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Mixed Reality Market - Offer Real-World Experience Through Virtual Images

02-06-2017 10:30 PM CET | IT, New Media & Software

Press release from: TMR - Research Reports

Mixed Reality Market - Offer Real-World Experience Through

The hardware aspect of mixed reality market includes devices such as associated devices, head-mounted displays (HMDs), camera, and console. Meanwhile, the software segment comprises cloud, gestures, mixed reality tracking software, and software development kit (SDK) to offer real-world experience through virtual images.

The research report states that global mixed reality market will be worth US$1.2 bn by 2024 as opposed to US$35.30 mn in 2015. During the forecast period of 2016 and 2024, the global market is anticipated to progress at a CAGR of 39.1%.

The factors driving the global market are the evolution of the entertainment industry and urgent need for making tasks in sectors such as healthcare efficient. Additionally, adoption of mixed reality in the automobile design to improvise safety technologies is anticipated to an emerging trend that will benefit the overall market in the near future.

The market also stands to benefit as developer companies are aiming at offering advanced augmented reality application such as education, industrial, healthcare, travel and navigation, and games and entertainment.

In terms of applications, the global mixed reality market is segmented into healthcare, automotive and aerospace, e-commerce and retail, entertainment, and others. Out of all these, the entertainment sector is going to show remarkable progress in the coming years.

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The designing and implementation of never-seen-before immersive experiences in the field of entertainment with the help of mixed reality devices are expected to boost the progress of this segment. Additionally, adoption and usage of augmented reality in developing video games is also expected to spur the demand for mixed reality devices in the coming years.

The rising disposable incomes of the overall population has increased spending on various types of virtual entertainment, which has also boosted the uptake of mixed reality devices in the entertainment industry. According to research analysts, the entertainment segment is likely to expand at a CAGR 40.3% during the forecast years of 2016 and 2024

About TMR

TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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