XR Headset Market
XR Headset Market
The substantial growth of the XR headset market can be primarily attributed to its growing use in the media and entertainment sector.
PORTLAND, PORTLAND, OR, UNITED STATES, February 13, 2024 /EINPresswire.com/ -- According to the report, the global XR headset industry generated $38.1 million in 2021, and is anticipated to generate $401.4 million by 2031, witnessing a CAGR of 28.3% from 2022 to 2031.The XR headset industry has undergone significant evolution in recent years, showcasing its immense promise across various sectors such as media & entertainment, healthcare, education, and beyond. With ongoing technological advancements and increasing interest from users, there's a continuous exploration of innovative methods to enhance immersive experiences in VR.
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The remarkable expansion of the XR headset market can largely be credited to its burgeoning application in the media and entertainment realm. XR headsets have sparked a transformative wave within this industry, particularly in gaming, where they've introduced interactive experiences in real-world environments. Moreover, their impact extends across diverse sectors including e-commerce, marketing, automotive, healthcare, education, aviation, defense, retail, and more within the technological landscape.
The XR headset market refers to the sector dedicated to extended reality (XR) devices, encompassing virtual reality (VR), augmented reality (AR), and mixed reality (MR) headsets. These headsets provide users with immersive experiences by overlaying digital content onto the real world (AR), creating entirely virtual environments (VR), or blending digital and physical elements (MR). The XR headset market includes various types of devices, ranging from standalone headsets to tethered ones that require connections to external hardware such as computers or gaming consoles. This market is driven by advancements in technology, growing applications across industries like gaming, entertainment, healthcare, education, and enterprise, as well as increasing consumer demand for immersive experiences.
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The growing use of XR headset in the media and entertainment sector drive the growth of the global XR headset market. However, the e shortage of skilled technical personnel having good XR technology knowledge along with a lack of awareness about the technology in developing countries is predicted to hamper the market growth. Moreover, the industry players are investing a lot of effort on the R&D of smart and unique strategies to sustain their growth in the market, thereby presenting new opportunities in the coming years.
Based on solution, the consumer engagement segment held the highest market share in 2021, accounting for more than half of the global XR headset market, and is estimated to maintain its leadership status throughout the forecast period. XR headsets increase customer engagement by stimulating their senses as they interact with the goods that are for sale. However, the business engagement segment is projected to manifest the highest CAGR of 29.0% from 2022 to 2031. Interaction between employers, vocational rehabilitation (VR), and other workforce development and education organizations that results in measurable improvements in desired outcomes for both parties is referred to as business engagement. Additionally Better insight through data visualization. It's improved internal communication and collaboration. Because all of this extended reality had become more common in the business world.
Based on end user, the media and entertainment segment held the highest market share in 2021, accounting for nearly one-thirds of the global XR headset market, and is estimated to maintain its leadership status throughout the forecast period. Due to individuals being forced to stay at home and engage in activities that promote social isolation, the use of XR headsets in the media and entertainment sector has significantly expanded, since 2020. However, the healthcare segment is projected to manifest the highest CAGR of 29.9% from 2022 to 2031.
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Based on region, North America held the highest market share in terms of revenue in 2021, accounting for nearly one-thirds of the global XR headset market. However, the Asia-Pacific region is expected to witness the fastest CAGR of 29.9% from 2022 to 2031, and is likely to dominate the market during the forecast period. The region's media and entertainment sector's increasing use of VR and AR technologies is largely to contribute for this huge rise. Additionally, improvements in 5G infrastructure in China and India are anticipated to boost XR headset sales in this region over the course of the projection period.
Leading Market Players: -
• Qualcomm Technologies Inc.,
• 4DR studios,
• 4experience,
• Microsoft Corporation,
• Aircards,
• ARuVR,
• Arvizio, Inc,
• Cavrnus, Inc.
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