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Extended Reality Market worth $84.86 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Dec. 17, 2024 /PRNewswire/ — The extended reality market is expected to reach USD 84.86 billion by 2029, up from USD 24.42 billion in 2024, at a CAGR of 28.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of extended reality technology can be attributed to growing use of extended reality in education, industrial, healthcare, and gaming applications, increasing focus of technology providers on developing affordable VR devices, integration of spatial computing in extended reality applications, and development of GenAI in extended reality applications. Furthermore, the availability of 5G networks coupled with AI-fueled applications of extended reality also aids in the market expansion.

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Browse in-depth TOC on “Extended Reality Market” 

222 – Tables
77 – Figures
314 – Pages

Extended Reality Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 24.42 billion

Estimated Value by 2029

$ 84.86 billion

Growth Rate

Poised to grow at a CAGR of 28.3%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Type, Enterprise Size, Outlook, Technology, Device type, Offering, Application and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Issues related to latency and limited field of view

Key Market Opportunities

Emergence of newer applications of XR in automotive and aerospace & defense sectors

Key Market Drivers

Integration of spatial computing technology in XR applications

Based on device type, Augmented reality (AR) and Virtual reality (VR) devices will hold the largest market share in the extended reality market during the forecast period.

In the metrics of the extended reality market by device type, augmented reality (AR) and virtual reality (VR) devices will dominate the market during the forecast period. This is attributed to the rising usage of augmented and virtual reality in different sectors, namely gaming, healthcare, retail, and education, among others. Moreover, the market growth of AR and VR devices is because of technological developments such as AI incorporation, connectivity via 5G technology, and availability of better-performance hardware devices that help to improve user experience and enhance device usage. VR devices are becoming less expensive and more versatile. AR devices are growing in use for industrial training, distant teamwork, and medical imaging equipment, increasing their popularity worldwide.

Hardware to account for the highest CAGR in the offering segment during the forecast period.

The hardware segment is anticipated to record the highest CAGR for the offering segment of the extended reality industry throughout the forecast period. This growth is attributed to the increasing uptake of sophisticated AR and VR equipment, such as head-up displays, smart glasses, and VR headsets. There is an expansion in user acceptance and engagement due to active technological improvements in hardware systems, with better displays, lightweight devices, powerful processors, and the combination of those devices with AI and 5G networks. Furthermore, the increasing use of extended reality hardware in gaming, healthcare, automotive, and industrial training creates the need for more powerful and durable devices. Moreover, low-priced and high-performing devices presented by key players in the market are also enabling more people to use XR hardware. This is also due to more resources allocated toward developing next-generation hardware and the growing trends of using wearable extended reality devices in the workplace.

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North America to account for the largest market share during the forecast period.

During the forecast period, North America is expected to witness leading region in terms of market share. This can be attributed to its well-developed digital abilities, such as the widespread provision of 5G services, and the provision of high-band internet facilitated the growth of the extended reality apps in the region. Several sectors in North America are quick to incorporate extended reality technologies, including gaming, healthcare, retail, and education. Furthermore, consumers in North America tend to have strong purchasing power, factors that encourage greater use of extended reality devices within the region.

The report profiles key players in extended reality companies such as Meta Platform 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). These players have adopted various organic and inorganic growth strategies such as product launches, expansions, partnerships, collaborations, acquisitions, contracts, and agreements.

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Augmented and Virtual Reality Market by Enterprise, Technology (Augmented Reality, Virtual Reality), Offering (Hardware, Software), Device Type (HMDs, HUDs, Gesture Tracking Devices), Application and Region – Global Forecast to 2029

Augmented Reality Market Size, Share & Industry Growth Analysis Report by Product by Device Type (Head-mounted Display, Head-up Display), Offering (Hardware, Software), Application (Consumer, Commercial, Healthcare), Technology, and Geography – Global Forecast to 2026

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Strengthening the Foundation for Mass Production: Lead Intelligent’s Warm Isostatic Pressing Machine Accelerates Solid-State Battery Industrialization

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WUXI, China, Oct. 28, 2026 /PRNewswire/ — Solid-state batteries are at a critical stage of transition from pilot production to large-scale manufacturing. To address key challenges in densification and solid-solid interface contact, Lead Intelligent has developed a horizontal warm isostatic pressing machine that delivers uniform three-dimensional pressure of up to 600 MPa across a wide temperature range from room temperature (RT) to 150°C. The machine achieves temperature control accuracy of ±2°C and pressure control accuracy of ±2%. Integrating automatic loading and unloading with precise, coordinated temperature and pressure control, the machine can increase cell density to over 95%, accelerating the industrialization of solid-state batteries.

