Press release
Mixed Reality in Gaming Market to Witness Significant Growth in the Coming Years
Some of the prominent participants in the global mixed reality in gaming market are Canon Inc., Dagri LLC, Infinity Augmented Reality Inc., Magic Leap Inc., Microsoft Corporation (HoloLens), Recon Instruments Inc., Seiko Epson Corporation, Ubisoft Entertainment, CCP hf , HTC Corporation, Lenovo Group Ltd., Meta Company, Osterhout Design Group, Samsung Electronics Co. Ltd., and Six Flags Entertainment Corporation.
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As per estimations of the TMR report, the demand for mixed reality in gaming, across the world, will increment at a whopping 38.06% CAGR during the forecast period between 2017 and 2025. By the end of the forecast period in 2015, the revenue in this market is projected to be worth US$187.13 mn.
Powered by the U.S. and Canada, North America Emerges Dominant
Mobile apps stood as the leading component segment in 2015 followed by software. Based on application, the market is segmented into entertainment and training/learning. Entertainment segment is anticipated to hold the leading share in the global mixed reality in gaming market over the forecast period. The personal (individual) end-use vertical is predicted to lead vis-à-vis revenue in the overall market over the forecast period. The TMR report rates North America to be the most lucrative regional market powered by growth in the U.S. and Canada.
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Development of Advanced Technology Video Games Boosts Growth
Majorly fuelling the global mixed reality in gaming market is the incessant growth of the gaming industry. The growing demand for mixed reality in video games among gaming enthusiasts is expected to fuel the market’s growth in the upcoming years. Mixed reality technology incorporates augmented and virtual reality technologies to provide an immersive virtual environment and enables users to experience virtual realism in real time. For instance, the release of Microsoft Hololens developer kits and motion controllers is aiding market players boost the pace of development of mixed reality in gaming.
The growing demand for mobile apps is further anticipated to bolster the market’s growth. For example, Pokémon Go, a location-based game developed by Niantic is a perfect example of blending the digital and physical worlds.
Apart from this, surging adoption of mixed reality in gaming phenomenon in theme parks and military training is expected to augur well for the market’s growth. In particular, developed countries such as the U.S. are investing heavily for research and development for the design of mixed reality based theme parks.
Another crucial factor acting in favor of the mixed reality in gaming market is the ceaseless penetration of smart computing devices such as smartphones that are integrated with hardware. The adoption of Internet of Things (IoT) for integrating mixed reality in smartphones with hardware is anticipated to accelerate the growth prospects of mixed gaming in reality market.
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