In daily work life, XR refers to VR, AR, and MR, which is becoming more common. These technologies have been developing since 1957. Cross-platform, cross-media story, and brand worlds are the growing fields of XR application, these are few examples which explain that game industry features beyond gaming. But the growing amount of user participation is the main challenge in creating such an application which satisfied the need of user without compromising the experience. XR is also changing multimedia, by combining real-time interaction and push the limits of immersive experience. New technologies in this field deal with great amount of user interaction in real world. For this, new hardware and software have entered the consumer market, and entirely new technologies are being created at affordable pricing. This paper presents the information about the current technologies used in reality spectrum, how they contribute in gaming and different modes for users to interact and immerse. It also explores devices like VR headsets to AR-enabled glasses and MR resultant combination of virtual and physical space. This paper also highlights the role of XR in multimedia, including holographic video, remote rendering, and media streaming. Finally, it provides detailed information about the hardware, software, and devices which are used for developing in this field and recent advancement.