Mixed Reality Headsets Market to surpass $35bn by 2024

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Mixed Reality Headsets Market to grow at 35 CAGR
from 2017 to 2024 Global Market Insights Inc.
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Industry Overview

• The mixed reality headsets market is expected to
  grow at a significant rate, owing to growing
  usage in employee training across several end-use
  industries including retail, automobile,
  aerospace defense, and industrial
  manufacturing. The devices enable the trainees to
  learn and experience with the interactive objects
  within their present environment. For instance,
  the 200 training centers of the retail giant,
  Walmart are planning to incorporate the virtual
  reality platform by the end of 2017 to train
  employees. The employees will Oculus Rift
  headsets to train on different real-world
  scenarios.
• Rising need of retailers to inspire their
  customers through AR/VR video marketing is
  expected to propel the mixed reality headsets
  market growth. 2D videos cannot offer high degree
  of customer engagement, which AR/VR can, thus
  enabling the companies to attract the target
  group of customers. For instance, the Oreo Wonder
  Vault VR campaign takes users through the
  facility where its cookie flavors are conceived.
  According to YuMe, a video advertising company,
  emotional attachment to a brand increased by 27
  in a VR experience. Also, the customer engagement
  duration is far higher for VR content, which will
  propel the mixed reality headsets market growth
  significantly.

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• High product costs are expected to restrict the
  commercial adoption of these devices, thus
  impacting the mixed reality headsets market
  growth. Increasing technological advancements and
  innovations in the products are compelling the
  manufacturers to sell the products at premium
  prices making them much less affordable for
  customers across several industries and consumers
  in the gaming sector. However, with the
  increasing number of players entering the mixed
  reality headsets market and rising
  commercialization of AR and VR devices, the
  prices are expected to witness gradual decline
  making them affordable, thereby increasing the
  adoption rate.
• AR devices are expected to grow at the highest
  growth rate in the mixed reality headsets market,
  due to its ability to overlay information on
  reality. These devices are gaining popularity due
  to applications across healthcare, automotive,
  and industrial sectors. Smart glasses will
  witness high adoption owing to the low costs and
  high degree of convenience offered, as compared
  to HMDs. The usage of these devices in day-to-day
  applications is increasing gradually, with the
  growing need to get the right information when
  required, thereby driving the mixed reality
  headsets market growth.

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Japan VR headsets market size, by application,
2016 2024 (USD Million)

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Industry Coverage
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• The China mixed reality headsets market is
  anticipated to witness significant growth during
  the forecast timeframe, owing to the presence of
  large number of players in the region.
  Development of low-cost products, due to the
  presence of several material suppliers and
  cost-effective labor is expected bode well for
  the mixed reality headsets market growth in
  China.
• The Germany mixed reality headsets market will
  witness increased demand, owing to increasing
  implementation in the automotive industry.
  Moreover, the technology is being used in
  applications such as marketing, training, and
  design development in automobiles. For instance,
  the BMW service engineers use AR HMDs to see the
  instructions and tools to be used.
• Some of the prominent players in the mixed
  reality headsets market comprise Facebook/Oculus,
  Microsoft, HTC, Sony Corporation, Samsung
  Electronics, Lenovo, GlassUP S.r.l, Optinvent,
  Solos, Vuzix Corporation, and Seiko Epson
  Corporation. Small players are continuously
  entering the mixed reality headsets market due to
  its attractiveness and huge market potential.
  These companies in the market need to invest
  increasingly in RD and new product development
  to gain competitive edge. For instance, Optinvent
  has created and patented its Clear-Vu technology,
  that enables see-through near the eye.

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