The mixed reality is a combination of real & virtual worlds. It is also recognized as hybrid reality. It provides innovative atmosphere & visualizations where digital or physical objects interact in the real world. It encompasses both augmented virtuality and augmented reality through immersive technology. Mixed reality finds applications in various sectors including entertainment, automotive & aerospace, healthcare, e-commerce & reality. It is applied on various places like reporting & analytics, production, design & development, maintenance & operations, quality control and distribution.
According to study, “Asia Pacific Mixed Reality Market 2020-2026 by Offering, Device Type, End-user, and Country: Trend Forecast and Growth Opportunity” the key companies operating in the Asia Pacific mixed reality market are Hewlett Packard Enterprise Company, Acer Inc., AsusTek Computer Inc., Amber Garage (Holokit), Atheer, HTC Corporation, Dell Technologies Inc., Apple Inc, Canon, Inc., Infinity Augmented Reality, Inc., Google Inc., Facebook, Eon Reality, Inc., Intel Corporation, Samsung Electronics Company Limited, Osterhout Design Group, Microsoft Corporation, Magic Leap, Inc., Seiko Epson Corporation, Recon Instruments, Oculus VR, LLC, Meta Company. These leading players in the market are involved in product launches, in order for expanding product portfolio.
On the basis of offering type, Asia Pacific mixed reality market is segregated as software and hardware. Software segment includes out-of-box software and custom software. Hardware segment includes semiconductor components, power units, sensors (accelerometer sensor, magnetometer sensor, and others) and others. Hardware segment holds major share in global market owing to rise in the number of mixed reality hardware. On the basis of device type, market is segregated as head-mounted display, Head-Up Display (HUD), eyeglasses and personal digital assistant. On the basis of application, market is segregated as Interactive Product Content Management (IPCM), military training, Simulation Based Learning (SBL), maintenance, navigation and others. In addition, on the basis of end-user type, market is segregated as medical (simulation training, visualization of scans & surgery), aerospace & defense, industrial sector, media & entertainment, education, architecture, and others. Media & entertainment including gaming is estimated to exhibit substantial growth rate due to growth in adoption of mixed reality devices in consumer segment during the forecast period.
The Asia Pacific mixed reality market is driven by rise in demand from the education sector, followed by launch of advanced mixed reality products by key players, rise in demand for Augmented reality and virtual reality (AR/VR) head-mounted displays across the gaming & entertainment industry and growth in development of software as well as hardware components for an immersive display experience. However, high cost of mixed reality devices may impact the market. Moreover, growth in innovation is a key opportunity for market. Moreover, growth in adoption in various industries and high-end consumer electronics market are major trends for market.
It is anticipated that future of the Asia Pacific mixed reality market will be optimistic as a result of rise in awareness of the technology, along with content availability during the forecast period. Asia Pacific mixed reality market will grow at a CAGR of 55.94% with a total addressable market cap of US $2,014.0 million during 2020-2026.
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Ankur Gupta, Head Marketing & Communications