Mixed Reality Market Size - Growth Opportunities to 2023

Posted by Savni on January 22nd, 2020

Overview

The advancements in the field of computer vision and graphical processing power among others have improved the demand for mixed reality. Market reports associated with information and communication technology industry have been presented by Market Research Future which creates reports on other industry verticals that intends to analyze the current market scenarios better. The market for mixed reality is expected to grow at an exceptional CAGR in the course of the forecast period.

The improvements observed in resolution displays, eye tracking, and positional tracking are projected to fuel the development and implementation of the mixed reality market. The novelty of mixed reality in combining the experiences of the virtual world and reality is expected to create extensive demand for the market in the impending years. Moreover, the escalating level of investment in the market is expected to bolster the expansion of the market in the forecast period.

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Segmental Analysis

The segmental analysis of the mixed reality market is carried out on the basis of product, application, component, and region. On the basis of component, the mixed reality market is segmented into hardware and software. The hardware segment of the market is additionally segmented into optics, sensor, processors, memory components, I/O and connectivity units, and power units. Based on product, the mixed reality market is segmented into HMD display, head-up display, computer display, smartphone/tablet/PC, and others. The application basis of segmentation of the mixed reality market is segmented into manufacturing, education, IT, military, automotive, medical, gaming & entertainment, architecture, and others. The regions included in the purview of the mixed reality market is segmented into Europe, Asia Pacific, North America, and the rest of the world.

Detailed Regional Analysis

The regional analysis for mixed reality market includes regions like Europe, North America, Asia Pacific and the rest of the world. The North American region is anticipated to control the mixed reality market through the forecast period. The growing applications of mixed reality products in sectors such as healthcare, military & defense, and manufacturing industry is motivating the development of the mixed reality market in this region. The Asia Pacific region is anticipated to add to the mixed reality market throughout the forecast period. The incidence of important players like in the region is anticipated to fuel the progress of the mixed reality market globally. The growing implementation of mixed reality in areas of gaming and entertainment is also expected to reinforce the mixed reality market size, growth additionally.

Competitive Analysis

The effective implementation of strategies is likely to stimulate the market in the coming years. The expansion of a strong value chain is additionally motivating the development of the market. The development of the market is moving in a promising direction due to new product introductions or intensifying gross revenue of the players in the market. Increased conformity of market players to new customers and market trend inclinations are boosting the growth curve of the market and will persist in the forecast period. Substantial cuts in administrative costs are inducing further expansion of the market. The vertical supplements and product tactics of the market are advancing the potential of the market players. The tactical goals intended for the market are buoyed due to advantageous product differentiation carried out by market contestants. The prominent competitors in the mixed reality market are Seiko Epson Corporation (Japan), Microsoft Corporation (US), Magic Leap, Inc. (US), Accenture PLC (US), Intel Corporation (US), Google, Inc. (US), Samsung (South Korea), Facebook, Inc. (US), Sony Corporation (Japan), and HTC Corporation (Taiwan).

Industry Updates:

Jan 2019 Nreal has recently announced that it has raised million and is opening its mixed reality (MR) smart glasses at CES 2019. The company’s “ready-to-wear” mixed reality glasses are as light as a pair of sunglasses in terms of its weight and have stunning image quality.

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