Market for Mixed Reality To Be Worth $187m By 2025
New report from Transparecny Market Research suggests demand for mixed reality will continue to grow.
A new report on the rise of mixed reality (MR) by Transparency Market Research shows that demand for the technology will continue to grow, fuelled in particular by the videogame and entertainment markets.
Mixed reality (MR) is a relatively newcomer to the technology field, though is usually filed alongside the related technologies of virtual reality (VR) and augmented reality (AR). The report shows that growth in the MR area is largely being driven by large tech corporations who are engaging in research and development centered around videogames and entertainment, in particular citing the work done regarding the Windows 10 mixed reality headsets produced by a collaboration between Microsoft and several of its OEM partners, including Dell, Acer, Asus, HP and Lenovo.
The report also notes that there has been broader investment by entertainment companies as well as technology firms, pointing out the significant investment by companies such as Six Flags Entertainment in its effort to update its theme parks with mixed reality technology.
According to the report, North America remains the dominant force in the growth of MR technology, due to companies such as Canon, Infinity Augmented Reality, Magic Leap, Ubisoft and Microsoft’s work on the HoloLens.
According to the report, the market for MR will be worth $187.13 million (USD) by 2025, a groth rate of 38.06%. Entertainment is expected to retain the leading share, driven by the continuing demand from videogame enthusiasts and location-based MR experiences, as well as MR smartphone applications, with Transparency Market Research citing the technology used in hit title Pokemon Go as an examaple of MR technology, which uses real-world location data alongside AR elements to blend the real and virtual environments.
The report also anticipates that other areas such as education, training, and even military applications will also see significant growth, with increased developer access to devices such as the Microsoft HoloLens driving this forward.
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