Dublin, June 16, 2023 (GLOBE NEWSWIRE) -- The "Immersive Analytics Market by Offering (Hardware, Solutions, Services), End-use Industry (Healthcare, Construction, Automotive & Transportation, Media & Entertainment), Application, and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
This report forecasts the immersive analytics market size is projected to grow from USD 0.8 billion in 2023 to USD 6.7 billion by 2028, at a CAGR of 51.7%
The rising demand for analyzing and understanding heterogeneous data with data visualization tools will drive the growth of the immersive analytics market. Analyzing heterogeneous data can also offer advantages as it can provide a more comprehensive understanding of a complex system or issue, leading to better decision-making and insights.
By Hardware, the Sensors & Controllers segment is expected to grow with the highest CAGR during the forecast period
Sensors and controllers play vital roles in enhancing immersive analytics. Sensors gather information about the user's surroundings and physical state, while controllers enable users to interact with the immersive environment. The collected data and interaction can be leveraged to enhance the user's experience and create more engaging and informative analytics.
Positional tracking sensors track the user's movements and position, while handheld controllers enable users to manipulate and select virtual objects. Gesture recognition technology interprets hand gestures and body movements, while eye tracking monitors the user's gaze. Voice recognition allows for interaction through voice commands.
By service, the managed services segment is expected to grow with the highest CAGR during the forecast period
Managed services are important as they are specifically related to client experiences. A technological domain requires well-delivered managed services. The services offered must fit perfectly into the client's environment.
Technical expertise, service consistency, and flexibility must be provided by vendors regardless of the client's location. Managed service providers offer technical expertise, consistency, and flexibility, regardless of the client's location. They deal with all the pre-and post-deployment questions and needs of clients.
Asia Pacific is expected to have the largest market share during the forecast period
Companies operating in this region will benefit from flexible economic conditions, the industrialization-and globalization-motivated policies of governments, and the expanding digitalization and technological adoption, all of which are expected to have a huge impact on the business community in the region.
The growth of the immersive analytics market is anticipated to be fueled by the surge in urbanization in the region. Asia Pacific has a significant technology adoption rate and is expected to record the highest growth rate in the immersive analytics market over the next few years.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 199 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $0.8 Billion |
| Forecasted Market Value (USD) by 2028 | $6.7 Billion |
| Compound Annual Growth Rate | 51.7% |
| Regions Covered | Global |
Premium Insights
- Increasing Use of Digitalized Platforms to Drive Market Growth
- Professional Services Segment to Account for Larger Market Size
- Professional Services Segment to Account for Larger Market Size
- Professional Services Segment to Account for Larger Market Size
- Asia-Pacific to Witness Highest Growth During Forecast Period
Market Overview and Industry Trends
Market Dynamics
Drivers
- Advancements in Immersive Technology and Increasing Digitalization
- Large Amount and Complexity of Data Available for Analysis to Increase Demand
- Rising Demand to Analyze and Understand Heterogeneous Data with Data Visualization Tools
- Growing Adoption of Head-Mounted Displays for 3D Data Visualization
Restraints
- High Cost to Deploy Infrastructure Required for Immersive Analytics
Opportunities
- Immersive Analytics to Generate New Revenue Streams for Businesses
- Increasing Demand for IoT to Create Huge Potential for Immersive Analytics
- Adoption of Immersive Analytics to Enable Firms to Provide More Personalized Customer Experience
Challenges
- Complex Data Ecosystem to Lead to Data Breaches and Security Issues
- Lack of Analytical Knowledge in Workforce
Major Players
- IBM
- Microsoft
- Htc
- Meta
- Tibco
- Hewlett Packard Enterprise(Hpe)
- Magic Leap
- Sap
- Accenture
- Tableau
- Reply
Smes/Start-Ups
- Kognitiv Spark
- Aventior
- Immersion Analytics
- Badvr
- Virtualitics
- Softcare Studios
- Juju Immersive Limited
- Arsome Technology
- Varjo
- Cognitive3D
- Senseglove
- Dpvr
- Pico
History of Immersive Analytics
- Ecosystem Analysis
- Value Chain Analysis
- Pricing Analysis
- Average Selling Price of Key Players, by Offering
- Average Selling Price Trend
Technology Analysis
- Related Technologies
- Virtual Reality
- Augmented Reality
- Mixed Reality
- Haptic Technology
- Machine Learning and Artificial Intelligence
- 3D Modeling and Animation
- Impact of Immersive Analytics on Adjacent Technologies
Industry Use Cases
- Use Case 1: Toyota Collaborated with Microsoft to Create Immersive and Engaging Working Experience
- Use Case 2: Audi to Provide New Driving Experience to Passengers with Immersive Tools
- Use Case 4: Remotespark to Help Workers to Resolve Repair and Maintenance Issues Remotely
- Use Case 6: Cannon Design Selected Vive and Nvidia to Enable Remote Meetings with Collaborative Multi-User Support
Patent Analysis
- Document of Patents
- Innovation and Patent Applications
Regulatory Landscape
- Iso/Tc 184/Sc 4
- Iso/ Tc 184
- General Personal Data Protection Law (Gpdp)
- Australian Digital Currency Commerce Association (Adcca)
- Digital Signature Act
- GDPr
- Financial Services Modernization Act
- Sox Act
- Payment Card Industry-Data Security Standard
- Health Insurance Portability and Accountability Act
- Federal Information Security Management Act
Future Directions of Market Landscape
- Immersive Technology Roadmap Till 2030
- Short-Term Roadmap (2023-2025)
- Mid-Term Roadmap (2026-2028)
- Long-Term Roadmap (2029-2030)
For more information about this report visit https://www.researchandmarkets.com/r/nsy3y3
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