This week, Meticulous Research published its “Industrial Metaverse Market—Global Opportunity Analysis and Industry Forecasts to 2032”, highlighting how the industrial metaverse market is experiencing extraordinary growth, reaching roughly $48.2 billion in 2025.
The report also noted that the industrial metaverse market is expected to grow to $600.6 billion by 2032, with a compound annual growth rate of 20.5% during the 2025-2032 forecast period.
Industrial metaverse, or in short, shared RT3D immersive applications, assets, and services, are leveraged broadly in sectors such as manufacturing, transport, and oil & gas, where high-quality simulations are finding a home as a tool to save capital during complex projects and operations.
AR Smart Glasses to Emerge Alongside Industrial Metaverse
But what hardware will the industrial metaverse be consumed on? If current trends are to be believed, it will most likely be smart glasses. The International Data Corporation (IDC) reported a significant recovery in headset purchases in its Worldwide Quarterly Augmented and Virtual Reality Headset Tracker. The latest report indicates that the AR/VR headset market grew by 18.1% year over year in the most recent quarter, with Meta leading the resurgence, capturing 50.8% of the market share.
Ramon T. Llamas, Research Director with IDC’s AR/VR team, noted that “the worldwide AR/VR headset market is reaching a critical tipping point.”
Llamas added:
Pure VR was once the darling of the market with companies like Meta, HTC, and Sony accounting for the vast majority of volumes. Now we have it on track to wind down in the next few years. Likewise, pure AR had strong promise with the help of Microsoft, but now we anticipate volumes to hold a small place in the overall market.
XREAL is currently the second-leading market player, partly due to its sales of smart glasses. In contrast, Viture, another smart glasses vendor, reported an impressive 268.4% year-over-year growth, while TCL saw an increase of 91.6%. Interestingly, the IDC noted that Apple did not appear in the market’s top rankings this quarter. The reporting firm observed a shift towards optical see-through glasses.
Jitesh Ubrani, research manager for IDC’s Worldwide Mobile Device Trackers, also added:
The market is clearly shifting toward more immersive and versatile experiences. While Meta continues to lead, the rise of brands like Viture and XREAL shows that innovation in form factor and user experience is resonating with consumers. The next wave of growth will be driven by mixed and extended reality, especially as AI and Android XR platforms mature.
IDC reports that although AR/VR/MR device shipments are expected to decline by 12% in 2025 due to delayed product launches, the firm anticipates significant growth in 2026. They project an approximate increase of 87%, and from 2025 to 2029, the market is forecasted to grow at a compound annual growth rate of 38.6%.
Llamas concluded:
Meanwhile, we anticipate MR to experience a strong reception with many of those VR companies pivoting there and gaining entrants like Apple. ER headsets will continue to gain traction primarily among gamers. Not to be overlooked is the impact that Google’s Android XR can have across both MR and ER, and we look forward to seeing more vendors leverage the new platform in much the same way that numerous smartphone vendors embraced Android.
The XR market is maturing, though it is progressing slowly and often repetitively. However, this suggests that paradigm-shifting technology is on the horizon. While widespread adoption and utilisation will take time, upcoming events like Meta Connect will likely serve as platforms for reaffirming long-term visions of XR innovation.
