About Mixed Reality
Mixed reality is defined as the type of hybrid system which involves both physical and virtual elements. It is mainly used for visualizing the real as well as virtual world object in real time. In mixed reality, it includes augmented virtuality, augmented reality and other mixed configurations. Increase in implementation of mixed reality in games & entertainment industries is propelling the growth of the market. The market for the mixed reality is anticipated to register a CAGR of over 48.2% during the forecast period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 45.34% |
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global mixed reality market can witness an upsurge in the forecast period. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Mixed Reality market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
HTC Corporation (China), Intel Corporation (United States), Magic leap, Inc. (United States), Microsoft Corporation (United States), Facebook, (United States), Eon Reality, Inc. (United States), Google Inc. (United States), Samsung Electronics Co. Ltd., (South Korea), Seiko Holdings Corporation (Japan) and Epson Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Meta Company (United States).
Segmentation Overview
AMA Research has segmented the market of Global Mixed Reality market by , Application (Aerospace & Defense, Architecture, Entertainment & Gaming, Medical and Others) and Region.
On the basis of geography, the market of Mixed Reality has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Device Type, the sub-segment i.e. Wired will boost the Mixed Reality market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware will boost the Mixed Reality market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology Advancement in Mixed Reality Such as Applications Range From 3D Modeling And Virtual Molding to Remote Repair Guidance, Project Monitoring Apps, among others
Market Growth Drivers:
Rise in Demand from the Education Sector and Growing Awareness of the Technology, along with Content Availability
Challenges:
Lack of Awareness of Mixed Reality Products
Restraints:
High Cost of Mixed Reality Devices
Opportunities:
Rising Demand from Emerging Economics such as China and India
Market Leaders and their expansionary development strategies
In March 2024, Meta reportedly turned down Google parent company Alphabet’s suggestion that the companies partner on virtual reality (VR), augmented reality (AR) and mixed reality (MR) headsets. Alphabet had suggested that Meta use Google’s Android XR software platform to power Meta Quest headsets, Reuters reported Friday (March 1), citing a paywalled article by The Information.
In June 2023, Meta Platforms CEO Mark Zuckerberg has announced the company's upcoming mixed reality headset, the Quest 3, as competition from Apple looms. The Quest 3 will be 40 per cent thinner than its predecessor and will introduce color mixed reality, combining augmented and virtual reality elements. Meta also plans to lower the prices of its existing Quest 2 headsets while enhancing their performance.
Key Target Audience
Mixed Reality Companies, Product Sales and Distribution Companies, Government Regulatory Authorities, Solution Providers, Technology Standards Organizations and Technology Investors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.