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Extended Reality (XR) Market size is set to grow by USD 1.04 trillion from 2024-2028, Rapid improvements in sensor technology boost the market, Technavio

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NEW YORK, June 17, 2024 /PRNewswire/ — The global extended reality (XR) market size is estimated to grow by USD 1.04 trillion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 56.45%  during the forecast period. Rapid improvements in sensor technology is driving market growth, with a trend towards advent of 5G. However, infrastructural and integration issues  poses a challenge. Key market players include 3D Systems Corp., ABB Ltd., Accenture Plc, Alphabet Inc., Canon Inc., HTC Corp., Intel Corp., Lenovo Group Ltd., Magic Leap Inc., Meta Platforms Inc., Microsoft Corp., NVIDIA Corp., PTC Inc., Qualcomm Inc., Roper Technologies Inc., Seiko Epson Corp., SoftServe Inc., Sony Group Corp., Tata Sons Pvt. Ltd., and VertexPlus Technologies Ltd..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Extended Reality (XR) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 56.45%

Market growth 2024-2028

USD 1040.6 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

44.25

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 40%

Key countries

US, China, Germany, UK, and Japan

Key companies profiled

3D Systems Corp., ABB Ltd., Accenture Plc, Alphabet Inc., Canon Inc., HTC Corp., Intel Corp., Lenovo Group Ltd., Magic Leap Inc., Meta Platforms Inc., Microsoft Corp., NVIDIA Corp., PTC Inc., Qualcomm Inc., Roper Technologies Inc., Seiko Epson Corp., SoftServe Inc., Sony Group Corp., Tata Sons Pvt. Ltd., and VertexPlus Technologies Ltd.

Market Driver

The extended reality (XR) market is set to experience significant growth with the rollout of 5G technology. This next-generation wireless technology offers high bandwidth and low latency, enabling real-time, immersive XR experiences. 5G enables the use of AR in live, outdoor environments and facilitates cloud-based gaming. Vendors like Qualcomm and Samsung are partnering with telecom providers to offer affordable 5G subscriptions. By 2025, global 5G deployment is expected, unlocking new XR applications in remote collaboration, training, and education. 

The Extended Reality (XR) market is experiencing significant growth with technologies such as Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) gaining traction. According to recent studies, the global XR market is projected to reach new heights, with VR devices and simulations becoming increasingly popular in industries like gaming, healthcare, and training.

The use of XR in education and simulation training is also on the rise, providing new opportunities for businesses. Furthermore, the integration of AR in consumer applications, such as shopping and entertainment, is driving market growth. The future of XR looks promising, with advancements in technology and increasing adoption across various sectors. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The extended reality (XR) market faces challenges due to unequal geographic penetration. Many countries lack advanced internet infrastructure, hindering XR adoption. This issue is more pronounced in the enterprise segment, where strong internet connectivity is essential. Potential customers are waiting for improved user experience through better hardware, content, and infrastructure. The lack of high-speed Internet in several regions may hinder market growth during the forecast period.The Extended Reality (XR) market is experiencing significant growth, with technologies such as Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) gaining traction. However, the industry faces several challenges. One major challenge is the high cost of XR hardware and software, limiting its accessibility to businesses and consumers. Another challenge is the lack of standardized XR content and platforms, making it difficult for developers to create and distribute content.Additionally, concerns around privacy and security in XR applications need to be addressed. Furthermore, the integration of XR technology into existing business processes and workflows requires careful planning and investment. Lastly, the need for skilled professionals in XR development and implementation is increasing, posing a challenge for organizations in terms of talent acquisition and retention.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

Application 1.1 VR1.2 AR1.3 MRComponent 2.1 Hardware2.2 Software and servicesGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 VR-  XR Market, which includes Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR), is experiencing significant growth. Businesses are adopting XR technologies to enhance customer experiences, improve training programs, and increase productivity. VR provides immersive environments, while AR overlays digital information onto the real world. MR combines elements of both. XR is revolutionizing industries such as healthcare, education, and manufacturing. Companies are investing in XR to gain a competitive edge. The market is expected to continue expanding due to advancements in technology and increasing demand.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Extended Reality (XR) market encompasses Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) technologies. This sector is experiencing significant growth due to the increasing demand for immersive experiences in various industries. In the healthcare sector, XR technology is revolutionizing contemporary healthcare institutions by enabling doctors and surgeons to visualize target organs in 3D, enhancing precision and effectiveness.

In the education sector, XR technology is transforming industrial training through simulations and games, providing students with interactive and engaging learning experiences. The entertainment industry, including online gaming, is also leveraging 5G technology and XR devices to deliver high-definition XR content. The gaming industry is witnessing a surge in the adoption of XR technology, offering players a more immersive and interactive gaming experience. Overall, the XR market is poised for exponential growth, with applications spanning across multiple industries and use cases.

Market Research Overview

The Extended Reality (XR) market encompasses immersive technologies, including Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR). XR technologies offer transformative experiences by merging digital information with the physical world. The global XR market is experiencing significant growth due to increasing demand for immersive experiences in various sectors such as education, healthcare, entertainment, and manufacturing.

