Immersive Technology Market (By Component: Hardware, Software/Platform, Services; By Technology: Mixed Reality (MR), Virtual Reality (VR), Augmented Reality (AR), 360 Film; By Application: Training & Learning, Emergency Services, Product Development, Sales & Marketing; By Industry) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032
The global immersive technology market size was valued at USD 22.5 billion in 2022 and is expected to hit around USD 167.75 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 22.3% from 2023 to 2032.
To Access our Exclusive Data Intelligence Tool with 15000+ Database, Visit: Precedence Statistics
Improved networking protocols and the growing acceptance of multimedia tools are major market revenue-generating aspects. Other significant variables that are anticipated to influence demand for interactive technology and promote market sales increase include the capacity to get experience in such a safe setting, improved gaming experiences, as well as the capability to evaluate theoretical concepts graphically.
The immersive technique combines digital and real-world elements in a way that enables users to interact in a virtual environment naturally. In an immersive environment, the user may come to accept artificial parts of the environment as a piece of the total and lose awareness that they are present. Virtual worlds are both hardware and software products that give users the ability to modify and replace real-world environments to get more information than they can from them. And along the virtual world spectrum, which extends from a purely physical world at one extreme to a fully virtual reality experience at the other, immersion technology is available in various places.
Government-sponsored programs that provide technical and financial assistance, education, and development are predicted to be a financially successful potential for the international economy of interactive technology. The immersion technique combines the actual world with digital or virtual realities. Users can experience the digital space in computer-augmented realities in great detail thanks to immersive technologies. The user of immersion technologies experiences a sense of immersion in the artificial world.
The virtual world refers to augmented worlds and virtual reality which substitutes for the person's surrounding world. The marketplace for interactive technology is developing quickly, with participants using a variety of tactics to draw customers, solidify their positions, and keep up with industry developments. To improve customer experience, industry companies are applying immersion technology in a variety of contexts, including e-commerce, interactive web applications, immersion marketing, brand experiences, and specific geographical explorations.
Report Coverage | Details |
Market Size in 2023 |
USD 27.41 Billion |
Market Size by 2032 |
USD 167.75 Billion |
Growth Rate from 2023 to 2032 | CAGR of 22.3% |
Base Year | 2022 |
Forecast Period | 2023 to 2032 |
Segments Covered | Component, Technology, Application, Industry and Geography |
Companies Mentioned | Acer Inc., Atheer, Inc., AVEVA Group PLC, Barco NV, Blippar Ltd., Carl Zeiss AG, CM Labs Simulations Inc., EON Reality, Inc., FAAC Incorporated, Google, LLC, HCL Technologies Limited, Honeywell International, Inc., HTC Corporation, Immersive Media Company, Immersive Technologies Pty Limited, Lockheed Martin Corporation, Magic Leap, Inc., NCTech Limited, Oculus (Facebook Technologies, LLC.), Samsung Group, Sony Corporation, Unity Software Inc., Varjo Technologies Oy, VI-grade GmbH, Zeality Inc. |
Key Market Drivers
AR is utilized for charting and communicating on the battlefield
The Better gameplay experience offered by virtual objects and slashing capabilities that are alluring to consumers are better crucial drivers of the sales growth of the worldwide immersion electronic industry. This leads to higher interest and engagement in gaming. Physicians in the healthcare sector are using augmented reality (AR) glasses to plan body wounds and access patients' patient data while performing surgery. Throughout courses, learners can perceive text and dynamic capabilities thanks to augmented reality (AR). Augmented reality is being used by businesses to engage with coworkers across offices, boost product development creativity, and teaching personnel. Augmented reality (VR) is also being used in advertising to give consumers a hands-free experience with products. The defense sector is likewise implementing immersive technology. AR is utilized for charting and communicating on the battlefields, whereas VR is employed to teach personnel in a simulated environment that replicates real-world situations. Therefore, expanding the use of interactive technology across a variety of sectors is anticipated to promote sales increase.
Technology development and rising digitalization
Technological development and digitalization have been primary forces behind the adoption of emerging technologies across sectors including retail, healthcare, and industry. The way people live, interact, transport, and study has evolved as a result of ongoing technology improvements. To obtain a competitive advantage competitive advantages, organizations and enterprises have been able to cut manufacturing expenses and save time thanks to technological improvements. For example, 3G & 4G have lowered the operational costs for smaller firms so they can reach their intended audiences. The demand for digitalization has also been fueled by the rising use of cellular telephones. The younger breed, known as generation connected, is responsible for the global shift to digital technology. The development of digitalization has also been aided by improved social connectivity.
