APAC witnessing fastest adoption of mixed reality devices
Global mixed reality market is expected to witness a CAGR of over 40% crossing $3.7 billion by 2025
Bangalore, India, July 3, 2019: With its recently published study “Global Mixed reality Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research estimates that there will be huge adoption of mixed reality devices especially in the APAC region, mainly due to improving internet infrastructure and growing demand for mixed reality integrated devices.
Several organizations are significantly investing in digital transformation and are leveraging cutting-edge technologies to uniquely position their competitive advantage as well as gain operational efficiencies. Among the available digital technologies available in the market, mixed reality has gained prominence as a solution to further augment direct customer interactions. These technologies, while in their nascent stage, are being explored to provide a range of services such as training, collaboration, workflow, process improvement, and customer experience.
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Game industry is one of the significant contributors towards mixed reality market. There has been development of hybrid games which takes place in both reality and virtual reality instantaneously. Major players such as Oculus and HTC have a significant presence in the consumer mixed reality. Mixed reality gaming experience is not only being combined with traditional gaming PC or console experience, however there are other features of this technology that has impacted the industry. One of the application areas of mixed reality is online gambling and several virtual casinos allow their customers to truly immerse themselves in the gambling experience.
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North America is likely to lead the mixed reality market due to the significantly high adoption levels of mixed reality products in this region. Advances in technology such as artificial intelligence (AI) and 5G, and several product launches by the vendors in this region will have a significant contribution towards the growth of this market. Microsoft is one of the key providers of mixed reality solutions and has launched Hololens 2 (which is a mixed reality device and an upgrade from Hololens AR). This new product launch will help Airbus as it is using Microsoft’s mixed reality (MR) Hololens devices to speed production and improve training for its new staff. It is also planning to develop its own mixed reality apps for others in the aviation industry. Other major mixed reality companies such as, Eon Reality, Magic Leap, and HTC are expected to drive the market growth. Major gaming revenues in APAC is derived especially from Taiwan, South Korea, and China, sourced mainly from mobile gaming. In APAC, with growing investment in content development from governments, venture capitalists, and companies, the mixed reality market will see boosted growth.
“With growing adoption of 5G and AI, mixed reality experience for customers will see significant changes due to its perfect integration to create a next-gen entertainment medium,” pointed out Rahul Kumar Pandey, Research Analyst, Infoholic Research.
Segments of the report include:
- Head-Mounted Display
- Handheld Device
- Head-Up Display
- Projector and Display Wall
- Gesture-Tracking Device
- Repair & Maintenance
- Research & Development
- Product Development
- Media & Entertainment
- Aerospace & Defense
- North America
Industry outlook: Market trends, drivers, restraints, and opportunities