Mixed Reality Market is anticipated to hit $33.79 billion by 2023 at a CAGR of 73.20%.
According to the new market research report by IndustryARC titled “Mixed Reality Market: By Technology (Hardware, Software); By Display Devices (HUD, HMD, Others); By Application (IPCM, Simulated based learning, Others); By End-User Industries (Automotive, Aerospace, Medical, Others); By Geography - (2015-2021)”, the market is driven by major applications in the gaming and entertainment industry.
Americas held the largest market share in the Mixed Reality Market
Americas region holds the largest market share and growth in the Mixed Reality Market and is anticipated to reach $18.67 billion by 2023 at a CAGR of 80.20%. Americas Mixed Reality Market is mainly driven by the concentration of technology-based companies and high scale of research operations. Americas hosts quite a number of virtual augmented and mixed reality solution providers including Oculus VR, LLC, Atheer, Inc, EON Reality, Inc, Magic Leap, Inc, Microsoft, Google and so on. Gaming and Entertainment is the major application for Mixed Reality in the Americas which is forecast to continue its dominance over the coming five years.
Mixed Reality Market Value Chain Analysis done in the full report
- The value chain for this market is highly organized unlike other industries wherein the existence of counterfeit products hampers the value chain.
- However, this can be a threat in the future, as lack of governing bodies/ regulations can increase the risk of existence of counterfeit industry.
- Application developers play a major role in the value chain of mixed reality products as the application of these devices is holistically dependent on applications. Hence, application developers also reap a huge profit from this market as these devices would be application specific.
- Both mixed-reality systems manufacturer and application developer will have high-profit margin.
- Final end user or final consumer and their needs define and compels the entire industry to make changes in the value chain, in terms of technology and processes.
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Excerpts on Mixed Reality Market Growth Factors
- Mixed Reality is the novel stride in the leap of technology that will change how things are presumed in the new era. This technology will have marvelous consequences on all sectors of life including medical, education, science, art and entertainment.
- Increasing adoption/ sales of HMDs will drive the overall market for Mixed Reality Devices.
- This technology has become really important and is estimated to be the new wave in the future of technology and communications.
- Mixed Reality devices are increasingly being incorporated into Pro Sports such as Football, Basketball, Hockey, Rugby and so on to facilitate better understanding for the viewers. Moreover, these devices are also being used in training players.
- One of the major drivers is the rise in the adoption of smartphones. Hence, Mixed Reality devices incorporated/enabled with smartphones offering plug and play features would cause a paradigm shift to the mixed reality devices market. For instance, Lenovo has developed a new smartphone “Phab 2 Pro” enabled with Google Tango which offers mixed-reality features to an extent.
- Mass Adoption of Mixed Reality Devices is expected to drive down the prices of these devices, hence resulting in increased sales of mixed reality products.
- The market for simulation-based learning mixed reality is anticipated to see an upsurge during the forecast period. The market will reach $4.84 billion till 2023 growing at a CAGR of 75.8%.
- The market for navigation in mixed reality is set to see an upsurge due to the growing advancements in the travel industry. The market revenue is poised to reach $2.84 billion till 2023, growing at a CAGR of 73.0% during the forecast period.
- Defense industry uses mixed reality for testing and evaluations and in the vehicles and aircraft.
- Mixed reality can change the watching of the game into a more interactive and futuristic experience. It enables sports fans to control the interactive graphic with a swipe of a finger or a wave of a hand. All these possibilities are expected to be commercially available with few already in the market, and thus, driving the MR market.
- Microsoft is now selling development versions of its mixed-reality visor called the HoloLens and Magic leap which is a new startup based in Florida that has come up with smart glasses technology, a pair of transparent glasses, which are capable of sending the user into a mixed reality world.
- Augmented reality in combination with virtual reality is going to be the next big thing in APAC tourism industry. Countries like China are investing a huge amount of money in their tourist industry by developing various novel technologies to stand out and attract tourists.
- Mixed reality in industrial and construction applications is predominantly used for quality control in production and holographic non-destructive testing, which is a form of fracture testing.
- Mixed reality displays provide numerous benefits to several industries. Some of their key benefits for the architectural industry include cost-effectiveness, quick to produce, amazing to look at and understood by anyone, flat, robust, light, easy to transport and store, perfect accuracy, no special equipment required, fast and effective communication of ideas, include animation, channeling/design phasing, a wide range of data sources supported and many more.
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Key players of Mixed Reality Market:
- Samsung Electronics Co. Ltd. and HTC Corp. dominated the mixed reality, end product market in 2015 with a combined share of 57% together.
- The companies operating in this segment are either established players such as Microsoft, Google, HTC and so on, or new players such as MagicLeap, Opuscope and so on.
- Research, testing, logistics, installation and application developers play an important role in the transformation towards efficient and cost-effective value addition, and transfer right from raw material to the end-user phase. Defining and implementing the R&D pipeline according to the market trends and future applications and establishing value chain frameworks accordingly, has made the industry more agile. Final end user or final consumer and their needs define and compels the entire industry to make changes in the value chain in terms of technology and processes.
- The huge potential of mixed reality devices would foster the growth of these devices across sectors such as Education, Fashion, Engineering, Scientific Visualization, Telecommunications, Construction, and Film. For instance, in the education section, these devices can be used for detailed explanation of the study object as this device offers holistic, 3D view of images; in fashion and engineering sectors, this device can be used in presentations and study of design. Similarly, various other sectors offer multiple applications for these devices.
