The combination of mixed reality is composed of real and virtual worlds, in order to provide innovative atmosphere and visualizations where digital and physical objects interact in the real world. Mixed reality does not take place in either a physical or virtual world, however, it is a hybrid of reality and virtual reality. It encompasses both augmented reality and augmented virtuality through immersive technology. Mixed reality finds applications in a variety of sectors including automotive & aerospace, entertainment, healthcare, e-commerce & reality. North America holds a dominant position in the global mixed reality market with high adoption of mixed reality in healthcare, automotive, and entertainment sectors. There is a slow adoption of mixed reality technology in Asia Pacific.
Rising adoption of mixed reality in healthcare and medical sectors is expected to drive growth of the global mixed reality market during the forecast period. Video game companies are increasingly adopting MR technology, in order to create games that are realistic and offer to enhance experience. A plethora of PCs and mobile games available in the market use augmented reality though many gamers are expected to opt for more interactive and entertaining playing games with support devices. Mixed reality has revolutionized the gaming industry and has also given a platform to be a part of virtual world with a realistic experience without actually being present at any specific location or open field. Moreover, augmented reality technology could offer immersive experience for movie reviewers of the future, 3-D film characters could appear in front of viewers, or at their side, as the story unfolds; the viewer could interact with the movie characters. For instance, Magic Leap, an augmented reality company, offers technology that shines on the retina of the user and allows interaction between the fictional characters and the real world. Thus, these factors are expected to support growth of the market during the forecast period.
Increasing demand from education sector is expected to drive the growth of mixed reality during the forecast period. Along with gaming, medical, automotive, and entertainment, education sector is another major source of opportunities for market players. The use of mixed reality in education sector will help students in numerous ways. It could grant students extra digital information about any subject and make complex information easier to understand. It can also enhance interaction between students and teachers by incorporating 3-dimensional models. Furthermore, educational institutions can include variety activities including hand exercises, manual training, quiz solving, etc. to help students better understand any lesson.
This report segments the global mixed reality market on the basis of by component type, by application, and region. On the basis of component type, the global mixed reality market is segmented into hardware and software. On the basis of application, global mixed reality market is segmented into aerospace & automotive, healthcare, entertainment and e-commerce & retail. On the basis of region, global mixed reality market is segmented into North America, Latin America, Europe, APAC, Middle East and Africa.
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