Megatrend Analysis of the XR industry


August 18, 2023



In order to shed light on the footsteps of the XR device industry, which is gradually increasing in scale with the goal of replacing wearable devices and IT devices, and to forecast the future market, XR device models and specifications released from 2018 to the first half of 2023 were analyzed. During this period, there were 327 models of XR devices and 127 companies that were investigated.

XR devices are classified into VR, MR, and AR. As for AR devices, only optical see-through (OST) products were classified as AR, and video see-through (VST), which allows viewing of the real world through a camera, were classified as MR. Since the labeling methods for MR and VR devices were mixed by the company, the fixing method was also closely investigated and referred to the device classification.

In order to analyze the trend of XR devices, it was analyzed by dividing into three types by period.
1) Latest trends of products released only in the first half of 2023
2) Overall XR device flow through analysis of products released from 1989 to 2022
3) 5-year trend between 2018 and 2022 for an accurate analysis of the current status, taking into account the company’s mergers and acquisitions, closure, etc.

Analyzing the number of models released between 1989 and 2022 by device, the XR device industry appears to have started to bloom in 2016. Most of the device models were for VR, but after the number of models released peaked in 2017, the number of new VR device models has been slowly declining. Especially since 2020 when Covid-19 started, the number of AR device models has outpaced the number of VR device models. One of the reasons for the decrease in the number of newly released VR device models is the increase in the number of MR device models. From this analysis, it seems that the XR device industry is shifting from VR to AR and MR industries from 2021.

The competitiveness of each country in the XR device industry was also analyzed. Recently, the device industry has been affected by the entire supply chain depending on the ecosystem of each country, so we looked at the countries and application fields that are leading the XR set industry. Between 2018 and 2022, the country with the highest number of vendors launching XR devices was China, with 25 vendors. The United States comes next with 20 companies, and Korea has the third largest number with 9 companies. As a result of investigating the number of companies by application field, Chinese companies have the largest number of companies that have released VR and MR products, but the number of AR companies is the number one in the United States. South Korea ranked third in AR and VR products respectively.

When analyzing the number of XR device product models, China ranked first, the US ranked second, and Taiwan ranked third.

We analyzed software companies for XR between 2010 and 2022, as well as their released products and applications. The number of software released during this period was 472, and the number of companies was 178. The increase in the number of software releases for XR started from 2016, and when 472 software were analyzed by XR type, the ratio was 66% with 311 cases for VR, and 81 cases and 80 cases for AR and VR, respectively. VR software still seems to dominate the XR software industry.

When XR type software was analyzed by country, China released the most products for VR with 177 cases. This result shows that China is leading the VR software industry. As a result of analysis by genre, game use accounted for 49% with 233 cases, industrial use with 62 cases with 13%, and entertainment with 41 cases with 9%.

When the number of software companies is analyzed by country, US companies have an overwhelming number of companies with 79. On the other hand, China, which has the most VR software releases, had only 12 companies.

1. Key Summary

2. Analyze Hot Issues
2.1 Apple’s Vision Pro will drive digital convergence
2.2 Samsung Display’s Acquisition of eMagin and the Expected Impact

3. The Value of the XR Industry
3.1 Digital convergency
3.2 From the Age of Metaverse to the Age of AI
3.3 Anticipating Human Lifestyle Changes in the 21st Century

4. What is XR and Its Industry Components
4.1 What is XR?
4.2 XR Industry Components

5. XR Devices Launching in the First Half of 2023
5.1 XR devices released in 2023
5.2 Analyzing the Specifications of XR devices Released in 2023

6. Analyzing Hardware Trends for XR
6.1 Scope and Classification
6.2 Analyze Trends in the Number of XR Device Model Releases
6.3 Analyzing Optics Trends for XR Devices
6.4 Analyzing Display Trends for XR Devices
6.5 Correlating Optics and Displays for XR Devices
6.6 Analyzing Tracking Types for XR Devices
6.7 Analyzing Power Connection Types for XR Devices
6.8 Analyzing AR Device Trends

7. Analyzing XR Device Trends Over the Last 5 Years (2018-2022)
7.1 Analyzing AR Device Trends
7.2 Analyzing MR Device Trends
7.3 Analyzing VR device trends

8. Optis Trend Analysis (2018-2022)
8.1 Optis Ratio Analysis
8.2 Analyzing Optics Trends by XR Devices
8.3 Analyzing Optis Trends by Year
8.4 Optics FoV Analysis
8.5 Optis FoV Analysis by Display

9. Analyzing Display Trends (2018 – 2022)
9.1 Analyzing Display Ratio
9.2 Analyzing Display Trends by Year
9.3 Analyzing Display Resolution

10. Analysis of Optics and Display Combinations for XR Devices (2018-2022)
10.1 Correlating the Optics and Display
10.2 Optimal Combinations for XR Devices

11. Analysis of the Numbers of XR Device Companies and Models by Country (1989-1H2023)
11.1 Analysis of the Numbers of XR Device Companies by Nation
11.2 Analyzing the Numbers of XR Device Models by Nation

12. XR Hardware National Competitiveness Analysis (2018-2022)
12.1 Analyzing the Numbers of XR Device Companies by Nation
12.2 Analyzing the Number of Model XR Devices by Nation
12.3 Competitive Analysis of XR Devices Industry in Top 5 Nations

13. Analyzing Software Trends for XR
13.1 Categorizing Software for XR
13.2 Analyzing XR Software Release Trends by Year
13.3 Analyzing Software Release Trends by Application
13.4 Analyzing Software Release Trends by Genre
13.5 Analyzing Software Release Trends by Nation
13.6 Analyzing the Number of Software Companies by Nation

14. Analyzing Software Trends for XR over the Last 3 Years
14.1 Analyzing Trends by Application
14.2 Analyzing Trends by Genre
14.3 Software by XR by Company
14.4 Analyzing Released Software by Nation

15. National Competitiveness Analysis of the Software for XR Industry (2018-2022)
15.1 Analyzing the Numbers of XR Software Companies by Nation
15.2 Analyzing XR Software Releases by Nation
15.3 Analysis of XR Software Release Companies by Nation by Genre
15.4 Top6 Software Nation Analysis

16. Top9 XR Device Manufacturers

17. Challenges and Risks in the XR Industry
17.1 The Current State of the XR Industry
17.2 Challenges in the XR Industry
17.3 Risks in the XR Industry
17.4 Success Factors for the XR Industry

18. XR Device Manufacturer Trends

19. XR Software Company Trends

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