The mixed reality market size has grown exponentially in recent years. It will grow from $3.6 billion in 2023 to $5.33 billion in 2024 at a compound annual growth rate (CAGR) of 48.1%. The growth observed during the historic period can be attributed to several factors, including industry adoption, investment, and funding, evolving consumer expectations, the emergence of augmented reality, and increased partnership initiatives.
The mixed reality market size is expected to see exponential growth in the next few years. It will grow to $25.91 billion in 2028 at a compound annual growth rate (CAGR) of 48.5%. The anticipated growth in the forecast period can be linked to factors such as the rollout of 5G networks, increasing applications in healthcare, the adoption of mixed reality (MR) for educational purposes, and the emergence of spatial computing technologies. Key trends expected during this period encompass advancements in display technologies, lighter and more comfortable hardware, spatial mapping and 3D reconstruction capabilities, and AI-powered content generation.
The anticipated expansion of 5G technology is poised to drive the growth of the mixed reality market in the foreseeable future. 5G technology, the fifth generation of mobile network technology, is distinguished by its faster data speeds, reduced latency, and enhanced connectivity to accommodate a diverse array of devices. The widespread adoption of 5G technology is attributed to complete infrastructure deployment, increased device compatibility, competitive pricing, and the broadening coverage areas. Mixed Reality further enhances 5G technology by facilitating immersive, real-time experiences such as remote collaboration, virtual events, and augmented reality applications, harnessing the high-speed, low-latency connectivity of 5G networks. For instance, in April 2023, data from 5G Americas, a US-based industry trade organization, revealed a 76% increase in global 5G wireless connections from the end of 2021 to the end of 2022, reaching 1.05 billion connections, with projections to reach 5.9 billion by the end of 2027. Hence, the widespread adoption of 5G technology is propelling the growth of the mixed reality market.
Prominent companies operating in the virtual reality market are innovating with technologies such as micro-OLED technology to establish a competitive advantage. Micro-OLED technology involves the utilization of microscopic organic light-emitting diodes to enhance display resolution and minimize motion blur in virtual reality headsets. For instance, in June 2023, Apple Inc., a US-based technology company, introduced the Vision Pro AR Headset, a spatial computer revolutionizing various aspects of work, collaboration, connectivity, entertainment, and memory reliving. The Vision Pro utilizes micro-OLED technology to deliver 23 million pixels across two displays. It is intuitively controlled by users' eyes, hands, and voice, providing access to over 1 million apps via a new App Store. Powered by VisionOS, it features a three-dimensional interface and intuitive gestures, with seamless integration of Siri for effortless control.
In February 2022, HARMAN International, a US-based subsidiary of audio electronics, acquired Apostera for an undisclosed sum. This acquisition aims to broaden HARMAN's product portfolio in automotive offerings and position the company as a leader in automotive AR/MR experience design. Apostera, based in Germany, specializes in providing mixed reality (MR) solutions for companies developing AR heads-up displays (HUDs) and navigation systems.
Major companies operating in the mixed reality market are Google Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Meta Platforms Inc, Dell Technologies Inc., Sony Corporation, Sony Corporation, Accenture, Intel Corporation, Canon Inc., Asus Tek Computer Inc, Seiko Epson Corporation, Accenture PLC, HP Development Company LP, Magic Leap Inc., Oculus VR LLC, HTC Corporation, Eon Reality Inc., Daqri LLC., Lumus Ltd., Vuzix Corporation, Sulon Technologies Inc., Amber Garage, Occipital Inc, Atheer Inc.
North America was the largest region in the mixed reality market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mixed reality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mixed reality market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Mixed reality (MR) represents a technological fusion of physical and digital realms, generating immersive and interactive experiences where real-world and virtual elements coexist and interact seamlessly in real-time. These technologies typically leverage sensors, cameras, and advanced algorithms to comprehend and map the physical environment, facilitating realistic interaction between virtual objects and real-world surfaces and objects.
