The
global mixed reality market is expected to reach USD 6.86
billion by 2024, according to a new report conducted by Grand View Research,
Inc. The surging acceptance in entertainment and automobile & aerospace
designing arenas is expected to boost the market growth. The increasing acceptance
in the entertainment industry, specifically in gaming and film-making, is
further anticipated to bolster the market growth.
The market
can be categorized on the basis of application types into automotive &
aerospace, medical, entertainment, e-commerce & retail, and others. The
e-commerce & retail application segment is expected to grow at a remarkable
pace owing to the surging incorporation by e-tailers for goods’ promotion and
advertising; for instance, in fashion houses for providing virtual product
experiencing, thus delivering an enhanced appeal factor.
North America mixed reality market revenue by application, 2015 - 2024 (USD Million) |
The MR
technology offers many advantages to the automotive industry, particularly in
safety. For instance, Mercedes-Benz vans deploy MR to realize advanced
manufacturing facilities in their van technology center through:
• The overlay of digital crash
simulation data on physical crash vehicles
• The visualization of out-of-position and validation of flexible parts
• Digital assembly and disassembly simulations with collision testing
• The visualization of out-of-position and validation of flexible parts
• Digital assembly and disassembly simulations with collision testing
Full
Research Report On Global Mixed Reality Market Analysis:
www.grandviewresearch.com/industry-analysis/mixed-reality-market
www.grandviewresearch.com/industry-analysis/mixed-reality-market
Further
key findings from the report suggest:
- The global mixed reality
market is estimated to grow significantly over the forecast period due to
the advanced technology adoption in numerous industries, leading to
reduced costs of production and increased efficiency. The technological
superiority of mixed reality in dynamic application arenas of large
magnitude is estimated to trigger the demand by 2024.
- The MR technology would
become an essential part of the retail industry, which is expected to
drive the industry growth over the forecast period. Most of the retailers
would use this technology to provide their customers with an interactive
experience, which gives their shopping a whole new edge. Retailers can use
mixed reality in many ways, such as by including it in interactive
promotions; providing accuracy in a buying process; and localizing
businesses, deals, and offers.
- North America is
anticipated to mature as one of the prominent regional markets, owing to
the high adoption in the automotive and aerospace designing industry
coupled with the rising R&D spending. Asia Pacific is expected to
witness a substantial growth over the forecast period. The surge in the
demand across various application arenas is expected to spur the market
demand.
- The key industry
participants include Magic Leap, META COMPANY, Alphabet Inc., HTC
Corporation, Inc., and Microsoft Corporation. Magic Leap, an augmented
reality company, offers a technology that projects an image on the retina
of the user and allows interaction between the fictional characters and
the real world.
View more
reports of this category by Grand View Research at:
www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the global mixed reality market on the
basis of component type, application type, and region:
Mixed
Reality Component Type Outlook (Revenue, USD Million, 2015 - 2024)
- Hardware
- Software
Mixed
Reality Application Type Outlook (Revenue, USD Million, 2015 - 2024)
- Automotive
& Aerospace
- Medical
- Entertainment
- E-commerce
& Retail
- Others
Mixed
Reality Regional Outlook (Revenue, USD Million, 2015 - 2024)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- Asia
Pacific
- China
- Japan
- South
America
- Brazil
- Middle
East & Africa
View press
release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-mixed-reality-market
www.grandviewresearch.com/press-release/global-mixed-reality-market
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more
information: www.grandviewresearch.com
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