Global Mixed Reality Market Expected to Grow at a CAGR of 53.9% during the Forecast Period

The latest market report published by Credence Research, Inc. “Mixed Reality Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the mixed reality market was valued at US$ 75 Mn in 2018 and expected to reach US$ 3417.64 Mn at a CAGR of 53.9% during the forecast period from 2019 to 2027.

Market Insights

Investment in platforms, devices and software ecosystem will spur revenue growth throughout the forecast period. 

Mixed reality represents the controlled collision of Augmented Reality (AR), Virtual Reality (VR) and Internet of Things technology. Mixed reality merges both digital and physical objects together and their data can co-exist and interact with each other. The mixed reality market growth is fueled by factors including investments in devices, platforms, and software system, in order to replace keyboards and display panels with completely new pattern for communication and collaboration.

The combination of factors include reduced call out time for maintenance, enhanced quality control, improved employee training process, the surge in adoption of mixed reality in games and entertainment industry and minimization of skilled labour shortage among others are collectively bolstering the mixed reality market growth.

 

Industrial Developments

• In February 2019, Microsoft launched HoloLens 2, a next-gen wearable holographic smart glasses, which offers immersive experience and cloud and AI services from Microsoft.

Key Market Movements

• Globally, the mixed reality market is growing at a CAGR of more than 45% for the period from 2019 to 2027

• North America is leading the mixed reality market in terms of revenue with more than 30% of market revenue. This can be associated with the rising adoption of mixed reality devices in industries such as media & entertainment, and construction among others. In addition, advances in technology including 5G and artificial intelligence (AI) are bolstering the market growth.

• Growing awareness of advanced technology along with content availability, are some of the key driving forces of the mixed reality market.

• MR is in its emerging stage and companies are increasingly investing in R&D operations and setting up centers to develop and analyze innovative technologies and gain a competitive advantage.

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.

 

OUR Website: Credence Research – Market Research Consulting Firm San Jose (CA) USA

Our Blog:  Home – Target Market Size

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