- The global Mixed Reality market size is projected to reach USD 4454.1 Million by 2026, from USD 196 Million in 2019, at a CAGR of 68.3% during 2021-2026.
BANGALORE, India, July 21, 2020 /PRNewswire/ -- Mixed reality is the result of blending the physical world with the digital world. Advances in computer vision, graphics processing power, display technology, and input devices make mixed reality possible. Rather than residing in a fully virtual environment, virtual objects are rooted in the user's physical world, thereby making the virtual experiences appear tangible. Since mixed reality blends both physical and digital worlds, these two realities define the polar ends of a spectrum known as the virtuality continuum.
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TRENDS INFLUENCING THE MIXED REALITY MARKET SIZE
- Increased adoption of new technology equipment in various educational institutions is expected to increase the mixed reality market size during the forecast period. Mixed reality is of great assistance to students and teachers, as it makes everything interactive. Teachers may use these tools to instruct trainees without having to be at the same place. This technology ensures improved and immersive research methods, but it also helps to minimize learning errors as it uses 3D images.
- The surge in the adoption of mixed reality technology in the gaming and entertainment industries is expected to increase the mixed reality market size. Mixed reality makes not only the game and movies enticing but also interactive. In addition, the increasing need for user innovation encourages both industries to invest in such technologies, which are expected to complement the growth of the market.
- Continuous investment in R&D is expected to increase the mixed reality market size. These investments ultimately aim to replace keyboards and flat displays with a completely new model that could take the user engagement to a whole new level.
- The widespread adoption of Mixed reality in wearable technology is expected to increase market growth. Many types of field operations, such as maintenance and delivery services, may benefit from the incorporation of mixed reality in wearables. One such example is Microsoft's HoloLens.
- Also, the rising adoption of mixed reality in healthcare and medical sectors is expected to drive the growth of the global mixed reality market during the forecast period.
- Mixed reality devices create a powerful impression of the shopping and retail environment in real life. This technology is used by a majority of retailers to provide their customers with an interactive experience that takes shopping to new fronts. This growing adoption by the Retail sector, to stand out among the competition, is expected to increase the Mixed Reality market size.
- It is anticipated that the high cost of a mixed reality product will hinder commercial adoption and thus affect market development. Increasing technological advances and mixed reality innovations compel the manufacturers to sell the device at a premium price.
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MIXED REALITY MARKET SHARE ANALYSIS
North America is expected to hold the largest Mixed Reality market share during the forecast period. This dominance of North America is attributed to the penetration of mixed reality devices. Furthermore, the presence of key players such as Microsoft Corporation, Intel Corporation, Magic Leap, Inc., and Google, Inc. is expected to fuel the growth of the Mixed reality market in this region.
Asia Pacific region is expected to witness the highest growth rate during the forecast period. The rise in the rate of economic growth, the increase in the adoption of technologically advanced solutions, the rise in the penetration of smartphones in emerging economies such as China and India, and the growth in the usage of technology in end-use industries are some of the main factors that drive the region's market.
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The key players covered in this study
- Magic leap
- Eon Reality
- Samsung Electronics
- Seiko Epson
Mixed Reality Market segment by Type, the product can be split into
Mixed Reality Market segment by Application, split into
- Aerospace & Defense
- Entertainment & Gaming
Mixed Reality Market segment by Regions/Countries, this report covers
- North America
- Southeast Asia
- Central & South America
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SIMILAR REPORTS :
- Augmented and Mixed Reality Market Report
With the advent of technological advancements in the field of audio-video technologies, augmented reality and mixed reality devices have significantly revolutionized the way several industries operate. These devices have reduced the workload of industries and enhanced the user's overall experience with the aid of enhanced visualization technologies.
The key factors driving the growth of Augmented and Mixed Reality Market size are the increasing demand for the high-end consumer electronics market, the launch of low-cost products, and the increase in disposable income.
- Consumer Mixed Reality Market Report
Consumer Mixed Reality is the further development of virtual reality technology, which presents virtual scene information in the real scene. It builds an interactive feedback loop between the real world, the virtual world, and users to enhance the user experience.
- Mixed Reality Headsets Market Report
Increasing adoption of mixed reality technology in various sectors such as automotive, healthcare, entertainment, and live events, is expected to increase the growth of Mixed Reality Headsets Market size. The technological progress of mixed reality technology combined with its use of intense healthcare and military training further stimulates market growth.
- Mixed Reality in Gaming Market Report
Mixed Reality in Gaming offers an interactive gaming world, enabling players to explore virtual reality on their devices. Due to the growing competition in the gaming industry, companies are utilizing mixed reality as a differentiator to stand out among the competition. This increasing adoption by the various organizations is expected to increase Mixed Reality's growth in the Gaming Market size during the forecast period.
- Mixed Reality in Healthcare Market Report
Mixed Reality in Healthcare Market report provides detailed information to the clients about the various factors impacting the growth of the regions across North America, Europe, China, the Rest of Asia Pacific, Central & South America, and Middle East & Africa.
The report provides detailed segments based on product type and applications so that the readers can better understand each segment that influences the Mixed Reality in Healthcare market growth.
- Head Mounted Display (HMD) Market Report
The global Head Mounted Display market size is projected to reach USD 18.4 Billion by 2026, from USD 5.5 Billion in 2019, at a CAGR of 22.3% during 2020-2026.
- Head-Up Display (HUD) Market Report
The global Head-Up Display market size is projected to reach USD 2422.5 Million by 2026, from USD 930 Million in 2019, at a CAGR of 17.3% during 2020-2026.
A head-up display is any transparent display that presents data without requiring users to look away from their usual viewpoints
- Augmented and Virtual Reality Market Report
The global AR and VR market size was USD 11.35 Billion in 2017, and the augmented and virtual reality market forecast is projected to reach USD 571.42 Billion by 2025, growing at a CAGR of 63.3% from 2018 to 2025.
During the forecast period, Asia-Pacific (APAC) is expected to see the fastest growth in the AR and VR industry. The rise in the rate of economic growth, the increase in the adoption of technologically advanced solutions, the rise in the penetration of smartphones in emerging economies such as China and India, and the growth in the usage of technology in end-use industries are some of the main factors that drive the region's market.
- Virtual Reality Market Report
The Global Virtual Reality Market Size is growing at a CAGR of 34.5% during the forecasted period 2019 to 2025
North America is expected to hold the largest VR market share during the forecast period.
On the other hand, Asia Asia-Pacific region is estimated to witness the highest growth rate. Countries such as China, India, Japan, and South Korea in the APAC region are witnessing a huge demand for head-mounted displays for the gaming application.
- Augmented Reality Market Report
The global Augmented Reality Market size is projected to reach USD 3664.5 Million by 2026, from USD 849 Million in 2019, at a CAGR of 27.6% during 2020-2026.
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