Trends in the XR Industry for 2024
January saw key announcements at CES 2024 that are set to impact the enterprise XR market, showcasing the dynamic advancement of the XR field. After a strong performance in 2022, 2023 saw a slowdown, but 2024 is shaping up to be a busier year. Major computing companies like Apple are entering the XR device market, signaling a new wave of AR/VR/MR investments and deployments. This entry is expected to serve as a catalyst for further growth and innovation in the field.
Opinions of Industry Leaders
XR today invited leading industry panelists to provide insights on the evolving XR landscape. The discussion featured experts such as Kevin O’Donovan, Jay Latta, Amy Peck, Samantha Tauber, Leticia Boschud, and Satyamruth Uttarkabat, who reflected on trends from 2023 and shared their outlook for 2024. They highlighted how the application of XR technology in fields like architecture and the potential resurgence of interest in the metaverse are creating new opportunities for the industry.
Generative AI’s Impact on XR
In 2023, generative AI (GenAI) emerged in the creative field, influencing the enhancement of XR products and opening new possibilities for integration into XR workflows. Experts emphasized that the fusion of technologies like AR and GenAI is fundamental to the future of business and creativity. While there was initial concern that GenAI might overshadow XR, the industry quickly recognized its potential and saw it as an opportunity to enrich XR applications.
Expected Impact of Apple Vision Pro
Amy Peck pointed out that while the release of the Apple Vision Pro is significant, it is not the only defining moment for XR in 2023. This device is seen as an important step in the technological evolution of XR, bringing consumers sophisticated hardware and signaling a shift toward enhanced mixed reality experiences. Meta’s Quest 3, with its impressive features, also highlights the industry’s move toward interoperability and standardization.
Trends in XR in the EU and India
The EU and India are promoting XR through efforts to standardize development and encourage enterprise-level adoption. The European Commission’s initiatives on metaverse regulation and India’s focus on education and mental well-being in XR use cases are signs of a broader global trend calling for the widespread adoption of XR technology. These advancements point to a promising future for XR innovation and integration across diverse sectors and regions.
