Growth Opportunities in the VR and AR-MR Market—Forecast to 2028

Growth Opportunities in the VR and AR-MR Market Forecast to 2028

This research service analyzes the global virtual and augmented-mixed reality (VR and AR-MR) technologies as a part of the broader extended reality (XR) technology. XR is an umbrella term referring to the spectrum of experiences and technologies that immerse users or augment the real world through audio, visual, and haptic cues. XR is at the heart of the futuristic digital transformation to offer immersive and assisted experiences through a 3D virtual environment.

The foundations of the VR and AR-MR market have been visibly solidifying over the last two to three years, with big companies investing billions of dollars to enable VR and AR-MR growth. Tech providers wanting to reap the benefits of VR and AR-MR opportunities need to react quickly to what is expected to be the future iteration of the Internet and content.

The study forecasts revenues of the total global VR and AR-MR market and provides individual forecasts by type of XR technology, usage, and hardware versus software revenues. Categorized by the type of XR technology, the study forecasts the VR market separately from the AR and MR markets. AR and MR technologies have been grouped together in this research as “AR-MR” since both experiences merge elements of real and virtual worlds as opposed to offering a fully simulated or user-immersed VR experience.

The study forecasts the total VR and AR-MR market and the individual VR and AR-MR markets by personal and commercial use cases. Commercial use cases include both vertical use cases and the enterprise or corporate office segments. This study also provides a comparative revenue forecast for VR and AR-MR hardware-related endpoints and VR and AR-MR software services. Hardware VR and AR-MR revenues are composed of manufacturer-level sales of endpoints (for example, headsets, glasses, and related accessories) to service providers, distributors, retailers, resellers, and other distribution channels, as well as direct sales to personal or commercial customers. Heads-up displays have not been included in the count. Software VR and AR-MR revenues are composed of finished and commercialized content revenue offerings sold by various types of companies (for example, software developers, platform companies, content creators, etc.) for personal and commercial usage, including gaming, entertainment, tourism, training, manufacturing, real estate, retail and advertising, healthcare, education, automotive, military and defense, and more.

RESEARCH BENEFITS

The study also provides comparative 2020 versus 2021 revenue market splits for the following regions:

North America
Europe, Middle East, and Africa
Asia-Pacific
Latin America