The valuation of the extended reality market will grow from $18.6 billion in 2019 to $1,005.9 billion by 2030. Furthermore, the market is predicted to advance at a CAGR of 48.3% between 2020 and 2030. Depending on device type, the market is divided into headset, personal computer (PC), and mobile. Out of these, the headset category will exhibit the fastest growth in the coming years.

This is credited to the soaring requirement for VR/AR headsets all over the world and the development of advanced headsets by the industry players. For example, VIVE Focus Plus, which is a standalone headset that consists of a pair of updated motion controllers, was launched by HTC Corporation in February 2019. This product supports six degrees of freedom (6DoF) tracking and it is powered by Qualcomm Snapdragon 835. It also consists of a 3K active-matrix organic light-emitting diode (AMOLED) display.

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Geographically, the extended reality (XR) market will demonstrate the fastest growth in Asia-Pacific (APAC) in the coming years, as per the estimates of the market research company, P&S Intelligence. This is credited to the growing proliferation of various AR/VR mobile applications and the increasing adoption of immersive technologies in media & entertainment and gaming applications in the region. Additionally, the soaring expenditure on the development of immersive technologies is also driving the progress of the market in this region.

Hence, it is safe to say that the demand for extended reality solutions will skyrocket all over the world in the forthcoming years, primarily because of the growing popularity of immersive technologies in various applications and the ballooning usage of connected devices and smartphones in several countries.