Mixed Reality Market 2023 – Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Market Size & Forecast 2030
Page: 215 | Report Code: ICTM221205 | Research Suite: Report (PDF) & Market Data (Excel)
NOTE: Due to exhaustive nature of content, full ToC can't be uploaded. Please request Sample Pages to receive full table of content.
Mixed Reality Insight:
Mixed Reality (MR) is a complicated
technology that blends the physical world with the virtual world in real time,
creating a replacement environment where digital and physical objects can
coexist and interact with one another. MR is a combination of Augmented Reality
(AR) and Virtual Reality (VR) technologies, where AR overlays digital objects
within the world, while VR creates a totally immersive virtual environment. The
MR experience is achieved through specialized headsets or glasses, like the
Microsoft HoloLens or the Magic Leap One, that use sensors and cameras to trace
the user's movements and surroundings. This enables the device to map the
real-world environment and place digital objects accurately within the user's
field of view.
Mixed Reality has many practical
applications in various fields, including gaming, education, healthcare, and
manufacturing. For instance, it is often utilized in architecture to see
building designs within the world, or in healthcare to supply surgeons with a
3D view of a patient's anatomy during surgery.
Mixed Reality Market
The Mixed Reality market is predicted to grow significantly within the coming years, driven by the increasing adoption of the technology across various industries. The worldwide Mixed Reality market size is projected to succeed in $255.4 billion by 2030, growing at a CAGR of 75.2% during the forecast period of 2023 to 2030, against an earlier estimation of $2.9billion in 2022. The gaming industry is predicted to be the most important application segment of the Mixed Reality market. In terms of hardware, the Mixed Reality market is dominated by head-mounted displays (HMDs), which are used to create an immersive experience. North America is predicted to be the most important marketplace for Mixed Reality due to the presence of key players within the region. However, the Asia-Pacific region is predicted to grow at the very best CAGR during the forecast period due to increasing investments in technology by countries like China, India, and Japan.
Mixed Reality Market Growth Drivers:
As consumers and businesses seek more
engaging and interactive experiences, Mixed Reality is becoming increasingly
popular as how to make immersive environments and enhance traditional content.
The event of the latest sensors, cameras, and processing power is driving the
expansion of the Mixed Reality market by improving the accuracy and realism of
the experience.
Mixed Reality technology is being
applied across a good range of industries, including gaming, healthcare,
education, and retail, which is expanding the market and driving adoption.
Large tech companies and investors are pouring more resources into Mixed Reality, which is driving innovation and accelerating the event of the latest products and solutions. The supply of affordable head-mounted displays (HMDs) and other Mixed Reality devices are making the technology more accessible to consumers and businesses, which is driving adoption and fueling the market growth.
Mixed Reality Market Segmentation:
1. By Hardware: Head-Mounted Displays (HMDs), Cameras
& Sensors, Gesture Recognition Devices
2. By Software: Application Software, Cloud-Based
Services, Software Development Kits (SDKs)
3. By Application: Gaming & Entertainment, Healthcare,
Education & Training, Automotive, Retail & E-Commerce, Aerospace &
Defense, Others
4. By Region: North America, Europe, Asia-Pacific, Rest
of the World (RoW)
Mixed Reality Market Hardware Segment
Review
The HMDs segment holds the most
important share of the market thanks to its primary role in creating the
immersive Mixed Reality experience. They're used to overlay digital content
onto the important world, and their accuracy and performance are critical for
delivering a high-quality Mixed Reality experience. The market size is
projected to grow at a CAGR of 68.1% during the forecast period of 2023 to 2030
driven by the increasing demand for immersive and interactive experiences
across various industries, including gaming, healthcare, and education. The
cameras &sensors segment is expected to grow rapidly due to the increasing
demand for accurate spatial mapping and tracking of the user's environment.
Gesture recognition devices also are gaining popularity in how to interact with
the Mixed Reality environment, and the development of the latest and improved
devices is driving the expansion of this segment.
Mixed Reality Market Software Segment
Review
The application software segment holds
the most important share of the market because it is liable for creating the
content and experiences that users interact with during a Mixed Reality
environment. The market size is projected to grow at a CAGR of 54.6% during the
forecast period of 2023 to 2030 driven by the increasing demand for innovative
and interesting Mixed Reality content across various industries, including
gaming, healthcare, and education. Valve Corporation, Microsoft, Magic Leap,
and Google are some major players in the segment.
