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Extended Reality (XR) Market to Grow by USD 1.04 Trillion (2024-2028), Driven by Advances in Sensor Technology, with AI Impacting Market Trends – Technavio

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NEW YORK, Dec. 2, 2024 /PRNewswire/ — Report on how AI is redefining market landscape -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..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (VR, AR, and MR), Component (Hardware and Software and services), and Geography (North America, APAC, Europe, South America, and Middle East and Africa)

Region Covered

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

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.

Key Market Trends Fueling Growth

The integration of 5G technology into extended reality (XR) applications brings significant advantages. With high bandwidth and low latency, 5G enables the use of AR in live, outdoor environments and facilitates cloud-based gaming. A reliable 5G subscription is necessary for effective cloud gaming. The lower latency of 5G networks compared to previous generations is crucial for XR applications, ensuring real-time responsiveness for seamless experiences. Vendors like Qualcomm and Samsung collaborate with telecom providers offering 5G technology. By 2025, global 5G deployment is predicted. XR applications, such as remote collaboration and training, benefit from 5G’s capabilities, accelerating the growth of the XR market. 

XR technology, which includes Virtual Reality (VR) and Augmented Reality (AR), is revolutionizing various industries. The market for XR devices and content is growing rapidly, with VR headsets and AR glasses leading the way. The gaming industry is a major driver, with XR games and simulations becoming increasingly popular. The healthcare sector is also adopting XR for training programs, simulations, and virtual meetings, addressing health concerns such as myopia and enabling remote surgeries. In the hospitality industry, XR is enhancing customer experience through virtual tours and interactive menus. The software segment, including 5G technology, is crucial for delivering high-quality XR content to users. Mixed reality is expected to gain traction in retail stores, while 5G users will benefit from improved internet connectivity and processing capability distribution. Doctors and contemporary healthcare institutions are exploring XR for medical training and virtual realities to treat target organs. The entertainment industry and online gaming are also embracing XR technology, making it an exciting time for this innovative technology. 

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Market Challenges

ai_dominating_segment_factor_newThe Extended Reality (XR) market is experiencing rapid growth with applications in various sectors like virtual meetings, online gaming, and contemporary healthcare institutions. However, challenges persist. Internet connectivity and gaming equipment accessibility remain key issues for virtual meetings and online gaming, particularly in developing regions. In the medical sector, doctors and surgeons require target organs identification in real-time during virtual realities, which demands high processing capability distribution. 5G technology is a game-changer, enabling real-time, experiences for 5G users in 5G operations. Mobile XR and solo headsets dominate the consumer market, while tethered VR headsets cater to professional services and industrial training. E-commerce, entertainment, construction, retail and e-commerce, transportation, and industrial and manufacturing sectors also leverage XR. Augmented reality technologies, such as live broadcast, virtual projects, and cast, are transforming industries like education, festivals, television presentations, and corporate events. Cloud VR-based technology and program developers are essential for the growth of XR studios. NFTs and advanced human-machine interfaces are the future of XR, with gaming companies leading the charge in the multi-dimensional Web 3.0.

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Segment Overview 

This extended reality (xr) market report extensively covers market segmentation by

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- The Extended Reality (XR) market refers to the technology that blends real and virtual worlds. It includes Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR). Companies like Microsoft, Google, and Facebook are investing heavily in this space. XR applications span across industries such as gaming, education, healthcare, and manufacturing. The market is expected to grow significantly due to increasing demand for interactive and experiences. Businesses can leverage XR to enhance customer engagement, improve training programs, and streamline operations.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Extended Reality (XR) market is experiencing exponential growth, transforming various sectors with its technologies. Virtual meetings are revolutionizing the way we connect, enabling remote collaborations in real-time. Online gaming is reaching new heights with XR devices, offering more interactive and engaging experiences. Internet connectivity and gaming equipment are essential prerequisites for XR technology, ensuring seamless and uninterrupted access to XR content. In the healthcare sector, doctors and contemporary healthcare institutions are leveraging XR for training and surgeries, allowing for more precise targeting of organs and minimally invasive procedures. Virtual realities and augmented reality are revolutionizing education, providing students with learning experiences and simulations. 5G technology and XR technology are synergistic, with the former providing the necessary speed and bandwidth for the latter. XR devices and XR content are driving demand, with games and training programs being the most popular applications. The entertainment industry and gaming industry are leading the charge, while the education industry is quickly catching up.

