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Mixed Reality Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

October 2023 | 145 pages | ID: M95D358D00B6EN
IMARC Group

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Market Overview:

The global mixed reality market size reached US$ 1175.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1399.0 Million by 2028, exhibiting a growth rate (CAGR) of 38.71% during 2023-2028. The growing need for high quality and enhanced virtual experience, increasing application in corporate events, and rising demand in the gaming and entertainment industry to offer realistic gaming experience represent some of the key factors driving the market.

Mixed reality (MR), also known as hybrid reality, refers to a technology that comprises virtual reality (VR) and augmented reality (AR). It relies on advancements in computer vision, display technologies, graphical processing, input systems, artificial intelligence (AI), and cloud computing. It is a cost-effective, time-saving, and engaging way to provide training to many people. It allows an individual to interact with a virtual environment by using next generation sensing and imaging technologies and enhances the experience with holographic representation of people. It assists in providing face-to-face (F2F) meetings with geographically dispersed teams in a business. Besides this, it aids in detecting physical objects through spatial mapping and bounding boxes. As a result, MR is widely employed in the healthcare, automotive, aerospace and defense, construction, gaming and entertainment, architecture, and education industries across the globe.

Mixed Reality Market Trends:

At present, the rising utilization of MR in the gaming and entertainment industry to offer realistic gaming experiences to users worldwide represents one of the key factors contributing to the growth of the market. Besides this, the growing adoption of MR in the education industry for making the learning process more engaging and attractive using three-dimension (3D) videos and pictures while reducing learning errors is offering a positive market outlook. Additionally, there is a rise in the need for high-quality and enhanced virtual experiences among the masses around the world. This, coupled with the increasing demand for MR in interior designs and architecture to design infrastructure and products easily, is bolstering the growth of the market. Apart from this, the rising utilization of MR in corporate events to expand the business reach by telling brand stories and connecting with attendees is impelling the growth of the market. Moreover, the increasing adoption in the healthcare industry for surgical applications and providing medical training is offering lucrative growth opportunities to industry investors. In addition, the rising emergence of big data and cloud computing technologies in the MR is supporting the growth of the market. Furthermore, the increasing demand for MR in the aerospace and defense industry, as it provides holographic images of the engine that aids in better understanding and in-depth research of the engine, is strengthening the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global mixed reality market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, device type and application.

Component Insights:

Hardware

Sensor

Semiconductor Component

Power Units

Software

The report has provided a detailed breakup and analysis of the mixed reality market based on the component. This includes hardware (sensor, semiconductor component, and power units) and software. According to the report, hardware represented the largest segment.

Device Type Insights:

Wired Device

Wireless Device

A detailed breakup and analysis of the mixed reality market based on the device type has also been provided in the report. This includes wired device and wireless device. According to the report, wireless device accounted for the largest market share.

Application Insights:

Aerospace and Defense

Architecture

Entertainment and Gaming

Medical

Simulation Training

Visualization of Scans

Simulation Surgery

Others

A detailed breakup and analysis of the mixed reality market based on the application has also been provided in the report. This includes aerospace and defense, architecture, entertainment and gaming, medical (simulation training, visualization of scans, and simulation surgery), and others. According to the report, aerospace and defense accounted for the largest market share.

Regional Insights:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) was the largest market for mixed reality. Some of the factors driving the North America mixed reality market included the presence of numerous key players, rising adoption of MR in the healthcare, automotive, and entertainment sector, introduction of fifth generation (5G) and upgraded network infrastructure, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global mixed reality market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Apple Inc., Canon Inc, Dell Technologies Inc., EON Reality, Facebook Inc., HP Development Company L.P, HTC Corporation, Intel Corporation, Magic Leap Inc., Microsoft Corporation, Samsung Electronics Co Ltd., Seiko Epson Corporation., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:

How has the global mixed reality market performed so far, and how will it perform in the coming years?

What are the drivers, restraints, and opportunities in the global mixed reality market?

What is the impact of each driver, restraint, and opportunity on the global mixed reality market?

What are the key regional markets?

