COVID-19 Impact Seen Pushing Adoption of XR Collaboration Tools, Says ABI
The market for augmented- and virtual-reality collaboration tools, known collectively as extended reality (XR), will exceed $400 million by 2025, up from less than $12 million last year, said ABI Research Wednesday. Heightened interest and demand during the pandemic are…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
expected to accelerate adoption of XR and increase growth rates of established markets such as videoconferencing hardware, seen approaching $4 billion by 2025, from $2.4 billion in 2019. Companies including Facebook have amended work from home policies that provide early glimpses into what a “new normal” could look like in the workplace, noted analyst Michael Inouye. The communications market “was already shifting to support a wider breadth of devices, services, and environments and the pandemic has accelerated these trends,” said Inouye. Cancellation of industry events and the inability to meet in person has driven demand for video calling services and tools and is "opening new doors and exposure to more immersive solutions like XR,” he said. The XR market is more nascent and diverse than the video conferencing space where Cisco leads and Logitech is making inroads, said the analyst. Architecture, engineering, construction and manufacturing are early adopters, and the market is undergoing significant development, with over 40 companies offering different approaches, he said.