Market Research Overview

Extended Reality (XR), encompassing virtual reality (VR), augmented reality (AR), and mixed reality, is revolutionizing various sectors with its experiences. Virtual meetings allow remote collaboration in contemporary healthcare institutions, enabling doctors and surgeons to plan target organ surgeries in virtual realities. Students in the medical sector can learn through interactive simulations and training programs. In the entertainment industry, XR is transforming online gaming with advanced human-machine interfaces and ultra-high-resolution VR glasses. 5G technology and processing capability distribution empower 5G users to enjoy XR operations in mobile and solo headsets. E-commerce and retail are leveraging XR for virtual projects, live broadcasts, and shopping experiences. Construction, transportation, industrial and manufacturing, festivals, television presentations, corporate events, professional services, and XR studios are also embracing XR technologies. Augmented reality technologies, such as NFT and AR in retail stores, are redefining consumer experiences. The software segment, including program developers and cloud VR-based technology, is fueling the growth of XR content in education, industrial training, and healthcare. The future of XR is multi-dimensional, merging the physical and digital worlds for a Web 3.0 experience.

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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Victory Live Named Official Data and Analytics Provider of the Capital One Orange Bowl

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Partnership provides ticketing technology and analytics support ahead of the 2027 College Football Playoff Semifinal

ATLANTA, Oct. 19, 2026 /PRNewswire/ — Victory Live, a leader in ticketing technology and analytics, today announced a partnership with the Orange Bowl to serve as the Official Data and Analytics Provider of the Capital One Orange Bowl.

Under the agreement, Victory Live will provide ticketing data and analytics tools to support the Orange Bowl’s operational planning and ticketing strategies.

The Capital One Orange Bowl is scheduled to host a College Football Playoff Semifinal on Thursday, Jan. 14, 2027, at Hard Rock Stadium.

“The Orange Bowl has a proud history in college football and a lasting impact on South Florida,” said Sam Soni, founder and CEO of Victory Live. “We look forward to supporting the organization with technology and data insights to assist their ticketing operations. With a College Football Playoff Semifinal ahead, this is an exciting opportunity to work together on an event that means so much to fans and the community.”

About Victory Live

Founded in 2021 by Sam Soni, Victory Live is a technology platform specializing in sports and entertainment event management, ticketing software, data insights, and multi-channel distribution. Its end-to-end solution, Victory Live One, helps manage millions of tickets for live event rightsholders and ticket sellers across sports, concerts, and theatre. Victory Live’s marketplace is the industry leader in B2B ticket distribution and connectivity solutions. Learn more at www.victorylive.com. 

Press Contact:

Eric Nemeth
nemeth@ericpr.com
www.victorylive.com/

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SOURCE Victory Live

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Eastern Michigan University offers $4,000 scholarships to students who join marching band

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YPSILANTI, Mich., Oct. 19, 2026 /PRNewswire/ — Eastern Michigan University is offering eligible students a $4,000 scholarship to join the university’s Marching Band, giving students the opportunity to participate in one of EMU’s signature traditions while pursuing any academic major.

The scholarship provides $1,000 per year for four years and is available to all students who meet the marching band requirements. Students do not need to major in music to qualify.

“I’m thrilled that President Kelly and the executive leadership team have elected to pursue this opportunity at Eastern because it gives us an opportunity to attract more students and reward them for the countless hours they spend participating in a life-changing activity that they love,” said J. Nick Smith, associate director of bands and director of Athletic Bands at Eastern.

EMU’s Marching Band reflects the university’s broad academic community. Only about 40% of its members are music majors, while students in disciplines across the university make up the rest of the membership.

“As a two-time alum, I’m proud of our band and its continuous momentum over the years,” said EMU President Brendan Kelly. “EMU’s college experience is about finding and building community — that’s what our marching band is all about. I’m thrilled we can offer this scholarship to students who want to be a part of a movement they’ll remember and be proud of among people with shared interests for the rest of their lives.”

Known as the “Pride of the Peninsula,” EMU’s Marching Band has a 132-year history and provides students with opportunities to perform at athletic events and other university and community events. The ensemble also offers diverse musical and performance experiences, including collaborations with groups such as internationally known piano-rock duo and EMU alumni Drew & Kin and Grammy Award-winning artists such as The Temptations, featuring EMU alum Jawan M. Jackson, who joined the group in 2022.

Participation in the band also provides students with experiences that extend beyond the field.

“Students who participate with us develop deep ties to their education, lifelong friends, lessons in leadership, professionalism, time management, high expectations and advanced musicianship and marching skills,” said Smith. “We pride ourselves on providing our students life-changing experiences that develop their core being so that, upon graduation, they have a diverse set of skills that are immediately applicable to their careers.”

Students interested in joining the EMU Marching Band and applying for the scholarship should:

Apply to and be admitted to Eastern Michigan University: emich.edu/apply/Complete the marching band membership form: https://tiny.emich.edu/emumbAttend orientation and register for marching band.Receive the scholarship through their financial aid package once all requirements are completed.

