Mixed Reality Headsets Market Analysis

Mixed Reality Headsets Market Analysis

Evolution in the gaming industry and high demand for advanced devices has drastically increased the use of AR and VR devices in the mixed reality headsets market. Commercial use of VR devices is higher than the AR counterparts, due to low cost and wide usage of immersive devices in the gaming industry. These are being increasingly adopted in the movie theatres due to their ability to block distractions and ambient light, thus providing users enhanced experience. The augmented reality headsets market is very attractive, with Apple expected to release its AR offering around 2019. The segment is projected to grow at over 70% CAGR over the forecast timeline.
 

Some of the media companies have developed applications that are compatible with mixed reality headsets. For instance, Netflix has developed a VR app that is compatible with the Samsung Gear devices and shows content in 720p HD resolutions.
 

HMDs is expected to grow significantly over the next seven years in the mixed reality headsets market, owing to the presence of large number of manufacturers. Easy availability of raw materials and software required to manufacture these devices is expected to bode well for the industry growth. High demand for HMDs is expected from the aerospace & defense sector. These devices are being used for training and simulation in manufacturing and flying aircrafts. In December 2015, NASA announced that the astronauts will use the Microsoft HoloLens as a real-time instruction manual. The project called Project Sidekick is undertaken to facilitate closer communication between ground control and the astronauts in space.
 

Healthcare applications in the mixed reality headsets market are growing significantly, owing to enhanced capabilities of these devices in diagnostic and therapy segments. Many small players in the industry are investing to develop new products to cater to the requirements from the healthcare sector. For instance, in September 2017, a U.S.-based startup, NuEyes announced the development of smart glasses for the people with impaired vision. The battle to capture the three trillion-dollar healthcare industry has started with the tech-giants such as Apple and Google acquiring healthcare technology companies to develop smart glasses for diagnosis. At the World Economic Forum in January 2017 in Davos, Bill McDermott, SAP CEO emphasized that personalized medicine using technology will be the future of the healthcare industry and that the industry will move from an analog experience to digital, thus propelling the mixed reality headsets market growth.
 

The U.S. mixed reality headsets market is expected to witness high demand and grow faster than the global average, owing to the rising demand from the aerospace & defense industry in the region. The U.S. military is investing on projects related to these devices to improve efficiency and situational awareness of the ground troops. In May 2017, the Army Research Lab (ARL) and the Army's Communications Electronics Research, Development and Engineering Center (CERDEC) unveiled the prototype of the Tactical Augmented Reality devices, that will enhance soldier’s ability to maneuver the battlefield. The Mixed reality headsets market is characterized by a large number of players, majority of which are located in the U.S. and the customers being early adopters of technology. These factors are expected to impact the U.S. industry positively.
 

The Europe mixed reality headsets market is expected to gain momentum over the forecast timespan, owing to increasing popularity in the entertainment industry. These devices are being increasingly used in theatres, museums, and tourist destinations. For instance, to attract customers after the November 2015 terrorist attacks in France, the theatres in Paris are using smart glasses.