As solid-state batteries move toward mass production, two major challenges remain: high impedance caused by insufficient solid-solid interface contact, and the limitations of conventional unidirectional pressing, including uneven density and pronounced edge effects. Based on Pascal’s principle, isostatic pressing applies isotropic pressurization within a sealed chamber to achieve multidimensional material compaction and densification. It is a key processing route for addressing solid-solid interface contact challenges in solid-state batteries.

For the practical requirements of large-scale solid-state battery manufacturing, warm isostatic pressing offers an effective balance between densification performance, production efficiency, and manufacturing cost, making it a highly cost-effective option for mass production. As construction of solid-state battery capacity accelerates, warm isostatic pressing machines are becoming core incremental machines for battery manufacturers’ next-generation solid-state production lines.

Core Technology: Precise Temperature-Pressure Coordination for High-Precision Process Control

Building on its R&D system, Lead Intelligent’s horizontal warm isostatic pressing machine overcomes the “black box” limitations of traditional warm isostatic pressing process by enabling real-time monitoring of temperature and pressure inside the chamber. The machine upgrades from conventional unidirectional pressing to precise temperature-pressure coordination to promote closer contact between electrodes and electrolytes, making it well suited for solid-state battery mass production.

Pressure system: It delivers uniform three-dimensional pressure of up to 600 MPa, with pressure control accuracy ≤±2%. Automatic pressure compensation and emergency depressurization functions keep pressure fluctuations within ±2% during a 30-minute pressure holding period, ensuring process stability and repeatability.

Temperature system: The working temperatures can reach up to 150°C, and can be adjusted within a wide operating range from room temperature (RT) to 150°C, with temperature control accuracy of ±2°C. The initial heating time to 150°C takes no more than three hours, balancing process adaptability with mass production cycle-time requirements.

Chamber specifications: The working chamber inner diameter is ≥400 mm, the effective length is ≥4,000 mm, and the volume is around 500 L. It accommodates batch processing of workpieces in various sizes and meets the capacity requirements of GWh-scale production lines.

Designed for Mass Production: Comprehensive Optimization for Large-Scale Manufacturing

For GWh-scale manufacturing, warm isostatic pressing machines must do more than meet core process specifications. They shall also coordinate with whole line cycle time, logistics systems, and upstream and downstream processes. To meet these requirements, Lead Intelligent has optimized machine structure, automatic operation, and safety systems in parallel.

Horizontal Design for Continuous Production Lines

The horizontal working chamber and automatic loading and unloading design significantly reduce factory height requirements while seamlessly integrating with automatic logistics systems to meet the needs of continuous production and material transfer between upstream and downstream processes, adapting to takt-based operation on large-scale production lines. Electrodes and solid electrolytes can be stacked and assembled before being loaded into the chamber for pressing and densification, simplifying process flow.

Full-process Automation to Minimize Manual Intervention

The machine enables unmanned operation throughout cell pretreatment and material box circulation. It integrates four key functions: cell hot air preheating, cold air drying and cooling, automatic fixture loading and unloading, and material box automatic circulation. The machine covers the entire workflow including loading, pretreatment, isostatic pressing and unloading, minimizing manual intervention and improving production efficiency and process consistency within each batch.

Multi-Layered Safety Controls for Reliable Operation

The machine incorporates a comprehensive multi-layered safety assurance system. At the foundational level, the machine is equipped with dual pressure and temperature monitoring for the chamber, together with pipeline pressure-relief ports to safeguard machine operation. In addition, an innovative triple deformation monitoring system provides real-time monitoring to enhance operational safety and maintain process precision.

