New York, US, Oct. 19, 2022 (GLOBE NEWSWIRE) -- According to the research reports by MRFR, “Mixed Reality Market Report: Information by Component, Vertical, Product, and Region - Global Forecast till 2030”, the mixed reality market is predicted to thrive substantially during the assessment era from 2022 to 2030 at a healthy CAGR of approximately 43.28% to reach 9.21 Billion USD.
Mixed Reality Market Overview:
The phrase mixed reality market can be defined as a concentrated market including several prime business companies across the globe. It implies the controlled collision between IoT and VR/AR trends. The mixed reality market shows several images on semi-transparent materials that utilize a projector. After that, the images are reflected in the human eye with the help of comprehensive beam-splitting techniques. There are several areas where the mixed reality market is widely implemented, such as development, production, distribution, reporting, design, analytics, operations, maintenance, and quality control. The main parameter causing this is the growing investments in various innovations. The global market for mixed reality has grown immensely in the last few years.
MR Market Competitive Analysis
The catalog of prominent participants across the global market for mixed reality includes companies such as:
- Facebook Inc. (US)
- Google LLC (US)
- HTC Corporation (Taiwan)
- Intel Corporation (US)
- Sony Corporation (Japan)
- Magic Leap, Inc (US)
- Accenture PLC (Ireland)
- Seiko Epson Corporation (Japan)
- Microsoft Corporation (US)
- Samsung Electronics Co., Ltd (South Korea)
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The primary factor supporting the market's growth is the virtual and real worlds that are established to build new visualizations and environments in which both digital and physical objects and their information can communicate and co-exist.
Mixed Reality Market USP Covered
MR Market Drivers
The global market for mixed reality has increased in the last few years owing to the factors such as the growing implementation of mixed reality technologies across the educational sectors, rising incorporation of mixed reality technologies in other sectors, rising use in the architectural sector, and growing adoption of mixed reality technologies in the entertainment and gaming sector.
MR Market Restraints
On the other hand, economic constraints may impede the market's growth.
MR Market Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | USD 9.21 Billion |
| CAGR during 2022-2030 | 43.28% |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | The report also lays emphasis on the various market drivers, opportunities, market restraints, and challenges, as well as offers insights for the forecast period. |
| Key Market Drivers | The hype of VR or AR head-mounted displays can accelerate mixed reality market growth. |
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COVID-19 Impact
The global health crisis as COVID-19, has affected the performance of most industrial areas across the globe. But unlike other market areas, the global market for mixed reality has witnessed several positive and unexpected challenges during the pandemic. With the growing proliferation of advanced technologies, the global market for mixed reality is likely to overgrow over the coming years.
Mixed Reality Market Segment Analysis
Among all the components, the hardware segment is predicted to secure the global market for mixed reality over the review timeframe. The rising implementation of AR devices across several industries and industry verticals, like retail, construction, healthcare, and education, is the primary aspect supporting the segment's growth. Furthermore, the rising demand for AR-compatible hardware exhibits no signs of abating as more organizations invest highly in modern AR products and solutions. On the other hand, the software segment will likely witness the highest CAGR over the coming years.
Among all the displays, the head-mounted display & smart glass segment is anticipated to ensure the leading position across the global market for mixed reality over the review timeframe. The growing demand for head-mounted displays and smart glasses across industrial & enterprise applications is considered the primary parameter that is boosting the segment's growth. However, the handheld devices segment is predicted to show the maximum CAGR over the coming years. the segment's growth is accredited to the factors such as the growing penetration of handheld devices in retail & e-commerce applications, the proliferation of smartphones & tablets, and aggressive integration of AR technology. On the contrary, the head-up display segment is predicted to witness the maximum CAGR over the review era.
Among all the application areas, the industrial & manufacturing segment is anticipated to ensure the top position across the global market for mixed reality over the review era. On the contrary, the healthcare segment is predicted to show the maximum CAGR over the coming years.
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Mixed Reality Market Regional Analysis
The global market for mixed reality is analyzed across five major regions: South America, Europe, the Middle East (MEA), North America, and the Asia Pacific.
According to the research reports by MRFR, the North American region is predicted to ensure the top position across the global mixed reality market over the coming years. the primary parameter supporting the growth of the regional market is the growing penetration in the aerospace and defense segments across the region. Furthermore, the growing penetration of AR and VR for several MR devices is another prime aspect causing an upsurge in the regional market's growth. Moreover, the growing application of AR and VR in the e-commerce and healthcare sectors is likely to influence the regional market's growth over the review era. In addition, the presence of mixed reality key players across the region is likely to boost the regional market's growth over the coming era. the region has the US and Canada as the leading growth contributors. The region has always been known for being the early adopter of advanced technologies, given the presence of several key leaders in the market across the globe, such as Microsoft, and Google LLC, which in turn is anticipated to catalyze the growth of the regional market over the coming years.
The mixed reality market for the European region is anticipated to witness substantial growth over the coming years. the region has taken the lead in implementing AR technology for gaming & entertainment applications is the main factor supporting the growth of the regional market. The region has Germany as the leading growth contributor.
The Asia-Pacific regional market for mixed reality is anticipated to show the maximum growth rate over the coming years. the central aspect causing an upsurge in the regional market is the presence of several evolving mixed reality market key players such as India and China. Furthermore, the growing financial growth is another crucial parameter supporting regional market growth. Moreover, the aspects such as the rising popularity of AR and VR-enabled gaming, growing penetration of smart phones, growing adoption of various technologically advanced MR solutions, large population, increasing adoption of advanced technologies in various worldwide end-use industries, etc. are also projected to catalyze the growth of the regional market over the coming years.
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The region is known to have a large customer base, which in turn is likely to influence the growth of the regional market over the assessment era. In addition, the continued rollout of high-speed, 5G networks across the region is also predicted to boost the regional market's growth over the review era.
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