XR/AR/VR/MR market size 2021-2028

The global augmented reality (AR), virtual reality (VR), and mixed reality (MR) market reached 28 billion U.S. dollars in 2021, rising to over 250 billion U.S. dollars by 2028.

Augmented reality (AR)

Augmented reality (AR) technology integrates digital information with the physical environment, live and in real-time. Through the addition of graphics, sounds, haptic feedback, or even smell to the natural world as it exists, AR can combine real life with a super-imposed image or animation using the camera on a mobile device or AR headset. As part of the wider extended reality (XR) industry, the global AR market size is expected to grow considerably in the coming years.

Metaverse

Regarded as the next iteration of the internet, the metaverse is where the physical and digital worlds come together. As an evolution of social technologies, the metaverse allows digital representations of people, avatars, to interact with each other in a variety of settings. Whether it be at work, in an office, going to concerts or sports events, or even trying on clothes, the metaverse provides a space for endless, interconnected virtual communities using virtual reality (VR) headsets, AR glasses, smartphone apps, or other devices.