Mixed Reality – Bringing the Real and Virtual World Together

Introduction:

Market research future published a half-cooked research report on Mixed Reality market. The global market for Mixed Reality market is expected to grow over the CAGR of around ~27% during the period 2016 to 2022 and expected to grow at market size of USD ~212 million in 2022.

Microsoft Corporation has brought a new mixed reality device named “HoloLens”, a hologram technology to provide 3D digital content to the physical world. The two technologies virtual reality (VR) and augmented reality (AR) bring simulation and visualization to the digital world.

Microsoft has also announced that it will bring mixed reality technology to PC in upcoming years. Other industries such as HTC Corporation, Sony, and Google among others are building new 3D environment to the consumer world.

Mixed Reality Industry:

The Mixed Reality can be segmented by component, by product and by applications. By components, hardware and software are used to produce technically advanced mixed reality headsets. Various application sectors such as manufacturing, education, IT, automotive, military, gaming & entertainment, medical, and architecture among others are showing fruitful opportunities for the MR market.

The major participants of this market are Intel Corporation (U.S.), Seiko Epson Corporation (Japan), Microsoft Corporation (U.S.), Accenture PLC (U.S.), Google, Inc. (U.S.), Sony corporation (Japan), Samsung (South Korea), Facebook, Inc. (U.S.), Magic leap, Inc. (U.S.) and HTC Corporation (Taiwan) among others.

Global Scenario:

Mixed reality is a technology which merges virtual and augmented reality visualization to provide interactive real world environment to the users while playing games or watching movies. It provides an illusion to real world which is difficult to break and thereby provide full entertainment to the users. The promising feature of mixed reality is its flexibility; user can view the real world as well as can imagine physical experience at the same time.

The global Mixed Reality market has been evaluated as growing market and expected that the market will touch high growth figures in upcoming years.

Market Research Analysis:

At present, the mixed reality combines virtual reality and augmented reality technology to bring advanced and interactive and real visualization into gaming industry. Its 3D immersive technology is influencing other industrial sectors such as healthcare, military or manufacturing to utilize this technology for improving their operations. The growing smartphone technology is also fuelling the market growth of mixed reality as user can connect their mobile media, games or apps with the MR devices.

However, weak graphics, high cost of components and lack of technical expertise is the current challenges which are hampering the market growth.

Segments for Mixed Reality Market:

Segmentation by Components

  • Hardware
  • Software

Segmentation by Product

  • Head-up display HMD display
  • smartphone/tablet PC
  • computer display

Segmentation by Application

  • Manufacturing
  • Education
  • IT
  • Automotive
  • Military
  • gaming & entertainment
  • medical
  • architecture

Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:

“Growing adoption of mixed reality devices in gaming is the key trend for this market.  Due to raising internet connectivity and penetration of head mounted display devices in military & aerospace and medical sector. Manufacturing industries are investing more in the market and is developing mixed reality components and devices to serve the growing demand and therefore, America and Asia-pacific countries are taking many initiatives to build strong market of Mixed Reality in the region “

According to the report, In Europe region is growing due to increasing technological advancement and evolution of hardware and software components is raising mixed reality market in the region. Further, the report states lack of technical expertise, limited battery life and weak graphical interface is a challenge to the market growth.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Market Research Future

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