A recent report published by Infinium Global Research on mixed reality market provides in-depth analysis of segments and sub-segments in the global as well as regional mixed reality market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional mixed reality market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global mixed reality market. According to the report, the global mixed reality market is projected to grow at a CAGR of 48.22% over the forecast period of 2021-2027, growing from nearly USD 565 million in 2020 to about USD 8,820 million in 2027.

Market Insight

Mixed reality combines the visual experience of real and virtual worlds with the help of wearable devices, as well as mounted displays. Mixed reality is a hybrid of virtual reality and augmented reality. It has found numerous applications across various sectors including entertainment, automotive, retail, and healthcare. With the help of mixed reality, the users can get a more immersive experience compared to virtual reality and augmented reality. Moreover, in the commercial and industrial settings, mixed reality streamlines several business functions, and improves the efficiency of the business unit. Furthermore, the vendors offering mixed reality solutions are developing innovative devices and systems with different features. This, in turn, is anticipated to boost the competition in the mixed reality in the healthcare market.

The spread of the COVID-19 pandemic has exerted serious stress on several end-use industries across the world. The mixed reality market experienced a serious impact of the COVID-19 pandemic for a short period. The sale of mixed reality devices declined during the period of pandemics due to uncertain economic conditions and the shut down of electronic stores. Furthermore, the production of mixed reality hardware also dropped during the pandemic. Government restrictions and shortage of labor led to declining production of hardware. However, the sale of software solutions remained high during the pandemic. As many people were stuck in their homes, they invested in entertainment and remote working solutions. This, in turn, drove the mixed reality market over a short period, as well as, it is anticipated to influence the market growth over the forecast period.

Increasing the use of mixed reality in the teaching and training field is driving the growth of the mixed reality market. Mixed reality is being used for teaching and training purposes, including academic, institutional, and enterprise settings. Moreover, the growing importance of mixed reality in workflow assistance is also driving market growth. Mixed reality for administration is effectively dropping administrative expenses and helping the service providers to dedicate more of their limited resources to serve customers. However, the higher installation cost of mixed reality solutions along with poor technological infrastructure in developing economies is anticipated to hamper the growth of the mixed reality market. Additionally, numerous apps that use mixed reality entertainment, learning, and training are currently in demand which creates opportunities for the market players.

Among the regions, North America dominated the mixed reality market owing to the continued American leadership in the field of advanced technologies. The United States currently holds a slight edge over every other country, due to the deployment of a large number of AR and VR devices for various applications. High consumer spending power, especially in the US and Canada, is likely to supplement the growth of next-gen technologies such as mixed reality in the region. Europe is the second-largest market in the mixed reality market. The Nordic countries and the Netherlands are European pioneers in the use of mixed reality tools in the industrial, and healthcare sectors. Moreover, the demand for mixed reality devices is certainly increasing, especially in Switzerland and Spain. The Asia Pacific is the fastest-growing region for mixed reality markets. Explosive economic growth combined with changing demographics and shifting consumer expectations is expected to predictably lead to significant technology transformation combined with the adoption of mixed reality in this region.

Segment Covered

The report on the global mixed reality market covers segments such as component, device, and end-user. On the basis of component, the sub-markets include hardware, and software. On the basis of device, the sub-markets include head-up display, smartphone/tablet, and PC. On the basis of end-user, the sub-markets include education, entertainment, healthcare, aerospace & defense, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Microsoft Corporation, Alphabet Inc., Intel Corporation, Samsung Electronics Co., Ltd, Sony Corporation, Magic Leap, Inc, Seiko Epson Corporation, Facebook Inc., Meta Company, and HTC Corporation.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the mixed reality market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.