Extended Reality (XR) Hardware Market is predicted to reach USD 10.1774 billion at a CAGR of 20.50% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Extended Reality (XR) Hardware Market”.

The Extended Reality (XR) Hardware market is estimated to register a CAGR of 20.50% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Extended Reality (XR) Hardware market— Qualcomm Incorporated, Accenture plc, Unity Technologies, Alphabet Inc., Adobe Inc., Northern Digital Inc., SoftServe Inc., Facebook Inc., and Sony Corporation.

Market Highlights

The global Extended Reality (XR) Hardware market is accounted to register a CAGR of 20.50% during the forecast period and is estimated to reach USD 10.1774 billion by 2032.

The market for Extended Reality (XR) hardware is expanding rapidly, mostly due to the rise in demand for remote work and collaboration on a global scale. Virtual and augmented reality technologies are among the XR solutions that are becoming more and more popular for communication, remote training, and virtual collaboration. XR hardware plays a crucial role in enabling more efficient and engaging remote collaboration by offering immersive experiences that surpass traditional video conferencing tools. In addition, the growing acceptance of augmented and virtual reality applications in training and marketing is driving up demand in the market. The demand for advanced and user-friendly XR hardware is being driven by companies' recognition of the potential of XR technologies to improve consumer engagement, deliver memorable brand experiences, and provide realistic simulations for training scenarios.

Segment Analysis

The global Extended Reality (XR) Hardware market has been segmented based on type and end-users.

Based on type, the global Extended Reality (XR) Hardware market has been segmented into Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR). The virtual reality (VR) segment was expected to hold the largest market share in 2022. Due to its widespread use in gaming and immersive entertainment, as well as its wide range of applications in industries like healthcare and education.

Based on end-users, the global Extended Reality (XR) Hardware market has been segmented into Education, Healthcare, Automotive, Aerospace, Retail, Manufacturing, and Media and Entertainment. The education segment was anticipated to hold the major market share in 2022. This is due to the growing incorporation of XR technology in training programs and classrooms improves student learning and comprehension.

Regional Analysis

The global Extended Reality (XR) Hardware market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Extended Reality (XR) Hardware market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Extended Reality (XR) Hardware market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Extended Reality (XR) Hardware market comprises of Middle East, Africa, and Latin America.

The largest market share for Extended Reality (XR) Hardware was maintained by the North American regional sector. One of the largest global markets for state-of-the-art mixed reality (MR) and virtual reality (AR, VR) is North America, primarily the United States, where a large number of companies developing this technology have their headquarters. The region is in high demand due to its high level of technological exposure and the ease with which linked devices can be operated.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for Extended Reality (XR) Hardware is driven due to robust government initiatives, increased corporate investment, and an increasing emphasis on XR technologies in sectors such as manufacturing and healthcare, which has expedited the growth and uptake of the market. Furthermore, the UK Extended Reality (XR) Hardware market was growing at the fastest rate in the European region, while the German Extended Reality (XR) Hardware market held the largest market share.

Additionally, The market of the Extended Reality Hardware of APAC is growing due to increased demand and widespread adoption of XR technologies across a range of industries can be attributed to several factors, including an increase in tech-savvy individuals, an increase in industrial applications, and pro-innovation government policies. Additionally, China led the Asia-Pacific region in market share for XR hardware, with the Indian market growing at the fastest rate.

Furthermore, the rest of the world's Extended Reality (XR) Hardware market is divided into the Middle East, Africa, and Latin America. This growth is attributed to growing demand and uptake of immersive technologies.

Key Findings of the Study

• The global Extended Reality (XR) Hardware market is expected to reach USD 10.1774 billion by 2032, at a CAGR of 20.50% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to due to increased demand and widespread adoption of XR technologies across a range of industries


• Based on type, the virtual reality (VR) segment was attributed to holding the largest market in 2022, accounting for more than quarter of market revenue.


• Qualcomm Incorporated, Accenture plc, Unity Technologies, Alphabet Inc., Adobe Inc., Northern Digital Inc., SoftServe Inc., Facebook Inc., Sony Corporation