Press release
Mixed Reality Market Size, Share, Supply, Demand, Analysis And Future Forecast To 2033
Mixed Reality Market Size
As per the report, the mixed reality market size has grown exponentially in recent years. It will grow from $3.60 billion in 2023 to $5.33 billion in 2024 at a compound annual growth rate (CAGR) of 48.1%. The mixed reality market size is expected to see exponential growth in the next few years. It will grow to $25.91 billion in 2028 at a compound annual growth rate (CAGR) of 48.5%.
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The Growing Embrace Of 5G Technology Is Driving The Mixed Reality Market
The penetration of 5G technology is expected to propel the growth of the mixed reality market going forward. 5G technology is the fifth generation of mobile network technology, characterized by faster data speeds, lower latency, and increased connectivity to support a wide range of devices. The penetration of 5G technology is due to complete infrastructure deployment, increased device compatibility, competitive pricing, and expanding coverage areas. Mixed Reality enhances 5G technology by enabling immersive, real-time experiences, such as remote collaboration, virtual events, and augmented reality applications, leveraging the high-speed, low-latency connectivity of 5G networks. For instance, in April 2023, according to data from 5G Americas, a US-based industry trade organization, the global 5G wireless connections increased by 76% from the end of 2021 to the end of 2022, reaching up to 1.05 billion. Further, it is expected to touch a mark of 5.9 billion by the end of 2027. Therefore, the high penetration of 5G technology is driving the growth of the mixed reality market.
Development Of Novel Technologies Transforming The Virtual Reality Market
Major companies operating in the virtual reality market are developing novel technologies, such as micro-OLED technology, to gain a competitive edge in the market. Micro-OLED technology refers to the use of microscopic organic light-emitting diodes to enhance display resolution and reduce motion blur in virtual reality headsets. For instance, in June 2023, Apple Inc., a US-based technology company, launched the Vision Pro AR Headset, a spatial computer that transforms how people work, collaborate, connect, relive memories, and enjoy entertainment. Vision Pro uses micro-OLED technology to pack 23 million pixels into two displays. It is controlled intuitively by users' eyes, hands, and voice, and it offers access to over 1 million apps via a new App Store. VisionOS powers it and features a three-dimensional interface and intuitive gestures, with Siri integration for seamless control.
The mixed reality market covered in this report is segmented
1) By Component: Hardware, Software
2) By Product: Head-Up display, Smartphone , Tablet PC, Computer display, HMD display
3) By Device Type: Wired, Wireless
4) By End-User Verticals: Education, Engineering, Entertainment, Healthcare, Other End-User Verticals
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Major companies operating in the mixed reality market are Google Inc., Samsung Electronics Co. Ltd. , Microsoft Corporation, Meta Platforms Inc, Dell Technologies Inc. , Sony Corporation, Sony Corporation, Intel Corporation, Canon Inc., Asus Tek Computer Inc, Seiko Epson Corporation, HP Development Company LP, Magic Leap Inc., Oculus VR LLC, HTC Corporation, Eon Reality Inc., Daqri LLC., Lumus Ltd., Vuzix Corporation, Sulon Technologies Inc., Amber Garage , Occipital Inc, Atheer Inc.
Contents of the report:
1. Executive Summary
2. Mixed Reality Market Report Structure
3. Mixed Reality Market Trends And Strategies
4. Mixed Reality Market - Macro Economic Scenario
5. Mixed Reality Market Size And Growth
…..
27. Mixed Reality Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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