Key Market Insights

Growing popularity of 5G & IoT technology will spur the market growth

The global mixed reality market is growing competently, and accounted for US$ 165 Mn in 2021 and is expected to grow to US$ 7518.80 Mn in 2030 at a CAGR of 40% throughout the forecast period 2023 to 2030.

Mixed reality is an interdisciplinary field involving computer graphics, signal processing, computer apparition, user interfaces, mobile computing, wearable computing, information visualization, and the design of displays and sensors. Mixed reality concepts are increasingly being adopted by various industries including automotive, healthcare, and office environments.

The growing popularity of 5G technology, IoT technology and availability of low-cost hardware among others have an encouraging impact on the growth of mixed reality market. However, new business products are counting profoundly on the customer market but in the upcoming years, Bring Your Own Device (BYOD) trend is expected to gain more popularity within the mixed reality market.

Component Analysis

Increased investment flows by major players will shoot revenue growth during the forecast period

The hardware segment is the highest revenue contributing segment, accounting for more than 50% of the total market revenue generated worldwide. This is due to the development of advanced mixed reality hardware components such as sensors, processors, and displays among others. Companies such as HTC, Microsoft, and Facebook among others are investing heavily in this technology.

In contrast, Software is expected to register the fastest growth during the forecast period. The growing inclination towards augmented reality, virtual reality, and internet of things technology and their adoption in various enterprises are acting as a major driving force. For Instance, The WaveVR has developed a virtual reality concert platform which allows customers to watch musical performances when paired with the HTC Vive, it allows them to DJ their own set in a virtual venue.

Regional Analysis

Increasing adoption of technologically advanced solutions, the growing emphasis on digitalization and artificial intelligence holds the U.S. in dominant position

In 2021, North America appeared to be the largest contributing region in the mixed reality market accounting for more than 1/3rd of the global revenue. North America expected to continue its dominance throughout the forecast period trailed by Europe. This is due to an increase in technology adoption of mixed reality devices, 5G technology and artificial intelligence.

In contrast, the Asia Pacific region is expected to register the highest growth throughout the forecast period. Owing to a surge in adoption of advanced technology, increase in application areas and proliferation of smartphone devices in the emerging economies such as China and India. In addition, the penetration of mixed reality in education technology is expected to further boost the mixed reality market growth.

Increased research and development with strong product portfolio in the developed regions

Top manufacturers are focusing on developing advanced products for application in various industries. The developers are entering new partnership agreements, product development, mergers and acquisitions, and improved R&D. This in turn, will increase the expansion of the mixed reality market in the emerging nations in the near future.

List of Companies Covered:

• HTC Corporation
• Microsoft Corporation
• Facebook, Inc.
• Apple, Inc.
• Google, Inc.
• Intel Corporation
• Accenture
• Dell Technologies
• Magic Leap, Inc.
• Amber Garage, Inc.

Key Industry Development:

• In April 2016, BMW Group launched a mixed reality system integrated with their automobile design which has been developed wholly using the equipment from the computer gaming industry. This system promises noteworthy benefits over the virtual reality systems that have existed to date, thereby delivering virtual reality on developer workstations.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Mixed Reality market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Mixed Reality market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Mixed Reality market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Mixed Reality market?
• Which is the largest regional market for Mixed Reality market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Mixed Reality market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Mixed Reality market worldwide?