One Stop Shop For Reports One Stop Shop For Reports
  • All Reports
  • All Sectors
    • Chemicals & Materials
      • Advanced Materials
      • Bulk Chemicals
      • Coatings | Paints and Additives
      • Composites
      • Renewable | Speciality chemicals
    • Consumer Goods
      • Baby Products
      • Consumer Electronics
      • Consumer Packaging
      • Cosmetics & Personal Care
      • Homecare & Decor
      • Luxury & premium products
    • Energy and Power
      • Energy Efficiency and Conservation
      • Green | Renewable Energy
      • Non Renewable | Conventional Energy
      • Power Equipment and Devices
    • Life Science
      • Biotechnology
      • Diagnostics
      • Healthcare
      • Healthcare IT
      • Medical Devices & Supplies
      • Pharmaceuticals
    • Food and Beverage
      • Agriculture & Agri Products
      • Beverages
      • Food Ingredients
      • Food Services and Hospitality
      • Nutraceutical | Wellness Food
      • Processed & Frozen Foods
    • Automotive and Transportation
      • Automotive components
      • Automotive Logistics
      • Automotive systems and accessories
    • Information and Communications Technology
      • E Commerce and Outsourcing
      • Entertainment & Media
      • High Tech | Enterprise & Consumer IT
      • Information & Network Security
      • Mobility | Telecom & Wireless
      • Software and Services
    • Semiconductor and Electronics
      • Semiconductor Materials and Components
      • Display Technology
      • Electronics System and Components
      • Emerging technologies
      • Security and Surveillance
      • Sensors and Controls
    • Building and Construction
      • Construction Materials
      • HVAC
      • Residential Construction and Improvement
      • Roads & Highways
    • Manufacturing
      • Manufacturing Services
      • Heavy Manufacturing
      • Packaging
      • Engineering | Equipment and Machinery
  • Who Trust Us
  • [email protected]
  • +1 718 874 1545 (International)
  • +91 78878 22626 (Asia)

More Results

One Stop Shop For Reports One Stop Shop For Reports
  • All Reports
  • All Sectors
    • Chemicals & Materials
      • Advanced Materials
      • Bulk Chemicals
      • Coatings | Paints and Additives
      • Composites
      • Renewable | Speciality chemicals
    • Consumer Goods
      • Baby Products
      • Consumer Electronics
      • Consumer Packaging
      • Cosmetics & Personal Care
      • Homecare & Decor
      • Luxury & premium products
    • Energy and Power
      • Energy Efficiency and Conservation
      • Green | Renewable Energy
      • Non Renewable | Conventional Energy
      • Power Equipment and Devices
    • Life Science
      • Biotechnology
      • Diagnostics
      • Healthcare
      • Healthcare IT
      • Medical Devices & Supplies
      • Pharmaceuticals
    • Food and Beverage
      • Agriculture & Agri Products
      • Beverages
      • Food Ingredients
      • Food Services and Hospitality
      • Nutraceutical | Wellness Food
      • Processed & Frozen Foods
    • Automotive and Transportation
      • Automotive components
      • Automotive Logistics
      • Automotive systems and accessories
    • Information and Communications Technology
      • E Commerce and Outsourcing
      • Entertainment & Media
      • High Tech | Enterprise & Consumer IT
      • Information & Network Security
      • Mobility | Telecom & Wireless
      • Software and Services
    • Semiconductor and Electronics
      • Semiconductor Materials and Components
      • Display Technology
      • Electronics System and Components
      • Emerging technologies
      • Security and Surveillance
      • Sensors and Controls
    • Building and Construction
      • Construction Materials
      • HVAC
      • Residential Construction and Improvement
      • Roads & Highways
    • Manufacturing
      • Manufacturing Services
      • Heavy Manufacturing
      • Packaging
      • Engineering | Equipment and Machinery
  • Who Trust Us
Home ➤ Information and Communications Technology ➤ Immersive Media Market
Immersive Media Market
Immersive Media Market
Published date: March 2024 • Formats:
Request Sample Schedule a Call
  • Home ➤ Information and Communications Technology ➤ Immersive Media Market

Global Immersive Media Market By Component (Hardware, Software, and Services), By Technology (Virtual Reality, Augmented Reality, Mixed Reality, and Other Technologies), By Application, By End-Use Industry, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

  • Published date: March 2024
  • Report ID: 105752
  • Number of Pages: 396
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
  • Request a Free Sample
  • Quick Navigation

    • Report Overview
    • Key Takeaways
    • Driving Factor
    • Restraining Factor
    • Growth Opportunity
    • Latest Trends
    • By Component Analysis
    • By Technology Analysis
    • Application Analysis
    • By End-Use Industry Analysis
    • Key Market Segments
    • Regional Analysis
    • Key Player Analysis
    • Recent Developments
    • Report Scope

    Report Overview

    The Global Immersive Media Market Size accounted for USD 30.7 Billion in 2023 and is estimated to garner a market size of USD 178.7 Billion by 2032 rising at a CAGR of 22.3% from 2023 to 2032.

