Fort Collins, Colorado, Jan. 03, 2024 (GLOBE NEWSWIRE) -- The Immersive Technologies Market size was valued at USD 32.4 Billion in 2022 and is expected to reach a market size of USD 306.5 Billion by 2032 at a CAGR of 25.3%.
VR creates an artificial environment using head-mounted displays and gesture-tracking devices. AR adds digital content to the real world, improving our perception. MR blends VR and AR, integrating digital objects into the physical world for interactive experiences. These technologies have revolutionized various industries, changing how we interact with the world.
Immersive technologies have various applications, such as virtual training simulations in healthcare and interactive shopping experiences in retail and eCommerce, resulting in market growth. Additionally, immersive technologies have transformed academics by engaging learning and providing interactive experiences that enhance knowledge retention.
The market trends show a shift towards accessible and user-friendly immersive solutions, catering to diverse industry needs and enhancing the user experience. Immersive technologies are growing due to technological advancements that have made them more accessible and affordable. Integrating VR, AR, and MR into various industries and applications has been seamless and ascribable to high-quality displays, powerful processors, and intuitive user interfaces.
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Segmentation Overview:
The global immersive technologies market has been segmented into components, applications, end-user, and regions. Immersive technologies like HMDs provide users with a fully immersive visual and auditory environment to transport them into virtual realms. In retail and e-commerce, VR and AR solutions are utilized for interactive product visualization and immersive shopping environments. IKEA, L'Oreal, and Sephora have launched AR and VR apps to enhance customer experiences.
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Immersive Technologies Market Report Highlights:
- The global immersive technologies market growth is anticipated at a CAGR of 25.3% by 2032.
- Immersive technologies like VR, AR, and MR have revolutionized various industries, providing interactive experiences that enhance user engagement and knowledge retention. These technologies are becoming more accessible and user-friendly, generating market growth across different sectors.
- North America has been the center of innovation in immersive technology, with the United States being a major hub for industry growth. Disney, Warner Bros., Mayo Clinic, and Cedars-Sinai Medical Center have explored AR and VR for immersive storytelling, gaming experiences, medical training, and patient care.
- Some prominent players in the immersive technologies market report include EON Reality, HCL Technologies, Samsung Group, Zeality, Lockheed Martin, Atheer, Unity Software, FAAC Incorporated, VI-Grade, CM Labs Simulation, Varjo Technologies, and others.
Industry Trends and Insights:
- EON Reality launched the EON XR App Creator for content creation in the education, enterprise, and consumer sectors.
- Samsung Levant and King Hussein Business Park signed a MoU for cooperation enhancement.
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Immersive Technologies Market Segmentation:
By Product Type: Virtual Reality (VR), Augmented Reality (AR), Mixed Reality (MR)
By Component: Hardware (Head-Mounted Display (HMD), Gesture Tracking Devices (GTD), Projectors & Display Walls (PDW)), Software/Platform, Services (Professional and Managed)
By Application: Training & Learning, Emergency Services, Product Development, and Sales & Marketing
By End-use: Healthcare, Education, Retail and eCommerce, Gaming, Construction, Others
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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