Extended reality or XR is a term for all immersive technologies for instance virtual reality (VR), augmented reality (AR), and mixed reality (MR) that extend the reality experience by either blending virtual & physical worlds or by creating a totally immersive experience. Moreover, rise in trend of adoption of smart devices is one of the key factors that drive the demand for extended reality. Furthermore, virtual reality and augmented reality technologies are demonstrating to be very beneficial for retailers and media & entertainment industries including motion picture, and promotional campaigns. Additionally, the users can virtually try shoes makeup, clothes, and other wearables, which are likely to fuel demand for extended reality throughout the forecast period.
As per analysis, North America Extended Reality (XR) Market by Technology, Component, Device Type, Industry Vertical, End-user, and Country 2020-2026: Demand and Production Outlook the key companies operating in the North-America extended reality market include Blippar.com Limited, Acer Inc., Catchoom, Aurasma, Augmedix, Dell Technologies Inc., Facebook, DAQR, EON. Reality Inc., HP Development Company LP, Koninklijke Philips N.V., Google, MAGIC LEAP, INC., HTC Corporation, Medical Realities, Niantic, Inc., Metaio, Nintendo Co., Ltd., Microsoft, Samsung, Psious, Vuzix Corporation, Sony, Wikitude GMBH, Zappar, Total Immersion and among others.
Based on technology, North-America extended reality market is segmented as marker based augmented reality (active market and passive marker), marker-less augmented reality (image based processing and model based tracking), non-immersive technology, virtual reality, augmented reality, mixed reality and semi-immersive & fully immersive technology. On the basis of component, market is categorized as software, hardware and services. Software includes software developer kits. Hardware includes position trackers, displays & projectors, sensors, cameras, semiconductor components, and others. Based on devices type, market is segmented as virtual reality devices, augmented reality devices and mixed-reality devices. Virtual reality devices include gesture-tracking devices, Head-Mounted Display (HMD) and projector & display wall. Augmented reality devices include Head-Up Display (HUD), HMD and handheld devices. Additionally, mixed reality devices include wired HMD and wireless HMD. Based on industry vertical, market can be segmented as healthcare, retail, manufacturing, education, aerospace & defense and others. In addition, based on end-user, market can be segmented as enterprises and consumer.
The North-America extended reality market is driven by growth in adoption of extended reality in healthcare sector, followed by rise in demand for extended reality devices & technology in automotive industry, surge in deployment of extended reality in education sector & industrial training and rise in demand from entertainment & gaming industry. However, excessive use of XR devices causes health issues and high installation & maintenance costs of extended reality devices may impact the market. Moreover, growth of travel & tourism industry, continuous developments in 5G technologies and growth in requirement of incorporation of XR technology in aerospace & defense sector are leading opportunities for market. Furthermore, low adoption rates of XR technology by enterprises & consumers is a major challenge for global market.
It is projected that future of the North-America extended reality market will be bright on account of increase in investments by tech giants and enhancement in AR and VR during the forecast period.
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North America Extended Reality Market Research Report
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