According to Technavio, the Extended Reality (XR) Market is expected to increase by USD 1,040.6 billion, growing at a CAGR of 56.45% from 2023 to 2028. This growth is primarily driven by advancements in sensor technologies, which are enabling richer and more interactive XR experiences. The advent of 5G technology is also set to further enhance the market, providing faster data speeds and lower latency, making XR more effective across sectors such as gaming, education, and healthcare. However, the market faces notable challenges. A lack of standardized protocols and integration issues between different XR platforms pose significant barriers to wider adoption. Additionally, the high costs associated with XR hardware and software limit accessibility for many users. Nevertheless, industries such as gaming and education are expected to drive growth as they continue to seek more immersive and engaging experiences for their customers.

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