Mixed Reality

By: Bank of Baroda
Fri Dec 11, 2020
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Mixed reality symbolizes the controlled collision of AR(Augmented Reality) / VR (Virtual Reality) and IoT trends. It is the merging of Real and Virtual worlds to develop new visualizations and environments in which both digital and physical objects and their data can co-exist and interact with each other.

MR displays images on semi-transparent materials using a projector, which then gets reflected with the help of beam-splitting technology. The various end-users include Maintenance, Defense, Archaeology & Tourism, Architecture & Construction, Interactive Product Content Management (IPCM), Simulation Based Learning (SBL), Navigation, Gaming and Entertainment, Medical and Education and Sports.

Microsoft's Hololens is a well-known example of an existing, commercially available Mixed Reality device. It is a holographic computer you wear around your head, with lenses over your eyes that project holograms you can manipulate and interact with as though they existed in your physical surroundings.

Mixed reality can be used to drive sales, allowing customers to try on outfits before buying or see if a piece of furniture will fit in their home. IKEA recently announced it would launch an AR app (called IKEA Place) that customers can use to digitally place a product in their home to see whether it would fit and how it would look like.

Warby Parker already combines AR technology and facial scanning to create a digital profile of what a customer would look like with a particular pair of glasses.

Major market players includes Oculus VR LLC, Infinity Augmented Reality Inc., Meta Company, Atheer Inc., Vuzix Corporation, Canon Inc., HTC Corporation, Daqri LLC., Sulon Technologies Inc. and Lumus Ltd.

The Global Mixed Reality market was to the tune of $1.05 bn in 2017 and is estimated to surpass $ 10 bn by 2023 growing at an estimated CAGR of more than 73.2% during 2018 to 2023.

As computer chip manufacturer Intel’s website explains, MR “provides the ability to have one foot in the real world, and the other in an imaginary place.” While AR enhances a user’s perception of the real world, MR can blur the difference between what is real and what is not.

Credits : Akhil Handa

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