Immersive Media Industry Data Book Covers Augmented Reality, Metaverse and Virtual Reality Markets.
The global immersive media industry size was estimated at USD 86.02 Billion in 2021. The market is expected to expand at a CAGR of 36.3% CAGR (2022 - 2030).
Grand View Research’s immersive media industry data book 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.
Augmented Reality Market Insights
The global augmented reality market size was estimated at USD 25.33 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 40.9% from 2022 to 2030.
The hardware segment accounted for the largest revenue share of 59.8% in 2021 and is expected to continue dominating the market in the forecast period. The growing adoption of AR devices across various industries and industry verticals, such as education, healthcare, construction, and retail, is allowing the hardware segment to dominate the market.
The head-mounted display smart glass segment accounted for the highest revenue share of 70.7% in 2021. The segment is expected to continue dominating the augmented reality market in the forecast period as a result of the increasing demand for head-mounted displays and smart glasses in industrial enterprise applications. Advances in OLED technology and the growing use cases for AR technology in industrial enterprise applications are expected to drive mass availability of lightweight head-mounted displays, thereby driving the growth of the segment.
The industrial manufacturing segment accounted for the largest revenue share of 24.3% in 2021 and is expected to continue dominating the market in the forecast period. AR technology allows incumbents of various industries and industry verticals to discover any errors or glitches, ensure that all processes remain running, and facilitate efficient operations to keep any manufacturing-related downtime to its minimum. AR technology is also finding applications in the aerospace defense industry.
Access the Global Immersive Media Industry Data Book, 2022 to 2030, compiled with details like market sizing information forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory technological framework studies
Virtual Reality Market Insights
The global virtual reality market size was valued at USD 21.83 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.0% from 2022 to 2030.
The head-mounted display (HMD) device segment accounted for the largest revenue share of over 60.0% in 2021 and is expected to dominate the market from 2022 to 2030. The growing importance of VR headsets in commercial and consumer applications is propelling their demand in the market. The segment growth is fueled by the diversity and flexibility of HMDs, such as hybrid, tethered, and self-contained HMDs.
The semi and fully immersive segment accounted for the largest revenue share of over 80.0% in 2021. It is also estimated to register the highest CAGR over the forecast period. The segment growth can be attributed to the continuous surge in demand for VR HMDs. Semi and fully immersive technology replicate the architecture of real-world surroundings in a digital platform. It requires the use of complex simulators, high-resolution displays, and high-processing PCs.
The hardware segment accounted for the largest revenue share of over 65.0% in 2021 and is anticipated to dominate the market over the forecast period. The rapid use of smartphones, tablets, and other technologically advanced electronic gadgets is contributing to the segment growth. The hardware segment includes input devices, output devices, and consoles.
The commercial segment accounted for the largest revenue share of over 50.0% in 2021 and is anticipated to dominate the market over the forecast period. The increasing use of VR headsets in the commercial sector, including real estate, vehicle showrooms, and retail stores, provides new growth potential to VR companies. The rising adoption of smartphones has resulted in the widespread use of VR technologies in the commercial sector.
Metaverse Market Insights
The global metaverse market size was estimated at USD 65.51 billion in 2022. It is expected to expand at a compound annual growth rate (CAGR) of 41.6% from 2023 to 2030.
Metaverse is one of the trending technology platforms attracting various social networks and technology leaders, and online game makers to enter and establish its presence within the market. The metaverse is a fast-growing trend with a considerable penetration rate of users for various applications such as gaming, content creation, social interaction, learning and training, and online virtual shopping.
The hardware segment accounted for USD 14.92 billion in 2022 and is expected to expand at a CAGR of over 39.0% during the forecast period. Due to a growing focus among firms on producing products that provide a better user experience and enable more extended user immersion, the hardware segment is expected to account for the largest revenue share during the projected period.
Based on platform, the desktop segment accounted for the largest revenue share of 42.14% in 2022. Computers used to be the primary portal into the metaverse, but with the introduction of smartphones and wireless networks, that has changed.
Augmented reality (AR) and virtual reality (VR) technology contributed to the largest revenue share of 35.2% in 2022. Due to the increased use of MR to engage more proficiently in the metaverse, the Mixed Reality (MR) segment is predicted to contribute the highest CAGR of 42.6% in the technology segment during the forecast period.
The gaming segment held the leading revenue share of 27.0% in 2022, due to significant ongoing innovations and developments by developers, as well as a growing focus on boosting immersion and making games more realistic. Furthermore, organizations' increasing emphasis on utilizing games to promote their corporate image is likely to boost revenue growth.
Based on end-use, the BFSI industry is estimated to account for leading revenue of 24.4% in 2022. However, the media and entertainment industry is expected to expand with a CAGR of 43.5% over the forecast period owing to the rising gaming industry globally. Businesses are increasingly focusing on organizing virtual music concerts, and the adoption of this concept by a growing number of businesses is likely to boost this segment's revenue growth.
Immersive Media Market – Global Industry Segmentation
Augmented Reality Industry, By Component
- Hardware
- Software
Augmented Reality Industry, By Display
- HMD Smart Glass
- HUD
- Handheld devices
Augmented Reality Industry, By Application
- Aerospace Defense
- Automotive
- Education
- E-Commerce Retail
- Gaming Entertainment
- Healthcare
- Industrial Manufacturing
- Others
Virtual Reality Industry, By Device
- Head-Mounted Display (HMD)
- Gesture-Tracking Device (GTD)
- Projectors Display Wall (PDW)
Virtual Reality Industry, By Technology
- Semi Fully Immersive
- Non-Immersive
Virtual Reality Industry, By Component
- Hardware
- Software
Virtual Reality Industry, By Application
- Aerospace Defense
- Consumer
- Commercial
- Enterprise
- Healthcare
- Others
Metaverse Industry, By Device
- Hardware
- Software
- Services
Metaverse Industry, By Platform
- Desktop
- Mobile
- Headsets
Metaverse Industry, By Technology
- Blockchain
- Virtual Reality (VR) Augmented Reality (AR)
- Mixed Reality (MR)
- Others
Metaverse Industry, By Application
- Gaming
- Online Shopping
- Content Creation Social Media
- Events Conference
- Digital Marketing (Advertising)
- Testing and Inspection
- Others
Metaverse Industry, By End-use
- BFSI
- Retail
- Media Entertainment
- Education
- Aerospace and Defense
- Automotive
- Others
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Immersive Media Industry Data Book Regional Outlook
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East Africa (MEA)
Immersive Media Industry Data Book Competitive Landscape
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
Go through the table of content of Immersive Media Industry Data Book to get a better understanding of the Coverage Scope of the study
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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