Key Market Challenges
Key Market Opportunities
New technologies are significantly influencing how the workplace is being shaped
Utilization HMDs in education
From 2023 to 2032, the head-mounted display equipment segment is anticipated to represent the majority of the market in terms of revenue, with a participation of over 60.7% in 2022. The economic incentive for Virtual reality headsets is being driven by their increasing significance in both consumer and business applications. The variety and adaptability of HMDs, including hybridized, attached, and conscience HMDs, are what is driving the company's development.
These tools are used to deliver instruction in a variety of fields, such as defense, aviation, construction, academia, and medical, and they employ interactive images to show a broad range of scenarios. Organizations are always pursuing technological advancements in this area to order to give clients a more interactive experience. For example, the cutting-edge Rift S VR headset from Oculus, a division of Facebook Companies, LLC, was released in March 2019. It has internal navigation as well as a higher-resolution display than just its predecessors.
The category with gesture-tracking devices is anticipated to experience the highest CAGR throughout the projected timeframe, at 17.6%. The need for optical gesture control, a unique and quickly developing technology that enables more comprehensive and realistic interpersonal contact, has significantly increased, which can be related to the increase in the need for optical movement monitoring. Sensors, CPUs, VR projectors, big-screen screens, and several applications are a few examples of the various kinds of GTD VR hardware. Additionally, several businesses are working that improve the performance of the computers and sensors used in VR devices to give users a more interactive experience.
Over the projection timeframe, the interactive virtual category is anticipated to contribute the biggest income share. By superimposing a computer overlay on the physical surroundings, the augment system produces the blending of real-world and virtual elements to enhance the world today. This enables greater production, fewer accidents, and better performance. Electronic modeling and planning are possible with wearable technology before implementation. Additionally, it makes model validation in the actual world simpler and enables employees to re-evaluate and confirm in real-time. Those are a few of the main variables propelling this market's expansion.
Over the projected period, the entertainment sector is expected to outperform various sectors regarding regard to revenue share. Augmented and virtual realities are causing disruptions in the game industry. While VR offers a full recreation of the person's surroundings, AR integrates game images and sound into the surrounding world. It is anticipated that AR and VR will both boost business profitability and enhance the player experience. To enhance user experience and revenue, plenty of well game development companies are embracing AR and VR technology. Game developers will be able to create high-density, elevated online games thanks to 5G networks.
Immersive Technology Market Share, By Region, 2022 (%)
Regions | Revenue Share in 2022 (%) |
North America | 45% |
Asia Pacific | 18.40% |
Europe | 27.50% |
Latin America | 5.20% |
MEA | 3.90% |
In 2022, North America had the greatest revenue share and the biggest interactive technology market of revenue, and the biggest market for interactive technology. The country's growing technological advancements and changing consumer preferences are mostly responsible for the North American industry's revenue and profit. The desire for head-mounted screens is also being fueled by their rising reputation and limited supply in the country's wealthy nations. Due to the existence of top industry companies in the region, such as Unity Development Corporation, Zeality Corporation, Lockheed Martin, Wizard Jumping, HCL Technologies, Google, Constrained, and Honeywell Worldwide, Inc., the interactive virtual innovation industry in the United States is anticipated to experience strong revenue expansion throughout of the forecast timeframe.
And over the forecast timeframe, the industry for augmented reality technology in Asia-Pacific is anticipated to develop at the quickest CAGR. APAC growing demand is primarily driven by reasons such as rising smartphone ownership, growing disposable income, growing regional nation-state expansion, and unexplored markets for top firms in the sector. Immersion technology is being more widely used for teaching and commerce, which is boosting the APAC industry's expansion.
