Mixed Reality Market Size

Mixed reality is an emerging technology that combines the physical world with virtual reality, creating a user environment that blends the best of both. While still in its early stages, this technology has applications across various industries such as military, medical, manufacturing, education, automotive, IT, gaming, and entertainment. Key drivers for the mixed reality market include the increasing demand for AR/VR head-mounted display devices in gaming and entertainment and advancements in hardware and software for immersive display technology. However, challenges like limited battery life and image latency in mixed reality devices hinder market growth.

This study on the global mixed reality market provides detailed insights into industry trends, market size, the competitive landscape, and growth opportunities. The market is categorized by components (hardware and software), product types (head-mounted display, head-up display, smartphone/tablet PC, computer display, and others), applications (military, medical, manufacturing, education, automotive, IT, gaming, entertainment, architecture, and others), and regions (North America, Europe, Asia-Pacific, and the rest of the world).

North America is expected to lead the mixed reality market, with high adoption and the launch of technologically advanced products driving growth. The United States, followed by Canada, dominates the North American market. Asia-Pacific is poised to hold a significant market share, with Japan leading the region, followed by China.

The mixed reality market is competitive, with a few large companies engaged in extensive research and development to offer innovative products. Major players include Intel Corporation, Seiko Epson Corporation, Google LLC, Samsung Group, Microsoft Corporation, Accenture PLC, Sony Corporation, Facebook, Inc., Magic Leap, Inc., and HTC Corporation. These companies employ both organic and inorganic growth strategies, focusing on product enhancement, launches, partnerships, agreements, and collaborations to strengthen their position in the global mixed reality market.

For instance, in 2019, Microsoft unveiled an upgraded version of their mixed reality headset, HoloLens 2, at the Mobile World Congress in Barcelona. Additionally, in 2018, Microsoft partnered with four German firms – Data Experts, Medialesson, Riflekt, and Viscopic – to bolster their mixed reality partner network in Europe. These strategic moves showcase the commitment of market players to continually innovate and collaborate, ensuring their success in the dynamic mixed reality landscape.