Why will Extended Reality Market Surge Sharply in Asia-Pacific in Coming Years?

Accenture plc and Qualcomm Incorporated announced a collaboration with InterContinental Hotels Group in January 2020 for pilot-running a solution that uses both VR and AR to improve the event planning experience. Depending on industry, the extended reality market is categorized into industrial & manufacturing, retail, education, media & entertainment, healthcare, aerospace & defense, and gaming.

Out of these, the industrial & manufacturing category dominated the market in 2019, due to the extensive usage of immersive technologies for training and development in various heavy industries such as chemicals, mining, and oil & gas. Across the globe, the extended reality market is expected to demonstrate the fastest growth in the Asia-Pacific (APAC) region in the forthcoming years.


This will be because of the increasing use of immersive technologies for gaming, media & entertainment, and various other purposes and soaring internet penetration in the region. In addition, the huge investments being made in the development of immersive technologies so that they can be used for training and development purposes in several industries, are also driving the expansion of the market in the region.


Hence, it can be safely said that the market will grow substantially in the coming years, mainly because of the growing usage of smartphones and connected devices and AR and VR solutions, increasing collaborations between industry players, and the ballooning requirement for immersive technologies across the world.

This market research report provides a comprehensive overview of the market
  • 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
 




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