Augmented Reality & Mixed Reality Market To Witness The Highest Growth Globally In Coming Years 2021-2026

The Market Insights Reports has added a new statistical data to its repository titled as, Global Augmented Reality & Mixed Reality Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries.

The augmented reality market is expected to register a CAGR of 152.9% over the forecast period 2021 to 2026. This market was valued at USD 5.35 billion in 2020, and is expected to reach a value of USD 1,332.4 billion by 2026.

The mixed reality market was valued at USD 376.1 million in 2020, and is expected to reach a value of USD 3,915.6 million by 2026 with an expected CAGR of 47.9% over the forecast period 2021 to 2026.

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Top Key Players in the Global Augmented Reality & Mixed Reality Market are Google LLC (ALPHABET INC.), Seiko Epson Corporation, Vuzix Corporation, Realwear Inc., Daqri, Optinvent, Microsoft Corporation, HP Development Company, L.P., Dell Technologies Inc., AsusTek Computer Inc., Samsung Electronics Company Limited, Acer Inc., and others. 

Industry News and Update:

– February 2020: AjnaLens (Dimension NXG Pvt. Ltd) announced the launch of reliable mixed wearable called AjnaBolt, an AI-powered military-grade glasses. The glasses leverage the expanding possibilities of data and graphic processes and the rise in the number of uses of AR in the defense sector in emerging countries such as India. Defense systems equipped AI, and MR improves human-to-machine interaction and human decision-making capabilities.

– June 2019 – Magic Leap launched WebXR Support, with Sketchfab as its first partner. It enables creators and developers to continue to create XR content with javascript, and distribute it through the web on Magic Leap One, phones, tablets, desktops, VR and AR headsets.

Key Market Trends:

The Gaming Industry Expected to Hold the Majority Share          

– Due to the various advancements in the gaming industry, the significant technologies which are earning a lot of market attention are Virtual Reality (VR), Augmented Reality (AR), and Extended Reality, i.e., Mixed Reality (MR). For an avid gamer, nothing could be more exciting than the prospect of being transported inside the game, battling demons, aliens, and spies, exploring amazing environments beyond imagination.

– One of the most popular applications of Augmented reality was demonstrated in the game Pokemon Go in 2016, where players targeted to search for virtual creatures on their smartphones. Another one is Playstation VR, which is a console for playing Virtual Reality based games.

– The two technologies, AR and VR collectively, have already created scenarios that once seemed impossible, by years of innovations. For instance, products like the Oculus Go will allow users to download games, apps, and other experiences right from their phone and sync the games to the headset, eliminating the need to connect it to a VR-ready computer, which was required by Oculus Rift.

– However, with the introduction of mixed reality, the major factors driving the mixed reality in the gaming market is the unceasing growth of the gaming industry. Mixed reality in gaming provides an immersive virtual environment and enables gamers to experience virtual reality on their gadgets. For example, the launch of Microsoft Hololens motion controllers and developer kits is serving to aid market players to stimulate the development of mixed reality in gaming.

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Highlights of TOC:

Market Overview: It starts with product overview and scope of the Global Augmented Reality & Mixed Reality market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Augmented Reality & Mixed Reality market size analysis for the review period 2015-2025.

Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Augmented Reality & Mixed Reality market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.

Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.

Market Dynamics: Readers are provided with a comprehensive analysis of Augmented Reality & Mixed Reality market challenges, influence factors, drivers, opportunities, and trends.

Market Forecast: Here, the Augmented Reality & Mixed Reality report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.                              

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