Mixed Reality Market categorizes global market by Components (Hardware and Software), Application (Industrial, Aerospace & Defense, Medical, Architecture, Consumer, and Others), By Device (Head-Mounted Display-Wired and Wireless) & Geography
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The mixed reality marketwas valued at USD 48.1 Million in 2016 and is expected to reach USD 453.4 Million by 2020, at a CAGR of 75.2% during the forecast period. The penetration of head-mounted display devices in the gaming, sports, and entertainment space; evolution of hardware and software components for reality technologies; and increase in internet connectivity are the major factors driving the mixed reality market.
Research methodology includes the use of primary and secondary data. Both top-down and bottom-up approaches were used to estimate and validate the size of the market, as well as that of the other dependent submarkets, in the overall mixed reality market.
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Secondary sources also consisted of AR/VR Association, EuroVR Association, Consumer Electronics Show, and Mobile World Congress.
This report covers the mixed reality market based on component, device, application, and geography. Industrial application is expected to hold the largest share of the overall mixed reality market during the forecast period.
Major factors contributing to the growth of this market include the increased adoption of head-mounted displays for industrial applications, growing use of advanced reality technologies for employee training, and extensive research and development activities to launch new mixed reality products.
Research methodology includes the study of annual and financial reports of the top market players, and extensive interviews with industry leaders such as CEOs, VPs, directors, and marketing executives—for key insights. All the percentage shares and breakdowns have been determined using secondary sources and verified through primary sources.
All possible parameters that affect the markets covered in this research study were accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
North America is expected to lead the mixed reality market in terms of size due the significantly high adoption of mixed reality products in this region. Technological advancements and product launches by players in this region are likely to contribute to the growth of this market.
The presence of major mixed reality companies, such as Microsoft Corporation (US), Atheer, Inc. (US), DAQRI LLC (US), Eon Reality, Inc. (US), Magic Leap, Inc. (US), and Meta Company (US), in this region is also expected to drive market growth.
The head-mounted display (HMD) wireless segment is expected to record the highest growth rate in the mixed reality market during the forecast period. The major factor attributed to the growth of this market is the increasing demand for wireless HMD devices which provide enhanced convenience to users while visualizing images (HMD wired devices could lead to user discomfort).
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