Which countries represent the most attractive mixed reality market?

What is the breakup of the market based on the component?

Which is the most attractive component in the mixed reality market?

What is the breakup of the market based on the device type?

Which is the most attractive device type in the mixed reality market?

What is the breakup of the market based on the application?

Which is the most attractive application in the mixed reality market?

What is the competitive structure of the global mixed reality market?

Who are the key players/companies in the global mixed reality market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL MIXED REALITY MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY COMPONENT

6.1 Hardware
  6.1.1 Market Trends
  6.1.2 Key Segments
    6.1.2.1 Sensor
    6.1.2.2 Semiconductor Component
    6.1.2.3 Power Units
  6.1.3 Market Forecast
6.2 Software
  6.2.1 Market Trends
  6.2.2 Market Forecast

7 MARKET BREAKUP BY DEVICE TYPE

7.1 Wired Device
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Wireless Device
  7.2.1 Market Trends
  7.2.2 Market Forecast

8 MARKET BREAKUP BY APPLICATION

8.1 Aerospace and Defense
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Architecture
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Entertainment and Gaming
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4 Medical
  8.4.1 Market Trends
  8.4.2 Key Segments
    8.4.2.1 Simulation Training
    8.4.2.2 Visualization of Scans
    8.4.2.3 Simulation Surgery
  8.4.3 Market Forecast
8.5 Others
  8.5.1 Market Trends
  8.5.2 Market Forecast

9 MARKET BREAKUP BY REGION

9.1 North America
  9.1.1 United States
    9.1.1.1 Market Trends
    9.1.1.2 Market Forecast
  9.1.2 Canada
    9.1.2.1 Market Trends
    9.1.2.2 Market Forecast
9.2 Asia-Pacific
  9.2.1 China
    9.2.1.1 Market Trends
    9.2.1.2 Market Forecast
  9.2.2 Japan
    9.2.2.1 Market Trends
    9.2.2.2 Market Forecast
  9.2.3 India
    9.2.3.1 Market Trends
    9.2.3.2 Market Forecast
  9.2.4 South Korea
    9.2.4.1 Market Trends
    9.2.4.2 Market Forecast
  9.2.5 Australia
    9.2.5.1 Market Trends
    9.2.5.2 Market Forecast
  9.2.6 Indonesia
    9.2.6.1 Market Trends
    9.2.6.2 Market Forecast
  9.2.7 Others
    9.2.7.1 Market Trends
    9.2.7.2 Market Forecast
9.3 Europe
  9.3.1 Germany
    9.3.1.1 Market Trends
    9.3.1.2 Market Forecast
  9.3.2 France
    9.3.2.1 Market Trends
    9.3.2.2 Market Forecast
  9.3.3 United Kingdom
    9.3.3.1 Market Trends
    9.3.3.2 Market Forecast
  9.3.4 Italy
    9.3.4.1 Market Trends
    9.3.4.2 Market Forecast
  9.3.5 Spain
    9.3.5.1 Market Trends
    9.3.5.2 Market Forecast
  9.3.6 Russia
    9.3.6.1 Market Trends
    9.3.6.2 Market Forecast
  9.3.7 Others
    9.3.7.1 Market Trends
    9.3.7.2 Market Forecast
9.4 Latin America
  9.4.1 Brazil
    9.4.1.1 Market Trends
    9.4.1.2 Market Forecast
  9.4.2 Mexico
    9.4.2.1 Market Trends
    9.4.2.2 Market Forecast
  9.4.3 Others
    9.4.3.1 Market Trends
    9.4.3.2 Market Forecast
9.5 Middle East and Africa
  9.5.1 Market Trends
  9.5.2 Market Breakup by Country
  9.5.3 Market Forecast

