Mixed Reality Market Size, Share & Segmentation by Component (Hardware and Software), by Device Type (Wired device and Wireless device), by Application (Aerospace & Defense, Architecture, Entertainment & Gaming, Medical, Others), by Regions and Global Market Forecast 2023-2030
Report Id: SNS/ICT/1574 | June 2022 | Region: Global | 120 Pages
Report Scope & Overview:
The Mixed Reality Market size was valued at USD 823.16 Million in 2022 and is expected to reach USD 13.88 Billion by 2030, and grow at a CAGR of 42.36% over the forecast period 2023-2030.
Mixed reality is a technology that allows users to see both real and virtual objects in real-time. The goal of this technology is to combine the greatest features of both virtual and augmented reality. Mixed reality can encompass augmented reality, augmented virtuality, and various mixed configurations in this situation. Instead of existing wholly in a virtual environment, virtual items are embedded in the user's actual reality, making virtual interactions look genuine.
Mixed reality (MR) is the merging of the real and virtual worlds to create new environments and representations in which digital and physical items interact in the actual world. Mixed reality is a mix of reality and virtual reality that does not take place in either a physical or virtual environment. Through immersive technology, it incorporates both augmented reality and augmented virtuality. Mixed reality is used in a variety of sectors, including automotive and aerospace, entertainment, healthcare, e-commerce, and reality.
On May 24, 2022, Microsoft stated that Kawasaki will employ the "industrial metaverse" in its facilities to assist in the production of robots. Workers on the production floor may use Microsoft's HoloLens headgear to overlay digital graphics in a real-world setting. Because there isn't yet a breakthrough consumer product, Metaverse products are being employed in business-related applications. Microsoft has a leg up on the competition, and it's already selling its mixed reality technology to businesses while simultaneously providing developers with the tools they need to create their own metaverse experiences.
MARKET DYNAMICS:
KEY DRIVERS:
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Mixed reality is becoming more popular in the healthcare and medical fields.
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A user experience that is instructive in e-commerce shopping and retail.
RESTRAINTS:
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Financial limits and concerns about privacy.
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MR-related technical concerns.
OPPORTUNITY:
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Demand from the automobile industry is increasing.
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Government funding in the field of MR should be increased.
CHALLENGES:
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Difficulties with latency.
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The battery's short life.
IMPACT OF COVID-19:
The epidemic has affected every market on the planet. Social alienation and frequent lockdowns have had a significant influence on the economy and commercial sectors. Early-stage technological solutions such as virtual reality, mixed reality, and augmented reality have had major ups and downs. The mixed reality market, on the other hand, has developed to some extent during the crisis. Furthermore, because these technologies are not completely developed and used, the crisis scenario has had some negative consequences on them.
MARKET ESTIMATION:
In 2021, the software sub-segment had the biggest market share based on components. Mixed Reality facilitates the completion of production for enterprises of all sizes. Because of the growing need for Mixed Reality services like installation, support, and maintenance training, among others. The segment's rise may be ascribed to an increase in demand for various consulting services in end-use industries for risk management and identifying growth potential for future development.
Because of its qualities including flexibility, portability, and extendibility, the wireless sub-segment retained the biggest market share by device type in 2021. The market's growth is being fueled by increased demand for wireless networks in the building of smart infrastructure, a substantial increase in internet penetration, and an increase in the use of the internet of things (IoT).
In 2021, the Entertainment & Gaming category had the biggest market share. The growing need for innovation among users is pushing entertainment and gaming firms to invest in MR technology, which is expected to boost the industry's growth. Mixed reality is also used in various industries to make things more engaging for students and teachers, such as education. Trainers can use such gadgets to educate trainees without needing to be present in the same room with them. People like to gamble, and the general public has become increasingly receptive of legalized gambling. Local governments are becoming more supportive as well, and supply is finally catching up with demand.
