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Extended Reality (XR) Market size is set to grow by USD 1.04 trillion from 2024-2028, Rapid improvements in sensor technology boost the market, Technavio

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NEW YORK, June 17, 2024 /PRNewswire/ — The global extended reality (XR) market size is estimated to grow by USD 1.04 trillion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 56.45%  during the forecast period. Rapid improvements in sensor technology is driving market growth, with a trend towards advent of 5G. However, infrastructural and integration issues  poses a challenge. Key market players include 3D Systems Corp., ABB Ltd., Accenture Plc, Alphabet Inc., Canon Inc., HTC Corp., Intel Corp., Lenovo Group Ltd., Magic Leap Inc., Meta Platforms Inc., Microsoft Corp., NVIDIA Corp., PTC Inc., Qualcomm Inc., Roper Technologies Inc., Seiko Epson Corp., SoftServe Inc., Sony Group Corp., Tata Sons Pvt. Ltd., and VertexPlus Technologies Ltd..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Extended Reality (XR) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 56.45%

Market growth 2024-2028

USD 1040.6 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

44.25

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 40%

Key countries

US, China, Germany, UK, and Japan

Key companies profiled

3D Systems Corp., ABB Ltd., Accenture Plc, Alphabet Inc., Canon Inc., HTC Corp., Intel Corp., Lenovo Group Ltd., Magic Leap Inc., Meta Platforms Inc., Microsoft Corp., NVIDIA Corp., PTC Inc., Qualcomm Inc., Roper Technologies Inc., Seiko Epson Corp., SoftServe Inc., Sony Group Corp., Tata Sons Pvt. Ltd., and VertexPlus Technologies Ltd.

Market Driver

The extended reality (XR) market is set to experience significant growth with the rollout of 5G technology. This next-generation wireless technology offers high bandwidth and low latency, enabling real-time, immersive XR experiences. 5G enables the use of AR in live, outdoor environments and facilitates cloud-based gaming. Vendors like Qualcomm and Samsung are partnering with telecom providers to offer affordable 5G subscriptions. By 2025, global 5G deployment is expected, unlocking new XR applications in remote collaboration, training, and education. 

The Extended Reality (XR) market is experiencing significant growth with technologies such as Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) gaining traction. According to recent studies, the global XR market is projected to reach new heights, with VR devices and simulations becoming increasingly popular in industries like gaming, healthcare, and training.

The use of XR in education and simulation training is also on the rise, providing new opportunities for businesses. Furthermore, the integration of AR in consumer applications, such as shopping and entertainment, is driving market growth. The future of XR looks promising, with advancements in technology and increasing adoption across various sectors. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The extended reality (XR) market faces challenges due to unequal geographic penetration. Many countries lack advanced internet infrastructure, hindering XR adoption. This issue is more pronounced in the enterprise segment, where strong internet connectivity is essential. Potential customers are waiting for improved user experience through better hardware, content, and infrastructure. The lack of high-speed Internet in several regions may hinder market growth during the forecast period.The Extended Reality (XR) market is experiencing significant growth, with technologies such as Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) gaining traction. However, the industry faces several challenges. One major challenge is the high cost of XR hardware and software, limiting its accessibility to businesses and consumers. Another challenge is the lack of standardized XR content and platforms, making it difficult for developers to create and distribute content.Additionally, concerns around privacy and security in XR applications need to be addressed. Furthermore, the integration of XR technology into existing business processes and workflows requires careful planning and investment. Lastly, the need for skilled professionals in XR development and implementation is increasing, posing a challenge for organizations in terms of talent acquisition and retention.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

Application 1.1 VR1.2 AR1.3 MRComponent 2.1 Hardware2.2 Software and servicesGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 VR-  XR Market, which includes Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR), is experiencing significant growth. Businesses are adopting XR technologies to enhance customer experiences, improve training programs, and increase productivity. VR provides immersive environments, while AR overlays digital information onto the real world. MR combines elements of both. XR is revolutionizing industries such as healthcare, education, and manufacturing. Companies are investing in XR to gain a competitive edge. The market is expected to continue expanding due to advancements in technology and increasing demand.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Extended Reality (XR) market encompasses Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) technologies. This sector is experiencing significant growth due to the increasing demand for immersive experiences in various industries. In the healthcare sector, XR technology is revolutionizing contemporary healthcare institutions by enabling doctors and surgeons to visualize target organs in 3D, enhancing precision and effectiveness.

In the education sector, XR technology is transforming industrial training through simulations and games, providing students with interactive and engaging learning experiences. The entertainment industry, including online gaming, is also leveraging 5G technology and XR devices to deliver high-definition XR content. The gaming industry is witnessing a surge in the adoption of XR technology, offering players a more immersive and interactive gaming experience. Overall, the XR market is poised for exponential growth, with applications spanning across multiple industries and use cases.