As a world-leading provider of intelligent manufacturing solutions for the new energy industry, Lead Intelligent has completed the full-process layout for solid-state battery manufacturing, covering key stages including dry electrode processing, high-precision stacking, warm isostatic pressing, and formation and grading. The company has the capacity for batch delivery of GWh-level solid-state battery whole line solutions.

Looking ahead, Lead Intelligent will continue to strengthen its intelligent manufacturing equipment capabilities, accelerating the industrialization of solid-state batteries and other advanced battery technologies and contributing LEAD power to the global new energy industry.

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SOURCE LEAD Intelligent

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Ascendion Expands AI Advisory Community with Four Global Business and Technology Leaders

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Former Global CTO of Banco Santander, former Group CIO of Currys, former CEO of IBPAP, and former Microsoft CVP and CTO of AI join the advisory community

Advisors will provide guidance on AAVA platform innovation, AI strategy, C-suite alignment, and enterprise adoption across Asia-Pacific, Europe, North America, and the UK

The growing community of advisors will bring practitioner perspective closer to Ascendion as enterprises move AI from experimentation to governed, production-scale outcomes

BASKING RIDGE, N.J., Oct. 28, 2026 /PRNewswire/ — Ascendion, an AI-native software engineering company, today announced the appointment of four global business and technology leaders to its AI Advisory Community: Andy Gamble, Jack Madrid, Julieta Ross, Ph.D., and Joseph Sirosh, Ph.D. 

The advisors bring perspectives rarely found in one group: executives who answered to Boards, regulators, and C-suites for what technology actually delivered; a builder of AI and data platforms at global scale; and a leader who shaped one of the world’s largest technology-services and talent ecosystems. Their experience spans banking, high-tech, media, and retail. Each will work directly with Ascendion’s regional and engineering leaders, so their counsel reaches the decisions it is meant to shape. 

“We are changing how software gets built. Enterprise leaders have moved past experiments. They want AI that delivers outcomes boards can measure and risk they can manage. Andy, Jack, Julieta, and Joseph have the experience and know where transformation succeeds. They will challenge our thinking, raise our ambition, and help us navigate a period of intense — and exciting — change,” said Karthik Krishnamurthy, CEO, Ascendion.  

Each advisor will map to a different part of the business, strengthening Ascendion’s alignment with leadership communities across the globe. 

Julieta Ross, Ph.D., former Global CTO of Banco Santander, brings two decades of leading technology inside global banks, along with public-company board experience. She will work with Ascendion’s leadership on executive relationships, go-to-market strategy, and growth, and will help the company meet the governance, regulatory, and risk expectations that banking and financial services leaders place on AI. 

Andy Gamble, former Group CIO of Currys plc, has spent nearly three decades as a technology buyer and transformation leader across consumer electronics, industrial, and retail businesses. He will advise Ascendion’s work across Europe and the UK, with a focus on consumer goods, manufacturing, and retail, and will share what executive teams and Boards expect from a technology partner. 

Joseph Sirosh, Ph.D., former Microsoft CVP and CTO of AI, has spent his career building and scaling machine learning platforms in the high-tech industry. He will advise Ascendion’s engineering leadership on the evolution of AAVA and its broader platform strategy as AAVA becomes an orchestration and harness layer for enterprise AI. 

Jack Madrid, former President and CEO of IBPAP, spent five years leading the industry association behind one of the world’s largest technology and business-services ecosystems, centered in the Philippines. He brings robust experience working across industries, including banking, high-tech, and media, and will advise Ascendion on Asia-Pacific markets and on how AI is reshaping global delivery, skills, and workforce models. 

Together, the advisors give Ascendion an outside perspective on the full spectrum of enterprise AI, from agentic platform strategy and product engineering to industry alignment and delivery. They will add capacity to Ascendion’s ongoing work on AI governance, helping ensure trusted impact from AI-native software engineering, and their practice-based insight will inform how Ascendion applies its Engineering to the Power of AI™ approach to commercial models, platform design, service execution, and workforce development. 

