Extended reality (XR): Apple's entry holds promise but mainstream XR remains a long game

Extended reality (XR) has been trying to get on a firm footing for several years now. Apple's entry into XR, with the launch of its Vision Pro wearable headset device in June 2023, was an eagerly anticipated event that holds the promise of eventually accelerating XR's popularity. In this report we start by reviewing the current state of XR, before discussing the impact that Apple could have on XR and the challenges it faces in realising its vision of XR as the next computing platform. Finally, we look at the implications for various industry players such as Apple's XR competitors, XR vendors and operators.