Global Mixed Reality Market

Mixed Reality Market Size, Share, Growth Analysis, By Component(Software and Hardware), By Application(Automotive and Aerospace, Healthcare) - Industry Forecast 2024-2031

Report ID: SQMIG45I2078 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 63 | Figures: 75

Mixed Reality Market News

  • In January 2022, PTC, a provider of software solutions for product development and digital transformation, announced that it had acquired the mixed reality company Vuforia from Qualcomm. The acquisition is expected to strengthen PTC's offerings in the industrial and enterprise markets.
  • In October 2021, HP announced the launch of its new Reverb G2 Omnicept Edition headset, which includes built-in sensors to track the wearer's heart rate, eye movements, and other biometric data.
  • In August 2021, Google announced that it would be launching a new platform called Project Starline, which is designed to allow people to have immersive video conversations in 3D.
  • In June 2021, Microsoft announced that it would be acquiring Nuance Communications, a company that specializes in speech recognition technology. The acquisition is expected to help Microsoft improve its mixed reality offerings in the healthcare industry.
  • In January 2021, Qualcomm announced the launch of its new XR2 platform, which is designed to power the next generation of mixed reality headsets.
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Mixed Reality Market size was valued at USD 811.33 billion in 2021 and is poised to grow from USD 1127.3 billion in 2022 to USD 19489.2 billion by 2030, growing at a CAGR of 44.5% in the forecast period (2023-2030).

The mixed reality market is highly competitive and is characterized by the presence of several players. Companies are adopting strategies such as partnerships, collaborations, and product launches to stay competitive in the market. The market is expected to witness significant growth due to increasing demand from various end-use industries. The rise in demand for mixed reality devices and software is leading to the entry of new players in the market. The adoption of mixed reality technology in the entertainment and gaming industries is expected to drive market growth in the future. 'Microsoft Corporation', 'Magic Leap, Inc.', 'Facebook Technologies, LLC', 'Google LLC', 'HTC Corporation', 'Lenovo Group Limited', 'Seiko Epson Corporation', 'Samsung Electronics Co., Ltd.', 'DAQRI LLC', 'Vuzix Corporation', 'Intel Corporation', 'Apple Inc.', 'Meta Company', 'Osterhout Design Group (ODG)', 'Atheer, Inc.', 'Marxent Labs LLC', 'Zappar Ltd.', 'Blippar', 'Scope AR', 'Upskill'

The increasing demand for mixed reality solutions in medical training and surgical procedures is expected to drive the growth of the mixed reality market in the healthcare sector. The healthcare industry is witnessing a growing demand for mixed reality solutions, particularly in medical training and surgical procedures. The use of mixed reality technology in medical training enables students to learn and practice complex procedures in a safe and controlled environment. This technology offers a level of immersion and interactivity that traditional training methods cannot match, allowing medical professionals to hone their skills and knowledge without the risk of harming real patients. In surgical procedures, mixed reality solutions provide surgeons with a 3D visualization of the patient's anatomy, allowing for more precise and accurate procedures.

The growing adoption of mixed reality technology in the healthcare industry is one key market trend in the mixed reality market. Healthcare providers are increasingly using mixed reality solutions to improve patient outcomes and enhance medical education and training. For instance, mixed reality can help in surgical planning by allowing physicians to visualize the anatomy in 3D and simulate the procedure. It can also be used to train medical students and provide them with a more immersive learning experience. Moreover, mixed reality can assist in physical therapy by creating interactive exercises that encourage patients to engage in their rehabilitation. The adoption of mixed reality technology in healthcare is expected to continue to grow in the coming years, as more healthcare providers recognize its potential to improve patient care and outcomes.

North America is one of the leading regions in the mixed reality market due to the presence of a large number of leading technology providers and high adoption rates of mixed reality in various sectors. The region is dominated by the United States, which is one of the leading countries in terms of innovation and technological advancements. The increasing investments in research and development activities for the development of new technologies and the presence of a large number of key players in the region is expected to drive the growth of the mixed reality market in North America. The healthcare, automotive, and entertainment sectors are the major end-users of mixed reality technology in the region. Mixed reality technology is being used in these sectors for product design, prototyping, visualization, surgical procedures, medical training, and immersive gaming experiences. The widespread adoption of mixed reality technology in these sectors is expected to drive the growth of the market in the region.

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Global Mixed Reality Market

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