Press release
Immersive Technologies Market Set to Reach $493.5 Billion by 2030 - Report by Meticulous Research®
Meticulous Research®, a premier global market research firm, has unveiled a detailed research report titled "Immersive Technologies Market by Offering (Hardware, Software, Services), Technology (Augmented Reality, Virtual Reality, Mixed Reality, Haptics), Application (Training & Learning, Remote Collaboration), Sector, and Geography - Global Forecast to 2030." This report provides an in-depth analysis of the immersive technologies market, projecting significant growth in the coming years.Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5563
The immersive technologies market is anticipated to soar to $493.5 billion by 2030, exhibiting a robust CAGR of 29.4% from 2024 to 2030. This remarkable growth can be attributed to increased investments in immersive technologies, their widespread adoption in the healthcare sector for training, and the rising prominence of the metaverse and Web 3.0. Additionally, the escalating demand for 3D graphics, real-time 3D skills, and the utilization of immersive technologies in architecture, engineering, and construction are poised to create substantial market opportunities. However, challenges such as a shortage of skilled professionals and high hardware costs may impede growth.
Key Players: Prominent players highlighted in the study include:
• Acer Inc. (Taiwan)
• AVEVA Group Plc (U.K.)
• Microsoft Corporation (U.S.)
• Magic Leap, Inc. (U.S.)
• Google LLC (U.S.)
• Sphere Technology Holdings, Inc. (U.S.)
• JuJu Immersive Limited (U.K.)
• Vive Business (HTC Corporation) (Taiwan)
• EON Reality (U.S.)
• Blippar Group Limited (U.K.)
• Barco NV (Belgium)
• Varjo Technologies Oy (Finland)
• Unity Software Inc. (U.S.)
• PTC Inc. (U.S.)
• Ethar, Inc. (U.S.)
Market Segmentation and Insights
The report segments the global immersive technologies market by offering, technology, application, sector, and geography, providing a comprehensive view of market dynamics. It also evaluates competitive landscapes and analyzes regional and country-level market trends.
Browse in depth: https://www.meticulousresearch.com/product/immersive-technologies-market-5563
Offering Segmentation: The market is segmented into hardware, software, and services, with the hardware segment expected to dominate in 2024. This dominance is driven by the increasing adoption of virtual reality headsets across consumer and commercial applications and the ongoing focus of key players on product innovation. For instance, in June 2024, Meta Platforms, Inc. announced its next-generation mixed-reality headset featuring a streamlined design that is 40% thinner than its predecessor. Despite this, the software segment is projected to achieve the highest CAGR during the forecast period.
Technology Trends: In terms of technology, the market encompasses augmented reality, virtual reality, mixed reality, and haptics. The virtual reality segment is expected to hold the largest market share in 2024, owing to its benefits in enhancing learning experiences and the flexibility it offers in creating diverse environments. However, the mixed reality segment is anticipated to experience the fastest growth.
Application Insights: When examining applications, the report highlights training & learning, remote collaboration, visualization, promotion & advertising, product development, remote assistance, content creation, the metaverse, and other uses. The training & learning segment is expected to capture the largest share in 2024, driven by industries increasingly employing immersive technologies to facilitate engaging and realistic learning experiences. Notably, in 2020, The Johns Hopkins University School of Nursing implemented VR training across all educational levels, allowing for repeatable surgical simulations. Meanwhile, the promotion & advertising segment is projected to grow at the highest rate.
Sector Analysis: The immersive technologies market spans various sectors, including education, automotive, aerospace & defense, manufacturing, retail & e-commerce, healthcare & medical devices, real estate, construction, media and entertainment, and others. The media and entertainment segment is anticipated to lead in market share in 2024, fueled by the rise of AR/VR gaming and the integration of haptic technology. A notable partnership in June 2024 between The Walt Disney Company and Apple Inc. to enhance the Disney+ streaming experience on Apple's new AR headset exemplifies this trend. However, the healthcare sector is expected to exhibit the highest growth rate.
Geographic Overview: Geographically, the immersive technologies market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is projected to maintain the largest market share in 2024, supported by significant investments in digital infrastructure and a strong focus on metaverse and Web 3.0 initiatives. Conversely, the Asia-Pacific region is forecasted to grow at the highest CAGR, driven by the increasing application of immersive technologies in real estate and construction, the emergence of new companies, and heightened investment in developing immersive skills.
Buy Now: https://www.meticulousresearch.com/Checkout/76071123
Related Reports:
Augmented and Virtual Reality Market: https://www.meticulousresearch.com/product/augmented-and-virtual-reality-market-5684
Augmented Reality Market: https://www.meticulousresearch.com/product/augmented-reality-market-1223
Metaverse Market: https://www.meticulousresearch.com/product/metaverse-market-5612
Augmented Analytics Market: https://www.meticulousresearch.com/product/augmented-analytics-market-5991
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We are a trusted research partner for leading businesses worldwide, empowering Fortune 500 organizations and emerging enterprises with actionable market intelligence tailored to drive revenue transformation and strategic growth. Our insights reveal forward-looking revenue opportunities, providing our clients with a competitive edge through a diverse suite of research solutions-syndicated reports, custom research, and direct analyst engagement.
Each year, we conduct over 300 syndicated studies and manage 60+ consulting engagements across eight key industry sectors and 20+ geographic markets. With a focus on solving the complex challenges facing global business leaders, our research enables informed decision-making that propels sustainable growth and operational excellence. We are dedicated to delivering high-impact solutions that transform business performance and fuel innovation in the competitive global marketplace.
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