Dublin, Sept. 12, 2024 (GLOBE NEWSWIRE) -- The "Europe Immersive Technology Market Size, Share & Trends Analysis Report by Component (Hardware, Software/Platform, Services), Technology, Application, Industry, Country, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Europe immersive technology market size is anticipated to reach USD 40.97 billion by 2030 and is projected to grow at a CAGR of 28.2% from 2024 to 2030
Multiple industries in Europe, such as automotive, healthcare, education, entertainment, real estate, retail, and manufacturing, are increasingly adopting immersive technologies for training simulations, product design, and virtual prototyping for marketing campaigns, customer engagement, and virtual events.
Immersive technologies play a key role in the digital transformation strategies of businesses across Europe. Companies prioritize digitalization, innovation, and customer experience enhancement by integrating immersive solutions into their workflows, products, and services. Immersive technologies enable businesses to differentiate themselves, engage audiences, and stay ahead in rapidly evolving markets.
Europe Immersive Technology Market Report Highlights
- Based on components, the hardware segment led the market with the largest revenue share of 48.5% in 2023. Increased interest in immersive experiences across gaming, education, healthcare, military and defense, manufacturing, and other industries is driving the sales of advanced immersive technology hardware products.
- Based on technology, the VR segment led the market with the largest revenue share of 46.1% in 2023. The demand for VR is driven by the increasing adoption of VR technology in diverse sectors, including media & entertainment, healthcare, automotive, architecture, and education
- Based on applications, the training & learning segment led the market with the largest revenue share of 40.0% in 2023 and is expected to maintain its dominance throughout the forecast period. The demand for effective corporate training solutions is driving the demand for training and learning applications
- Based on industry, the healthcare segment is expected to grow at the fastest CAGR during the forecast period. Regulatory support and government initiatives are fostering the adoption of immersive technology solutions in healthcare across Europe. Regulatory bodies such as the European Medicines Agency (EMA) and national health authorities are increasingly recognizing the potential benefits of immersive technologies in improving healthcare delivery and patient outcomes
- The UK accounted the market for the largest revenue share of 29.2% in 2023, due to strong adoption and investment in AR and VR technology. The UK's focus on digital transformation across industries drives the adoption of immersive technologies
- In May 2023, Magic Leap announced USD 500 million in funding to develop its upcoming AR glasses. This significant financial investment is expected to drive Magic Leap's advancements in augmented reality technology. It is anticipated that it will enable the company to innovate and enhance its AR glasses to meet evolving market demands and push the boundaries of immersive experiences for its worldwide users
Companies Featured
- Ariyln
- Holo-Light GmbH
- Immersive factory
- INITION
- Magic Leap, Inc.
- Mindesk Inc.
- Realcast
- Ubisoft Entertainment
- Unity Technologies
- Varjo
- Virtuix
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Europe Immersive Technology Market Variables, Trends & Scope
3.1. Market Introduction/Lineage Outlook
3.2. Market Size and Growth Prospects (USD Million)
3.3. Industry Value Chain Analysis
3.4. Market Dynamics
3.4.1. Market Drivers Analysis
3.4.1.1. Increasing Demand for Virtual and Augmented Reality Applications Across Various Industries
3.4.1.2. Technological Advancements and Decreasing Costs of Immersive Hardware
3.4.1.3. Growing Interest in Immersive Experiences and Storytelling
3.4.2. Market Restraints Analysis
3.4.2.1. High Initial Costs and Infrastructure Requirements
3.4.3. Industry Opportunities
3.4.4. Industry Challenges
3.5. Europe Immersive Technology Market Analysis Tools
3.5.1. Porter's Analysis
3.5.2. PESTEL Analysis
3.5.3. Legal Landscape
Chapter 4. Europe Immersive Technology Market: Component Estimates & Trend Analysis
4.1. Component Movement Analysis & Market Share, 2023 & 2030
4.2. Europe Immersive Technology Market Estimates & Forecast, by Component, 2018 to 2030 (USD Million)
4.3. Hardware
4.3.1. Hardware Market Estimates and Forecasts, 2018-2030 (USD Million)
4.3.2. HMD
4.3.3. GTD
4.3.4. PDW
4.4. Software/Platform
4.5. Services
4.6. Professional Services
4.7. Managed Services
Chapter 5. Europe Immersive Technology Market: Technology Estimates & Trend Analysis
5.1. Technology Movement Analysis & Market Share, 2023 & 2030
5.2. Europe Immersive Technology Market Estimates & Forecast, by Technology, 2018 to 2030 (USD Million)
5.3. Virtual Reality (VR)
5.4. Augmented Reality (AR)
5.5. Mixed Reality (MR)
5.6. Others
Chapter 6. Europe Immersive Technology Market: Application Estimates & Trend Analysis
6.1. Application Movement Analysis & Market Share, 2023 & 2030
6.2. Europe Immersive Technology Market Estimates & Forecast, by Application, 2018 to 2030 (USD Million)
6.3. Training & Learning
6.4. Emergency Services
6.5. Product Development
6.6. Sales & Marketing
6.7. Others
Chapter 7. Europe Immersive Technology Market: Industry Estimates & Trend Analysis
7.1. Industry Movement Analysis & Market Share, 2023 & 2030
7.2. Europe Immersive Technology Market Estimates & Forecast, by Industry, 2018 to 2030 (USD Million)
7.3. Aerospace & Defense
7.4. Manufacturing
7.5. Automotive
7.6. Education
7.7. Media & Entertainment
7.8. Gaming
7.9. Healthcare
7.10. Retail & E-commerce
7.11. Others
Chapter 8. Europe Immersive Technology Market: Regional Estimates & Trend Analysis
8.1. Europe Immersive Technology Market Share, by Region, 2023 & 2030 (USD Million)
8.2. Europe
8.2.1. Europe Immersive Technology Market Estimates and Forecasts, 2018-2030 (USD Million)
8.2.2. Germany
8.2.3. UK
8.2.4. France
8.2.5. Italy
8.2.6. Spain
Chapter 9. Europe Immersive Technology Market- Competitive Landscape
9.1. Recent Developments & Impact Analysis by Key Market Participants
9.2. Company Categorization
9.3. Company Market Positioning
9.4. Company Heat Map Analysis
9.5. Strategy Mapping
9.5.1. Expansion
9.5.2. Mergers & Acquisition
9.5.3. Partnerships & Collaborations
9.5.4. New Product Launches
9.5.5. Research and Development
9.6. Company Profiles
9.6.1. Participant's Overview
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Recent Developments
For more information about this report visit https://www.researchandmarkets.com/r/cnnubn
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