The Latin America, Middle East and Africa Extended Reality Market would witness market growth of 35.7% CAGR during the forecast period (2022-2028).
High-quality XR is getting easier to obtain. All in One kits (AIOs) are being bought by customers to experience XR, including virtual training, remote learning, and immersive gaming. In addition, large businesses are integrating XR into their design and workflow processes. A digital twin greatly improves the execution of design using XR. Cloud-based XR streaming over 5G is one of the most significant technologies at the moment.
This does away with the need to restrict experiences to particular settings or to workstations. People can utilize XR devices and acquire the computing capacity to perform XR interactions from a data center, regardless of place or time, by streaming via 5G from the cloud. Furthermore, immersive streaming is becoming more widely available owing to cutting-edge technologies like NVIDIA CloudXR, enabling more XR users to experience high-fidelity settings everywhere.
AR is also spreading more widely. After "Pokémon GO" became well-known, AR spread to several other consumer-focused industries. For example, users could add filters to their faces on several social media sites. In addition, retail businesses have integrated AR to display 3D objects rendered with photorealism, allowing customers to position the products in space and imagine them in any setting.
The Dubai Industrial Strategy aims to make Dubai a worldwide platform and preferred location for international corporations seeking growth and sustainability. The focus is on developing some major industries like the aerospace, food & beverage, maritime, medical equipment, aluminum & fabricated metals, as well as machinery & equipment sectors to entice foreign companies to work in the nation. The strategy is expected to boost the economy and provide job opportunities. The industries selected would directly contribute to Dubai's goal of becoming the hub of the Islamic economy. The initiatives and expected future demand will both directly and indirectly benefit the industrial sector.
The Brazil market dominated the LAMEA Extended Reality Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,944.8 million by 2028. The Argentina market is experiencing a CAGR of 36.4% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 35.3% during (2022 - 2028).
Based on Component, the market is segmented into Hardware, Software and Services. Based on Technology, the market is segmented into Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR). Based on End User, the market is segmented into Gaming, Aerospace & Defense, Manufacturing & Industrial, Healthcare, Education, Retail, Media & Entertainment and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Extended Reality Market is Projected to reach USD 161.6 Billion by 2028, at a CAGR of 29.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Meta Platforms, Inc. (Facebook), Sony Corporation, Microsoft Corporation, Google LLC (Alphabet Inc.), Accenture PLC, Qualcomm Incorporated (Qualcomm Technologies, Inc.), HTC Corporation, Unity Software, Inc., Adobe, Inc., and SoftServe, Inc.
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