Mixed Reality in Gaming Market - Global Market Share, Trends, Analysis and Forecasts, 2023 - 2032
Mixed reality in gaming market is expected to reach a value of US$ 178.13 Mn by 2024. The study projects the global mixed reality in gaming market to expand at a CAGR of 34.06% during the period from 2018 to 2024.
Demand for MR is expected to surge in coming years with the growing investments in platforms, devices and software. The global mixed reality in gaming market, by geography, has been segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and South America. North America is anticipated to witness faster adoption and hence higher growth rate as compared to other regions. Within North America, the U.S and Canada are anticipated to drive the growth of mixed reality in gaming market. This is due to the advanced technology adoption in the region, leading to increased efficiency and reduced costs of production. Furthermore, use of MR to facilitate its experience for military trainings, is also expected to increase adoption in the region. Companies have collaborated and made have investments in research and development for the design of MR based theme parks in U.S and other countries from the region.
Europe is anticipated to be the second-fastest-growing region which is closely followed by the Asia Pacific region during the forecast period. The adoption rate for mixed reality is expected to surge during forecast period as growing number of companies are investing heavily in mixed reality technology. The promising growth prospects of the Europe mixed reality in gaming market can be attributed to the rising adoption of smart computing devices such as smartphones in the region. Adoption of IoT across a number of application areas in the region is also expected to accelerate the growth prospects of the Europe mixed reality in gaming market during the forecast period.
In Europe, Germany and UK are anticipated to drive the growth of mixed reality in gaming market. Across Asia Pacific, countries including Australia, China and Japan are anticipated to drive the growth of mixed reality in gaming market. China dominated the market share in 2015 and is expected to continue its dominance over the forecast period from 2022 to 2032. Japan and Australia are expected to grow at a considerable rate owing to the growing adoption for wearable devices which combine virtual world with the physical world. Mixed reality in gaming market in the South America region is anticipated to witness relatively slow market growth. However, Brazil among other countries is projected to witness steady growth in the market. The growth is due to adoption of mixed reality technology for training purpose. For instance, Instruction Centre for Operations on Law and Order Assurance (CIOpGLO), a Brazilian Army facility offers training in different perspectives based on augmented reality and mixed reality technologies. The mixed reality in gaming market in Middle East and Africa occupies a relatively small part of the global market. Within Middle East and Africa, counties including GCC and South Africa are driving the growth of the mixed reality in gaming market.
Some of the key players profiled in the global mixed reality in gaming market include Canon Inc., CCP hf, Daqri LLC., HTC Corporation, Infinity Augmented Reality, Inc., Lenovo Group Ltd., Magic Leap, Inc., Meta Company, Microsoft Corporation (HoloLens), Osterhout Design Group, Recon Instruments, Inc., Samsung Electronics Co, Ltd., Seiko Epson Corporation, Six Flags Entertainment Corporation and Ubisoft Entertainment.
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- North America
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