Immersive Technology Market Outlook On The Basis Of Component, Technology, Application, Industry, Region And Forecast


 San Francisco, 24 May 2024: The Report Immersive Technology Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Technology, By Application, By Industry, By Region, And Segment Forecasts, 2023 - 2030

The global immersive technology market size is expected to reach USD 169.24 billion by 2030, expanding at a CAGR of 25.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. Over the past few years, these technologies have found extensive applications in various notable sectors, such as gaming, healthcare, education, and construction, among others.

Governments around the world have recognized the potential of immersive technology to boost economic growth, increase productivity, and improve infrastructure. A notable example is the “Digital India” initiative of the Government of India. The developing process of transforming India into a digitally empowered nation has led to a massive adoption of this technology. Government focus on fostering innovation and digitization has led to increased visibility and application of VR & AR solutions in sectors such as education and healthcare.

Governments are incorporating immersive technology solutions in education to transform learning experiences. Projects such as the “EdTech Mission” in Singapore aim to integrate VR and AR solutions in classrooms to provide students with interactive and engaging educational content. This not only increases subject understanding but prepares students for a technology-driven future. Moreover, in manufacturing, the government uses this technology to increase efficiency and safety of operations.

Germany’s “Industry 4.0” initiative encourages the integration of virtual and augmented reality into production processes. This has led to the creation of smart workstations where employees use AR glasses to capture items. Besides this, the establishment of such smart workplaces has also enabled employees to access real-time feedback, thus improving accuracy of processes and reducing errors.

Access Research Report of Immersive Technology Market @ https://www.grandviewresearch.com/industry-analysis/immersive-technology-market-report

Immersive Technology Market Report Highlights

  • The hardware component segment exhibited robust demand, driven by an increased popularity and use cases of AR and VR devices. Advancements in headsets, sensors, and haptic feedback systems have enhanced user experiences, attracting both consumers and businesses
  • The augmented realitytechnology segment is expected to expand at a substantial CAGR through 2030 in this market
  • Training and learning emerged as the dominant application segment in 2022. This segment is poised for sustained expansion through 2030, thus shaping the future of training methodologies
  • Healthcare has experienced positive growth, owing to a steadily increasing adoption of VR and AR technologies across diverse application areas, including surgical training, patient therapy, aids in medical imaging, etc.
  • North America dominated the market for immersive technology in 2022. This regional growth is aided by increased adoption of immersive technology products in various industries such as gaming, healthcare, education, and enterprise
  • In July 2023, HCL Technologies became a part of the XR Startup Program, which is an initiative between Meta Inc. and the Indian Ministry of Electronics and Information Technology to discover, develop, and accelerate the progress of extended reality (XR) technology start-ups in India

Immersive Technology Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 34.16 billion

Revenue forecast in 2030

USD 169.24 billion

Growth rate

CAGR of 25.7% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

List of Key Players in the Immersive Technology Market

  • Barco NV
  • EON Reality
  • Google LLC (Alphabet Inc.)
  • HTC Corporation
  • IBM Corporation
  • Magic Leap
  • Meta
  • Microsoft Corporation
  • Samsung Electronics Co., Ltd.
  • Sony Corporation
  • Ultraleap Limited (Leap Motion, Inc.).

Access Press Release of Immersive Technology Market @ https://www.grandviewresearch.com/press-release/global-immersive-technology-market

 

Comments

Post a Comment

Popular posts from this blog

U.K. Point Of Sale Software Market To Expand Industry Growth At USD 1.05 Billion By 2028

Image
  San Francisco, 21 Jan 2022:   The Report  U.K. Point Of Sale Software Market  Size, Share & Trends Analysis Report By Application (Fixed POS, Mobile POS), By Deployment, By Organization Size, By End-user, And Segment Forecasts, 2021 - 2028 The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein ...
Read more

Gas Detection Equipment Market Anticipated To Expand At A CAGR 9.7% From 2021 To 2028

  San Francisco, 5 May 2021:   The Report  Gas Detection Equipment Market  Size, Share & Trends Analysis Report By Product, By Technology (Infrared, Catalytic, PID), By End-use, By Region, And Segment Forecasts, 2021 - 2028 The global gas detection equipment market size is expected to reach USD 8.38 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 9.7% from 2021 to 2028. The market growth can be attributed to the growing awareness among governments regarding the harmful effects of greenhouse gases, coupled with their increased efforts toward protecting the environment. Major industries such as petroleum, oil, and gas, among others are needed to comply with safety and environmental regulations which are also major factors driving the market growth. Many companies are focused on introducing drone-based gas detection equipment, which is expected to create new opportunities for market growth in...
Read more