xReality Group Limited (XRG) specialises in building and operating immersive XR products and experiences that enhance lives. xReality Group’s portfolio includes physical and digital simulation used across the enterprise, defence and consumer markets. Using technology we create experiences without the physical limitations found in the real world.
XR stands for Extended Reality and is a catch-all term for Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR). Extended Reality combines physical and digital simulation for both consumer and enterprise market segments. The XR category is growing rapidly with the market predicted to grow from US $26B in 2020 to US $905B in 2027. Facebook’s parent, Meta, is investing $10Bn US/year alone into accelerating development of the Metaverse.
xReality Group companies include Operator XR, a Defence and Law Enforcement simulation training company, Red Cartel, an XR production company, two Australian iFLY Indoor Skydiving Facilities, and four FREAK Virtual Reality venues.
xReality Group is an Australian company that specialises in building and operating virtual reality (VR), augmented reality (AR) and physical simulation for the enterprise markets, including law enforcement, defence and consumer leisure market
The company serves both entertainment and enterprise segments both locally and internationally.xReality Group operates four major brands across the end markets including Operator XR which serves our Law Enforcement and Military markets; iFLY Downunder and iFLY Gold Coast (both entertainment and professional); FREAK Entertainment (retail market); and Red Cartel (enterprise).Operator XR is the fastest growing segment for the company, focusing on defence and law enforcement agencies across the globe. The total addressable market for Operator XR is valued at US$3.37 billion with the US accounting for nearly 40% of the total market.
Click here for the full ASX Release
This post appeared first on investingnews.com