The Asia Pacific Extended Reality Market should witness market growth of 30.8% CAGR during the forecast period (2022-2028).
Virtual realityis alsobeing used by automotive businesses to shorten the time between conceptual design and practical modeling. There is no requirement to create actual prototypes. Instead, information and resources for access control are given to engineers and technicians through an AR interface. Digital twins are used in production to visualize regional problems and flaws more quickly. Risky situations can be easily reenacted during staff training.
Moreover, AR and VR are encouraging deeper audience engagement with digital content. Digital connections have assumed prominence in the personal, business, and leisure spheres as a result of the pandemic. For example, experts and spectators areable to access real-time information about the weather, ball speed and trajectory, player history, and other topics by utilizing VR technology. The same holds for concerts,theatrical performances, and amusement parks.
Businesses also depend on MR technology to greatly expand people's understanding of the world by superimposing information on the real environment. Additionally, it can enhance cooperation by allowing remote teams to view the task in real timeand give more accurate feedback. Successful MRcontent for the entertainment industry needs to elicit an emotional response from the viewer.
A new experience studio has been established at the NITI Aayog Frontier Technologies Cloud Innovation Center (CIC)attributable to collaboration between NITI Aayog, Intel, andAmazon Web Services (AWS). Additionally, the National Institution for Transforming India (NITI Aayog) isthe national policy think tank of the Indian government. The studio will serve as a center for experimentation and collaboration between government stakeholders, businesses, startups,and industry domain experts to promote problem-solving and innovation. The regional market would expand as a result of this factor.
The China market dominated the Asia Pacific Extended Reality Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $12,559.9 million by 2028. The Japan market is estimated to grow a CAGR of 30% during (2022-2028). Additionally, The India market would experience a CAGR of 31.6% during (2022-2028).
Based on Component, the market is segmented into Hardware, Software and Services. Based on Technology, the market is segmented into Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR). Based on End-user, the market is segmented into Gaming, Aerospace & Defense, Manufacturing & Industrial, Healthcare, Education, Retail, Media & Entertainment and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Meta Platforms, Inc. (Facebook), Sony Corporation, Microsoft Corporation, Google LLC (Alphabet Inc.), Accenture PLC, Qualcomm Incorporated (Qualcomm Technologies, Inc.), HTC Corporation, Unity Software, Inc., Adobe, Inc., and SoftServe, Inc.
Virtual realityis alsobeing used by automotive businesses to shorten the time between conceptual design and practical modeling. There is no requirement to create actual prototypes. Instead, information and resources for access control are given to engineers and technicians through an AR interface. Digital twins are used in production to visualize regional problems and flaws more quickly. Risky situations can be easily reenacted during staff training.
Moreover, AR and VR are encouraging deeper audience engagement with digital content. Digital connections have assumed prominence in the personal, business, and leisure spheres as a result of the pandemic. For example, experts and spectators areable to access real-time information about the weather, ball speed and trajectory, player history, and other topics by utilizing VR technology. The same holds for concerts,theatrical performances, and amusement parks.
Businesses also depend on MR technology to greatly expand people's understanding of the world by superimposing information on the real environment. Additionally, it can enhance cooperation by allowing remote teams to view the task in real timeand give more accurate feedback. Successful MRcontent for the entertainment industry needs to elicit an emotional response from the viewer.
A new experience studio has been established at the NITI Aayog Frontier Technologies Cloud Innovation Center (CIC)attributable to collaboration between NITI Aayog, Intel, andAmazon Web Services (AWS). Additionally, the National Institution for Transforming India (NITI Aayog) isthe national policy think tank of the Indian government. The studio will serve as a center for experimentation and collaboration between government stakeholders, businesses, startups,and industry domain experts to promote problem-solving and innovation. The regional market would expand as a result of this factor.
The China market dominated the Asia Pacific Extended Reality Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $12,559.9 million by 2028. The Japan market is estimated to grow a CAGR of 30% during (2022-2028). Additionally, The India market would experience a CAGR of 31.6% during (2022-2028).
Based on Component, the market is segmented into Hardware, Software and Services. Based on Technology, the market is segmented into Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR). Based on End-user, the market is segmented into Gaming, Aerospace & Defense, Manufacturing & Industrial, Healthcare, Education, Retail, Media & Entertainment and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Meta Platforms, Inc. (Facebook), Sony Corporation, Microsoft Corporation, Google LLC (Alphabet Inc.), Accenture PLC, Qualcomm Incorporated (Qualcomm Technologies, Inc.), HTC Corporation, Unity Software, Inc., Adobe, Inc., and SoftServe, Inc.
Scope of the Study
By Component
- Hardware
- Software
- Services
By Technology
- Virtual Reality (VR)
- Augmented Reality (AR)
- Mixed Reality (MR)
By End-user
- Gaming
- Aerospace & Defense
- Manufacturing & Industrial
- Healthcare
- Education
- Retail
- Media & Entertainment
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Meta Platforms, Inc. (Facebook)
- Sony Corporation
- Microsoft Corporation
- Google LLC (Alphabet Inc.)
- Accenture PLC
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- HTC Corporation
- Unity Software, Inc.
- Adobe, Inc.
- SoftServe, Inc.
Unique Offerings
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. Asia Pacific Extended Reality Market by Component
Chapter 5. Asia Pacific Extended Reality Market by Technology
Chapter 6. Asia Pacific Extended Reality Market by End User
Chapter 7. Asia Pacific Extended Reality Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Meta Platforms, Inc. (Facebook)
- Sony Corporation
- Microsoft Corporation
- Google LLC (Alphabet Inc.)
- Accenture PLC
- Qualcomm Incorporated (Qualcomm Technologies, Inc.)
- HTC Corporation
- Unity Software, Inc.
- Adobe, Inc.
- SoftServe, Inc.
Methodology
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About the Extended Reality Market
Extended Reality (XR) is a term used to describe a range of technologies that combine the physical and digital worlds. XR is often used in conjunction with Artificial Intelligence (AI) to create immersive experiences that can be used for a variety of applications. AI can be used to create realistic virtual environments, allowing users to interact with digital objects in a realistic way. AI can also be used to create virtual assistants that can respond to user input and provide personalized Read more
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