Dublin, Sept. 10, 2024 (GLOBE NEWSWIRE) — The “Immersive Technology Global Market Report 2024” report has been added to ResearchAndMarkets.com’s offering.
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 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 observed in the historic period can be attributed to advancements in hardware, gaming, and entertainment sectors, an increasing demand for Virtual Reality (VR) head-mounted displays (HMDs), the widespread proliferation of smartphones and Internet of Things (IoT)-connected devices, the emergence of consumer VR, and a growing demand for digitalization across various industries.
The anticipated growth in the forecast period can be attributed to the increasing adoption of immersive technology in learning and shopping, the global acceptance of multimedia tools, the rising popularity of esports, enhanced accessibility to immersive content, and a growing demand for head-mounted displays. Noteworthy trends in the forecast period encompass ongoing technological development, the emergence of the metaverse and Web 3.0, the promotion of remote collaboration, increased investment in research and development, and a rise in the utilization of immersive technology for virtual events.
The upward trajectory of gaming and entertainment is expected to drive the expansion of the immersive technology market in the coming years. Gaming and entertainment industries leverage technologies such as Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) to craft interactive and captivating experiences for users. Immersive technology, encompassing VR, AR, and MR, has significantly transformed these sectors, providing users with more engaging and realistic experiences.
Prominent entities within the immersive technology market are channeling their efforts towards developing cutting-edge technological solutions, particularly in the realm of immersive interactive technology, to enhance their market position. Immersive interactive technology combines various tools and techniques to create participatory experiences where users actively engage within simulated or augmented environments.
Competitive Landscape and Company Profiles
- Google LLC
- Samsung Group
- Sony Corporation
- Lockheed Martin Corporation
- Honeywell International Inc.
Other Major and Innovative Companies
- HCL Technologies Limited
- Carl Zeiss AG
- Acer Inc.
- PTC Inc.
- AVEVA Group PLC
- Unity Software Inc.
- Barco NV
- Magic Leap Inc.
- HTC Corporation
- Immersive Technologies Pty Limited
- Varjo Technologies Oy
- EON Reality, Inc.
- FAAC Incorporated
- CM Labs Simulations Inc.
- Oculus (Facebook Technologies, LLC.)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 – 2028 |
| Estimated Market Value (USD) in 2024 | $154.94 Billion |
| Forecasted Market Value (USD) by 2028 | $638.69 Billion |
| Compound Annual Growth Rate | 42.5% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Immersive Technology Market Characteristics
3. Immersive Technology Market Trends and Strategies
4. Immersive Technology Market – Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Immersive Technology Market Size and Growth
5.1. Global Immersive Technology Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Immersive Technology Historic Market Size and Growth, 2018 – 2023, Value ($ Billion)
5.3. Global Immersive Technology Forecast Market Size and Growth, 2023 – 2028, 2033F, Value ($ Billion)
6. Immersive Technology Market Segmentation
6.1. Global Immersive Technology Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Hardware
- Software Or Platform
- Services
6.2. Global Immersive Technology Market, Segmentation by Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Mixed Reality (MR)
- Virtual Reality (VR)
- Augmented Reality (AR)
360 Film
6.3. Global Immersive Technology Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Training and Learning
- Product Development
- Emergency Services
- Sales and Marketing
6.4. Global Immersive Technology Market, Segmentation by Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Healthcare
- Retail and eCommerce
- Education
- Construction
- Media and Entertainment
- Gaming
- Manufacturing
- Aerospace and Defense
- Other Industries
7. Immersive Technology Market Regional and Country Analysis
7.1. Global Immersive Technology Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Immersive Technology Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/8dnbdg
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- Global Immersive Technology Market
