Increasing need for robust design and visual platforms has supported the growth of holographic displays, high definition devices, virtual reality and augmented reality. Mixed Reality is one of the latest in this pipeline offering new growth opportunities to the technology companies and offering robust interactive platforms to the businesses and individual consumers.
Hybrid Reality is the other term for Mixed Reality for the system of a combination of real and virtual worlds. This concepts aims at producing new environments and visualizations in which both physical as well as digital objects co-exist and interact in real time. The evolution of this theme has been due to the developing new solutions in technology and with an aim of delivering enriched experiences to the global customers.
Estimations, Future Projections and Scope of Mixed Reality:
From being $417.3 Million in 2015, the Mixed Reality Market is projected to grow to $9,982.8 Million by 2021, according to IndustryARC, owing to the vast applications of this concept in various end user industries be it education, business, military, gaming, manufacture or more. Gaming and entertainment together are noted to be the top selling application type among all the applications of the Mixed Reality Market; which occupied a market share of 32% in terms of revenue in 2015. 2016 has seen further improvement in sales in this application. With the kind of rising demand for games and other entertainment features, IndustryARC estimates further rise in growth status in the coming decade.
With reference to the above, Infotainment & Gaming becomes the top leading end user of the market. On the other hand, based on display device type, Head Mounted Displays are inclined towards dominating the Mixed Reality Market. CAVE, Personal Digital Assistant, Head Up Display (HUD) and Eyeglasses are the other device types of supporting Mixed Reality with quality prominence received so far. With the increasing innovation, these are as well set to grow at healthy CAGR rates.
Keen interest taking my magnificent number of startups in the Mixed Reality Market is a boon to this industry. Their rising support and funding into new research and development has been adding leverage to the Global Mixed Reality Market. Investors and potential players are identifying obstacles and giving it their best shot to provide smart solutions in order to bring mixed reality into the best possible reality existence.
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Geographical Brief of the Industry:
North America contributes to a wide and significant share in the net sales of the total mixed reality market, owing to the growing awareness and application of Mixed Reality devices, products and applications in various industries.
On the other hand, Europe is projected to have the highest growth in the next few years, followed by Asia-pacific regions. Increasing awareness of these products around the world and rising demand for the devices has led to the eventual dropping of prices. This fall will further boost sales and revenue generation throughout the globe.
Report Scope/ Segmentation:
The Mixed Reality Market has been extensively studied based on several differentiating parameters to provide a comprehensive overview. The market has been segmented based on following parameters: Technology, End User Industry, Application, Display Device and Geography. Each of the categories has been further segregated into specific sub-divisions to consider the dynamics associated with this industry. The End users considered in the report includes gaming & entertainment, aerospace, automotive, medical, defense and manufacturing space. The study also provides in-depth qualitative and quantitative analysis related to mixed reality market based on regions such as Americas, Europe, Asia-Pacific (APAC) and Rest of the World (RoW).
Vendors and Their High Strengths:
Facebook Inc. (U.S.), Samsung Electronics Co, Ltd. (South Korea), HTC Corp. (Taiwan), Seiko Epson Corp (Japan) and Recon Instruments, Inc. (Canada) are one among the top players of the Mixed Reality Market. The analysis of all these vendors are included in this market research report by IndustryARC; with additional 40 players’ analyzed as well.
To conclude, this market is driven by increasing application base and expected launch of new products in the coming years. The market is characterized with high importance of innovation, R&D spending and less concentration of companies. Development of MR devices and software is set to pace up with mounting funding from both public and private players.
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