Impact of covid-19 on the Global Mixed Reality Market
The Coronavirus (COVID-19) outbreak has caused hardships for billions of people across the world. The COVID-19 pandemic has impacted businesses across the globe. Early-stage technologies such as mixed reality, virtual reality, and augmented reality have also seen some ups and downs during this pandemic. The COVID-19 pandemic has uplifted the mixed reality market to some extent. The outbreak has also had some negative effects on these technologies as they are not fully developed and are also not being used much in the current situation. The pandemic has created some opportunities for the mixed reality market. However, due to the breakdown of the overall supply chains of various industries such as IT & telecommunication, transportation & logistics, and others, the supply of end-use mixed reality products has been affected. For instance, various technology giants such as HTC, MagicLeap, Valve, and others have designed VR headsets that can support video conferencing calls between the employees working from home. But due to the lockdown, only essential items are allowed to be delivered in many countries. This has disrupted the supply chain of products such as AR/VR headsets and restricted the delivery of these products to the end-users. However, the companies currently using these products may benefit from their use as VR headsets have shown an increase in the employees’ attention span by 25% as compared to video conferencing.
The post-pandemic benefits of mixed reality are expected to boost the market value in the next two years. During this lockdown, companies such as Lenskart and CaratLane are using mixed reality technologies that allow customers to buy products from the comfort of their homes in an enhanced way. For instance, Lenskart, an online eyewear portal, allows its customers to purchase eyewear by trying it on using realistic, 3D models with the use of their webcams. This helps the customers to choose the best fit. Similarly, CaratLane, an online jewelry platform, enables the customers to see how the jewelry looks on them.