Cloud-based services also are gaining
popularity in how to deliver Mixed Reality content and services to users with
the real-time operation and analysis of user data, which can be used to create
more personalized and interactive experiences. Software development kits (SDKs)
are a crucial component of the Mixed Reality software market, as they supply
developers with the tools and resources needed to make new and innovative Mixed
Reality applications and experiences.
Mixed Reality Market Application
Segment Review
The gaming and entertainment segment
holds the most important share of the market thanks to the increasing demand
for immersive and interactive gaming experiences. The market size is projected
to grow at a CAGR of 40.6% during the forecast period of 2023 to 2030 driven by
the increasing adoption of Mixed Reality technology by game developers because
it provides a more immersive and interesting gaming experience for players. Valve
Corporation, Oculus, Sony Interactive Entertainment, HTC, Microsoft, Magic
Leap, and Google are some key players in the segment.
The healthcare segment is predicted to
grow rapidly thanks to the increasing demand for Mixed Reality applications in
medical training, surgery, and patient care which may provide healthcare
professionals with a more interactive and realistic simulation environment
helping improve patient outcomes. Mixed Reality technology can help students
visualize complex concepts in a more intuitive and interactive way, which may
improve learning outcomes. The automotive segment is additionally growing
rapidly in how to enhance design and manufacturing processes and enhance the
customer experience. AccuVein, CAE Healthcare, Philips Healthcare, Medical
Realities, Osso VR, Surgical Theater, EchoPixel, and Atheer are some of the
major players operating in the market in these segments.
The retail and e-commerce segments are
expected to be major players in the mixed reality market as they can provide an
immersive shopping experience that allows customers to visualize products in a
more realistic way before purchasing them helping to increase customer
engagement, satisfaction, and ultimately sales. Ikea, Sephora, Lowe, and Amazon
are some key players working in the Retail & E-Commerce segment.
Mixed reality technology has the potential to revolutionize the way that aerospace and defense companies design, build, and maintain complex systems. Training simulations can provide a more immersive and realistic training experience, allowing trainees to practice in a simulated environment that closely mirrors real-world conditions. Lockheed Martin, Boeing, Raytheon, and BAE Systems are some profound players in the Aerospace & Defense segment.
Mixed Reality Market Regional Synopsis:
North America is expected to hold 38.5%
i.e., the largest share of the global Mixed Reality market due to the presence
of major technology companies and high investment in research and development
activities with well-established technology infrastructure and favorable
government initiatives to promote technological advancements. The market is
expectedto be growing at a CAGR of around 49.4% from 2023 to 2030with the USA being
the major contributor. Some of the key players in this region include Microsoft
Corporation, Magic Leap, Inc., and Google LLC.
Europe is expected to show significant
growth at a CAGR of around 50.7% (2023-2030) in the Mixed Reality market due to
the increasing adoption of technology in various industries such as healthcare,
automotive, and entertainment. The region has several prominent players such as
Vuzix Corporation, Avegant Corporation, and DAQRI LLC, and is expected to
witness increased investment in research and development activities with Germany,
France, and the UK being the major contributors.
The Asia-Pacific region is expected to
show the highest growth rate i.e., a CAGR of 56.1% in the market during the
forecast period (2023-2030) due to increasing investments in technology
infrastructure and the presence of a large consumer base. The region has a
growing gaming and entertainment industry and is experiencing increased
adoption of technology in the healthcare and education sectors with China,
Japan, India, and South Korea being the major contributors. Some of the key
players in this region includes HTC Corporation, Sony Corporation, and Samsung
Electronics Co., Ltd.
The Rest of the World segment includes regions such as Latin America, the Middle East, and Africa. The region is expected to show moderate growth at a CAGR of 47.9% during the forecast period (2023-2030) with Brazil and the UAE being the major contributors due to increasing investments in technological advancements and the presence of a large consumer base. Some of the key players in this region include Magic Leap, Inc., Microsoft Corporation, Google LLC, Sony Corporation, HTC Corporation, and Samsung Electronics Co., Ltd.
Mixed Reality Market Key Challenges:
The cost of Mixed Reality technology
remains high with the value of headsets, software, and hardware required,
making it difficult for little and medium-sized enterprises to adopt it.
