Mixed Reality Market By Component (Hardware, Software), By Application (Healthcare, Aerospace & Defense, Entertainment, Automotive, Others) - Growth, Future Prospects, And Competitive Analysis, 2019 – 2027

The growing popularity of 5G & IoT technology will spur the market growth

The global mixed reality market was growing competently and accounted for US$ 75 Mn in 2018 and is expected to grow to US$ 3417.64 Mn in 2027 at a CAGR of 53.9% throughout the forecast period 2019 to 2027.

Mixed reality is an interdisciplinary field involving computer graphics, signal processing, computer apparition, user interfaces, mobile computing, wearable computing, information visualization, and the design of displays and sensors. Mixed reality concepts are increasingly being adopted by various industries, including automotive, healthcare, and office environments.

The growing popularity of 5G technology, IoT technology, and availability of low-cost hardware, among others, have an encouraging impact on the growth of the mixed reality market. However, new business products are counting profoundly on the customer market. In the upcoming years, Bring Your Device (BYOD) trend is expected to gain more popularity within the mixed reality market.

Market Synopsis

Component Analysis

Increased investment flows by significant players will shoot revenue growth during the forecast period.

The hardware segment is the highest revenue contributing segment, accounting for more than 50% of the total market revenue generated worldwide. This is due to the development of advanced mixed reality hardware components such as sensors, processors, and displays. Companies such as HTC, Microsoft, and Facebook, among others, are investing heavily in this technology.

In contrast, Software is expected to register the fastest growth during the forecast period. The growing inclination toward augmented reality, virtual reality, and internet of things technology and their adoption in various enterprises are major driving forces. For Instance, The WaveVR has developed a virtual reality concert platform that allows customers to watch musical performances when paired with the HTC Vive; it allows them to DJ their own set in a virtual venue.

Regional Analysis

The increasing adoption of technologically advanced solutions and the growing emphasis on digitalization and artificial intelligence hold the U.S. in a dominant position

In 2018, North America appeared to be the largest contributing region in the mixed reality market, accounting for more than 1/3rd of the global revenue. North America is expected to continue its dominance throughout the forecast period, trailed by Europe. This is due to an increase in technology adoption of mixed reality devices, 5G technology, and artificial intelligence.

In contrast, the Asia Pacific region is expected to register the highest growth throughout the forecast period. It was owing to a surge in adoption of advanced technology, an increase in application areas, and proliferation of smartphone devices in emerging economies such as China and India. In addition, the penetration of mixed reality in education technology is expected to boost the mixed reality market growth further.

Increased research and development with a strong product portfolio in the developed regions

Top manufacturers are focusing on developing advanced products for application in various industries. As a result, the developers are entering new partnership agreements, product development, mergers, acquisitions, and improved R&D. This, in turn, will increase the expansion of the mixed reality market in emerging nations shortly.

List of Companies Covered:

  • HTC Corporation
  • Microsoft Corporation
  • Facebook, Inc.
  • Apple, Inc.
  • Google, Inc.
  • Intel Corporation
  • Accenture
  • Dell Technologies
  • Magic Leap, Inc.
  • Amber Garage, Inc.

Key Industry Development:

  • In April 2016, BMW Group launched a mixed reality system integrated with their automobile design which has been developed wholly using equipment from the computer gaming industry. This system promises noteworthy benefits over the virtual reality systems that have existed to date, thereby delivering virtual reality on developer workstations.

Historical & Forecast Period

This research study provides qualitative and quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, CAGR (Compounded Annual Growth Rate) for each segment and sub-segment is calculated for the forecast period from 2019 to 2027.

Segmentation Component Segment (2017–2027; US$ Mn)

  • Hardware
  • Software

 Application Segment (2017–2027; US$ Mn)

  • Healthcare
  • Aerospace & Defense
  • Entertainment
  • Automotive
  • Others (E-commerce & Retail

 Geography Segment (2017–2027; US$ Mn)

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, Russia, Rest of Europe)
  • Asia Pacific (Japan, China, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the overall spinal fusion market. In addition, the global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.

Frequently Asked Questions

The market for Mixed Reality is expected to reach US$ 3417.64 Mn in 2027.

The Mixed Reality market is expected to see significant CAGR growth over the coming years, at 53.9%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

HTC Corporation, Microsoft Corporation, Facebook Inc., Apple Inc., Google Inc., Intel Corporation, Accenture, Dell Technologies are some of the major players in the global market.

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Published Date:  Dec 2019
Category:  Technology & Media
Report ID:   60132
Report Format:   PDF
Pages:   120
Rating:    4.2 (58)
Delivery Time: 24 Hours to 48 Hours   
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