Apr 09, 2020 (AmericaNewsHour) --
The global mixed reality market was valued at USD 55.57 million in 2016 and is expected to reach USD 6860 billion by 2024, at a CAGR of 43.6% over the forecast period. The ascent in consumer electronics market is because of development in mixed reality technology in games and entertainment industry.
Mixed reality (MR) is an innovation that merges virtual and augmented reality visualization to give natural intuitive condition to the customers. Mixed reality, also regarded as hybrid reality is cutting edge innovation in which virtual and augmented reality are converged to create new state and perception where physical and digital technology interacts to give a real-time experience to the users.
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It is broadly utilized by the clients while playing video games and watching movies. The experience generated is very interactive providing full involvement and excitement to the clients. Mixed reality is the combination of physical world and the virtual world, including both augmented reality and augmented virtuality using technology.
The end-user of this technology belongs to verticals such as Aerospace and Defense, Entertainment and Media industry, Business and Education sector, Consumer Electronics, Retail and Advertisement and Others.
Global Mixed Reality Market is segmented in terms of components, hardware and software. By ApplicationasAerospace & Defense,Medical science,Architecture andE-commerce and retail. Considering the device typeas wired andwireless. Global Mixed Reality Market, by end-Use applicationas government, corporate, theme Parks, personal (Individual). And, in terms of geographyNorth America,Europe,Asia Pacific (APAC), Middle East and Africa, GCC and South America.
The surge in adoption of MR in architecture and interior designing is another growing business, which is relied upon to affect the market development fundamentally. MR simulates the environment under study considering all the input parameters and provides real-time information to enhance process proficiency.
Different regions like Asia Pacific (APAC), North America,Europe, Middle East and Africa, GCC and South America are the current industry ignitors.
The important factors that drive the development of Mixed Reality Market are the growing section of mixed reality gadgets users regarding industry-based use as well as entertainment sector. Moreover, mixed reality gadgets in the education sector are also seen as the ultimate way of training to give interactive and more creative experience to the students.
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Some of the major players in Global Mixed Reality Market include Google Inc. (U.S.), Intel Corporation (U.S.), Seiko Epson Corporation (Japan), Microsoft Corporation (U.S.), Samsung (South Korea), Facebook, Inc. (U.S.), Accenture PLC (U.S.), Sony Corporation (Japan), Magic leap, Inc. (U.S.) and HTC Corporation (Taiwan) among others.
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