The Global Mixed Reality Market has recorded $1054.3 m in 2017 and it is estimated to surpass $9982.8 m by 2023 growing at an estimated rate of more than 73.2% during 2018 to 2023. Software and Hardware are witnessed as fast growing in the market with $718.5 and 336.5 million revenue with a CAGR of 69.1% and 81.4% respectively. Eye Glass Display Device holds $321.4 m in 2017 with 66.1% growth rate. Mixed Reality technology is going to uplift the market from infant phase to extreme extent.
What is Mixed Reality Market?
Mixed reality symbolizes the controlled collision of the AR/VR and IoT trends. It is the merging of Real and Virtual worlds to develop new visualizations and environments in which both digital and physical objects and their data can co-exist and interact with each other. MR displays images on semi-transparent materials using a projector, then it will get reflected to the eye with the help of beam-splitting technology. MR is applied on various places like maintenance & operations, production, design & development, reporting & analytics, quality control and distribution.
This report incorporates an in-depth assessment of Mixed Reality Market by Technology, Display Devices, End-User, Application and Geography.
What are the major applications for Mixed Reality Market?
The various end-users assessed includes Maintenance, Defense, Archaeology & Tourism, Architecture & Construction, Interactive Product Content Management (IPCM), Simulation Based Learning (SBL), Navigation, Gaming and Entertainment, Medical and Education and Sports. Combination of augmented and virtual reality increases the productivity, accuracy and safety of maintenance. Much useful in military training and situational positions like in the battle field. Now-a-days populace are more engaged in gaming and entertainment which is soon going to boost the market in this sector.
Market Research and Market Trends of Mixed Reality Market
- Mixed Reality is fueling the investments in devices, software ecosystems and platforms. The ultimate goal of these investments is to replace keyboards and flat displays with entirely new business pattern in the industry. This would emerge and enhance the market to whole new level in user engagement in the modern technological era. Every single improvement made to user interface patterns, results in functioning of keys, clicking, touching and swiping, and now offers a chance to progress “beyond the glass” of conventional displays used. Technology influences the market globally which leads to the increment of market size and growth.
- Collaborating on a real world is a dynamic and easy interchange of focus between the shared workspace and interpersonal space is the common communications space between them. And now, Microsoft is involved to support the mixed reality which means, in a year or two, almost everyone will be able to enjoy moving between realities at home and at work. Enterprises will embrace and adopt mixed reality as the growth is high than the predictions. MR helps the organizations to expand in real-time communication by enabling everyone to gain the real-time experience according to the user’s preferences. Implementation with business goals can also transform an organization’s work culture, enable people to collaborate more naturally and efficiently by leading them to reduce operational costs.
- The enterprise potential of mixed reality continues to grow as companies explore and move beyond pilot applications. Enhanced efforts integrate the opportunities made by IoT technology with the aid of sensors and connected devices that assists to build a more incorporated physical and digital landscape resulting high investments in infrastructure. Wearable’s technology is one of the basis for the most advanced and immersive mixed reality experiences where market evolves. Wearables will find many users in the industry and enterprise as its growth in the market is very high. Many types of field operations such as maintenance and delivery services may benefit from wearable, as it was the most notable recent developments in Microsoft’s HoloLens.
Who are the Major Players in Mixed Reality market?
The companies referred to the market research report includes Oculus VR, LLC, Infinity Augmented Reality, Inc., Meta Company, Atheer, Inc., Vuzix Corporation, Canon, Inc., HTC Corporation , Daqri, LLC., Sulon Technologies Inc., Lumus Ltd. and more than 20 companies.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
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- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.