XR Headset Market

The growing use of XR headsets in e-commerce, fashion & beauty, and healthcare sectors is anticipated to boost the XR headset market in the upcoming years.

PORTLAND, PORTLAND, OR, UNITED STATE, March 17, 2023 /EINPresswire.com/ -- The growing use of XR headset in the media and entertainment sector drive the growth of the global XR headset market. However, the e shortage of skilled technical personnel having good XR technology knowledge along with a lack of awareness about the technology in developing countries is predicted to hamper the market growth.

Moreover, the industry players are investing a lot of effort on the R&D of smart and unique strategies to sustain their growth in the market, thereby presenting new opportunities in the coming years.

According to the report, the global XR headset industry generated $38.1 million in 2021, and is anticipated to generate $401.4 million by 2031, witnessing a CAGR of 28.3% from 2022 to 2031.

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Impact of COVID-19 on the Global XR Headset Industry:

• The COVID-19 pandemic disturbed almost all business activities across the globe, as several countries closed their ports, domestic transportation as well as airports while imposing strict lockdowns and social isolation.

• The COVID-19 outbreak has positively impacted the demand for XR headsets owing to the strict lockdowns across the globe.

• Several organizations mandated their employees to work from home, thus, raising the need for virtual meetings, training, and conferences.

• The COVID-19 outbreak has increased the use of XR headsets across various sectors including healthcare, education, automotive, e-commerce, and others.

Based on the solution, the consumer engagement segment held the highest market share in 2021, accounting for more than half of the global XR headset market, and is estimated to maintain its leadership status throughout the forecast period. XR headsets increase customer engagement by stimulating their senses as they interact with the goods that are for sale.

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However, the business engagement segment is projected to manifest the highest CAGR of 29.0% from 2022 to 2031. Interaction between employers, vocational rehabilitation (VR), and other workforce development and education organizations that results in measurable improvements in desired outcomes for both parties is referred to as business engagement. Additionally Better insight through data visualization. It's improved internal communication and collaboration. Because all of this extended reality had become more common in the business world.

Based on end user, the media and entertainment segment held the highest market share in 2021, accounting for nearly one-thirds of the global XR headset market, and is estimated to maintain its leadership status throughout the forecast period. Due to individuals being forced to stay at home and engage in activities that promote social isolation, the use of XR headsets in the media and entertainment sector has significantly expanded, since 2020. However, the healthcare segment is projected to manifest the highest CAGR of 29.9% from 2022 to 2031.

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for nearly one-thirds of the global XR headset market. However, the Asia-Pacific region is expected to witness the fastest CAGR of 29.9% from 2022 to 2031, and is likely to dominate the market during the forecast period. The region's media and entertainment sector's increasing use of VR and AR technologies is largely to contribute for this huge rise. Additionally, improvements in 5G infrastructure in China and India are anticipated to boost XR headset sales in this region over the course of the projection period.

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The key players profiled in this report include are Varjo, HTC Corporation, HP Development Company, L.P., Trimble Inc., Microsoft, Meta, Valve Corporation., Samsung, Advanced Micro Devices, Inc, Google, and others.

Key Benefits For Stakeholders:

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the xr headset market analysis from 2021 to 2031 to identify the prevailing xr headset market opportunities.

• The market research is offered along with information related to key drivers, restraints, and opportunities.

• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

• In-depth analysis of the xr headset market segmentation assists to determine the prevailing market opportunities.

• Major countries in each region are mapped according to their revenue contribution to the global market.

• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

• The report includes an analysis of the regional as well as global xr headset market trends, key players, market segments, application areas, and market growth strategies.

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