AR/VR/XR Services 2023 Market Insights™

June, 2023


Report Summary

This report identifies key demand-side trends in the AR/VR/XR services space to assist enterprises in their AR/VR/XR journeys. It provides an overview of key trends and enterprise challenges that Avasant considers important to highlight in the AR/VR/XR services space.

Why read this Market Insights?

The increased enterprise interest in AR/VR/XR over the past year driven by the introduction of the metaverse has led to heightened conversations with service providers. Businesses sought to understand how these technologies could enhance their processes, improve productivity, and provide immersive experiences to their customers. Although the initial hype around the metaverse has subsided, organizations are now focusing on the practical applications and tangible benefits of these technologies in order to align their investments with their specific business needs and goals.

The AR/VR/XR Services 2023 Market Insights™ aids enterprises in identifying important market trends and challenges for their AR/VR/XR transformation projects.


The industry insights and recommendations presented are based on our ongoing interactions with enterprise CXOs and other key executives, targeted discussions with service providers, subject matter experts, and Avasant Fellows, along with lessons learned from consulting engagements.

Table of contents

About the report (Page 3)

Executive summary (Pages 4–7)

    • Defining AR/VR/XR services
    • Key enterprise AR/VR/XR services trends shaping the market
    • Avasant recognizes 14 top-tier providers supporting the enterprise adoption of AR/VR/XR

Demand-side trends (Pages 8–12)

    • AR/VR/XR projects are facing stagnation in production. Integration with blockchain, NFTs, and digital twins is accelerating.
    • Over 50% of enterprises are planning to boost their investments in AR/VR/XR to offer immersive virtual experiences to customers.
    • Manufacturing, healthcare, and retail are at the forefront of AR/VR/XR adoption.
    • User demand for real-time, deviceless experiences is triggering rapid advancements in the AR/VR/XR landscape.

Key contacts (Page 13)

Read the Research Byte based on this report.

Please refer to Avasant’s AR/VR/XR Services 2023 RadarView™ for detailed insights on the service providers and supply-side trends.