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Global market spend on extended reality (XR) technologies 2018-2023, by industry

As projected in a 2019 report, the business uses of extended reality (XR) technologies worldwide will increase across all industries from 2018 to 2023, with forecasts estimating that in 2023, 35 billion U.S. dollars will be spent on these technologies by the manufacturing and construction industry alone.
A common misconception is that virtual reality (VR) and augmented reality (AR) are limited to the gaming and entertainment industries. However, this is beginning to change, with experts finding that during 2019, industrial spending on XR technologies overtook consumer spending. By 2023, analysts have suggested that industrial usage will be three times larger than that of consumers, with the uses of XR technologies widening and developing further as businesses realize the full potential.

Market spending on extended reality (XR) technologies worldwide from 2018 to 2023, by industry

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Sources

Release date

May 2019

Region

Worldwide

Survey time period

2018 to 2019

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Statistics on "Virtual reality (VR)"

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