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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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SOURCE Technavio

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Department of Health – Abu Dhabi and Fred Hutchinson Cancer Center collaborate on cancer research and personalized prevention

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ABU DHABI, UAE, May 13, 2026 /PRNewswire/ — The Department of Health – Abu Dhabi (DoH), regulator of the healthcare sector in the emirate, together with the Abu Dhabi Public Health Center (ADPHC), today announced the execution of a Memorandum of Understanding (“MOU”) with Fred Hutchinson Cancer Center (Fred Hutch), one of the world’s leading cancer research institutions and home to three Nobel laureates.

By pairing Abu Dhabi’s unified clinical and genomic data infrastructure, sovereign AI capabilities and governed data environments with Fred Hutch’s globally renowned research engine, the ensuing collaborations will pave the way to shortening the distance between scientific discovery and patient benefit, for Abu Dhabi’s community and beyond.

Among the projected collaborations, the two organizations will consider leveraging Abu Dhabi’s intelligent health system, and layering Fred Hutch’s world-class science onto the secure, high-quality, real-world data foundation Abu Dhabi has built. That foundation includes the emirate’s pioneering liquid biopsy programme launched last year, one of the first national-scale efforts of its kind anywhere in the world. Alongside Abu Dhabi’s AI multi-cancer early detection work, and the world’s largest clinically integrated population-scale genomics programme – with nearly one million genomes sequence.

During his visit to the center, HE Mansoor Ibrahim Al Mansoori, Chairman of DoH commented: “Cancer is one of the defining health challenges of our time, and progress depends on combining world-class science with population-scale data, advanced AI, and research. In Abu Dhabi, we have built an AI-enabled health system that ‘cares before it cures, delivering prevention at population scale. We are already achieving some of the highest early cancer detection rates in the world, and through our partnership with Fred Hutchinson Cancer Center we are committed to bringing breakthroughs to people in Abu Dhabi and beyond.”

“This MOU between Fred Hutch Cancer Center and the Abu Dhabi Department of Health underscores the power of working together to prevent and treat cancer,” said Thomas Lynch Jr., MD, president and director of Fred Hutch and holder of the Raisbeck Endowed Chair. “Our organizations share a deep commitment to research and to provide the highest levels of cancer prevention, diagnosis and care to our communities, and we are excited to bring our expertise, tools and datasets together to identify unique approaches to cancer care and research in pursuit of our boldest goals.”

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SOURCE The Department of Health – Abu Dhabi

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L’Mychele & Associates Founder LaKessia Hill Completes North Texas FWC Hospitality Program (FIFA World Cup) and Appears on The Jeff Crilley Show

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DALLAS, May 13, 2026 /PRNewswire/ — L’Mychele & Associates LLC is proud to announce two significant milestones for the growing strategic meetings and events firm: Founder & CEO LaKessia Hill has successfully completed the North Texas FWC Organizing Committee’s Hospitality Program and was recently featured on The Jeff Crilley Show.

These accomplishments reflect the company’s continued momentum within the hospitality, tourism, and events industries as L’Mychele & Associates expands its presence through strategic partnerships, leadership engagement, and elevated client experiences.

The completion of the North Texas FWC Hospitality Program further strengthens the company’s commitment to delivering intentional, guest-centered experiences rooted in strategy, hospitality, and meaningful connection — values that are central to the L’Mychele & Associates brand.

In addition, Hill recently joined veteran journalist and media personality Jeff Crilley on The Jeff Crilley Show to discuss her entrepreneurial journey, the vision behind L’Mychele & Associates, and the company’s approach to creating experiences as bold as its clients’ goals.

“Both opportunities represent growth, visibility, and the continued evolution of our brand,” said Hill. “Hospitality is more than service — it’s about creating intentional moments that leave lasting impressions. Being recognized through the hospitality program and having the opportunity to share our story on The Jeff Crilley Show were both incredibly meaningful experiences.”

Known for its consultative and strategy-first approach, L’Mychele & Associates specializes in executive summits, conferences, nonprofit galas, incentive experiences, corporate meetings, and curated social gatherings. The firm partners with organizations, brands, and leaders to transform ideas into impactful experiences through strategic planning, management, and execution.

Guided by the company’s signature philosophy — “The Art of Listening. The Science of Execution.” — L’Mychele & Associates continues to position itself as a strategic partner within the meetings, events, and hospitality industries.

The episode of The Jeff Crilley Show featuring LaKessia Hill is now available across multiple platforms, including YouTube, Facebook, LinkedIn, and Transistor.

About L’Mychele & Associates LLC

L’Mychele & Associates LLC is a Dallas-based strategic meetings and events firm specializing in executive summits, corporate meetings, conferences, nonprofit events, incentive experiences, and curated social gatherings. The company is known for blending strategy, hospitality, and execution to create experiences that drive connection and lasting impact.