10 SWOT ANALYSIS

10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats

11 VALUE CHAIN ANALYSIS

12 PORTERS FIVE FORCES ANALYSIS

12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes

13 PRICE ANALYSIS

14 COMPETITIVE LANDSCAPE

14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
  14.3.1 Apple Inc.
    14.3.1.1 Company Overview
    14.3.1.2 Product Portfolio
  14.3.2 Canon Inc
    14.3.2.1 Company Overview
    14.3.2.2 Product Portfolio
  14.3.3 Dell Technologies Inc.
    14.3.3.1 Company Overview
    14.3.3.2 Product Portfolio
  14.3.4 EON Reality
    14.3.4.1 Company Overview
    14.3.4.2 Product Portfolio
  14.3.5 Facebook Inc.
    14.3.5.1 Company Overview
    14.3.5.2 Product Portfolio
  14.3.6 HP Development Company L.P
    14.3.6.1 Company Overview
    14.3.6.2 Product Portfolio
  14.3.7 HTC Corporation
    14.3.7.1 Company Overview
    14.3.7.2 Product Portfolio
  14.3.8 Intel Corporation
    14.3.8.1 Company Overview
    14.3.8.2 Product Portfolio
  14.3.9 Magic Leap Inc.
    14.3.9.1 Company Overview
    14.3.9.2 Product Portfolio
  14.3.10 Microsoft Corporation
    14.3.10.1 Company Overview
    14.3.10.2 Product Portfolio
  14.3.11 Samsung Electronics Co Ltd.
    14.3.11.1 Company Overview
    14.3.11.2 Product Portfolio
  14.3.12 Seiko Epson Corporation
    14.3.12.1 Company Overview
    14.3.12.2 Product Portfolio

LIST OF TABLES

Table 1: Global: Mixed Reality Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Mixed Reality Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: Mixed Reality Market Forecast: Breakup by Device Type (in Million US$), 2023-2028
Table 4: Global: Mixed Reality Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: Mixed Reality Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Mixed Reality Market: Competitive Structure
Table 7: Global: Mixed Reality Market: Key Players

LIST OF FIGURES

Figure 1: Global: Mixed Reality Market: Major Drivers and Challenges
Figure 2: Global: Mixed Reality Market: Sales Value (in Million US$), 2017-2022
Figure 3: Global: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 4: Global: Mixed Reality Market: Breakup by Component (in %), 2022
Figure 5: Global: Mixed Reality Market: Breakup by Device Type (in %), 2022
Figure 6: Global: Mixed Reality Market: Breakup by Application (in %), 2022
Figure 7: Global: Mixed Reality Market: Breakup by Region (in %), 2022
Figure 8: Global: Mixed Reality (Hardware) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Mixed Reality (Hardware) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Mixed Reality (Software) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Mixed Reality (Software) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Mixed Reality (Wired Device) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Mixed Reality (Wired Device) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Mixed Reality (Wireless Device) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Mixed Reality (Wireless Device) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Mixed Reality (Aerospace and Defense) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Mixed Reality (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Mixed Reality (Architecture) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Mixed Reality (Architecture) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Mixed Reality (Entertainment and Gaming) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Mixed Reality (Entertainment and Gaming) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Mixed Reality (Medical) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Mixed Reality (Medical) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Mixed Reality (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Mixed Reality (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: North America: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: North America: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: United States: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: United States: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Canada: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Canada: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Asia-Pacific: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Asia-Pacific: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: China: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: China: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Japan: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Japan: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: India: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: India: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: South Korea: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: South Korea: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Australia: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Australia: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Indonesia: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Indonesia: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Others: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Others: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Europe: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Europe: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Germany: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Germany: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: France: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: France: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: United Kingdom: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: United Kingdom: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Italy: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Italy: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Spain: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Spain: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Russia: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Russia: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Others: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Others: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Latin America: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Latin America: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Brazil: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Brazil: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Mexico: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Mexico: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Others: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Others: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Middle East and Africa: Mixed Reality Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Middle East and Africa: Mixed Reality Market: Breakup by Country (in %), 2022
Figure 74: Middle East and Africa: Mixed Reality Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Global: Mixed Reality Industry: SWOT Analysis
Figure 76: Global: Mixed Reality Industry: Value Chain Analysis
Figure 77: Global: Mixed Reality Industry: Porter's Five Forces Analysis


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