Press release
Global Market Insights: Immersive Technology Trends and Forecast 2024
Immersive Technology Market Segmentation
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Report Coverage & Details:
• Forecast Period: 2024-2033
• Base Year: 2023
• Market Size In 2024: $154.94 billion
• Revenue Forecast In 2033: $638.69 billion
• CAGR: 42.5%
Global Immersive Technology Market: Segmentation
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)
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Immersive Technology Market Report: Growth Drivers
The increasing popularity of gaming and entertainment is projected to boost the immersive technology market in the future. Gaming and entertainment involve the use of technologies such as virtual reality (VR), augmented reality (AR), and mixed reality (MR) to deliver interactive and captivating experiences for users. Immersive technology, which includes VR, AR, and MR, has transformed the gaming and entertainment sectors by providing more engaging experiences. For example, in 2023, a report from the European Space Agency, a Paris-based governmental organization, indicated that the percentage of parents who played video games with their children rose nearly 35% in 2021 compared to 2020. Thus, the rising gaming and entertainment trends are driving growth in the immersive technology market.
Key Developments:
Schneider Electric Expands Digital Automation Portfolio With AVEVA Integration
In January 2023, Schneider Electric, a France-based digital automation and energy management company, acquired AVEVA for an undisclosed amount. With this acquisition, Schneider aims to bring together energy and process across the economic cycle, ensuring the creation of customer value. AVEVA is a UK-based provider of immersive technology and training systems.
Top Market Leader Included:
Google LLC, Samsung Group, Sony Corporation, Lockheed Martin Corporation, Honeywell International Inc., 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.), VI-grade GmbH, Atheer Inc., NCTech Limited, Blippar Ltd., Zeality Inc.
Immersive Technology Industry: Regional Landscape
North America was the largest region in the immersive technology market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the immersive technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the immersive technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
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What Does The Global Immersive Technology Market Report Include?
1.Introduction
• Overview of the Immersive Technology Market
• Comprehensive Analysis of Immersive Technology Market
2. Immersive Technology Market Drivers and Restraints
• Drivers and Restraints For Historic And Forecast Period
3. Immersive Technology Market Segmentation
• By Drug Class
• By Indication
• By Distribution Channel
4. Competitive Landscape And Company Profiles In The Immersive Technology Market
• Overview
• Products and Services
• Strategy
5. Immersive Technology Market Regional And Country Analysis
• By Region
• By Country
6. Market Trends And Opportunities In Immersive Technology Market
• Technological Advancements
• Emerging Trends
7. Immersive Technology Market Future Outlook and Potential Analysis
• Growth Strategies
• New Opportunities
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