The use of XR in training and simulation, product design, and remote collaboration is driving market expansion. Furthermore, advancements in technology, such as haptic feedback and eye-tracking, are enhancing user experience and increasing market potential. The market is expected to continue its upward trajectory, offering numerous opportunities for businesses and innovators alike.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationVRARMRComponentHardwareSoftware And ServicesGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Aclaimant Recognized as Innovator in Redhand Advisors Annual RMIS Report with its Revolutionary AI Assistant

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CHICAGO, May 5, 2025 /PRNewswire/ — Following its recognition as an Innovator in Redhand Advisor’s 2025 RMIS Report, Aclaimant, a leader in next-generation risk management solutions, today announced the launch of its AI Assistant. This powerful tool leverages artificial intelligence to deliver real-time support for critical risk management tasks, including data analysis, risk assessments, compliance monitoring, and informed decision-making. By providing immediate insights and streamlined workflows tailored to the needs of risk and safety managers, AI Assistant proactively identifies risks, mitigates threats, and optimizes resource allocation.

“Our clients face increasing demands with limited resources,” stated David Wald, Co-Founder and President of Aclaimant. “AI Assistant serves as their dedicated risk management partner, capable of searching, summarizing, analyzing, predicting, recommending, and executing tasks and actions. This is a true force multiplier, and we are just beginning to unlock its potential.”

AI Assistant also powers Aclaimant’s patent-pending DIPDash (Data Ingestion Pipeline & Dashboard). This specialized multi-stage platform directly addresses the significant challenges the insurance industry encounters in obtaining, creating, and maintaining high-quality data sets across all systems of record, particularly with insurance claims.

“Aclaimant’s AI capabilities, built upon our modern architecture, represent a fundamental shift in the Risk Management Information Systems (RMIS) space,” affirmed Kathy Burns, CEO of Aclaimant. “We are honored by Redhand Report’s recognition of our industry leadership. Our AI-driven analytics and workflow solutions are revolutionizing the RMIS landscape, delivering immediate value and enabling clients to go live in weeks, not months or years.”

For more information about Aclaimant and AI Assistant, please visit https://www.aclaimant.com/solutions/ai-insights

About Aclaimant

Aclaimant is a next-generation Risk Management Information System (RMIS) designed to empower every organization to protect what matters most. Our intuitive, easy-to-use and powerful platform enables employers, brokers, carriers and TPAs to reduce the cost of risk and drive higher productivity. Aclaimant transforms the management of data, people, and processes through its workplace safety, incident and claims management, assets and exposures, AI and analytics solutions. Thousands of safety and risk management professionals rely on Aclaimant to achieve better outcomes. For more information, visit https://www.aclaimant.com.

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Heinemann Releases New Edition of Saxon Reading Foundations

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Updated Foundational Literacy Program Will Include New Digital Experience, Integrated Phonics Assessments and More

PORTSMOUTH, N.H., May 5, 2025 /PRNewswire/ — Heinemann today announced the release of an updated edition of its popular foundational literacy program Saxon Reading Foundations. Previously known as Saxon Phonics and Spelling, the new program will be redesigned to feature engaging and kid-friendly illustrations alongside a brand new digital experience and new and updated content aligned to the latest science of reading research. Saxon Reading Foundations will be available on the Heinemann Flight platform for the 2025-2026 school year.

Authored by special education teacher Lorna Simmons, Saxon Reading Foundations is a research-based, structured, sequential phonics program for K-2 students, designed to explicitly teach phonemic awareness, phonics and fluency. Simmons’ years of formal training and classroom experience combined with her personal struggles to guide her own dyslexic son to reading success provide a unique foundation for this immersive program that has been found to be consistently effective for children of varying ability levels and socioeconomic backgrounds.

“I know from firsthand experience as a parent and as an educator how absolutely crucial it is all for students to receive evidence-based foundational skills instruction,” said Lorna Simmons. “I’m proud that Saxon has helped to turn so many children into successful readers and I’m excited to offer a new edition that builds on the program’s strengths, incorporates the most up-to-date research on effective instruction, and provides digital tools that will help make teachers’ lives easier.”

Research-Based Enhancements to Strengthen Instruction
The new edition of Saxon will add a new scope and sequence in Grade K with students being introduced to a new letter a day to reflect the latest research on appropriate pacing. There will be new practice opportunities with decodable text included in student workbooks and phonological awareness instruction integrated into the lessons in Grades K and 1. Grade 2 will add morphology extension lessons as part of an updated scope and sequence, giving students additional opportunities to practice advanced phonics skills. The new program will also have improved multilingual learner supports throughout and new beginning-, middle- and end-of-year phonics assessments to help teachers track student progress and tailor instruction to meet students’ needs.

New Digital Tools to Increase Ease of Use for Teachers
An updated digital experience on the Heinemann Flight platform will provide teachers with implementation and pacing support alongside expanded classroom modeling and tutorial videos. The new edition of Saxon will also add digital assessment and reporting capabilities so teachers can quickly monitor student progress and access student data to inform classroom instruction.

