Metaverse Pushes Extended Reality (XR) Market Spend

The rise of always-on 5G portable devices, an explosion of edge AI adoption, a proliferation of smart manufacturing platforms, the formation of the metaverse, and a growing concentration on cybersecurity are just some of the many changes on the horizon that are indicative of a more connected, more vulnerable, and ultimately, more technology-driven world

The Extended Reality (XR) market spend will hit USD4.84 billion in 2024.

In 2024, the Extended Reality (XR) market spend will hit USD4.84 billion, up from USD630 million in 2020; 54.7% will derive from hardware, and the rest will be from software and content, reveals ABI Research in one of their report.

 ?A rich ecosystem is developing with notable innovators, such as Nreal, VIVE, and Pico, producing XR kits for consumers and businesses,? explains Jake Saunders, Vice President at ABI Research explains.

Content Delivery Network (CDN) revenue will increase from USD10 billion in 2021 to USD23.9 billion in 2030. 

For all the hype the metaverse receives around virtual worlds and assets, it is the build-up to this interconnected future where the physical and digital are merged that deserves more attention. Trends across digital media and advertising, immersive, hybrid workforces, and evolutions in technology (i.e., 5G advanced and upcoming 6G) are all coming together to change how we consume content, work, access services, and communicate. These changing markets, especially as they come together, will create tremendous demands on networks (i.e., data and ultra-low latency connections) and computational resources. ?One market that stands to benefit from this build-up to the metaverse is the CDN market,? says Michael Inouye, Principal Analyst at ABI Research.

?While there are still fundamental challenges ahead?political tumult, an entrenched endemic, and a broken supply chain?these statistics should provide insights and actionable data needed to chart a successful course in 2022 and beyond,? Carlaw concludes.

Share on

Leave a Reply

Your email address will not be published. Required fields are marked *