Mixed Reality Global Market- Overview
Independent, and hybrid are some other popular terms of mixed reality. It is called independent or hybrid technology because it combines best of virtual and augmented reality technology and covers all possible variations of real and virtual objects. Businesses, developers, and industry verticals such as medical, architecture, and education are exploring various ways to utilize these unique features of mixed reality to enhance their operations.
Major companies such as Google, Apple, Microsoft, and Intel among with small players such as Magic Leap, and Meta, are aggressively investing in exploring and developing solutions from mixed reality technology and is building a strong competitive environment. Microsoft introduced a product named “HoloLens” developed from mixed reality technology. Three distinct type of sensors and five kind of cameras are its major component supporting the product to understand three dimensional space. These investments by technology giants is expected to drive the market in coming years.
The Global Mixed Reality Market is expected to get high growth in coming years. The rise in commercialization of head mounted displays in gaming & entertainment sector, developing IoT technology and developing consumer electronics sector is expected to drive the market during forecast period 2016-2022. However, less awareness & technical expertise and high cost of devices are some of the factors hampering the market growth.
Some of the major players in Global Mixed Reality Market include 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.
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December 2017 – Acer, a multinational electronic products manufacturer, in collaboration with Microsoft introduced Windows mixed reality headsets for Indian market. This headsets would enable customers to interact with software using gesture, and voice while using mice, keyboard and controllers.
December 2017 – Microsoft introduced a new cloud platform named “Simplygon Cloud”. This cloud platform is designed to support all major 3D mixed reality platforms such as Windows, iOS and Android.
December 2017 – Microsoft partnership with four German company namely Holo-Light, ANIMA RES, 3spin, and Axians, dealing in mixed reality technology. This partnership is expected to provide training to local customers which is also supposed to speed up the adoption of mixed reality based HoloLens in Germany. This also helps Microsoft in expanding their business in German market.
Mixed Reality Global Market- Segmentation
The Mixed Reality Market can be classified into 4 key segments as follows:
- Segmentation by Display Technologies: Head-up display, HMD, software, Tablet/PC, and PDAs
- Segmentation by Component: Hardware and Software
- Segmentation by End-User: Manufacturing, Education, IT, Automotive, Military, Gaming & Entertainment, Medical, and Architecture.
- Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
Mixed Reality Global Market- Regional Analysis
North America has dominated the mixed reality market in 2016. The technology advancement, and rising adoption of mixed reality products for entertainment applications are some factors contributed to this market growth in the region. Major players located in North America such as Microsoft, Google, Intel and others are investing heavily to introduce innovative products in the market, which is one of major factor driving the market in the region. Asia-Pacific is expected to grow with highest CAGR during the forecast period. China is expected to be the largest market for mixed reality in coming years owing to the factors such as government of China is supporting development in virtual reality industry and advancement in technology. Europe on the other hand, is expected to grow with significant growth rate during forecast period 2016-2022.
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