Global Mixed Reality Headsets Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth
Posted by ramtbrc on May 30th, 2024
Overview and Scope
Mixed reality headsets are wearable devices that combine elements of both augmented reality (AR) and virtual reality (VR) technologies. They overlay digital content onto the real world, allowing users to interact with both virtual and physical environments simultaneously. These headsets typically incorporate sensors, cameras, and displays to merge digital and physical realities seamlessly.
Sizing and Forecast
The mixed reality headsets market size has grown exponentially in recent years. It will grow from .63 billion in 2023 to .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 .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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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 .4 billion in 2021, an 8% increase over 2020. Gaming content spending in 2021 reached .7 billion, an increase of 7% over 2020, while gaming hardware spending rose to .1 billion, which represents a 14% increase. Additionally, accessories generated .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.
Key Industry Players
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
The mixed reality headsets market report table of contents includes:
1. Executive Summary
2. Mixed Reality Headsets Market Characteristics
3. Mixed Reality Headsets Market Trends And Strategies
4. Mixed Reality Headsets Market - Macro Economic Scenario
5. Global Mixed Reality Headsets Market Size and Growth
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32. Global Mixed Reality Headsets Market Competitive Benchmarking
33. Global Mixed Reality Headsets Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Mixed Reality Headsets Market
35. Mixed Reality Headsets Market Future Outlook and Potential Analysis
36. Appendix
