Mixed Reality Headsets Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The mixed reality headsets market size has grown exponentially in recent years. It will grow from $2.63 billion in 2023 to $3.30 billion in 2024 at a compound annual growth rate (CAGR) of 25.3%. The growth in the historic period can be attributed to consumer demand for an enhanced experience, ecosystem development, cross-industry collaborations, evolving user interfaces, and regulatory support.
The mixed reality headsets market size is expected to see exponential growth in the next few years. It will grow to $8.22 billion in 2028 at a compound annual growth rate (CAGR) of 25.6%. The growth in the forecast period can be attributed to accessibility and affordability improvements, enhanced training and education, demand in healthcare and medical training, the surge in gaming and entertainment, the rise of augmented reality applications, increasing adoption of remote work. Major trends in the forecast period include continued innovation and competition, the convergence of augmented reality (AR) and virtual reality (VR), increasing integration with 5G networks, development of lightweight and portable devices, integration with the Internet of Things (IoT) devices and artificial intelligence (AI) systems.
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Scope Of Mixed Reality Headsets Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Mixed Reality Headsets Market Overview
Market Drivers –
The Growing gaming industry is expected to propel the growth of the mixed reality headsets market going forward. The gaming industry encompasses the collective businesses involved in the creation, development, distribution, and monetization of video games. The gaming industry is rising due to its ability to provide immersive and interactive experiences that cater to a diverse global audience, spanning various demographics and platforms. Mixed reality headsets in gaming offer superior immersion by seamlessly blending virtual and real-world elements, providing players with innovative gameplay experiences, and enhancing interaction with digital environments, characters, and objects. For instance, in January 2022, according to the Entertainment Software Association, a US-based trade association, U.S. consumer video game spending reached $60.4 billion in 2021, an 8% increase over 2020. Gaming content spending in 2021 reached $51.7 billion, an increase of 7% over 2020, while gaming hardware spending rose to $6.1 billion, which represents a 14% increase. Additionally, accessories generated $2.7 billion in consumer spending, a 2% increase from 2020. Therefore, the growing gaming industry is driving the growth of the mixed reality headset market.
Market Trends –
Major companies operating in the mixed reality headsets market are focused on developing innovative products, such as mass-market mixed reality headsets, to gain a competitive edge in the market. A mass-market mixed reality headset is a consumer-grade device that combines elements of virtual reality (VR) and augmented reality (AR) to provide users with immersive and interactive digital experiences. For instance, in September 2023, Meta Platform Inc., a US-based technology company, launched Quest 3, a mixed reality headset that utilizes advanced chipsets and cutting-edge graphics technology to deliver stunning visuals and realistic environments. This headset is designed to seamlessly blend virtual and real-world experiences, enabling users to play a virtual piano on their coffee table or open a portal to another dimension in their living room while still being able to see their physical surroundings through high-fidelity, full-color passthrough. The Quest 3 boasts double the graphic processing power of its predecessor, the Quest 2, and utilizes the new Snapdragon XR2 Gen 2 platform and a 4K+ Infinite Display that achieves a nearly 30% increase in resolution compared to the Meta Quest 2.
The mixed reality headsets market covered in this report is segmented –
1) By Type: Tethered Headsets, Untethered Headsets, Other Types
2) By Technology: Augmented Reality (AR) Headsets, Virtual Reality (VR) Headsets, Mixed Reality (MR) Headsets
3) By Distribution Channel: Online Retail, Offline Retail, Enterprise Direct Sales, Specialized Vendors
4) By End-User: Consumer Electronics, Healthcare, Industrial And Manufacturing, Education, Gaming And Entertainment
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Regional Insights –
North America was the largest region in the mixed reality headsets market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mixed reality headsets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the mixed reality headsets market are Apple Inc., Samsung Electronics Co. Ltd., Meta Platform Inc., Dell Technologies Inc., Huawei Technologies Co. Ltd., Sony Group Corporation, Lenovo Group Limited, Panasonic Corporation, LG Electronics Inc., Qualcomm Technologies Inc., Xiaomi Corporation, Asus Tek Computer Inc., Seiko Epson Corporation, Acer Inc., Razer Inc., Valve Corporation, Magic Leap Inc., High Tech Computer Corporation, Pimax Technology Co. Ltd., Varjo Technologies Oy, Vuzix Corporation, Occipital Inc., GlassUP S.r.l, Atheer Inc., Amber Garage
Table of Contents
- Executive Summary
- Mixed Reality Headsets Market Report Structure
- Mixed Reality Headsets Market Trends And Strategies
- Mixed Reality Headsets Market – Macro Economic Scenario
- Mixed Reality Headsets Market Size And Growth
…..
- Mixed Reality Headsets Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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