KEY MARKET SEGMENTS:
On The Basis of Component
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Hardware
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Software
On The Basis of Device Type
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Wired device
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Wireless device
On The Basis of Application
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Aerospace & Defense
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Architecture
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Entertainment & Gaming
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Medical
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Others
REGIONAL ANALYSIS:
The global mixed reality market has been divided into the Asia Pacific, North America, Africa and the Middle East (MEA), Europe, and South America based on regional mixed reality market opportunities. North America will lead the market during the projection period, notwithstanding all of these segmentations of mixed reality market major players. The mixed reality market in this area is growing due to expanding penetration of AR and VR for different MR devices, enormous penetration of various MR devices, increasing application of AR and VR in the e-commerce and healthcare sectors, presence of mixed reality major companies in the US, and other reasons.
In the Asia Pacific region, the mixed reality market is predicted to develop at a healthy rate throughout the forecast period. The presence of various emerging mixed reality market key players such as China and India, rising financial growth, growing penetration of smartphones, rising adoption of innovative technologies in several worldwide end-use industries, large population, rising adoption of various technologically advanced MR solutions, and the rising popularity of AR and VR-enabled gaming are the reasons behind the growth of the mixed reality market in this region.
REGIONAL COVERAGE:
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North America
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USA
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Canada
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Mexico
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Europe
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Germany
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UK
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France
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Italy
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Spain
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The Netherlands
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Rest of Europe
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Asia-Pacific
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Japan
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south Korea
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China
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India
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Australia
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Rest of Asia-Pacific
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The Middle East & Africa
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Israel
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UAE
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South Africa
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Rest of Middle East & Africa
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Latin America
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Brazil
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Argentina
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Rest of Latin America
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KEY PLAYERS:
The major key players are Eon reality, inc., Facebook, Google, inc., Htc Corporation, Intel Corporation, Magic leap, inc., Microsoft corporation, Meta company, Samsung electronics co., ltd., Seiko Epson corporation.
| Report Attributes | Details |
| Market Size in 2022 | US$ 823.16 Mn |
| Market Size by 2030 | US$ 13.88 Bn |
| CAGR | CAGR of 42.36% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Component (Hardware and Software) • by Device Type (Wired device and Wireless device) • by Application (Aerospace & Defense, Architecture, Entertainment & Gaming, Medical, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Eon reality, inc., Facebook, Google, inc., Htc Corporation, Intel Corporation, Magic leap, inc., Microsoft corporation, Meta company, Samsung electronics co., ltd., Seiko Epson corporation |
| Key Drivers | • Mixed reality is becoming more popular in the healthcare and medical fields. • A user experience that is instructive in e-commerce shopping and retail. |
| Market Challenges | • Difficulties with latency • The battery's short life |
Frequently Asked Questions (FAQ) :
What is the forecast period of the Mixed Reality Market according to the research report?
Ans. The forecast period of the Mixed Reality Market is 2022-2028.
What are the challenges that will be faced by Mixed Reality Market?
Ans: - Difficulties with latency and the battery's short life.
Which Region will be leading the growth of the Mixed Reality market during the forecast period?
Ans: - North America will lead the market during the projection period.
Which are the key players functioning in the Mixed Reality market?
Ans: - The major key players are Eon reality, inc., Facebook, Google, inc., Htc Corporation, Intel Corporation, Magic leap, inc., Microsoft corporation, Meta company, Samsung electronics co., ltd., Seiko Epson corporation
Who are the key stakeholders of the Mixed Reality market study?
Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Mixed Reality Market Segmentation, by Component
8.1 Hardware
8.2 Software
9. Mixed Reality Market Segmentation, by Device Type
9.1 Wired device
9.2 Wireless device
10. Mixed Reality Market Segmentation, by Application
10.1 Aerospace & Defense
10.2 Architecture
10.3 Entertainment & Gaming
10.4 Medical
10.5 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Eon realty, inc.
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Facebook
12.3 Google, inc.
12.4 Htc corporation
12.5 Intel corporation
12.6 Magic leap, inc.
12.7 Microsoft corporation
12.8 Meta company
12.9 Samsung electronics co., ltd.
12.10 Seiko epson corporation
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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