~US$ 8 billion in 2017 and estimated to reach nearly ~US$ 25 billion by 2022 – it is further expected to reach a market size of ~US$ 100 billion opportunities by 2028.
2. The Development of 5G technology is providing notable opportunities for the Global Extended Reality Display Market.
Extended reality (XR) technology is widely used in the personal and professional work environment whether it is for the entrainment of the public or providing training and remote assistance to employees. The introduction of 5G technology is anticipated to solve many issues such as slow internet, unstable connection and more by enabling the efficient distribution of processing power as a stable and fast internet connection is recommended for fully experiencing the XR Technology. Several nations, including South Korea, China, and the US, have already launched 5G services in a few of their chosen cities. Globally significant investments are being made to implement 5G in every part of the world.
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- In September 2022, the Indian Government announced that have invested nearly US$ 30 billion for ensuring 4G and 5G network accessibility in every village around the country under which the Indian government has been able to establish 80,000 new connections per month.
The below graphs depict the 5G Download Speed of the Top 5 Nations (in Mbps).
3. The Multiple Health Issues Due to Extreme Usage of Extended Reality Devices Are a Major Challenge Faced by The Global Extended Reality Display Market.
Although extended reality (XR) devices are highly popular for gaming, media, and entertainment purposes, there are multiple health risks related to excessive usage of these devices. The most frequent risk is users getting hurt when they accidentally run into actual items while immersed in the virtual environment. After utilizing extended reality gadgets, many users have reported that they experiencing several issues like headaches, eyestrain, dizziness, and nausea.
Such symptoms are most seen due to VR illusion, which causes the eyes to concentrate on items that are actually merely inches away on a screen yet look to be in the distance. Furthermore, excessive use of XR devices can cause myopia in the future, which is an eyesight problem in which near objects may appear clearly but farther objects appear blurred.
The below graphs depict the addiction tendency for VR gaming in males and females as found by a study done by HTC.
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Key Topics Covered in the Report
- Snapshot of the Global Extended Reality Display Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Extended Reality Display Market
- Historic Growth of the Overall Global Extended Reality Display Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Extended Reality Display Industry
- Overview, Solution Offerings, and Strengths & Weaknesses
- COVID-19 Impact on the Overall Global Extended Reality Display Market
- Future Market Forecast and Growth Rates of the Total Global Extended Reality Display Market and by Segments
- Market Size of End-user Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Extended Reality Display Market
- Major Production/Supply and Consumption/Demand Hubs within Each Major Country
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
Notable Key Players Mentioned in the Report
- Qualcomm Technologies Inc.
- Magic Leap
- Meta
- HP Development Company, L.P
- SoftServe Inc.
- Sony Interactive Entertainment LLC
- Accenture
- Apple Inc.
- Northern Digital Inc.
Notable Emerging Companies Mentioned in the Report
- QuaQua
- CXR
- TreeView
- Lucid Reality Labs
- ME
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Extended Reality Display Manufacturers
- Government Ministries of Health and Family Welfare
- Extended Reality Display Industry Association
- Extended Reality Display Companies
- Financial Institutions Targeting Extended Reality Display Industry
- Government Ministries and Departments of Information Technology
- Investors and financial community professionals
- PE and VC Firms focused on Information Technology Sector
Time Period Captured in the Report
- Historical Period: 2017-202
- Forecast Period: 2022E-2028F
For more information on the research report, refer to the below link:
Global Extended Reality Display Market
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