There's a scarcity of sufficient Mixed Reality content and applications
available within the market, limiting the expansion of the industry because the
development of MR content requires a high level of experience, which isn't
widely available.
The current Mixed Reality technology
remains limited in terms of its field of view, resolution, and overall
experience which are still technical challenges that require to be addressed to
form the technology more immersive and user-friendly.
MR applications collect an outsized amount of private data, which may be a possible security risk. There also are concerns about the utilization of Mixed Reality technology in surveillance and tracking. The lack of standardization within the Mixed Reality industry may be a major challenge making it difficult for developers and consumers to know and compare different Mixed Reality products and applications.
Mixed Reality Market Key Global
Players:
The competitive landscape of the Mixed
Reality market is shaped by several factors, including:
·
The Mixed
Reality market is very technology-driven, and corporations which will offer
advanced and innovative products and solutions which will provide a far better
performance, increased functionality, and more immersive user experiences are
likely to realize a competitive advantage.
·
Companies are
forming strategic alliances to leverage each other's strengths and expertise to
develop more comprehensive and integrated solutions which also help to expand
their market reach and compete more effectively.
·
Companies
that have a robust brand image and reputation for quality and innovation are
likely to possess a competitive advantage over lesser-known brands. they're
likely to realize market share and compete more effectively if they will offer
cheaper products without sacrificing performance or quality.
·
Regulations
and standards associated with Mixed Reality technology also will play a big
role in shaping the competitive landscape where companies which will suit
regulatory requirements and meet industry standards are more likely to realize
consumer trust and compete more effectively.
Numerous players are vying for market
share and investing in new technologies and product development to stay ahead
of the curve in the market. Several key global players in the Mixed Reality
market include:
·
AccuVein
·
Amazon
·
Apple Inc.
·
Atheer
·
Avegant
Corporation
·
CAE
Healthcare
·
DAQRI LLC
·
EchoPixel
·
Facebook
Technologies LLC
·
Google LLC
·
HTC
Corporation
·
Ikea
·
Intel
Corporation
·
Lenovo Group
Limited
·
Lowe
·
Magic Leap
·
Medical
Realities
·
Meta Company
·
Microsoft
Corporation
·
Oculus
·
Osso VR
·
Philips
Healthcare
·
PTC Inc.
·
Samsung
Electronics Co., Ltd.
·
Sephora
·
Sony
Corporation
·
Sony
Interactive Entertainment
·
Surgical
Theater
·
Valve
Corporation
·
Vuzix
Corporation
The organization has been putting
vigorously in innovative work to further develop the Mixed Reality experience
and grow its piece of the pie. They have partnerships with a number of major
businesses and significant funding.
The report on
the Mixed Reality market covers the following aspects:
·
Market
Overview: A general overview of the global Mixed Reality market, including its
current size and growth projections for the future.
·
Market
Segmentation: A breakdown of the market by hardware, software, application, and
geographic region.
·
Market
Dynamics: An analysis of the key drivers, challenges, and trends affecting the
growth of the Mixed Reality market.
·
Competitive
Landscape: A comprehensive analysis of the leading players in the Mixed Reality
market, including their market share, product offerings, and key strategies.
·
Regional
Analysis: A detailed analysis of the Mixed Reality market by geographic region,
including market size, growth projections, and key trends for each region.
·
Company
Profiles: In-depth profiles of key players in the Mixed Reality market,
including their business overview, product offerings, financial performance,
and recent developments.
·
Market
Forecast: Projections for the future growth of the Mixed Reality market,
including market size, growth rate, and key trends for the next five to ten
years.
Attributes |
Details |
Base Year |
2022 |
Trend Period |
2018 – 2032 |
Forecast Period |
2023 – 2030 |
Pages |
215 |
Hardware Segment |
Head-Mounted Displays (HMDs), Cameras
& Sensors, Gesture Recognition Devices |
Software Segment |
Application Software, Cloud-Based
Services, Software Development Kits (SDKs) |
Application Segment |
Gaming & Entertainment,
Healthcare, Education & Training, Automotive, Retail & E-Commerce,
Aerospace & Defense |
Company Profiles |
Apple Inc., Facebook Technologies LLC,
Google LLC, HTC Corporation, Intel Corporation, Lenovo Group Limited, Meta
Company, Microsoft Corporation, and Others |
Edition |
4th edition |
Publication |
March 2023 |