Extended Reality Companies

The extended reality market is projected to reach USD 84.86 billion by 2029 from USD 24.42 billion in 2024 at a CAGR of 28.3% during the forecast period.

Key drivers for growth in the extended reality market include the growing use of extended reality in education, industrial training, healthcare, entertainment, and gaming, the availability of affordable VR devices, the growing demand for GenAI in extended reality technologies, and the rising demand for spatial computing in extended reality technologies.
Some of the major players in the extended reality market with significant global presence are Meta Platform Inc. (US), Microsoft (US), Sony Group Corp. (Japan), Apple Inc. (US), and Google (US). These players have incorporated various organic and inorganic growth strategies, including collaborations, acquisitions, product launches, partnerships, agreements, and expansions to strengthen their international footprint and capture a greater share of the extended reality market. These organic and inorganic strategies have allowed the market players to expand themselves across geographies by offering extended reality-based products.

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Major Extended Reality companies include:

• Meta Platforms Inc. (US)
• Microsoft (US)
• Sony Group Corp. (Japan)
• Apple Inc. (US)
• Google (US)
• HTC Corp. (Taiwan)
• PTC Inc. (US)
• Seiko Epson Corporation (Japan)
• Qualcomm Technologies Inc. (US)
• Samsung Electronics Co. Ltd (South Korea)
• Lenovo Group Ltd. (China)

Meta Platform Inc.

Meta Platform Inc. has a diversified strategy, including organic growth strategies such as product launches and seeking external growth strategies such as productivity enhancements through partnerships, acquisitions, and agreements, all aimed at strengthening Meta Platform's supremacy in the extended reality market. For instance, in March 2023, it became known that the company had ambitions to develop the AR glasses which will be available by 2027, with the internal workings and testing of the product likely commencing by 2024. In addition, the company possesses a well-organized sector within the organization and has significant customers worldwide. During the fiscal year 2023, the firm set aside 38% of its annual earnings for Research and Development expenditures. This allows the firm to develop cutting-edge products and services that provide users with exclusive immersive experiences in AR/VR/XR.

Sony Group Corporation

Sony Group Corporation is gaining momentum in the extended reality space lately quite aggressively by launching new products as well as investing in immersive technologies. The firm leverages its gaming, entertainment, and hardware manufacturing knowledge to offer competitive extended reality offerings. For instance, in February 2023, Sony announced the release of PlayStation VR2 and also a PlayStation VR2 Sense Controller Charging Station to enhance the gaming experience for its PlayStation fans. The newly unveiled PlayStation VR2 incorporated new features of eye tracking, 3D audio, and adaptive triggers that were intended to enhance the gaming experience. Also included in the VR headset is haptic feedback, which creates a sense of touch implemented in the device, making it even more sought out in the emerging extended reality gaming with advanced devices.

Related Reports:

Extended Reality Market by Augmented Reality (AR), Virtual Reality (VR), Mixed Reality (MR), Head-mounted Displays, Head-up Displays, Sensors, Controllers and Processors, Displays, Gaming, Retail, E-commerce and E-learning - Global Forecast to 2029

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