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Mixed Reality Market

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 2022-2028

Report Id: SNS/ICT/1574 | June 2022 | Region: Global | 120 Pages

Report Scope & Overview:

The Mixed Reality Market size was valued at USD 578.23 Million in 2021 and is expected to reach USD 9754.48 Million by 2028, and grow at a CAGR of 42.36% over the forecast period 2022-2028.

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 Market

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:

  • Mixed reality is becoming more popular in the healthcare and medical fields.

  • A user experience that is instructive in e-commerce shopping and retail.

RESTRAINTS:

  • Financial limits and concerns about privacy.

  • MR-related technical concerns.

OPPORTUNITY:

  • Demand from the automobile industry is increasing.

  • Government funding in the field of MR should be increased.

CHALLENGES:

  • Difficulties with latency.

  • 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

  • Hardware

  • Software

 On The Basis of Device Type

  • Wired device

  • Wireless device

On The Basis of Application

  • Aerospace & Defense

  • Architecture

  • Entertainment & Gaming

  • Medical

  • Others

Mixed Reality Market

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:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The 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

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.

Mixed Reality Market Report Scope:
Report Attributes Details
Market Size in 2021  US$ 578.23 Mn
Market Size by 2028  US$ 9754.48 Mn
CAGR   CAGR of 42.36% From 2022 to 2028
Base Year  2021
Forecast Period  2022-2028
Historical Data  2017-2020
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) :

Ans. The forecast period of the Mixed Reality Market is 2022-2028.

Ans: - Difficulties with latency and the battery's short life.

Ans: - North America will lead the market during the projection period.

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

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 the Ukraine- Russia war

 

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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Secondary Research

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