PUBLISHER: The Business Research Company | PRODUCT CODE: 1484828
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484828
Mixed reality headsets are wearable gadgets that blend augmented reality (AR) and virtual reality (VR) features, enabling users to overlay digital content onto the real world and interact with both virtual and physical environments simultaneously. These headsets typically integrate sensors, cameras, and displays to seamlessly merge digital and physical realities.
The primary types of mixed reality headsets include tethered headsets, untethered headsets, and others. Tethered headsets require a connection to a powerful computer or gaming console to operate, and they encompass various technologies such as augmented reality (AR), virtual reality (VR), and mixed reality (MR) functionalities. These headsets are distributed through online and offline retail channels, enterprise direct sales, and specialized vendors, catering to end-users spanning consumer electronics, healthcare, industrial and manufacturing sectors, education, and gaming and entertainment industries.
The mixed reality headsets market research report is one of a series of new reports from The Business Research Company that provides mixed reality headsets market statistics, including mixed reality headsets industry global market size, regional shares, competitors with a mixed reality headsets market share, detailed mixed reality headsets market segments, market trends and opportunities, and any further data you may need to thrive in the mixed reality headsets industry. This mixed reality headsets market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 expansion observed in the historical period can be credited to several factors. These include heightened consumer demand for an enriched experience, the development of ecosystems supporting mixed reality technologies, collaborations across industries, advancements in user interfaces, and regulatory backing.
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 anticipated growth in the upcoming period is expected to be fueled by various factors. These include improvements in accessibility and affordability, advancements in training and education methods, heightened demand within healthcare and medical training sectors, the burgeoning popularity of gaming and entertainment, the proliferation of augmented reality applications, and the rising adoption of remote work practices. Key trends predicted for the forecast period include ongoing innovation and competitive dynamics, the convergence of augmented reality (AR) and virtual reality (VR) technologies, increased integration with 5G networks, the development of lightweight and portable devices, as well as integration with Internet of Things (IoT) devices and artificial intelligence (AI) systems.
The burgeoning gaming industry is poised to drive the expansion of the mixed reality headsets market in the foreseeable future. Comprising entities engaged in the creation, development, distribution, and monetization of video games, the gaming sector is experiencing remarkable growth owing to its capacity to offer immersive and interactive experiences tailored to a diverse global audience across various demographics and platforms. Mixed reality headsets within the gaming realm elevate immersion by seamlessly integrating virtual and real-world elements, thereby delivering innovative gameplay experiences and enriching interaction with digital environments, characters, and objects. Notably, data from the Entertainment Software Association in January 2022 reveals that U.S. consumer video game spending surged to $60.4 billion in 2021, marking an 8% increase over 2020. Gaming content spending reached $51.7 billion in 2021, up by 7% from 2020, while gaming hardware spending witnessed a 14% rise to $6.1 billion. Additionally, accessories generated $2.7 billion in consumer spending, reflecting a 2% increase from 2020. Thus, the flourishing gaming industry serves as a catalyst for the mixed reality headset market's growth trajectory.
Key players in the mixed reality headsets market are channeling their efforts toward crafting innovative products, such as mass-market mixed reality headsets, to gain a competitive edge. These consumer-grade devices seamlessly merge elements of virtual reality (VR) and augmented reality (AR) to furnish users with immersive and interactive digital experiences. For instance, in September 2023, Meta Platform Inc., a prominent US-based technology firm, unveiled Quest 3, a mixed reality headset boasting advanced chipsets and cutting-edge graphics technology for delivering stunning visuals and lifelike environments. Engineered to effortlessly blend virtual and real-world experiences, Quest 3 empowers users to play a virtual piano on their coffee table or unlock a portal to alternate dimensions in their living room, all while maintaining visibility of their physical surroundings through high-fidelity, full-color passthrough. With double the graphic processing power of its predecessor, Quest 2, and leveraging the new Snapdragon XR2 Gen 2 platform alongside a 4K+ Infinite Display achieving nearly 30% enhanced resolution compared to Meta Quest 2, Quest 3 sets a new standard in mixed reality headset technology.
In June 2023, Apple Inc., a renowned US-based technology titan, executed the acquisition of Mira Labs Inc. for an undisclosed sum. This strategic move is poised to augment the capabilities of Apple's forthcoming AR devices, leading to the development of more user-friendly and ergonomic headsets, enhanced tracking and spatial mapping functionalities, and advanced gesture recognition features. Mira Labs Inc., a US-based software company specializing in augmented reality (AR) headsets, brings valuable expertise and assets to Apple's AR endeavors, positioning the company at the forefront of innovation within the mixed reality landscape.
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
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.
The countries covered in the mixed reality headsets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The mixed reality headsets market consists of sales of consumer-grade headsets, development kits, controllers, and hand tracking devices. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Mixed Reality Headsets Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on mixed reality headsets market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for mixed reality headsets ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The mixed reality headsets market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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