Segments Covered in the Report
By Component
By Technology
By Application
By Industry
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Immersive Technology Market
5.1. COVID-19 Landscape: Immersive Technology Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Immersive Technology Market, By Component
8.1. Immersive Technology Market, by Component, 2023-2032
8.1.1. Hardware
8.1.1.1. Market Revenue and Forecast (2021-2032)
8.1.2. Head-Mounted Display (HMD)
8.1.2.1. Market Revenue and Forecast (2021-2032)
8.1.3. Gesture Tracking Devices (GTD)
8.1.3.1. Market Revenue and Forecast (2021-2032)
8.1.4. Projectors & Display Walls (PDW)
8.1.4.1. Market Revenue and Forecast (2021-2032)
8.1.5. Software/Platform
8.1.5.1. Market Revenue and Forecast (2021-2032)
8.1.6. Services
8.1.6.1. Market Revenue and Forecast (2021-2032)
8.1.7. Professional
8.1.7.1. Market Revenue and Forecast (2021-2032)
8.1.8. Managed
8.1.8.1. Market Revenue and Forecast (2021-2032)
Chapter 9. Global Immersive Technology Market, By Technology
9.1. Immersive Technology Market, by Technology, 2023-2032
9.1.1. Mixed Reality (MR)
9.1.1.1. Market Revenue and Forecast (2021-2032)
9.1.2. Virtual Reality (VR)
9.1.2.1. Market Revenue and Forecast (2021-2032)
9.1.3. Virtual Reality (VR)
9.1.3.1. Market Revenue and Forecast (2021-2032)
9.1.4. 360 Film
9.1.4.1. Market Revenue and Forecast (2021-2032)
Chapter 10. Global Immersive Technology Market, By Application
10.1. Immersive Technology Market, by Application, 2023-2032
10.1.1. Training & Learning
10.1.1.1. Market Revenue and Forecast (2021-2032)
10.1.2. Emergency Services
10.1.2.1. Market Revenue and Forecast (2021-2032)
10.1.3. Product Development
10.1.3.1. Market Revenue and Forecast (2021-2032)
10.1.4. Sales & Marketing
10.1.4.1. Market Revenue and Forecast (2021-2032)
Chapter 11. Global Immersive Technology Market, By Industry
11.1. Immersive Technology Market, by Industry, 2023-2032
11.1.1. Healthcare
11.1.1.1. Market Revenue and Forecast (2021-2032)
11.1.2. Retail & eCommerce
11.1.2.1. Market Revenue and Forecast (2021-2032)
11.1.3. Education
11.1.3.1. Market Revenue and Forecast (2021-2032)
11.1.4. Construction
11.1.4.1. Market Revenue and Forecast (2021-2032)
11.1.5. Media & Entertainment
11.1.5.1. Market Revenue and Forecast (2021-2032)
11.1.6. Gaming
11.1.6.1. Market Revenue and Forecast (2021-2032)
11.1.7. Manufacturing
11.1.7.1. Market Revenue and Forecast (2021-2032)
11.1.8. Aerospace & Defense
11.1.8.1. Market Revenue and Forecast (2021-2032)
11.1.9. Others (Automotive, Energy, etc.)
11.1.9.1. Market Revenue and Forecast (2021-2032)
Chapter 12. Global Immersive Technology Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Component (2021-2032)
12.1.2. Market Revenue and Forecast, by Technology (2021-2032)
12.1.3. Market Revenue and Forecast, by Application (2021-2032)
12.1.4. Market Revenue and Forecast, by Industry (2021-2032)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Component (2021-2032)
12.1.5.2. Market Revenue and Forecast, by Technology (2021-2032)
12.1.5.3. Market Revenue and Forecast, by Application (2021-2032)
12.1.5.4. Market Revenue and Forecast, by Industry (2021-2032)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Component (2021-2032)
12.1.6.2. Market Revenue and Forecast, by Technology (2021-2032)
12.1.6.3. Market Revenue and Forecast, by Application (2021-2032)
12.1.6.4. Market Revenue and Forecast, by Industry (2021-2032)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Component (2021-2032)
12.2.2. Market Revenue and Forecast, by Technology (2021-2032)
12.2.3. Market Revenue and Forecast, by Application (2021-2032)
12.2.4. Market Revenue and Forecast, by Industry (2021-2032)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Component (2021-2032)
12.2.5.2. Market Revenue and Forecast, by Technology (2021-2032)
12.2.5.3. Market Revenue and Forecast, by Application (2021-2032)
12.2.5.4. Market Revenue and Forecast, by Industry (2021-2032)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Component (2021-2032)
12.2.6.2. Market Revenue and Forecast, by Technology (2021-2032)
12.2.6.3. Market Revenue and Forecast, by Application (2021-2032)
12.2.6.4. Market Revenue and Forecast, by Industry (2021-2032)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Component (2021-2032)
12.2.7.2. Market Revenue and Forecast, by Technology (2021-2032)
12.2.7.3. Market Revenue and Forecast, by Application (2021-2032)
