Mixed Reality Market Size To Reach $40.58 Billion By 2030

January 2025 | Report Format: Electronic (PDF)

Mixed Reality Market Growth & Trends

The global mixed reality market size is expected to reach USD 40.58 billion by 2030, expanding at a CAGR of 34.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The surging acceptance in entertainment and automobile & aerospace designing arenas is expected to boost the market growth. The increasing acceptance in the entertainment industry, specifically in gaming and film-making, is further anticipated to bolster the market growth.

The market can be categorized on the basis of application types into automotive & aerospace, medical, entertainment, e-commerce & retail, and others. The e-commerce & retail application segment is expected to grow at a remarkable pace owing to the surging incorporation by e-tailers for goods’ promotion and advertising; for instance, in fashion houses for providing virtual product experiencing, thus delivering an enhanced appeal factor.

The MR technology offers many advantages to the automotive industry, particularly in safety. For instance, Mercedes-Benz vans deploy MR to realize advanced manufacturing facilities in their van technology center through:

The overlay of digital crash simulation data on physical crash vehicles
The visualization of out-of-position and validation of flexible parts
Digital assembly and disassembly simulations with collision testing

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Mixed Reality Market Report Highlights

The global mixed reality market is estimated to grow significantly over the forecast period due to the advanced technology adoption in numerous industries, leading to reduced costs of production and increased efficiency. The technological superiority of mixed reality in dynamic application arenas of large magnitude is estimated to trigger the demand by 2030.
The MR technology would become an essential part of the retail industry, which is expected to drive the industry growth over the forecast period. Most of the retailers would use this technology to provide their customers with an interactive experience, which gives their shopping a whole new edge. Retailers can use mixed reality in many ways, such as by including it in interactive promotions; providing accuracy in a buying process; and localizing businesses, deals, and offers.
North America is anticipated to mature as one of the prominent regional markets, owing to the high adoption in the automotive and aerospace designing industry coupled with the rising R&D spending. Asia Pacific is expected to witness a substantial growth over the forecast period. The surge in the demand across various application arenas is expected to spur the market demand.