Varjo has launched an Unreal Engine and Unity platform for its VarjoReality Cloud platform. As a ready-to-use enterprise software as a service (SaaS), this product allows for full-scale VR/XR cloud streaming to be performed anywhere, at any time, and with any device that is supported.
Qualcomm Technologies Inc. announced the launch of the Snapdragon XR2+ Gen 1 platform for mixed and virtual (MR and VR) devices. In the latest Snapdragon XR2+ Gen 1 premium-tier XR platform, OEMs will be able to offer richer metaverse experiences packed into the lighter form factor thanks to new power and thermal improvements.
Author Credits: Abhishek Verma, Hetal Singh
Report ID: 4863
Published Date: Apr 29, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing demand for advanced technologies, such as augmented reality (AR), virtual reality (VR), and increasing use of extended reality technology in various industries, such as manufacturing, healthcare, and entertainment are the major factors driving the market growth.
The market size of extended reality is anticipated to attain a CAGR of ~33.60% over the forecast period, i.e., 2023 â€“ 2035.
High costs associated with the development and implementation of extended reality technology are estimated to be the growth hindering factors for the market expansion.
The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
The major players in the market are Accenture plc, Qualcomm Technologies Inc., Varjo, SoftServe Inc., Northern Digital Inc., Sony Corporation, Facebook Inc., Unity Technologies, Adobe Inc., Alphabet Inc. and others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by component, technology, solution, device type, end-user industry and by region.
The virtual reality segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.