About Ascendion

Ascendion is a global AI-native software engineering company delivering trusted business outcomes – capital unlock, innovation velocity, lower risk – to 250+ enterprise clients. The company delivers business outcomes at scale by combining expert engineers, AI agents, and AAVA, Ascendion’s agentic AI platform. Together, they design, engineer, and operate production-ready software that improves everyday work and life. Learn more at www.ascendion.com.

Engineering to the Power of AI™, Engineering to Elevate Life™, and AAVA™ are trademarks or service marks of Ascendion. AAVA™ is pending registration. Unauthorized use is strictly prohibited.

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Canara HSBC Life Insurance Earns ‘Leader’ ESG Rating from NSE Sustainability Ratings & Analytics

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Achieves ESG score of 71, with strong performance across environmental stewardship, governance and stakeholder well-being

NEW DELHI, Oct. 28, 2026 /PRNewswire/ — Canara HSBC Life Insurance Company Limited (“Canara HSBC Life Insurance”) has been recognised in the ‘Leader’ Rating Category in the FY2026 Environmental, Social and Governance (ESG) assessment conducted by NSE Sustainability Ratings & Analytics Limited. The Company achieved an overall ESG score of 71, including an Environment score of 79, Governance score of 75 and Social score of 63, reflecting its continued focus on sustainable business practices, stakeholder welfare and strong corporate governance.

The assessment highlighted the Company’s environmental performance, including greenhouse gas emissions from direct operations and energy consumption that are below industry averages, significantly lower energy and waste intensity compared to peers, and strong waste recycling and recovery practices.

On the social front, the assessment recognised the Company’s focus on employee well-being and workplace safety, including a lost-time incident rate of zero, no employee fatalities during the year, and 100% employee coverage under health and safety training. The assessment also noted a balanced workforce, with women accounting for 36.69% of employees, and customer complaint frequency below relevant benchmarks.

The governance assessment recognised Canara HSBC Life Insurance’s robust oversight framework, including Board independence levels exceeding regulatory requirements, strong independent representation across key Board committees, and comprehensive anti-corruption and sustainability governance policies.

Anuj Mathur, MD & CEO, Canara HSBC Life Insurance, said, “Being recognised in the ‘Leader’ category is a strong affirmation of our belief that sustainable growth and responsible business practices go hand in hand. At Canara HSBC Life Insurance, ESG is not a standalone agenda but an integral part of how we create long-term value, manage risk, strengthen stakeholder trust and build organisational resilience. As we continue to grow, we remain committed to embedding these principles across our business and delivering meaningful outcomes for our customers, employees, shareholders and communities.”

The FY2026 ESG assessment was conducted by NSE Sustainability Ratings & Analytics Limited using a structured, sector-specific framework that evaluates companies across environmental, social and governance parameters. The assessment considers an organisation’s performance, policies, disclosures, governance practices and management of material ESG risks and opportunities. It is based on publicly available information, including annual reports, Business Responsibility and Sustainability Reports (BRSR), stock exchange filings, company disclosures and other public sources, and benchmarks companies against relevant industry peers.

About Canara HSBC Life Insurance

Incorporated in 2007, Canara HSBC Life Insurance Company Limited is a public listed company co-promoted by Canara Bank (36.5%) and HSBC Insurance (Asia-Pacific) Holdings Limited (25.5%), with the remaining shareholding held by public shareholders, including Punjab National Bank (13%). As a bancassurance-led insurance company with its corporate office at Gurugram, Haryana and 107 branch offices as of September 30, 2026, pan India, Canara HSBC Life brings together the trust and market knowledge of public and private banks.

For more than 18 years now, Canara HSBC Life Insurance has sold insurance products to customers through multiple channels and a well-diversified network of Canara Bank, HSBC Bank and its other bancassurance partners located in multiple Tier 1, 2 and 3 cities across the country. Canara HSBC Life Insurance has a vast portfolio of life insurance solutions and offers various products across individual and group spaces comprising of life, term plans, retirement solutions, credit life and employee benefit segments through partner banks and digital channels.

With an aim to provide simpler insurance and faster claim process, Canara HSBC Life Insurance intends to keep the promises of their customers alive with their ‘Promises Ka Partner’ philosophy.

For further press queries email us on prateek.sharma@canarahsbclife.in

 

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