“Over the course of its nearly 40-year history, Saxon Reading Foundations has been incredibly popular among classroom teachers, thanks to its immersive, innovative and engaging design. But the main driver of the program’s continued success is a simple yet powerful one: it is extremely effective at helping children master the foundational skills they need to become confident and joyful readers,” said Maggie DeMont, general manager of Heinemann. “Heinemann is delighted to be able to continue to perfect this proven program with a brand new edition, designed to help transform the next generation of students into successful readers.”

For more information about Saxon Reading Foundations, please visit: https://www.heinemann.com/saxon-reading-foundations/.

About Heinemann
Heinemann is a leading provider of professional resources and educational services for educators, kindergarten through college. Heinemann supports the professionalism of teachers as they help children become literate, compassionate, engaged citizens of the world. Heinemann authors are exemplary educators eager to support the practice of other teachers through professional books and explicit teaching materials, streaming videos, podcasts and blogs, as well as professional learning experiences, both live and online. Heinemann is dedicated to teachers and the modernization of the teaching profession. Visit Heinemann.com to learn more.

Media Contact:
Erika McCaffrey
Director, Communications
Heinemann Publishing
publicity@heinemann.com

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Small Businesses Stay Confident Amid U.S. Economic Uncertainty

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New GoDaddy research shows entrepreneurs remain focused on growth despite rising concern

TEMPE, Ariz., May 5, 2025 /PRNewswire/ — Nearly half of U.S. small and microbusiness owners expect the national economy to weaken in the coming months. Despite the outlook, most still believe their own businesses will grow, according to new survey data released today by GoDaddy.

In the latest findings from the GoDaddy Small Business Research Lab, formerly known as Venture Forward, 49% of 2,100 U.S. microbusiness owners* surveyed predict a weaker economy in the next six months. That is up 17 points from 2024. Even so, 66% of respondents have positive revenue expectations, and only 9% forecast a sales decline.

“Small business owners are realistic about the economy, but they believe in themselves,” said GoDaddy CEO Aman Bhutani. “GoDaddy’s research shows they remain intent on pushing their small businesses forward.”

The GoDaddy Small Business Research Lab findings reflect a steady shift over time. In 2023, 73% of microbusiness owners said they expected to grow revenue in the first 6 months of the year. Now in 2025, it stands at 66%. Most respondents still expect growth, clearly, but the trend indicates weakening optimism.

Entrepreneurs are also adjusting their long-term goals. 40% now say they plan to remain solo entrepreneurs – up from 36% last year – versus aspiring to build mid-size or corporate enterprises. This points to a growing interest in right-sized businesses that match owners’ lifestyles and risk tolerance.

Rising Costs Put Pressure on Small Business Margins

While optimism holds, cost pressures are rising and showing up not just in what small businesses pay, but what they can charge. Over half (52%) of respondents cited limited cash flow as their biggest financial barrier, but existing expenses (34%) and pricing pressure on goods and services (33%) ranked highest among specific cost challenges.

These pricing pressures are especially acute among Construction & Home Trades (40%) and Creative-Media businesses (36%), with solo operators and small teams reporting they are feeling the pinch of existing operating costs the most. For businesses with 5–9 employees, wages emerged as the top cost barrier (45%), reflecting a shift toward labor-related pressure once headcount rises.

One in three owners (33%) also named financial strain as their primary source of stress—ranking it above challenges like adopting new technology, managing vendors, or finding and retaining customers.

Access to capital, often a major hurdle for new businesses, appears to be improving. Only 8% of owners say it is their top challenge, down from 10% the year before.

Sharing their perspective on the results, Victor W. Hwang, founder and CEO of Right to Start, a nonprofit that promotes U.S. small business growth, added: “The results of this GoDaddy survey demonstrate quantitatively the drive and resilience of entrepreneurs all across the United States. Their commitment to their enterprises is relentless and innovative. America’s entrepreneurs are an extraordinary resource for strengthening the U.S. economy and growing new businesses and jobs nationwide.”

Commenting on the findings, small business owner Leo Lopez owner of San Jose-based La Fenice Pizza said: “The economy is definitely uncertain right now, but as a small business owner, you learn to live with that. I’ve had to adjust, simplify, and focus on what really works, and that’s helped me grow stronger. For me, resilience isn’t about being unaffected. It’s about finding a way to keep going, even when things get unpredictable. That’s how I’ve built my business, and I think a lot of us are doing the same.”

“Entrepreneurs are planning for what is ahead,” Bhutani added. “They are navigating these times by staying focused and determined. At GoDaddy, our job is to make sure they have the tools they need to succeed.”

For more insights from GoDaddy’s latest small business research, visit the full report here:
https://www.godaddy.com/ventureforward/the-future-of-entrepreneurship-is-leaner-smarter-and-more-resilient

About GoDaddy

GoDaddy helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a website and logo, sell their products and services and accept payments. GoDaddy Airo®, the company’s AI-powered experience, makes growing a small business faster and easier by helping them to get their idea online in minutes, drive traffic and boost sales. GoDaddy’s expert guides are available 24/7 to provide assistance. To learn more about the company, visit www.GoDaddy.com

* Microbusinesses are small businesses that typically employ fewer than 10 employees.

Source: GoDaddy Inc.

 

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