Augmented reality (AR), virtual reality (VR), and mixed reality (MR) refer to the spectrum of experience and technologies that connect the real and virtual worlds. These technologies immerse users or augment the real world through audio, visual, and haptic cues. This research report analyzes the global AR, VR, and MR markets as subsegments of the broader extended reality (XR) concept.

XR is at the heart of the futuristic digital transformation, which aims to offer immersive and assisted experiences through a 3D virtual environment inlaid within or on top of real-world experience. To enable XR, electronics segments (e.g., computing, display, sensors, and controls) are driving the advancement of various XR products, including headsets, head-mounted displays, and holographic displays. The report primarily analyzes the impact of XR technology innovations on these electronics segments.

The growing adoption of AR/VR in the enterprise sector, 5G and high-speed communication penetration, and increasing processing speeds propel the XR market. As the enterprise sector seeks to improve worker efficiency and safety, especially those of frontline workers, affordable and viable solutions are required. The proliferation of 5G will significantly boost the usage experience of XR devices, creating more demand.

Most XR device manufacturers struggle to improve processing speed while reducing power consumption. To overcome this, chip manufacturers are developing application-specific chips with efficient chip architectures specifically for XR applications. Major corporations are adopting partnership and acquisition strategies to leverage these technological advancements.

The emergence of advanced technologies like deep learning, neural networks, computer vision, generative artificial intelligence, and neuromorphic computing has created new opportunities for XR applications. Amid challenges in boosting worker productivity and improving accuracy, businesses are planning to implement new methods to apply XR technology to overcome them. However, swift formulation of regulations and large-scale content creation will be necessary to create opportunities for different industries.

The research study covers the following modules:
•     Drivers and challenges
•     Technology impact analysis
•     Stakeholder ecosystem
•     Strategic initiatives and developments
•     Geopolitical assessment
•     Technology roadmap