Mixed Reality Headsets Market Analysis And Forecast To 2031: By Technology (Augmented Reality (AR), Virtual Reality (VR)), By Product Head-mounted Display, Smart Glasses), By End-user (Entertainment, Healthcare, Aerospace & Defense, Automotive, Retail, in

Mixed Reality Headsets Market Analysis And Forecast To 2031: By Technology (Augmented Reality (AR), Virtual Reality (VR)), By Product Head-mounted Display, Smart Glasses), By End-user (Entertainment, Healthcare, Aerospace & Defense, Automotive, Retail, industrial, Other), And Region

The global Mixed Reality Headsets Market was valued at USD 3.2 Billion in 2021 and it is anticipated to grow up to USD 22.2 Billion by 2031, at a CAGR of 21.3% during the forecast period.

Mixed reality headsets are devices that allow users to experience both virtual and real-world environments at the same time. These devices can be used for a variety of purposes, including gaming, education, and work. Mixed reality headsets typically include a head-mounted display, sensors, and a controller. The head-mounted display provides a virtual environment for the user, while the sensors track the user’s movements and the controller allows the user to interact with the environment.
Global Mixed Reality Headsets Market Scope and Report Structure

Market Trends and Drivers
Growing penetration of VR and AR technologies across various applications such as automotive, gaming, healthcare, education, industrial; and retail is expected to drive the mixed reality headsets market growth over the forecast timespan. These devices are being rapidly adopted in retail, from apparel to home décor, to attract customers and increase brand loyalty. These devices allow retailers to immerse the customers in customized worlds. In recent years, augmented reality & virtual reality technologies for collecting sights and sounds have gained popularity due to technological advancements. In addition, the accessibility of numerous electronic items like tablets, and other smart devices interoperable with augmented reality and virtual reality technologies has resulted in a major expansion of market prospects. In January 2022, Microsoft Corporation Inc. debuted its HoloLens 2 mixed reality headset in India. The headset’s artificial intelligence, time-of-flight depth sensor, and semantic understanding enable users to interact with holograms in a more realistic manner.
Market Restraints and Challenges
The key restraints and challenges in mixed reality headsets market are mainly due to the high cost of the hardware and the lack of content. The hardware cost is a major challenge as it is not affordable for a large number of people. The lack of content is also a challenge as there is not much content available for people to consume. Lack of quality content is expected to challenge the mixed reality headsets market. To attract customers and gain a strong foothold in the industry, companies need to ensure that enough good quality content is available on the internet. Moreover, rising health concerns due to the prolonged use is expected to challenge the industry in the long term. Users may also experience eye strain since they need to focus on a pixelated screen with these near-to-eye devices.
Global Mixed Reality Headsets Market Segmental Overview
The report analyses the global Mixed Reality Headsets Market based on technology, product, end-user, and region.

Global Mixed Reality Headsets Market by Technology

By technology, the market is segmented into augmented reality, and virtual reality. The virtual reality segment accounted for significant market share in 2021 and is expected to register lucrative CAGR over the forecast period. This expansion is attributable to the broad use of virtual reality and the increasing popularity of industrial Internet of things, industrial robots, and smart factories, which have provided a major platform for VR uses in the manufacturing sector. 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.

Global Mixed Reality Headsets Market by Product

By product, the Mixed Reality Headsets Market is classified into head-mounted display, and smart glasses. 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.

Global Mixed Reality Headsets Market by End-user

Based on end-user segment of the market is bifurcated into entertainment, healthcare, aerospace & defense, automotive, retail, industrial, and others. 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.
Geographical Analysis of Global Mixed Reality Headsets Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America Mixed Reality Headsets Market revenue is poised to grow significant CAGR during the forthcoming years. This is 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.
Major Players in the Global Mixed Reality Headsets Market
The key players in the Mixed Reality Headsets Market Apple Inc., Atheer, Inc., Dell, GlassUP S.r.l, Google LLC, The Hewlett-Packard Company, HTC Corporation, Lenovo, LG Electronics Inc., and Samsung. among others.
COVID-19 Impact
The outbreak of the COVID-19 pandemic has halted the operations of various industries, majorly manufacturing sector. The shortage of labour, supply chain disruption, shutdown of the manufacturing units and complete lockdown have significantly affected the manufacturing sector. However, the integration of augmented reality and virtual reality to remove physical trials helps businesses save R&D expenses. Moreover, VR technologies cut training expenses and enable enterprises to redeploy resources for improved outputs.
Recent Developments