Market Research Overview

The Extended Reality (XR) market encompasses immersive technologies, including Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR). XR technologies offer transformative experiences by merging digital information with the physical world. The global XR market is experiencing significant growth due to increasing demand for immersive experiences in various sectors such as education, healthcare, entertainment, and manufacturing.

The use of XR in training and simulation, product design, and remote collaboration is driving market expansion. Furthermore, advancements in technology, such as haptic feedback and eye-tracking, are enhancing user experience and increasing market potential. The market is expected to continue its upward trajectory, offering numerous opportunities for businesses and innovators alike.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationVRARMRComponentHardwareSoftware And ServicesGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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DermRays Black Friday Event Offers Year’s Biggest Savings and Industry Recognition

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PLEASANTON, Calif., Nov. 16, 2024 /PRNewswire/ — This Black Friday, DermRays is excited to announce its most significant sale of the year, offering $130 off sitewide from November 16-30th, 2024. With this limited-time discount, customers can experience the brand’s advanced home laser hair removal technology at unbeatable prices. Don’t miss out on this exclusive opportunity to invest in smoother, hair-free skin for less.

In recognition of our commitment to quality and innovation, DermRays V6S model was recently ranked second among the top ten at-home laser hair removal devices globally by Harper’s Bazaar. In their article, “The 10 Best At-Home Laser Hair Removal Devices, According to the Pros“, DermRays stood out as a trusted leader, celebrated for delivering professional-grade results in a convenient, at-home device. For more details, you can explore the full article from Harper’s Bazaar.

It’s essential to clarify the long-term goals of laser hair removal. Technically, it is a process of “laser hair reduction” rather than complete “removal,” as some hair regrowth is normal over time. Even with consistent treatments, new hair from dormant follicles may appear after one to three years. At-home laser devices offer a manageable, convenient skincare routine, giving lasting, visible results in a way that’s easier, faster, and more affordable than traditional methods like waxing or shaving. DermRays aims to set realistic expectations and empower customers with effective, salon-quality solutions at home.

Join us this Black Friday to experience DermRays’ transformative technology at our lowest prices ever, and enjoy smoother, more radiant skin.

Media Contact:
Facebook: @dermraysofficial
Instagram: @dermrays_global
YouTube: @DermRays
TikTok: @dermrays.official
Email: support@dermrays.com 

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Margex Announces a Charting Partnership With TradingView

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Margex integrates TradingView to simplify market analysis for users

VICTORIA, Seychelles, Nov. 16, 2024 /PRNewswire/ — Margex, a cryptocurrency trading platform boasting ultra-convenient and user-friendly copy trading, is excited to announce a charting partnership with TradingView to elevate user experience.

Margex is excited to integrate TradingView charts into its platform, enabling traders to benefit from the best-in-class visual analysis tools.

This partnership aims to provide Margex users with seamless access to TradingView’s advanced charting tools, enhancing the best trading experience and empowering well-informed decisions in the market.

Margex users can enjoy a TradingView-like trading experience through this product partnership, which includes 100+ technical indicators, 110+ drawing tools, and 17+ chart types without leaving the Margex platform.

This collaboration further solidifies Margex’s commitment to ensuring its users of all kinds have access to a secure, user-friendly trading experience.

Margex Adds DOGE as Withdrawal and Deposit Option
Marge has also included Dogecoin (DOGE) as an instant withdrawal and deposit option in addition to other existing options, such as KAS and TON to enable users to carry out transactions seamlessly.

About Margex

Margex is a boutique cryptocurrency exchange established in 2019, providing users access to a safe, powerful, and convenient copy trading platform. Margex copy trading makes trading simple yet effective for traders of any experience level. Users of all types can earn a return on their equity by replicating the trades of professional traders with no experience required, while skilled traders can earn income by allowing other users to copy successful strategies.

With a minimum deposit of $10, traders can access all of Margex’s copy trading functionality, as it remains the most user-friendly platform in the crypto industry.

Follow Margex on Facebook, Twitter, Telegram, Discord, and YouTube, or join the Margex team.

About TradingView

TradingView is an acclaimed charting and trading platform used by a vibrant community of over 80 million traders worldwide who gather to chat, chart, and trade the international markets.

The platform ambitiously yet consistently empowers its users with best-in-class charting tools, live market data, a comprehensive market analysis suite, and a proprietary programming language.

Beyond premier user experience, TradingView provides solutions for businesses, including advertising, news partnerships, market widgets, charting libraries, and trading integrations with selected partners.

