Albany, NY -- (SBWIRE) -- 04/06/2021 -- The global mixed reality in gaming market is prophesied to display monumental growth in the upcoming years, thanks to the incessant expansion of the gaming industry. The incorporation of mixed reality technology provides an immersive virtual environment and enables gamers to experience virtual realism in real time.
Apart from this, the rising adoption of mixed reality technology, which incorporates augmented technology and virtual technology, in theme parks and military training is anticipated to augur well for the market's growth.
As per a report by Transparency Market Research (TMR), the global mixed reality in gaming market is projected to expand at a whopping CAGR of 38.06% during the forecast period from 2017 to 2025.
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Personal End-use Vertical to Outshine amongst all
The worldwide market for mixed reality in gaming is broadly evaluated on the basis of component, application, end-use vertical, and geography. Depending upon component, the segments into which the global mixed reality in gaming market is divided are mobile apps, software, and hardware. Of them, in 2015, mobile apps led the overall market vis-à-vis revenue followed by software. Hardware contributed the least revenue to the overall market in 2015.
On the basis of application, the mixed reality in gaming market could be segmented into entertainment and training/learning. Of the two, the entertainment segment is anticipated to lead in terms of market share over the forecast period.
The segments of mixed reality in gaming market depending upon end-use vertical are government, corporate, theme parks, and personal (individual). Amongst all, the personal (individual) segment is anticipated to lead in terms of revenue contribution followed by theme parks over the forecast period.
North America to Continue to Remain Leader through 2025
The global mixed reality gaming market is evaluated on the basis of geography. North America, Europe, Asia Pacific, the Middle East and Africa, and South America are the prime regional markets for mixed reality in gaming considered in this study.
North America led the mixed reality in gaming market in 2015 holding the leading revenue share. Powered by the U.S. and Canada, North America is anticipated to witness the leading growth rate and continue its dominance over the forecast period between 2017 and 2025. This is attributed to the early adoption of advanced technology and the increasing use of mixed reality to facilitate military trainings. Further, investments for the design of mixed reality based theme parks in the U.S. is further bolstering the region's growth.
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Europe is a significant market for mixed reality in gaming with Germany and the U.K. being key domestic markets in the region. The demand in the region is estimated to account for a handsome revenue contribution of US$40.36 mn to the overall market by the end of 2025. The promising growth prospects of the Europe mixed reality in gaming market is attributed to the ceaseless penetration of smart devices such as smartphones. The growth of this regional market is anticipated to be accelerated by the growing adoption of Internet of Things across a number of application areas.
In Asia Pacific, China, Japan, and Australia are key domestic markets for mixed reality in gaming. China held the leading market share in 2015 and the trend is anticipated to continue over the forecast period.
Prominent participants in the mixed reality in gaming market include Canon Inc., Infinity Augmented Reality Inc., Microsoft Corporation (HoloLens), Seiko Epson Corporation, CCP hf, Lenovo Group Ltd., Osterhout Design Group, Six Flags Entertainment Corporation, Dagri LLC, Magic Leap Inc., Recon Instruments Inc., Ubisoft Entertainment, HTC Corporation, Meta Company, and Samsung Electronics Co. Ltd.
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