Mixed Reality Market is Expected to Reach $5,362.1 Million, By Top Leading Companies HTC Corporation, Intel Corporation, Magic leap, Inc., Microsoft Corporation, Facebook, Eon Reality, Inc., Google Inc., Samsung Electronics Co. Ltd., Seiko Epson Corporati
North America is expected to dominate the global mixed reality market during the forecast period, owing to rise in adoption of mixed reality in games & entertainment industry. In 2017, China dominated the Asia-Pacific market. The U.S. led the market in North America, whereas the UK led the European market in 2017.
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Mixed reality, also referred to as hybrid reality, is a next-generation technology in which virtual and augmented reality are merged to produce new environment and visualization, where physical and digital objects co-exist and interact in real time. It is widely used by the users, while playing games or watching movies. The environment created is hard to break, thus providing full entertainment to the users. Mixed reality is a mix of reality and virtual reality, encompassing both augmented reality and virtual reality via technology.
At present, North America dominates this market. In 2017, China is expected to register the highest growth in Asia-Pacific. Similarly, the UK is expected to lead the overall market in Europe in 2017. In the same year, the U.S. is estimated to dominate the North America market.
Rise in adoption of mixed reality in games & entertainment industry and increase in demand for mixed reality in the education sector drive the growth of the global mixed reality market. However, high cost of the technology and lack of awareness about mixed reality restrict the market growth.
In 2017, based on component, the hardware segment is anticipated to dominate the global mixed reality market, in terms of revenue. However, based on application, aerospace & defense is projected to lead the global market in the same year.
The report includes a micro-level study of different regions adopting mixed reality for various applications. In addition, it discusses the potential opportunities for market players to enter the market. Moreover, it provides an in-depth market analysis of mixed reality, outlining current trends, key driving factors, and potential areas for product investments.
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The global mixed reality market is analyzed based on four regions-North America, Europe, Asia-Pacific, and LAMEA. In addition, it includes Porters Five Forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report further features the strategies adopted by the key market players to maintain their foothold in the market. HTC Corporation, Intel Corporation, Magic leap, Inc., Microsoft Corporation, Facebook, Eon Reality, Inc., Google Inc., Samsung Electronics Co. Ltd., Seiko Epson Corporation, and Meta Company are some of the key players operating in the global mixed reality market.
The global mixed reality market is expected to witness robust growth in the near future, owing to increase in demand for innovative & wearable products and the benefits. Moreover, increase in adoption of mixed reality in the aerospace & defense sector for training programs fuel the market growth. In addition, the device can be used in schools, as it provides 3D images, which helps in interactive way of learning. Unlike the augmented reality (AR) or virtual reality (VR) that replace the real world with a simulated one, the mixed reality merges the real world with the virtual world, and physical and digital objects coexist and interact in real time.
Growth in demand for mixed reality devices in the gaming & entertainment industry and rise in demand for mixed reality devices in the education sector majorly drive the market. However, the price-based constraints of the mixed reality devices as they are not cost-effective due to its high-tech features impede the growth of the market. In the near future, constant innovation of the semiconductors & sensors industry and increase in number of tech-savvy population, mixed reality technology is expected to create lucrative opportunities for the key players.
Among the analyzed geographical regions, Asia-Pacific is expected to account for the highest revenue in the global market in 2017 followed by North America, Europe, and LAMEA. However, LAMEA is expected to grow at a higher growth rate, predicting a lucrative market growth for the semiconductor IP market.
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