This press release was issued through 24-7PressRelease.com. For further information, visit http://www.24-7pressrelease.com

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Launch of Al Faisal Al Baladi Holding

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A strategic partnership between two of the largest Qatari companies to add value to the local and regional market, enhancing food security and innovation in several key sectors.

DOHA, Qatar, Nov. 16, 2024 /PRNewswire/ — Senyar Trading & Distribution Company and Al Baladi Holding have announced the launch of their strategic partnership under the name of ‘Al Faisal Al Baladi Holding’. The launch ceremony was attended by Sheikh Faisal bin Qassim Al Thani, Chairman of Al Faisal Holding, and Mr. Mohammed Abdullah Al Attiyah, Chairman of Al Baladi Holding. This partnership aims to provide added value to the Qatari and regional markets, and to enhance the role of Qatari companies in supporting and developing the local economy in line with Qatar National Vision 2030.

 

 

Within this partnership, a strong economic icon was established under the name ‘Al Faisal Al Baladi Holding Group’, capable of implementing huge projects across the MENA region in a number of different vital sectors, especially livestock and agricultural production projects, which contributes to supporting food security and enhancing livestock in a sustainable manner. In addition, the retail sector constitutes a significant part of the Company’s activities.

Al Faisal Al Baladi Holding Group Holding includes Al Faisal Al Baladi Holding LLC, based in Qatar, Al Faisal Al Baladi Group for Malls Management and Operations, based in Egypt, and Al Faisal Al Baladi Holding, based in the Sultanate of Oman. As well as livestock and agricultural production, these companies will operate in several diverse sectors including distribution and wholesale, manufacturing, hospitality and hotels, restaurants, food and beverages, with the retail sector also constituting a significant area of focus. Through these activities, they will seek to meet the growing demand for innovative products and solutions, while supporting sustainable economic development in Qatar and the region.

Commenting on this announcement, Sheikh Faisal Bin Qassim Al Thani, Chairman of Al Faisal Holding, stated: “I am pleased to witness the formation of this strategic partnership that represents the development of the private sector in Qatar and enhances its ability to compete through cooperations built on solid foundations. This partnership is a realization of Qatar Vision 2030 of empowering the private sector and enhancing its contribution to the local economy. I wish both parties success in this promising partnership.”

Mr Mohammed Abdullah Al Attiyah, Chairman of Al Baladi Holding and Chairman of Al Faisal Al Baladi, said: “We are delighted with this cooperation which opens new horizons for growth and expansion. Al Baladi Holding has achieved remarkable successes in recent years, and this partnership comes to underpin our position in the market and expand the scope of our activities. We hope that Al Faisal Al Baladi Holding will contribute to the development of successful and innovative projects that will be a source of pride for everyone.”

Sheikh Mohammed bin Faisal Al Thani, Vice Chairman of Al Faisal Al Baladi Holding, added: “We share common goals, integrated resources, and expertise with Al Baladi Holding. Through this partnership, we will achieve integration and synergy in diverse businesses to maximize value for all parties, including consumers and investors, which will benefit all stakeholders and contribute to achieving a positive impact across every level.”

Mr. Abdullah Mohammed Al Attiyah, Vice Chairman of Al Baladi Holding, said: “Undoubtedly, the stability of the Qatari economy, the diversity of investment opportunities, and the positive business environment, have all contributed to Al Baladi Holding’s market leading position. We look forward to this partnership with confidence in its promise to help build a bright future”

Mr. Tarek Mahmoud Al Sayed, Board Member of Al Faisal Al Baladi Holding, added: “Food security projects hold special importance, especially in their comprehensive and sustainable concept, which constitute an essential part of our future strategy. We seek to play a pivotal role in the region through livestock and agricultural production projects, as we currently own a number of livestock and agricultural production companies in Qatar and Oman, and we plan to expand and launch new projects in a number of countries in the region and North Africa. This will support Al Faisal Al Baladi in becoming a leading company in achieving food security at the regional level.”

Mr Hany Al Sayyadi, CEO and Board Member of Al Faisal Al Baladi Holding, concluded by saying: “This partnership strengthens our diversified investment portfolio and facilitates the expansions of our presence in regional and global markets. Our vision is to achieve a strong presence in the Middle East region, by focusing on innovation and quality in all our sectors. This partnership is a natural extension of the vision of both companies to enhance economic integration and contribute to driving development in Qatar and the region.”

Al Faisal Al Baladi plans to expand its business activities in regional and global markets, by utilizing the diverse investment opportunities represented by the manufacturing, hospitality and retail sectors. The Group’s current portfolio includes more than 30 leading companies in their fields, including Al Baladi and Al Baladi Express Markets, Al Wajba Dairy and Juice Factory, City Limousine Company, in addition to a number of restaurants and companies in the food sector, and many others.

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