Immersive Media Industry Analysis and Trends Report | Global Data Book To 2030

Global immersive media industry data book covers augmented reality, metaverse and virtual reality market, whichj is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

The global Immersive Media market size was valued at USD 86.02 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 36.3% from 2022 to 2030.

Augmented Reality Market Analysis & Forecast

The global augmented reality market size was valued at USD 25.33 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 40.9% from 2022 to 2030. The surge of interest among leading market players such as Google LLC, Microsoft Corporation, Apple, Inc., and others in employing augmented reality (AR) in numerous applications is creating new opportunities. Additionally, the market in media and entertainment is increasing, such as with the rising use of AR in the gaming sector to give participants a view with highly effective video, graphics, and sound, which is anticipated to be a major growth factor.

Augmented reality provides interactive experiences through various sensory modalities, such as somatosensory, visual, auditory, haptic, and others. This technology has numerous applications in education, training, and entertainment. Furthermore, it is increasingly being used in industries such as logistics, healthcare, and manufacturing for monitoring, assistance, maintenance, and training.

North America accounted for the largest revenue share of nearly 35.0% in 2022 and is estimated to record a significant growth rate during the forecast period as the region is home to several leading technology companies, such as Google LLC, and Microsoft, among others. Asia Pacific is expected to record a CAGR of above 40.0% from 2023 to 2030 with increasing usage of internet-based platforms across various regional countries, including Japan and Australia. Asia Market is estimated to proliferate during the forecast period. The burgeoning logistics, manufacturing, gaming, and automotive industries are expected to fuel regional market growth.

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Metaverse Market Analysis & Forecast

The global metaverse market size was estimated at USD 38.85 billion in 2021. It is expected to grow at a compound annual growth rate (CAGR) of 39.4% from 2022 to 2030. Major factors expected to drive the revenue growth include a growing focus on integrating digital and physical worlds using the Internet, increasing momentum and popularity of Mixed Reality (MR), Augmented Reality (AR), and Virtual Reality (VR), and the outbreak of COVID-19, as well as the situation’s subsequent developments and outcomes.

The metaverse is a term used to describe a highly immersive 3D virtual world experience obtained through the use of a mixture of technologies such as AR, VR, and MR. The metaverse platform elevates the internet experience by establishing a virtual world in which users can engage in immersive gaming, conduct business, socialize, buy and sell virtual real estate, and enjoy immersive entertainment, among other things.

North America is likely to account for the largest revenue share of 44.6% in 2022 owing to the customers and users in the region that are adopting the new and more complex technology. The Asia Pacific region is expected to register a very strong CAGR over the forecast period. The virtual metaverse marketplaces and gaming platforms offer an immersive experience where users can participate in live and concurrent activities powered by their chosen third-party apps.

Virtual Reality Market Analysis & Forecast

The global virtual reality (VR) market size was estimated at USD 21.83 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 15.0% from 2022 to 2030. Virtual reality enables users to experience a three-dimensional environment in the real world. This immersive experience for consumers is created by VR technology through gadgets, such as VR headsets, glasses or gloves, and bodysuits. VR technology has also transformed the gaming and entertainment sectors by enabling users to engage themselves in a highly simulated environment.

Furthermore, the increasing use of virtual reality (VR) in instructional training, such as for field workers, engineers, mechanics, pilots, defense personnel, and technicians in various industrial sectors, is propelling the market’s growth.

However, the increasing need for businesses to continue their business activities online resulted in an increased demand for VR. Companies moved to virtual platforms to continue their business activities, such as holding meetings and developing policies & strategies. Event organizers provided visitors with engaging and diverse experiences by holding the event on a virtual platform and offering it as a VR experience. As a result, the growing prominence of virtual events is driving market growth. The increasing use of VR applications in the architecture and planning sector is another factor expected to drive market growth. The use of virtual reality (VR) technology in architecture aids in decision-making and visualizing the effects of suggested urban designs and architectural plans.

Asia Pacific accounted for the largest revenue share of over 39% in 2022. The regional market growth can be attributed to countries, such as China, that are major producers and suppliers of VR-related hardware. Europe is estimated to emerge as the fastest-growing regional market with a CAGR of over 29.3% during the forecast period. This is due to the widespread deployment of VR technology in a variety of applications across several industry sectors, particularly in the gaming and automobile industries.

Go through the table of content of Immersive Media Industry Data Book to get a better understanding of the Coverage & Scope of the study.

Immersive Media Industry Data Book Competitive Landscape

The key market players in the Immersive Media industry bear expertise in the Immersive Media industry and have a strategic presence across the globe. This, in turn, has enabled these companies to successfully defend their position in the market. Several market players operating in the immersive media industry have launched several new products in recent years. For instance, in DecUnity Technologies introduced Meta Audience Network for in-app bidding access in Unity Mediation, a part of Unity Ads.

Key players operating in the immersive media industry are –

• Meta Platforms, Inc. • Tencent Holdings Ltd. • NetEase, Inc. • Nvidia Corporation • Unity Technologies, Inc. • Microsoft Corporation • Samsung • HTC Corporation • Alphabet Inc. • Qualcomm Inc. • Vuzix