Market Synopsis
The global mixed reality market 2020, according to the Market Research Future report, is predicted to expand at 43.28% CAGR over the assessment period.
Market Highlights
The consumer demand for mixed reality is predicted to observe substantial growth over the projected period. Throughout the study era, North America was projected to dominate the mixed-reality industry led by Europe. Market development is driven by the relatively high acceptance of mixed reality products in North America and the introduction of innovative mixed reality devices by primary players in this market. The virtual reality market is strongly affected by the growing demand for AR / VR head-mounted displays in the gaming and entertainment industry and app creation as well as hardware modules for immersive user experience. Conversely, the limited battery life and image latency issues in mixed reality devices can disrupt market growth.
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Market Segmentation
Application, components, and product are comprised as the segment study of the mixed reality global market.
Component-based segments of the global mixed reality market are hardware and software. Over the analysis period, the software segment can gain substantial momentum for the industry.
The product-based mixed reality market categories include computer monitor, laptop, HMD monitor, a head-up display, and tablet PC. The increase in the support provided by a computer monitor, smartphone, along with HMD monitor, that press for the expansion of the study period's mixed reality market.
International application-based mixed reality industry segments include automobile, medical, retail, education, military, gaming & entertainment, IT, and architecture. The growth in the utility of mixed reality technologies in cash-rich industries, such as IT and entertainment, will promote the development of the global mixed reality market through the review period. The millennial's strong demand for robust and stratifying gaming experience will bring traction to the global virtual reality industry for the years ahead.
Regional Analysis
The mixed reality industry was segmented by area into Asia-Pacific, North America, Europe, Middle East & Africa and South America.
The growing proliferation of AR & VR apps for virtual reality applications in North America is driving the consumer development of the mixed reality industry. Superior technology and substantial R&D spending will fuel the growth of North America's mixed-reality market. In addition to these aspects, the presence of key players such as Intel Corporation, Microsoft Corporation, Magic Leap, Inc., and Google, Inc. is predicted to fuel the growth of the market in this region. In North America, the US leads the market, led by Canada. Specific factors that can drive the regional market are the strong propensity for the introduction of the new technologies in a particular area to enable better service. Reputed businesses in the field and their trends will further grow the mixed reality market. Across Europe, it is noted that the emergence of the mixed-reality industry has comparable growth factors to those in North America.
Asia-Pacific is expected to retain a significant market share. Over the prediction timeframe, Japan is projected to lead the Asia-Pacific mixed reality market led by China. Also, several companies introduce mixed reality technologies that allow for fast outcomes with an enhanced experience. It can also underpin the growth of the virtual reality industry in the Asia Pacific over the evaluation era. India and Japan are observed to capture the global mixed reality market with the highest growth potential.
Competitive Dashboard
The major players of global mixed reality market are Seiko Epson Corporation (Japan), Accenture PLC (Ireland), HTC Corporation (Taiwan), Samsung Electronics Co., Ltd (South Korea), Magic Leap, Inc (US), Intel Corporation (US), Google LLC (US), Microsoft Corporation (US), Sony Corporation (Japan), Facebook Inc. (US).
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