The Immersive Technology Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Immersive Technology Global Market Report 2024, The immersive technology market size has grown exponentially in recent years. It will grow from $108.46 billion in 2023 to $154.94 billion in 2024 at a compound annual growth rate (CAGR) of 42.9%. The growth in the historic period can be attributed to advancements in hardware, gaming, and entertainment, growing demand for virtual reality (VR) head-mounted displays (hmds), proliferation of smartphones and iot-connected devices, emergence of consumer vr, demand for digitalization.
The immersive technology market size is expected to see exponential growth in the next few years. It will grow to $638.69 billion in 2028 at a compound annual growth rate (CAGR) of 42.5%. The growth in the forecast period can be attributed to increasing adoption of learning and shopping, global acceptance of multimedia tools, rising popularity of esports, immersive content accessibility, demand for head-mounted displays. Major trends in the forecast period include technological development, the emergence of metaverse and web 3.0, remote collaboration, increased investment in research and development, a rise in the use of immersive technology for virtual events.
Rising gaming and entertainment are expected to propel the immersive technology market going forward. Gaming and entertainment refer to the utilization of technologies such as virtual reality (VR), augmented reality (AR), and mixed reality (MR) to create interactive and engaging experiences for users. Immersion technology, encompassing Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR), has revolutionized the gaming and entertainment industries by offering more immersive and engaging experiences. For instance, in 2023, according to the European Space Agency, a Paris-based government organization, the percentage of parents who played video games with their children increased nearly 35% in 2021 compared to 2020. Therefore, the rising gaming and entertainment are driving the immersive technology market.
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The immersive technology market covered in this report is segmented –
1) By Component: Hardware, Software/Platform, Services
2) By Technology: Mixed Reality (MR), Virtual Reality (VR), Augmented Reality (AR), 360 Film
3) By Application: Training & Learning, Product Development, Emergency Services, Sales & Marketing
4)By Industry: Healthcare, Retail & eCommerce, Education, Construction, Media & Entertainment, Gaming, Manufacturing, Aerospace & Defense, Others (Automotive, Energy)
Major companies operating in the immersive technology market are focused on developing new technological solutions, such as immersive interactive technology, to strengthen their position. Immersive interactive technology refers to a blend of tools and techniques that create engaging experiences where users actively participate within a simulated or augmented environment. For instance, in November 2022, Echo Healthcare, Inc., a US-based provider of highly realistic medical simulation training tools, launched its newest software platform, operating its Immersive Interactive technology, Immersive Studio. Immersive Interactive can create its content within the system and share content amongst a wide variety of user groups. Immersive Studio software does not require the use of goggles or headsets, enabling group learning environments. With the Immersive Studio, users receive a 360-degree camera that they can use to easily record and upload their local content in a cloud-based environment from anywhere. This technology provides high-quality projections that allow learners to feel like they are in that exact environment.
The immersive technology market report table of contents includes:
- Executive Summary
- Immersive Technology Market Characteristics
- Immersive Technology Market Trends And Strategies
- Immersive Technology Market - Macro Economic Scenario
- Global Immersive Technology Market Size and Growth
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- Global Immersive Technology Market Competitive Benchmarking
- Global Immersive Technology Market Competitive Dashboard
- Key Mergers And Acquisitions In Immersive Technology Market
- Immersive Technology Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Google LLC
- Samsung Group
- Sony Corporation
- Lockheed Martin Corporation
- Honeywell International Inc
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Reports and Data has recently published a new report on global Immersive 3D Audio Technology market forecast to 2028.
The report evaluates vital features about existing and expected market over the forecast period.
It offers a detailed industry analysis of market size, market growth, emerging trends, key restraints and top companies.
The data has been collected through immense research and is assessed by professional industry experts to provide key insights into statistical market data.
The data is represented in the form of tables, diagrams and charts to offer easy glance of the market scenario to the readers.
Key Companies in the market include: Qualcomm,Sennheiser,Terma A/S,Roland Corporation and others.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3046 The report aims to offer overall analysis of the global Immersive 3D Audio Technology market with essential information about the key companies including their market position, new product launches, revenue contribution, expansion strategies, and overall company profiling.
According to the new market research report "Immersive Simulator Market by Simulation Environment (Console Operator, Field Operator), Offering (Hardware, Software & Services), Application (Training, Product Development, Emergency Services), Industry, and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market is estimated to reach USD 11.44 Billion by 2022, at a CAGR of 35.13% between 2016 and 2022.
Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=172219629 The growth of this market is majorly driven by the increasing applications in the medical industry, risk mitigation in oil and gas industries through training in immersive simulator, and ability to transfer knowledge quickly through training in immersive simulators.
The introduction of immersive simulators in intensive training would help the surgeons to master techniques and achieve surgical expertise.
Software and services to hold the largest share of the immersive simulator market for offering The large market share of the software and services of immersive simulators is attributed to the increasing capital expenditure on smart manufacturing.
Inquiry Before Buying: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=172219629 Asia-Pacific expected to dominate the immersive simulator market between 2016 and 2022 The immersive simulator market in APAC held the largest market share in 2015 owing to the huge demand for immersive simulators in metal and mining, oil and gas, aerospace and defense, and medical and biotech industries.
Australia has added the functional use of immersive simulator in metal and mining industry, while China, Japan, and India have contributed to the market growth in the aerospace and defense as well as medical and biotech industries.
