-- Market Highlights
The consumer demand for mixed reality is predicted to observe substantial growth over the projected period. Throughout the study era, North America was projected to dominate the mixed-reality industry led by Europe. Market development is driven by the relatively high acceptance of mixed reality products in North America and the introduction of innovative mixed reality devices by primary players in this market. The virtual reality market is strongly affected by the growing demand for AR / VR head-mounted displays in the gaming and entertainment industry and app creation as well as hardware modules for immersive user experience. Conversely, the limited battery life and image latency issues in mixed reality devices can disrupt market growth.
As per MRFR study, the rise of the mixed reality market can be at 27% CAGR in the review period (2016-2022). MRFR study shows that the world market of mixed reality can value at USD 212 Mn in the study period.
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Segmentation:
Application, components, and product are comprised as the segment study of the mixed reality global market.
Component-based segments of the global mixed reality market are hardware and software. Over the analysis period, the software segment can gain substantial momentum for the industry.
The product-based mixed reality market categories include computer monitor, laptop, HMD monitor, a head-up display, and tablet PC. The increase in the support provided by a computer monitor, smartphone, along with HMD monitor, that press for the expansion of the study period's mixed reality market.
International application-based mixed reality industry segments include automobile, medical, retail, education, military, gaming & entertainment, IT, and architecture. The growth in the utility of mixed reality technologies in cash-rich industries, such as IT and entertainment, will promote the development of the global mixed reality market through the review period. The millennial's strong demand for robust and stratifying gaming experience will bring traction to the global virtual reality industry for the years ahead.
Regional Analysis:
In North America, mixed reality market can have the largest annual revenue in analysis period, reveals the regional analysis conducted by MRFR. Superior infrastructure and considerable investment in R&D can bolster the expansion of mixed reality market in North America. The high tendency for latest technology adoption in different field to enable improved service are other causes that can propel the regional market. Reputed companies in the area and their dynamics can contribute to the expansion of the mixed reality market. In Europe, the rise of the mixed reality market is observed to have similar growth drivers as North America growth drivers.
In APAC, the growing adoption of different games is observed as a real game changer for the regional market. Multiple industries are implementing mixed reality solutions to enable quick results with enhanced experience. This can underpin the rise of Asia Pacific mixed reality market through the assessment period. India and Japan are observed to hold maximum growth opportunity for the regional mixed reality market.
Competitive Analysis
The major players of global mixed reality market are Seiko Epson Corporation (Japan), Accenture PLC (Ireland), HTC Corporation (Taiwan), Samsung Electronics Co., Ltd (South Korea), Magic Leap, Inc (US), Intel Corporation (US), Google LLC (US), Microsoft Corporation (US), Sony Corporation (Japan), Facebook Inc. (US).
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Mixed Reality Market Report: Information By Component (Hardware and Software), By Product (Head-Up Display, Smartphone/Tablet PC), By Vertical (Education, Gaming & Entertainment, Medical, Military & Aerospace) - Global Forecast till 2027
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