Data & Research

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.


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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.


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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.

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