Market Research Future (MRFR), in its latest mixed reality market 2020 report reveals meticulous details on the effect of the coronavirus disease outbreak on the market across the study period. The proper blending of virtual reality and augmented reality to provide an enhanced mixed reality to audience, especially in the film sector, is expected to cause the expansion of the mixed reality market in the forecast period. The growing adoption of mixed reality across the gaming sector can impel the expansion of the world market in the assessment period.
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.
The rise in incorporation of mixed reality solutions in sports, navigation, healthcare, education, and travel field can promote the expansion of the world market. The growing need for enhanced experience in the aerospace sector can improve the expansion of the world market across the review period. The rise in investment in innovations enabled by Internet of Things (IoT) can result in the unprecedented expansion of the market.
The segment study of the mixed reality global market is done by application, components, and product.
The global mixed reality market segments based on components are hardware and software. The software segment can gain considerable traction for the market though the analysis period.
The mixed reality market segments based on product are computer display, smartphone, HMD display, head-up display, and tablet PC among others. The rise in support offered by computer display, smartphone, along with HMD display can impel the expansion of the mixed reality market in the study period.
The global mixed reality market segments based on application are automotive, medical, manufacturing, education, military, gaming & entertainment, IT, and architecture. The rise in the utility of mixed reality solutions in cash rich sectors, such as IT and entertainment, can promote the expansion of the global mixed reality market across the study period. The high preference of millennial for robust and stratifying gaming experience can add momentum to the worldwide mixed reality market for the upcoming years.
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.
MRFR registered some notable players in the mixed reality market. They are; Seiko Epson Corporation (Japan), Microsoft Corporation (U.S.), Intel Corporation (U.S.), Sony Corporation (Japan), Accenture PLC (U.S.), Google, Inc. (U.S.), Facebook, Inc. (U.S.), HTC Corporation (Taiwan), Samsung (South Korea), Magic Leap, Inc. (U.S.), and others.
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