12.2.7.4. Market Revenue and Forecast, by Industry (2021-2032)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Component (2021-2032)
12.2.8.2. Market Revenue and Forecast, by Technology (2021-2032)
12.2.8.3. Market Revenue and Forecast, by Application (2021-2032)
12.2.8.4. Market Revenue and Forecast, by Industry (2021-2032)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Component (2021-2032)
12.3.2. Market Revenue and Forecast, by Technology (2021-2032)
12.3.3. Market Revenue and Forecast, by Application (2021-2032)
12.3.4. Market Revenue and Forecast, by Industry (2021-2032)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Component (2021-2032)
12.3.5.2. Market Revenue and Forecast, by Technology (2021-2032)
12.3.5.3. Market Revenue and Forecast, by Application (2021-2032)
12.3.5.4. Market Revenue and Forecast, by Industry (2021-2032)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Component (2021-2032)
12.3.6.2. Market Revenue and Forecast, by Technology (2021-2032)
12.3.6.3. Market Revenue and Forecast, by Application (2021-2032)
12.3.6.4. Market Revenue and Forecast, by Industry (2021-2032)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Component (2021-2032)
12.3.7.2. Market Revenue and Forecast, by Technology (2021-2032)
12.3.7.3. Market Revenue and Forecast, by Application (2021-2032)
12.3.7.4. Market Revenue and Forecast, by Industry (2021-2032)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Component (2021-2032)
12.3.8.2. Market Revenue and Forecast, by Technology (2021-2032)
12.3.8.3. Market Revenue and Forecast, by Application (2021-2032)
12.3.8.4. Market Revenue and Forecast, by Industry (2021-2032)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Component (2021-2032)
12.4.2. Market Revenue and Forecast, by Technology (2021-2032)
12.4.3. Market Revenue and Forecast, by Application (2021-2032)
12.4.4. Market Revenue and Forecast, by Industry (2021-2032)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Component (2021-2032)
12.4.5.2. Market Revenue and Forecast, by Technology (2021-2032)
12.4.5.3. Market Revenue and Forecast, by Application (2021-2032)
12.4.5.4. Market Revenue and Forecast, by Industry (2021-2032)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Component (2021-2032)
12.4.6.2. Market Revenue and Forecast, by Technology (2021-2032)
12.4.6.3. Market Revenue and Forecast, by Application (2021-2032)
12.4.6.4. Market Revenue and Forecast, by Industry (2021-2032)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Component (2021-2032)
12.4.7.2. Market Revenue and Forecast, by Technology (2021-2032)
12.4.7.3. Market Revenue and Forecast, by Application (2021-2032)
12.4.7.4. Market Revenue and Forecast, by Industry (2021-2032)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Component (2021-2032)
12.4.8.2. Market Revenue and Forecast, by Technology (2021-2032)
12.4.8.3. Market Revenue and Forecast, by Application (2021-2032)
12.4.8.4. Market Revenue and Forecast, by Industry (2021-2032)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Component (2021-2032)
12.5.2. Market Revenue and Forecast, by Technology (2021-2032)
12.5.3. Market Revenue and Forecast, by Application (2021-2032)
12.5.4. Market Revenue and Forecast, by Industry (2021-2032)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Component (2021-2032)
12.5.5.2. Market Revenue and Forecast, by Technology (2021-2032)
12.5.5.3. Market Revenue and Forecast, by Application (2021-2032)
12.5.5.4. Market Revenue and Forecast, by Industry (2021-2032)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Component (2021-2032)
12.5.6.2. Market Revenue and Forecast, by Technology (2021-2032)
12.5.6.3. Market Revenue and Forecast, by Application (2021-2032)
12.5.6.4. Market Revenue and Forecast, by Industry (2021-2032)
Chapter 13. Company Profiles
13.1. Acer Inc.
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Atheer, Inc.
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. AVEVA Group PLC
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Barco NV
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Blippar Ltd.
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Carl Zeiss AG
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. CM Labs Simulations Inc.
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. EON Reality, Inc.
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. FAAC Incorporated
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Google, LLC
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client