Media Contact

LaKessia Hill
Founder & CEO, L’Mychele & Associates LLC
469-402-7825

LaKessia@LMychele.com
www.LMychele.com  

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SOURCE L’Mychele & Associates LLC

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HBX GROUP ANNOUNCES HALF YEAR 2026 FINANCIAL RESULTS

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LONDON, May 13, 2026 /PRNewswire/ — HBX Group International plc (HBX Group, the Company, the Group, HBX.SM) announces its Half Year 2026 results for the six months ended 31 March 2026.  

TTV up +17% to €3.8bn, and Revenue of €309m, up +1% YoY at constant currency, reflecting targeted commercial and strategic actions to prioritise growth and capture market share, partly offset by disruption from the Middle East conflictAdjusted EBITDA up +9% at constant currency to €163m, with margin of 53% expanding +4ppts in constant currency. Profit after tax was €28m (H1 25: €(227)m).Strong cash generation with 103% cash conversion and leverage at 1.7x Adjusted Net Debt / Adjusted EBITDA. S €100m share buyback programme and a 7.5 cents per share (c.€18m) interim dividend.Executing the strategic building blocks, including the acquisition of Bridgify announced today.FY26E guidance revised to reflect the impact of Middle East conflict and macroeconomic uncertainty. New FY26 guidance is for constant currency TTV growth +11% to +15%, Revenue growth -4% to +1% and Adjusted EBITDA growth -5% to -2%, and Operating Free Cash Flow conversion between 90% and 100%. Medium-term guidance is unchanged.

First half 2026 Financial Performance Summary1

6 months
ended 31
March 2026

6 months
ended 31
March 2025

Change
constant
currency2

Change 

Total Transaction Value (TTV) (€m)

3,770

3,370

+17 %

+12 %

Revenue (€m)

309

319

+1 %

-3 %

Adjusted EBITDA (€m)

163

159

+9 %

+3 %

Delivering profitable growth

Group TTV increased to €3.8bn in the first half, up +17% at constant currency. TTV contribution increased from shorter lead-time bookings, Third Party Supply and Online Travel Agents.

Revenue of €309m, increased +1% in constant currency. Take rate was 8.2%, down 1.3ppts year‑on‑year.

Adjusted EBITDA increased 9%, with margin +4ppts.

Net finance costs were €35m, 77% lower than the prior year. The tax charge was €16m. Adjusted Earnings were €83m, up +44% at constant currency.

Delivering commercial milestones in line with strategy

Commercial progress in H1 2026 reflected HBX Group’s strategy to expand its global travel ecosystem and drive profitability through AI-driven operational efficiency and commercial performance. Key developments included new distribution partnerships in Asia-Pacific, acquisitions such as Bridgify and PerfectStay to strengthen experiences and dynamic capabilities, and new platform and fintech initiatives.

HBX group also continued embedding AI across products and operations, including AI-powered solutions for Bedsonline and HotelTech, while scaling internal AI agents already delivering measurable savings and supporting more than 120 identified use cases, reinforcing the Group’s connected B2B travel ecosystem strategy.

Regional performance and trading dynamics

TTV grew in double-digits in all three regions, up +18% in the Americas and +16% in both MEAPAC and Europe, at constant currency.

In Europe, TTV growth was supported by strong intra‑regional and domestic travel. Asia Pacific up +18%, partly offset by slower growth in the Middle East and disruption on some Europe-Asia corridors. In the Americas, TTV was predominantly driven by domestic demand.

Middle East impact and near‑term outlook

Since late February, the escalation of the conflict in the Middle East has impacted travel demand across affected destinations and selected international corridors, resulting in increased volatility, shorter booking windows and reduced near‑term visibility. The impact of this on H1 Group TTV growth was approximately 1ppt.

HBX Group implemented dynamic pricing, inventory reallocation and active partner support. Demand outside affected corridors has been more resilient.

Cost discipline, cash generation and capital allocation

Underlying operating costs fell by 5%. Performance was supported by productivity initiatives, automation and AI.

On a last 12-month basis, Operating Free Cash Flow was €447m, with cash conversion of 103% over the last 12 months. Adjusted Net Debt at 31 March 2026 stood at €741m.

Outlook

The Group started FY26 with strong performance. Since late February, trading conditions have been adversely impacted by the escalation of the conflict in the Middle East and broader geopolitical uncertainty.

The Group has revised its FY26 guidance. Updated outlook reflects a -4ppt effect of the Middle East conflict on TTV growth. Assumes four months of disruption with gradual stabilisation.

For the complete press release and disclaimer applicable to this information, please visit www.investors.hbxgroup.com

1 See financial statements for definitions of specific financial terms and KPIs, including any Alternative Performance Measures (APMs)
2 Constant currency changes exclude the impact of foreign exchange rate fluctuations by translating current year results at the exchange rates used in the prior year.

Contact: 
Clara Truyols
clatruyols@hbxgroup.com 

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SOURCE HBX Group

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