Immersive Media Industry Is Expected To Expand At A CAGR Of 20.80% From 2022 To 2030

Posted by rahul nikade on February 16th, 2023

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).

Augmented Reality Market Report Highlights

The global augmented reality market size was estimated at USD 25.33 billion in 2021, and it is anticipated to reach USD 597.54 billion by 2030, expanding at a CAGR of 40.9% from 2022 to 2030.

• The outbreak has prompted incumbents of several industries and industry verticals to implement innovative AR-based solutions
• Mobile AR is poised for exponential growth as all the new mobile devices being introduced in the market are featuring built-in AR support
• The industrial and manufacturing segment accounted for the highest revenue share of 24.3% in 2021
• The handheld devices segment is expected to grow at the highest CAGR of 42.4% from 2022 to 2030.
• Asia Pacific is expected to register the fastest growth in the forecast period.

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 Report Highlights

The global virtual reality market size was valued at USD 21.83 billion in 2021, and it is expected to reach USD 87.0 billion by 2030. The market is expected to expand at a CAGR of 15.0% from 2022 to 2030.

• The market is expected to be driven by advances in smartphone hardware and cutting-edge virtual reality-compatible headsets during the forecast period
• The HMD device segment accounted for the largest revenue share of over 60.0% in 2021
• The semi and fully immersive technology segment accounted for the largest revenue share in 2021, which is expected to further increase throughout the forecast period. This can be attributed to the ability of the technology to bring a real-like dimension to a simulated domain
• Asia Pacific accounted for the largest revenue share of over 40.0% in 2021 and is anticipated to dominate the market during the forecast period

Metaverse Market Report Highlights

The global metaverse market size was estimated at USD 38.85 billion in 2021, and it is predicted to attain USD 678.8 billion by 2030. The market is expected to witness a CAGR of 39.4% over the forecast period.

• The hardware sub-segment in the product segment dominated the global metaverse market in 2021 and accounted for the largest market share, owing to the increased adoption of AR, VR, and MR devices
• Displays captured the highest revenue share in the hardware sub-segment in 2021 whereas, programming engines dominated the software sub-segment with the largest market share
• Desktop and headsets dominated the market with 42.2% and 34.9% of the total revenue shares in 2021, respectively, and are projected to remain the highest revenue-generating segments during the forecast period
• The VR and AR technology sector held the largest revenue share in 2021 as multiple industries such as gaming, healthcare, education, and entertainment have increasingly incorporated VR and AR technology for numerous purposes. Human resource domains are also incorporating the use of VR and AR devices for employee training
• In terms of offerings, the virtual platform segment accounted for the largest market share in 2021 and is anticipated to exhibit significant growth, owing to the increased adoption of these platforms for multiple uses such as adverting, branding, and academics. Many key players have also realized that virtual platforms help reduce capital expenditures and operating expenses
• The gaming segment is projected to dominate the application segment. The content and social media segment is anticipated to witness considerable growth over the forecast period owing to the increased demand for social media applications
• The North American region accounted for the largest market share in 2021, owing to the high adoption of metaverse platforms
• The Asia Pacific region is likely to witness a robust growth rate over the forecast period, owing to factors such as demand for a better viewing experience, an increasing number of start-ups like OneRare, LOKA, and Bolly Heroes

Order your copy of the Free Sample of “Immersive Media Industry Data Book - Augmented Reality, Metaverse and Virtual Reality Market Size, Share, Trends Analysis, And Segment Forecasts, 2022 - 2030” Data Book, published by Grand View Research

Competitive Landscape

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

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.

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.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: Micro Markets

Follow Us: LinkedIn | Twitter