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Mixed Reality Market: Key Players and Production Information analysis with Forecast 2024

The mixed reality (MR) technology, which refers to the incorporation of virtual reality and augmented reality principles to develop immersive virtual environments, is witnessing a vast rise in applications across a number of industries.

Sectors demanding more of the technology across a variety of applications include entertainment, sports, healthcare, education, navigation, and travel. In the near future, the technology is expected to benefit from more focus of companies developing more natural interfaces, significant rise in investment in the field of Internet of Things, and the constant rise in the number of market participants.

The market is anticipated to progress from for US$ 35.30 mn in 2015 at a whopping CAGR of 39.1% between the forecast period of 2016 and 2024. The emergence of 3D movies as an integral part of entertainment industry is expected to boost the demand for mixed reality hardware and software. Following this, the entertainment industry is estimated to rise at a CAGR of 40.3% during the forecast period

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The rapid evolution of the entertainment and media segment is anticipated to make a generous contribution to the soaring revenue of the global mixed reality market. The advancements in the mixed reality market have allowed a score of ticketing professionals a chance to develop interactive and unique content.

Such developments have created a whole new world of gaming for users where they can actually experience the game as though it may be occurring in real life. Owing to this radical change, the global market is anticipated to witness a several video game companies vying for its software, hardware, and services.

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The growth of the global market will also be attributable to the increasing adoption of mixed reality in healthcare and medical sector as well. Interactive imaging to understand the disease or the disorder better and growing usage of head mounted display to enhance pharmacy management are expected to offer the global market lucrative growth opportunities.

Additionally, the usage of mixed reality in enhancing the online shopping experience is also likely to boost the growth of the overall market. For instance, car manufacturers are using mixed reality techniques to showcase 3D car structures of the buyers that allows them to experience the car as they would have in real life.

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Some of the leading companies operating in the global mixed reality market are HTC Corporation, Daqri LLC., Samsung Electronics Co, Ltd., Microsoft Corporation, Seiko Epson Corporation, Canon Inc., Magic Leap, Inc., Facebook Inc., Meta Company, Infinity Augmented Reality, Inc., and Recon Instruments, Inc.

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