The extended reality display global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Extended Reality Display Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The extended reality display market size has grown exponentially in recent years. It will grow from $1.52 billion in 2023 to $2.04 billion in 2024 at a compound annual growth rate (CAGR) of 34.7%. The growth in the historic period can be attributed to research and usability testing, gaming and entertainment, medical and healthcare applications, market research and advertising, human-computer interaction.
The extended reality display market size is expected to see exponential growth in the next few years. It will grow to $6.81 billion in 2028 at a compound annual growth rate (CAGR) of 35.1%. The growth in the forecast period can be attributed to expanded virtual reality (VR) and augmented reality (AR) applications, e-commerce and retail integration, health monitoring wearables, education sector adoption, smart devices and internet of things (iot). Major trends in the forecast period include application in neuromarketing, rise in wearable eye tracking devices, eye tracking in automotive design and driver monitoring, advancements in healthcare applications, remote work collaboration.
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Scope Of Extended Reality Display Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Extended Reality Display Market Overview
Market Drivers –
The rising usage of smartphones is expected to propel the growth of the extended reality display market going forward. Smartphones are advanced mobile phones that combine the functionality of a traditional mobile device with features typically found in computing devices. Extended reality displays are used in smartphones to seamlessly integrate digital information into the real world through augmented reality (AR) and mixed reality (MR). For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, in 2022, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. Further, the UK population is expected to grow to 68.3 million by 2025, of which 95% (or around 65 million individuals) will own a smartphone. Therefore, the rising usage of smartphones is driving the growth of the extended reality display market.
Market Trends –
Major companies operating in the extended reality display market are focused on developing innovative technologies, such as spatial reality displays, to sustain their position in the market. Spatial Reality Displays are advanced display technologies designed to provide users with a more immersive and interactive experience by blending digital content with the physical world in three-dimensional space. For instance, in September 2023, Sony Corporation, a Japan-based conglomerate corporation, unveiled a new Spatial Reality Display. The display provides a 3D experience without the need for glasses or a VR headset. It features a 27-inch 4K resolution screen with a 100% Adobe RGB color gamut.
The extended reality display market covered in this report is segmented –
1) By Display Type: Liquid Crystal Displays (LCD), Organic Light-Emitting Diode (OLED), Other Display Type
2) By Component: Hardware, Software, Services
3) By Solution: Business Engagement, Consumer Engagement
4) By Application: Augmented Reality, Mixed Reality, Virtual Reality
5) By End-User Industry: Gaming and Entertainment, Healthcare, Education, Military and Defense, Automotive and Manufacturing, Retail, Other End-Users
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Regional Insights –
North America was the largest region in the extended reality display market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the extended reality display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the extended reality display market report are Apple Inc., Alphabet, Samsung Electronics Co. Ltd., Microsoft , Meta Platforms Inc., Dell Technologies Inc., Sony Corporation, HP Development Company L.P., Accenture PLC, Qualcomm Technologies Inc., Koninklijke Philips N.V., Vuzix Corporation, Seiko Epson Corporation, Japan Display Inc., PTC Inc., Niantic Inc., Tata Elxsi Limited, Magic Leap, MAGIC LEAP Inc., HTC Corporation, EON Reality Inc., Talespin Reality Labs Inc., Kopin Corporation, Varjo Technologies Oy, Zappar, SphereGen Technologies LLC, Metaio, Softweb Solutions Inc.
Table of Contents
1. Executive Summary
2. Extended Reality Display Market Report Structure
3. Extended Reality Display Market Trends And Strategies
4. Extended Reality Display Market – Macro Economic Scenario
5. Extended Reality Display Market Size And Growth
…..
27. Extended Reality Display Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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