Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Insight- Global Mixed Reality Market

Market Overview

Mixed reality (MR) is the combination 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.

The global mixed reality market was valued for US$ 217.50 Mn in 2019 is expected to exhibit a CAGR of 40.9% during the forecast period

Market Dynamics- Drivers

  1. 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. Furthermore, MR is used in healthcare organizations to formulate their existing processes more accurately and effectively. Thus, these factors are expected to support growth of the market during the forecast period.

  1. Instructive user experience in e-commerce shopping and retail is expected to propel the global mixed reality market growth over the forecast period

Rising expectations from users to experience and feel goods in reality, leading to development of MR devices. These devices create a strong illusion of real-life shopping and retail experience. Majority of retailers are using this technology to provide their customers with an interactive experience, which is taking shopping to new edge. For instance, if a consumer needs a pair of shoes urgently, he or she can use the MR device to point to the nearby shoe stores and browse the stock before heading over in person. This helps consumers save time and retailers match up with the right customers. There are numerous barcode apps available that let customers scan codes and read more about the product. Moreover, incorporation of mixed reality augments online shopping experience. For instance, car manufacturers can create a virtual manual, enable owners to visualize 3D information about everything from the functions of the buttons on the dash to the location of the coolant reservoir. The retail sector using mixed and augmented reality for the marketing of products is a new concept, although the industry is expected to witness the significant growth of successful campaigns in the future.

North America region dominated the global mixed reality market in 2019, accounting for 45.6% share in terms of value, followed by Asia-Pacific and Europe, respectively

Mixed Reality  | Coherent Market Insights

Source: Coherent Market Insights

Market Dynamics- Restraints

  1. Financial constraints and privacy issues are expected to hamper the global mixed reality market growth over the forecast period

MR technology is a cutting-edge technology, which is why it requires significant investments in infrastructure and R&D to develop advanced MR devices. Currently, organizations are facing financial issues due to high costs associated with implantation of MR technology. However, this cost varies according to different companies and industries and can be measured differently. Most companies in the MR market face uncertainty issues while assessing the financial outcomes of MR projects that could increase risk. Moreover, privacy concern is another factor hindering adoption of MR technology. MR complicates intellectual property law by gathering and potentially transforming copyrighted or trademarked material that appears in the real world. For instance, recording copyrighted material expected constitutes copying, for purposes of copyright violation.

  1. Technical issues regarding MR are expected to restrain growth of the global mixed reality market growth during the forecast period

There are some technical issues arising with mixed reality despite being highly advanced. Limited battery life and image latency issues are major technical difficulties faced by end users, which in turn, is expected to hamper the global mixed reality market growth during the forecast period.

Market Opportunities

  1. Rising demand from automotive sector can present major growth opportunities

Mixed reality is expected to witness massive demand from automotive industry thereby driving the overall market growth. Numerous automotive companies across the globe have started implementing AR in their advertising campaigns. For instance, in April 2016, BMW Group (Germany) introduced a mixed reality system into vehicle development, which has been developed with the help of components from the computer games industry. This system bids significant advantages over the VR systems that have existed to date, thereby making virtual reality on developer workstations obsolete.

  1. Increasing government investments in the field of MR can pose excellent growth opportunities

Governments of various countries are focused on investing in mixed reality technology after acknowledging its several benefits. For instance, in April 2018, the U.K. Government invested US$ 35 million (€ 33 million), as a part of its industrial development strategy, in AR, VR, and MR. Such significant investments in the U.K. is expected to create major opportunities for market players in the near future.

Mixed Reality  | Coherent Market Insights

Source: Coherent Market Insights

Market Trends

  1. North America Trends

Rising adoption of MR in automobile design safety technologies

In North America, automotive as well as aerospace and defense segments offer huge opportunities for the MR industry to grow. VR technologies are being actively used in automotive response, owing to rising number of models and equipment variants in the vehicle design and development process. For instance, automobile companies could use the spatial MR to put across virtual data on actual vehicle design models that allow the analyses of components. As a result of this, the time and cost required for the product development would be saved. For instance, Volvo Car Corporation has started deploying Microsoft’s HoloLens technology in car designing to generate 3D models enabling augmented designing and cost & time efficiency thereby optimizing processes overall.