- Mixed reality is expected to be incorporated into the Entertainment industry which will enable the viewers to experience the movie as well as allows a 3D view of the movies.
Mixed Reality Market Report is segmented as indicated below
- Mixed Reality Market By Technology:
1 Hardware
1.1 Processor
1.2 Display
1.3 Sensors
1.4 Input Devices
2 Software and Algorithms
- Mixed Reality Market By Display Devices
1.Introduction
2.CAVE
3.Head-Up Display (HUD)
4.Head-Mounted Display
5.Personal Digital Assistant
6.Eyeglasses
- Mixed Reality Market Market By Application
1 Introduction
2 Maintenance
3 Defense
4 Archaeology & Tourism
5 Architecture & Construction
6 Interactive Product Content Management (IPCM)
7 Simulation-Based Learning (SBL)
8 Navigation
9 Gaming and Entertainment
10 Others
- Mixed Reality Market by End User
1.Introduction
2.Industrial & Manufacturing
3.Aerospace & Defense
4.Automotive
5.Medical
6.Infotainment & Gaming
7.Others
- Mixed Reality Market By Geography (Covers 12 + Countries)
- Mixed Reality Market By Entropy
Companies Cited/Referenced/Interviewed in Mixed Reality Market:
- Alphabet Inc (Google Inc)
- Apple Inc;
- Osterhout Design Group
- Vrvana Inc;
- Worldviz LLC
- Recon Instruments (Intel)
- Seiko Epson Corporation
- LM3Labs
- Lumus Ltd
- Sulon Technologies Inc;
- Daqri, LLC
- Canon Inc;
- Vuzix Corporation
- Meta Company
- Infinity Augmented Reality Ltd
Related Reports
- A.Augmented and Virtual Reality Handheld Devices Market
- B.Head-Up Display Market
What can you expect from the report?
The Mixed Reality Market is Prepared with the Main Agenda to Cover the following 20 points:
1.Market Size by Product Categories
2.Market trends
3.Manufacturer Landscape
4.Distributor Landscape
5.Pricing Analysis
6.Top 10 End-user Analysis
7.Product Benchmarking
8.Product Developments
9.Mergers & Acquisition Analysis
10.Patent Analysis
11.Demand Analysis (By Revenue & Volume)
12.Country-level Analysis (15+)
13.Competitor Analysis
14.Market Shares Analysis
15.Value Chain Analysis
16.Supply Chain Analysis
17.Strategic Analysis
18.Current & Future Market Landscape Analysis
19.Opportunity Analysis
20.Revenue and Volume Analysis
FAQ:
Does IndustryARC publish country, geography or application based reports in Mixed Reality Market?
Yes, we do have separate reports as mentioned below:
1.Americas Market for Mixed Reality Market Report (2018-2023)
2.Europe Market for Mixed Reality Market Analysis (2018-2023)
3.APAC Market for Mixed Reality Market Size (2018-2023)
4.RoW Market for Mixed Reality Market Share (2018-2023)
5.Hardware Market for Mixed Reality Market Forecast (2018-2023)
6.Software and algorithms Market for Mixed Reality Market Trends (2018-2023)
7.CAVE Market for Mixed Reality Market Growth (2018-2023)
8.Head-Up Display Market for Mixed Reality (2018-2023)
9.Head-Mounted Display Market for Mixed Reality (2018-2023)
10.Personal Digital Assistant Market for Mixed Reality (2018-2023)
11.Eyeglasses Market for Mixed Reality (2018-2023)
12.Maintenance Market for Mixed Reality (2018-2023)
13.Defense Market for Mixed Reality (2018-2023)
14.Archaeology & Tourism Market for Mixed Reality (2018-2023)
15.Architecture & Construction Market for Mixed Reality (2018-2023)
16.Interactive Product Content Management Market for Mixed Reality (2018-2023)
17.Simulation-Based Learning Market for Mixed Reality (2018-2023)
18.Navigation Market for Mixed Reality (2018-2023)
19.Gaming and Infotainment Market for Mixed Reality (2018-2023)
20.Industrial & Manufacturing Market for Mixed Reality (2018-2023)
21.Aerospace & Defence Market for Mixed Reality (2018-2023)
22.Automotive Market for Mixed Reality (2018-2023)
23.Medical Market for Mixed Reality (2018-2023)
24.Infotainment Market for Mixed Reality (2018-2023)
- Does IndustryARC customize these reports and charge additionally for limited customization?
Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
- 1. Increase the level of data in the application or end user industry.
- 2. Increase the number of countries in geography chapter.
- 3. Find out market shares for other smaller companies or companies which are of interest to you.
- 4. Company profiles can be requested based on your interest.
- 5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end-use segment.
Any other major customizations can be discussed with our team, we can provide a separate quote based on your requirement. You can drop in an e-mail to sales@industryarc.com to discuss more about our consulting services.
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Mr. Venkat Reddy
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Email 1:sales@industryarc.com
Or Email 2:venkat@industryarc.com
Contact Sales: +1-614-588-8538 (Ext-101)
About IndustryARC:
IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences &Healthcare.
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