With the rising penetration of the internet and the surging use of connected devices and smartphones, the demand for extended reality (XR) solutions is skyrocketing across the world. According to the World Bank, around 57.0% of the global population had access to the internet in 2019. The usage of AR and VR applications is rising rapidly on these devices, which is, in turn, driving the expansion of the global extended reality market.

Moreover, many enterprises are increasingly adopting AR and VR technologies in order to provide a highly engaging and better customer experience and create a more interactive experience. For instance, many businesses are rapidly adopting head-mounted displays (HMDs) for knowledge and education purposes for providing an enhanced learning experience.

Owing to these factors, the demand for extended reality solutions is surging, which is predicted to fuel the extended reality market at a CAGR of 48.3% from 2020 to 2030. Furthermore, the revenue of the market will grow from $18.6 billion in 2019 to $1,005.9 billion by 2030, as per the estimates of the market research company, P&S Intelligence.

To cater to the escalating demand for extended reality solutions, many leading extended reality solution providers across the world are announcing collaborations and partnerships. For example, Qualcomm Incorporated and Accenture plc announced a collaboration with InterContinental Hotels Group in January 2020 for pilot-running a solution that utilizes VR and AR for improving the event planning experience.

This market research report provides a comprehensive overview of the market

* The Future potential of the market through its forecast for the period 2020– 2030
* Major factors driving the market and their impact during the short, medium, and long terms
* Market restraints and their impact during the short, medium, and long terms
* Recent trends and evolving opportunities for the market participants
* Historical and the present size of the market segments and understand their comparative future potential
* Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings