Mixed reality installs to reach 10 billion by 2024
The number of consumer mixed reality apps installed around the world will reach 10 billion by 2024, according to new research.
The study by Juniper Research suggests that social media and games will be the key categories driving expansion in the sector, accounting for more than half of the total market in the next five years.
Mixed reality apps add an additional 'layer' of interactive images or videos to users' views of the real world.
They are run on a smartphone or tablet, or on one of the growing number of smart glasses products.
According to Juniper, 75 per cent of the consumer mixed reality market will be attributable to in-app purchases by 2024.
However, the company also says that these apps will be subject to the same abandonment rates as apps more generally.
Meanwhile advertising spend on mixed reality apps is set to reach $11 billion according to the company, rising from $2 billion in 2019.