XR Hardware Market is predicted to reach at a CAGR of 20.00% during the forecast period 2023-2032

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

The XR Hardware market is estimated to register a CAGR of 20.00% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global XR Hardware market— Accenture plc, Qualcomm Incorporated, Unity Technologies, Adobe Inc., Alphabet Inc., SoftServe Inc., Northern Digital Inc., Sony Corporation, Facebook Inc., Microsoft Corporation, Tata Elxsi, Semcon, HTC Corporation.

Market Highlights

The global XR Hardware market is accounted to register a CAGR of 20.00% during the forecast period and is estimated to reach USD 8.8 billion by 2032.

The industry's use of extended reality opens up new opportunities for medical professionals and has a promising future, particularly for modern healthcare organizations. The application of extended reality technology in the medical field is reducing expenses and enhancing patient results without posing a threat to patients' lives. The use of extended reality technologies is growing in both personal and professional contexts. These problems are expected to be resolved by 5G technologies, which will allow for the effective distribution of processing power.

Segment Analysis

The global XR Hardware market has been segmented based type and end use.

On the basis of type, the market is segmented into Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality. The virtual reality (VR) segment was attributed to holding the largest market share in 2022 because it enables cost savings in terms of design, production, and maintenance.

Based on end use, the global XR Hardware market has been segmented into Education, Automotive, Retail, Manufacturing, Aerospace, Healthcare and Media and Entertainment. The education segment was expected to hold the largest market share in 2022 because schools and colleges utilize augmented reality technology so widely.

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Regional Analysis

The global 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 XR Hardware market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The 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 XR Hardware market comprises of Middle East, Africa, and Latin America.

The largest market share for XR Hardware was maintained by the North American regional sector. North America is predicted to lead the global market over the projection period due to the existence of several significant corporations investing sizeable quantities in industry improvements, such as Qualcomm and Microsoft. Countries like the United States have been at the forefront in the development of augmented reality (AR), virtual reality (VR), and mixed reality (MR). The US is home to the vast bulk of the companies developing these technological innovations.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for XR Hardware is driven by rising environmental consciousness and the establishment of strict environmental legislation. The market expansion is supported by a Growing applications in the supply chain industry, such as supply chain management, will cause the market to grow.

Additionally, Due to growing investments in virtual reality and augmented worlds technologies, as well as to quicken the development of several other technologies and linked devices, the extended reality (XR) industry is expanding rapidly. The popularity of extended reality technology is also anticipated to increase as 5G technology becomes more widely used. Additionally, by enabling a more efficient allocation of processing resources to the network, 5G is anticipated to alleviate some of the main issues with extended reality.

Furthermore, the rest of the world's XR Hardware market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's rising use of extended reality technologies is growing in both personal and professional contexts. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.

Key Findings of the Study

• The global XR Hardware market is expected to reach USD 8.8 billion by 2032, at a CAGR of 20.00% during the forecast period.


• The Asia-Pacific region accounted for the growing investments in virtual reality and augmented worlds technologies, as well as to quicken the development of several other technologies.


• Based on type, the virtual reality (VR) segment was attributed to holding the largest market share in 2022.


• Accenture plc, Qualcomm Incorporated, Unity Technologies, Adobe Inc., Alphabet Inc., SoftServe Inc., Northern Digital Inc., Sony Corporation, Facebook Inc., Microsoft Corporation, Tata Elxsi, Semcon, HTC Corporation.