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MR Market To Reach $6.9B by 2024

MR Market To Reach $6.9B by 2024

The global mixed reality market is expected to reach $6.86 billion by 2024, according to a new report conducted by Grand View Research.

The report states this market growth will be boosted by entertainment, automobile and aerospace design. This has already been evidenced by Mercedes-Benz deploying MR to realize advanced manufacturing facilities in their van technology center through overlaying digital crash simulation data on physical crash vehicles, the visualization of out-of-position and validation of flexible parts, and digital assembly and disassembly simulations with collision testing.

 

Hot To Shop

The report also suggests that e-commerce and retail will grow at a remarkable pace, aided by reduced costs of production and increased efficiency over the forecast period due to the advanced technology adoption in numerous industries.

 

Hot Spots

North America will 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. The report also anticipates that Asia Pacific is expected to witness a substantial growth over the forecast period.


Editor

Steve is an award-winning editor and copywriter with 20 years’ experience specialising in consumer technology and video games. He was part of a BAFTA nominated developer studio as project manager for the UK’s first fully interactive digital TV channel. In addition to editing TheVirtualReport.biz, Steve contributes to PocketGamer.biz, PCGamesInsider.biz and BlockchainGamer.biz, as well as creating marketing content for a range of SMEs and agencies.

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