Authored By: Sarah
03 Dec 2023

Sensor Technology advancements to drive USD 443.26 Bn Extended Reality (XR) market development

Rapid advancements in sensor technology is propelling the market expansion of the Extended Reality (XR) Market at large resulting in production of sensors that are cost effective. The need for smart sensors with high reliability, low maintenance and repair costs, and short replacement periods is growing due to the continuous change occurring in many different industries and sectors. In all corporate operations, these sensors promote operational efficiency.

Between 2023 and 2027, the size of the extended reality market is expected to grow by USD 443.26 billion, at a compound annual growth rate of 43.09%. Over the course of the projection period, a strong emphasis on sensor technology research & development is anticipated to promote market expansion. 

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Snapshot of Extended Reality Market Analysis 

Top Businesses in the in the Extended Reality (XR) Market value chain comprises names 3D Systems Corp., ABB Ltd., Accenture Plc, Alphabet Inc., Canon Inc., HTC Corp., Intel Corp., Lenovo Group Ltd., Magic Leap Inc. that comes with highest quality offerings with incorporation of latest technology such as AR and VR.

Factors that will shape the market throughout the projection period have been thoroughly discussed by Technavio's experts. Find out more about the market dynamics and the factors that our in-depth study forecasts will have the most influence on the market.

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