  1. Europe Trends

Rising adoption of mixed reality in interior designing and architecture sector

Europe mixed reality market is witnessing emerging trends of using MR in architecture and interior designing sectors. The trend is expected to continue and boost the market growth in the near future. Mixed reality is used in architecture in which layering of computer simulation models over the physical arrangement of present surroundings and using that information to improve process efficiency. This technology can dramatically enhance the standard supply chain. Moreover, MR technology can repair product or reverse logistics processes in a simpler way. It also could help entry-level tech to instantly identify problems and incorrect circuits with a given product. For instance, in 2013, IKEA furniture retailer company introduced an augmented reality catalog app for customers to test and view different products in real-time.

Segment Information:

In global mixed reality market, by component segment, software sub-segment dominated the global mixed reality market in 2019, accounting for 89.5% share in terms of value, followed by hardware.

Mixed Reality  | Coherent Market Insights

Source: Coherent Market Insights

Competitive Section

Key players operating in the global mixed reality market are Microsoft Corporation, Osterhout Design Group, Facebook Inc., Meta Company, Samsung Electronics Co, Ltd., Magic Leap, Inc., HTC Corporation, Canon Inc., Seiko Epson Corporation, Daqri LLC, and Recon Instruments, Inc.

Key Developments

  1. Major companies in the market are focused on research and development activities, in order to strengthen its position in the market. For instance, in March 2019, Microsoft Corporation received a patent for its next-gen mixed reality headset from the U.S. Patent Office.
  2. Key players in the market are involved in product launches, in order to expand product portfolio. For instance, in January 2017, Osterhout Design Group introduced its Snapdragon 835-based mixed reality glasses at Consumer Electronics Show (CES) 2017.

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.

Market Dynamics

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.

Market Taxonomy

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.    

Key features of the study:

  • This report provides an in-depth analysis of the global mixed reality market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global mixed reality market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global mixed reality market include are Microsoft Corporation, Osterhout Design Group, Facebook Inc., Meta Company, Samsung Electronics Co, Ltd., Magic Leap, Inc., HTC Corporation, Canon Inc., Seiko Epson Corporation, Daqri LLC, and Recon Instruments, Inc.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global mixed reality market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global mixed reality market.

Detailed Segmentation:

  1. Global Mixed Reality Market, By Component Type
  • Hardware
  • Software
  1. Global Mixed Reality Market , By Application
  • Aerospace & Automotive
  • Healthcare
  • Entertainment
  • E-commerce & Retail
  1. Global Mixed Reality Market, By Region
  • North America
  • Latin America
  • Europe
  • APAC
  • Middle East and Africa
  • Company Profiles
    • Microsoft Corporation *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Osterhout Design Group
    •  Facebook Inc.
    •  Meta Company
    • Samsung Electronics Co, Ltd.
    • Magic Leap, Inc.
    • HTC Corporation
    • Canon Inc.
    • Seiko Epson Corporation
    •  Daqri LLC
    • Recon Instruments, Inc.

*Browse all the market data tables and figures on “Global Mixed Reality Market- Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Component Type
      • Market Snippet, Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Mixed Reality Market, By Component Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Hardware
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Software
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global Mixed Reality Market, By  Application, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Aerospace & Automotive
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Healthcare
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Entertainment
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • E-commerce & Retail
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Mixed Reality Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Component Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Component Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • APAC
      • Regional Trends
      • Market Size and Forecast, By Component Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Component Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Component Type, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  7. Competitive Landscape
    • Company Profiles
      • Microsoft Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Osterhout Design Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Facebook Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Meta Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Samsung Electronics Co, Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Magic Leap, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • HTC Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Canon Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Seiko Epson Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Daqri LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Recon Instruments, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on “Global Mixed Reality Market-forecast to 2027”.

Frequently Asked Questions

The global mixed reality market is estimated to reach US$ 3,387.5 Million by 2027.
Major players operating in the global mixed reality market include Microsoft Corporation, Osterhout Design Group, Facebook Inc., Meta Company, Samsung Electronics Co, Ltd., Magic Leap, Inc., HTC Corporation, Canon Inc., Seiko Epson Corporation, Daqri LLC, and Recon Instruments, Inc.
Technical issues regarding MR is one of the major factors that is expected to hamper growth of the market over the forecast period.
Rising adoption of mixed reality in healthcare and medical sectors is one of the major factors that is expected to propel growth of the market over the forecast period.
The global mixed reality market is estimated to exhibit a CAGR of 40.9% during the forecast period (2019-2027).
Among regions, North Americais expected to hold a dominant position in the global mixed reality market in 2019, accounting for 45.6% share, in terms of value, followed by Asia Pacific and Europe, respectively.
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