The scholarship is available to students regardless of their intended major. For more information about the EMU Marching Band and scholarship opportunities, visit the band webpage. To view the band’s past performances, visit the band’s YouTube page.

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SOURCE Eastern Michigan University

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Green Ammonia Market to Reach USD 5.10 Billion by 2035 as Renewable Hydrogen Contracts Support New Production

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LONDON, Oct. 19, 2026 /PRNewswire/ — The global green ammonia market was valued at USD 150.8 million in 2025 and is projected to reach USD 5.10 billion by 2035, according to Credence Research. The report states a 42.22% compound annual growth rate for 2025-2035. Asia Pacific held the largest regional share at 60.2% in 2025, while Latin America is the fastest-growing region at a modeled 54.11% annual rate. Market sizes, segment shares and regional allocations are Credence Research estimates.

Key Takeaways

Credence Research estimates market value at USD 150.8 million in 2025 and USD 5.10 billion by 2035, with a reported 42.22% CAGR for 2025-2035.Asia Pacific held 60.2% of modeled 2025 value. Latin America has the fastest forecast regional growth at 54.11%.Alkaline water electrolysis represented 73.6% of 2025 technology value.Fertilizers accounted for 68.3% of 2025 application revenue, the largest end use.Solid oxide electrolysis has the highest modeled technology growth at 63.37% annually, from a small base.Marine fuel is projected to grow fastest among applications, but its starting commercial base remains limited.

Scope & Segmentation – Green Ammonia Market

The market measures the selling value of ammonia made with electrolytic hydrogen powered by renewable electricity, including relevant renewable output from retrofitted fertilizer plants. It covers fertilizer, chemical feedstock, power and prospective marine fuel uses. It excludes conventional ammonia, blue ammonia made with fossil hydrogen and carbon capture, stand-alone electrolyzers, renewable generation equipment and downstream fertilizer products beyond the contained ammonia value.

By technology: Alkaline water electrolysis; Proton exchange membrane electrolysis; Solid oxide electrolysis.By application: Fertilizers; Industrial and chemical feedstock; Power generation; Marine fuel; Other uses including hydrogen carriers and refrigeration.

Read the full report and request a sample: https://www.credenceresearch.com/report/green-ammonia-market      

Why This Report Matters

Developers can separate announced electrolyzer capacity from renewable ammonia that has a committed buyer and a credible delivery schedule.Fertilizer companies and importers can evaluate the commercial importance of certification, fixed-price contracts and renewable electricity availability.Investors can assess why some projects advance with binding offtake while others remain exposed to cost gaps, policy changes and financing delays.

Market Overview

Green ammonia is produced using hydrogen generated from water electrolysis powered by renewable electricity, followed by conventional ammonia synthesis. It can serve fertilizer and chemical demand without changing the basic molecule, but production costs and emissions depend on the power supply and plant operation.

Early commercial output is concentrated in China and a small number of European plants. Indian supply contracts and international offtake agreements are expanding the project pipeline. Marine fuel is a longer-term opportunity, with demand dependent on vessel technology, bunkering infrastructure and shipping regulation.

Market Insights

Alkaline water electrolysis represented 73.6% of 2025 technology value.Fertilizers accounted for 68.3% of 2025 application revenue, the largest end use.Solid oxide electrolysis has the highest modeled technology growth at 63.37% annually, from a small base.Marine fuel is projected to grow fastest among applications, but its starting commercial base remains limited.Asia Pacific represented 60.2% of 2025 value, reflecting early Chinese plant output and demand.

Key Attributes

Attribute

Details

Historical reference

2018-2025 (source report)

Base year

2025

Market size, 2025

USD 150.8 million

Market size, 2026 (source estimate)

USD 415.2 million

Market size, 2035

USD 5.10 billion

Reported CAGR and measurement interval

42.22% (2025-2035)

Largest regional share

Asia Pacific (60.2%, 2025)

Fastest-growing region

Latin America (54.11%)

Segments covered

Technology, Application

Geographic coverage

North America, Europe, Asia Pacific, Latin America, Middle East and Africa

Market Segmentation

The segmentation below follows the current report taxonomy and separates products, applications and buyers to avoid overlapping revenue definitions.

By technology: Alkaline water electrolysis; Proton exchange membrane electrolysis; Solid oxide electrolysis.By application: Fertilizers; Industrial and chemical feedstock; Power generation; Marine fuel; Other uses including hydrogen carriers and refrigeration.

