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.
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
Browse full report by Grand View
Research : http://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.
Browse more reports of this category by Grand View
Research: https://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
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o UK
·
Asia Pacific
o China
o Japan
·
South America
o Brazil
·
Middle East & Africa
Access press release
by Grand View Research : https://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:
http://www.grandviewresearch.com
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