Immersive Technologies Market is estimated to be US$ 1491.07 bllion by 2020 with a CAGR of 38.4% during the forecast period 2030
Immersive Technologies Market accounted for US$ 81.82 billion in 2020 and is estimated to be US$ 1491.07 billion by 2030 and is anticipated to register a CAGR of 38.4%. Immersive Technologies allow a new medium of visualization. Use of an artificial or simulated environment is used in Immersive Technologies in which the individual can completely immersed in process. Augmented reality (AR), Virtual reality (VR) and Mixed reality (MR) are included in the Immersive Technologies. AR-capable mobile devices and individual headsets are the digital tools in Immersive Technologies. Immersive Technologies help the student to explore real world and learn new information more effectively which help them in developing skills like teamwork, communication, critical thinking and problem solving. Augmented reality (AR) augments a real world scene and about 25% virtual. AR doesn’t require headset device, they are in contact with real world. Virtual reality (VR) creates immersive virtual environment and about 75% virtual. Virtual reality users are completely in fiction world and requires headset device. Mixed reality (MR) is also known as immersive media which allows digital content to enrich, interact, and integrate with real-world environment by users. Increase in use of Immersive Technologies in education, healthcare has given rise in Immersive Technologies Market.
The report “Global Immersive Technologies Market, By Type (Augmented Reality (AR), Virtual Reality (VR), Mixed Reality (MR) and Others), By Application (Construction, Architecture, Military, Defence, Engineering, Healthcare, Education and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”
Key Highlights:
· In August, 2022, Samsung Launched Immersive Technology experience called ‘In Tune With You’, at Heathrow’s T5, by retail technology agency which will allows the passengers to relax, reconnect and recharge. Passengers can able to have a fun and experience on immersive and versatile screen of Galaxy Z in digital form.
· In May, 2022, HCL Technologies has launched the (X) to power world class digital engagement for global consumer brands which includes rich media management, multilingual content delivery, real-time notifications and communication.
Analyst View:
Innovation in Immersive Technologies is growing around the world, owing to technology developments. The use of Immersive tools are in demand in healthcare, education which has become cost effective. As a result, increase demand for immersive tools will lead to rise in growth in Immersive Technologies Market.
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Key Market Insights from the report:
Global Immersive Technologies Market accounted for US$ 81.82 billion in 2020 and is estimated to be US$ 1491.07 billion by 2030 and is anticipated to register a CAGR of 38.4%. The Global Immersive Technologies Market is segmented based on Type, Application and Region.
· Based on Type, Global Immersive Technologies Market is segmented into Augmented Reality (AR), Virtual Reality (VR), Mixed Reality (MR) and others.
· Based on Application, Global Immersive Technologies Market is segmented into Construction, Architecture, Military, Defence, Engineering, Healthcare, Education and others.
· By Region, the Global Immersive Technologies Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Competitive Landscape & their strategies of Global Immersive Technologies Market:
The prominent players operating in the Global Immersive Technologies Market includes, Carl Zeiss AG, HCL Technologies Limited, Barco NV, Unity Software Inc., Magic Leap, VI-grade GmbH, Google, The Samsung Group, EON Reality Inc., Honeywell International Inc., Acer Inc., Blippar Ltd., Zeality Inc., AVEVA Group PLC, Sony Corporation, Varjo Technologies Oy, Lockheed Martin Corporation, Atheer Inc., and others.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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