The primary components of mixed reality encompass hardware and software. Hardware encompasses both external and internal devices enabling users to execute key functions such as input, output, storage, and communication. It encompasses a variety of products including head-up displays, smartphones, tablet PCs, computer displays, and HMD (Head-Mounted Display) devices, available in both wired and wireless connections. These devices find application across diverse end-user verticals such as education, engineering, entertainment, healthcare, and others.
The mixed reality market research report is one of a series of new reports that provides mixed reality market statistics, including the mixed reality industry global market size, regional shares, competitors with mixed reality market share, detailed mixed reality market segments, market trends, and opportunities, and any further data you may need to thrive in the mixed reality industry. This mixed reality market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The mixed reality market consists of revenues earned by entities by providing services such as product design and visualization, training, and simulation. The market value includes the value of related goods sold by the service provider or included within the service offering. The mixed reality market also includes sales of products including headsets, glasses, gloves, and controllers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The mixed reality market size is expected to see exponential growth in the next few years. It will grow to $25.91 billion in 2028 at a compound annual growth rate (CAGR) of 48.5%. The anticipated growth in the forecast period can be linked to factors such as the rollout of 5G networks, increasing applications in healthcare, the adoption of mixed reality (MR) for educational purposes, and the emergence of spatial computing technologies. Key trends expected during this period encompass advancements in display technologies, lighter and more comfortable hardware, spatial mapping and 3D reconstruction capabilities, and AI-powered content generation.
The anticipated expansion of 5G technology is poised to drive the growth of the mixed reality market in the foreseeable future. 5G technology, the fifth generation of mobile network technology, is distinguished by its faster data speeds, reduced latency, and enhanced connectivity to accommodate a diverse array of devices. The widespread adoption of 5G technology is attributed to complete infrastructure deployment, increased device compatibility, competitive pricing, and the broadening coverage areas. Mixed Reality further enhances 5G technology by facilitating immersive, real-time experiences such as remote collaboration, virtual events, and augmented reality applications, harnessing the high-speed, low-latency connectivity of 5G networks. For instance, in April 2023, data from 5G Americas, a US-based industry trade organization, revealed a 76% increase in global 5G wireless connections from the end of 2021 to the end of 2022, reaching 1.05 billion connections, with projections to reach 5.9 billion by the end of 2027. Hence, the widespread adoption of 5G technology is propelling the growth of the mixed reality market.
Prominent companies operating in the virtual reality market are innovating with technologies such as micro-OLED technology to establish a competitive advantage. Micro-OLED technology involves the utilization of microscopic organic light-emitting diodes to enhance display resolution and minimize motion blur in virtual reality headsets. For instance, in June 2023, Apple Inc., a US-based technology company, introduced the Vision Pro AR Headset, a spatial computer revolutionizing various aspects of work, collaboration, connectivity, entertainment, and memory reliving. The Vision Pro utilizes micro-OLED technology to deliver 23 million pixels across two displays. It is intuitively controlled by users' eyes, hands, and voice, providing access to over 1 million apps via a new App Store. Powered by VisionOS, it features a three-dimensional interface and intuitive gestures, with seamless integration of Siri for effortless control.
In February 2022, HARMAN International, a US-based subsidiary of audio electronics, acquired Apostera for an undisclosed sum. This acquisition aims to broaden HARMAN's product portfolio in automotive offerings and position the company as a leader in automotive AR/MR experience design. Apostera, based in Germany, specializes in providing mixed reality (MR) solutions for companies developing AR heads-up displays (HUDs) and navigation systems.
Major companies operating in the mixed reality market are Google Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Meta Platforms Inc, Dell Technologies Inc., Sony Corporation, Sony Corporation, Accenture, Intel Corporation, Canon Inc., Asus Tek Computer Inc, Seiko Epson Corporation, Accenture PLC, HP Development Company LP, Magic Leap Inc., Oculus VR LLC, HTC Corporation, Eon Reality Inc., Daqri LLC., Lumus Ltd., Vuzix Corporation, Sulon Technologies Inc., Amber Garage, Occipital Inc, Atheer Inc.