In Aug-2022: Vuzix Corporation launched Blade 2 smart glasses, its third generation Blade model. This Blade 2 is an AR workforce solution developed on the popular Blade form factor, which would provide a host of better features and high performance specifically developed to fulfill the requirements of connected workers.
In Aug-2022: Vuzix Corporation signed an agreement with L3Harris Technologies, an American technology company. This agreement aimed to create a personalized waveguide-based optics engine, which aimed to be utilized in head borne systems developed for military applications.
In May-2022: Microsoft came into a partnership with Kawasaki, a group of motorsport vehicles. Under this partnership, Kawasaki became a new customer for the tech giant’s “industrial metaverse”, which is a fancy way of saying factory floor workers to wear a HoloLens headset to assist with production, repairs, and managing supply chains.
In May-2022: Google took over Raxium, a Bay Area startup. This acquisition aimed to work on microLED display technologies for wearables and augmented & virtual reality (AR and VR) headsets.
In May-2022: ESI Group teamed up with ENSAM, a French engineering and research institute of higher education. Through this collaboration, ESI Group would expand its commitment to the industrial and academic ecosystems by enabling Inspector software accessible to as many individuals as possible, allowing them to collaborate on a dependable and flexible solution to tackle the technological problems and special requirements of the community.
In Feb-2022: Harman International, a subsidiary of Samsung Electronics took over Apostera, a German automotive software firm. This acquisition aimed to expand its business in the augmented reality and mobility technology sector. Integrated with Harman’s digital cockpit product portfolio, Apostera’s technologies would narrow the gap between the physical and digital worlds.
In Jan-2022: Microsoft launched its mixed reality headset HoloLens 2 in India. HoloLens 2 assists companies and their employees to complete important tasks quickly, safely, and more efficiently, and develop new ways to connect with customers as well as partners.
In Jan-2022: Microsoft joined hands with Qualcomm Technologies, an American multinational corporation. This collaboration aimed to expand and boost the adoption of augmented reality (AR) in the consumer and enterprise sector. Under this collaboration, Qualcomm Technologies would work with Microsoft across various initiatives to support the ecosystem, comprising the development of custom AR chips to allow a new wave of power-efficient, lightweight AR glasses to offer rich and immersive experiences, and plans to combine software such as Microsoft Mesh and Snapdragon Spaces XR Developer Platform.

Frequently Asked Questions
Q1. How big is the Mixed Reality Headsets Market?

Ans. The global Mixed Reality Headsets Market was valued at USD 3.2 Billion in 2021 and it is anticipated to grow up to USD 22.2 Billion by 2031, at a CAGR of 21.3% during the forecast period.

Q2. What is the Mixed Reality Headsets Market growth rate?

Ans. The growth rate of the Mixed Reality Headsets Market is 21.3%

Q3. Which region holds a major market share for the market?

Ans. North America holds a major market share of the Mixed Reality Headsets Market in 2021.

Q4. Which segment accounted for the largest Mixed Reality Headsets Market share?

Ans. By end-user, the healthcare segment accounted for the largest Mixed Reality Headsets Market share.

Q5. Who are the key players in the Mixed Reality Headsets Market?

Ans. The global Mixed Reality Headsets Market report includes players such as Apple Inc., Atheer, Inc., Dell, GlassUP S.r.l, Google LLC, The Hewlett-Packard Company, HTC Corporation, Lenovo, LG Electronics Inc., and Samsung, among others.

Q6. What are the factors driving the Mixed Reality Headsets Market growth?

Ans. The major factors driving the growth of the market are streamlined way of maintenance and enhanced quality control

Q7. What are the key growth strategies of Mixed Reality Headsets Market players?

Ans. The key growth strategies of Mixed Reality Headsets Market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Mixed Reality Headsets Market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Mixed Reality Headsets Market during the forecast period.

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