Market Drivers

Fertilizer producers can reduce reliance on fossil-based hydrogen by purchasing certified renewable ammonia or replacing a portion of their own feedstock. Long-term supply contracts can make the economics more predictable for producers and buyers.

Large renewable energy resources and improving electrolyzer supply support new plants in China, India and prospective export hubs. Project economics still depend heavily on utilization and electricity costs.

Cross-border contracts create a clearer financing route than nonbinding project announcements. Importers that require renewable fuel certification can anchor investments in production and shipping logistics.

Regional Analysis

The following regional shares represent Credence Research estimates of 2025 market value. They are not independently audited supplier sales totals.

Asia Pacific | 60.2% share in 2025

Operating Chinese plants and Indian fertilizer procurement programs underpin the largest base. Japan and South Korea are potential import markets for certified supply.

Europe | 26.7% share in 2025

Pioneer projects and stringent certification requirements support premium demand, while high energy costs encourage some buyers to seek imports.

Middle East and Africa | 8.0% share in 2025

Saudi Arabian and other coastal projects seek to pair renewable power with export infrastructure, but project schedules remain important.

North America | 3.3% share in 2025

Electrolytic ammonia remains a small share of supply, with some producers favoring carbon capture on conventional plants.

Latin America | 1.8% share in 2025

Chile and Brazil have strong renewable resources and potential fertilizer or export demand, producing the fastest modeled regional growth from a small base.

Market Challenges

Renewable ammonia generally costs more to produce than conventional ammonia. Intermittent wind and solar power complicate operation of the synthesis loop and can require storage or grid balancing.

Many proposed projects lack binding buyers, permitting or funding. Uncertain global shipping rules can delay marine-fuel demand, so developers often prioritize fertilizer and chemical customers first.

Future Outlook

The strongest near-term projects are likely to be those with verified renewable electricity, certification and binding offtake. China remains an early production center while India and Gulf projects could expand exports later in the decade.

Marine fuel demand may eventually diversify the customer base, but the timeline is uncertain. Investors should distinguish operating tonnage from proposed capacity and account for power variability, shipping costs and policy risk.

Competitive Landscape

Envision Energy, State Power Investment Corporation and China Energy Engineering are linked to operating Chinese renewable ammonia projects. AM Green, ACME Group and NEOM Green Hydrogen Company are export developers, while Yara and Iberdrola participate in European pioneer projects. Air Products is a NEOM co-owner and contracted offtaker, not simply an independent ammonia producer. Fortescue is excluded from the active producer list because it canceled selected hydrogen projects in 2025. No reliable comparable company-by-company green ammonia revenue ranking is available.

Key Players

Envision EnergyState Power Investment CorporationChina Energy EngineeringAM GreenACME GroupNEOM Green Hydrogen CompanyYara InternationalIberdrolaAir Products (offtaker and co-owner)

Recent Developments

Feb. 27, 2026: Envision announced a commercial shipment of green ammonia from its Chifeng facility in China to LOTTE Fine Chemical in South Korea. The company described the cargo as an end-to-end renewable ammonia delivery.

Jan. 12, 2026: Uniper and AM Green signed a binding long-term agreement for up to 500,000 metric tons a year of certified renewable ammonia from India, with initial deliveries expected from 2028.

Report Coverage

The study analyzes market size, the base-year product and application mix, regional demand, technology adoption, competitive positioning, constraints and dated industry developments. It also examines commercialization, customer economics and the factors that could change the pace of adoption through 2035.

Forecasts and regional shares are proprietary Credence Research model estimates. Company announcements and regulatory materials are used for industry context; they do not independently validate the modeled global revenue totals. The report’s market definition and exclusions should be considered when comparing it with broader adjacent industries.

Read the full report and request a sample: https://www.credenceresearch.com/report/green-ammonia-market

Related Reports

Green Hydrogen MarketBlue Ammonia MarketRenewable Methanol MarketSustainable Aviation Fuel MarketHydrogen Storage Market

About Us

Credence Research Inc. is a global market intelligence and consulting firm founded in 2015. It provides quantitative market research, competitive intelligence and strategic advisory services to organizations assessing new products, investment decisions and regional opportunities. The firm combines primary and secondary research with industry interviews and structured market models.

Its research spans industrial technology, semiconductors, energy, health care, consumer markets and other sectors. Credence Research evaluates market size, segmentation, growth drivers, supply-chain risks, regional policy and competitive positioning to help clients make evidence-led decisions.

Contact Us

Credence Research Inc.
Tower C-1105, S 25, Akash Tower
Vishal Nagar, Pimple Nilakh, Haveli
Pune – 411027, India
Europe: +44 7453 598 606 | North America: +1 6282 627 656
Email: sales@credenceresearch.com

Website: Credence Research

 

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