North America was the largest region in the mixed reality market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mixed reality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mixed reality market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Mixed reality (MR) represents a technological fusion of physical and digital realms, generating immersive and interactive experiences where real-world and virtual elements coexist and interact seamlessly in real-time. These technologies typically leverage sensors, cameras, and advanced algorithms to comprehend and map the physical environment, facilitating realistic interaction between virtual objects and real-world surfaces and objects.
The primary components of mixed reality encompass hardware and software. Hardware encompasses both external and internal devices enabling users to execute key functions such as input, output, storage, and communication. It encompasses a variety of products including head-up displays, smartphones, tablet PCs, computer displays, and HMD (Head-Mounted Display) devices, available in both wired and wireless connections. These devices find application across diverse end-user verticals such as education, engineering, entertainment, healthcare, and others.
The mixed reality market research report is one of a series of new reports that provides mixed reality market statistics, including the mixed reality industry global market size, regional shares, competitors with mixed reality market share, detailed mixed reality market segments, market trends, and opportunities, and any further data you may need to thrive in the mixed reality industry. This mixed reality market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The mixed reality market consists of revenues earned by entities by providing services such as product design and visualization, training, and simulation. The market value includes the value of related goods sold by the service provider or included within the service offering. The mixed reality market also includes sales of products including headsets, glasses, gloves, and controllers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Mixed Reality Market Characteristics3. Mixed Reality Market Trends and Strategies32. Global Mixed Reality Market Competitive Benchmarking33. Global Mixed Reality Market Competitive Dashboard34. Key Mergers and Acquisitions in the Mixed Reality Market
4. Mixed Reality Market - Macro Economic Scenario
5. Global Mixed Reality Market Size and Growth
6. Mixed Reality Market Segmentation
7. Mixed Reality Market Regional and Country Analysis
8. Asia-Pacific Mixed Reality Market
9. China Mixed Reality Market
10. India Mixed Reality Market
11. Japan Mixed Reality Market
12. Australia Mixed Reality Market
13. Indonesia Mixed Reality Market
14. South Korea Mixed Reality Market
15. Western Europe Mixed Reality Market
16. UK Mixed Reality Market
17. Germany Mixed Reality Market
18. France Mixed Reality Market
19. Italy Mixed Reality Market
20. Spain Mixed Reality Market
21. Eastern Europe Mixed Reality Market
22. Russia Mixed Reality Market
23. North America Mixed Reality Market
24. USA Mixed Reality Market
25. Canada Mixed Reality Market
26. South America Mixed Reality Market
27. Brazil Mixed Reality Market
28. Middle East Mixed Reality Market
29. Africa Mixed Reality Market
30. Mixed Reality Market Competitive Landscape and Company Profiles
31. Mixed Reality Market Other Major and Innovative Companies
35. Mixed Reality Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Mixed Reality Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on mixed reality market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for mixed reality ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The mixed reality market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Component: Hardware; Software2) by Product: Head-Up display; Smartphone ; Tablet PC; Computer display; HMD display
3) by Device Type: Wired; Wireless
4) by End-User Verticals: Education; Engineering; Entertainment; Healthcare; Other End-User Verticals
Key Companies Mentioned: Google Inc.; Samsung Electronics Co. Ltd.; Microsoft Corporation; Meta Platforms Inc; Dell Technologies Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Google Inc.
- Samsung Electronics Co. Ltd.
- Microsoft Corporation
- Meta Platforms Inc
- Dell Technologies Inc.
- Sony Corporation
- Sony Corporation
- Accenture
- Intel Corporation
- Canon Inc.
- Asus Tek Computer Inc
- Seiko Epson Corporation
- Accenture PLC
- HP Development Company LP
- Magic Leap Inc.
- Oculus VR LLC
- HTC Corporation
- Eon Reality Inc.
- Daqri LLC.
- Lumus Ltd.
- Vuzix Corporation
- Sulon Technologies Inc.
- Amber Garage
- Occipital Inc
- Atheer Inc.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | July 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 5.33 Billion |
Forecasted Market Value ( USD | $ 25.91 Billion |
Compound Annual Growth Rate | 48.5% |
Regions Covered | Global |