    Immersive media refers to technologies and experiences that create a sense of immersion and presence, allowing users to feel fully engaged in a virtual or augmented environment. It encompasses various forms of digital content, such as virtual reality (VR), augmented reality (AR), and mixed reality (MR), to provide interactive and realistic experiences.

    The immersive media market has experienced significant growth in recent years and is expected to continue expanding. The increasing availability of affordable VR and AR devices, advancements in technology, and the growing demand for immersive experiences across industries are driving this market growth.

    Immersive Media Market

    Note: Actual Numbers Might Vary In The Final Report

    The immersive media market is driven by the growing demand for more engaging and interactive experiences across industries. Advancements in technology, including hardware, software, and content creation tools, have expanded the possibilities and accessibility of immersive media. This has resulted in a wide range of applications, from immersive gaming and entertainment experiences to training simulations, virtual meetings, and virtual tourism.

    It also presents both opportunities and challenges. The increasing adoption of immersive media technologies across industries indicates significant growth potential. Businesses can leverage immersive media to enhance customer experiences, improve training and education, and create innovative marketing campaigns

    Key Takeaways

    • The Immersive Media Market is projected to grow significantly, from USD 30.7 Billion in 2023 to an estimated value of USD 178.7 Billion by 2032, exhibiting a CAGR of 22.3%.
    • 25% of organizations are projected to adopt immersive media technologies for employee training and collaboration, a significant increase from 10% in 2022.
    • 30% of organizations are expected to leverage immersive media technologies for customer engagement and experience, doubling from 15% in 2022.
    • The healthcare industry is anticipated to be a major adopter of immersive media, with a projected market share of ~17% in 2023. This growth is driven by applications in medical training, therapy, and surgical planning.
    • In 2023, the retail and e-commerce sector is forecasted to account for ~13% of the immersive media market. This is attributed to the adoption of AR and VR technologies for product visualization and virtual try-on experiences.
    • The adoption of 5G technology is predicted to significantly drive the growth of immersive media, facilitating low-latency and high-bandwidth experiences. By 2024, approximately 25% of immersive media applications are estimated to leverage 5G networks.
    • The manufacturing industry is expected to represent an 11.2% share of the immersive media market in 2023. This adoption is driven by AR and VR technologies for training, product design, and remote assistance.
    • Technological Advancements Driving Growth: The market growth is fueled by rapid advancements in virtual reality (VR), augmented reality (AR), and mixed reality (MR), enticing industries to explore the transformative potential of immersive media.
    • Application Diversification: Immersive media finds applications beyond entertainment, including education, healthcare, architecture, and remote collaboration, offering enriched experiences and tangible benefits in training, simulations, and virtual events.
    • Challenges: High costs, motion sickness, visual discomfort, and disorientation from extended exposure to immersive media remain key challenges, along with hardware price barriers and content fragmentation inhibiting widespread adoption.
    • Component Dominance: Hardware accounts for the largest share of the market (53.6%), with advanced processors, GPUs, and display technologies playing a crucial role in delivering intricate sensory experiences.
    • Technology Focus: Virtual reality technology holds the majority of the market share (46.4%) due to its ability to provide unparalleled immersion in simulated worlds, benefiting various sectors from gaming and entertainment to healthcare and the military.
    • Leading Application Segments: Training and learning lead the application segment (38.4%), owing to their ability to enhance training efficacy, simulate realistic environments, and cater to diverse learning needs, fostering skill development across various domains.
    • Regional Analysis: North America leads the market, followed by the Asia Pacific region, with North America’s growth driven by developed technological infrastructure and high demand for real-time and virtual world experiences.
    • Key Players: Major contributors include industry giants like Apple Inc., Sony, Microsoft, and Google, alongside companies such as Honeywell International Inc., HTC Corporation, Qualcomm Incorporated, NVIDIA Corporation, and others, who continue to drive market expansion through innovation.

    Driving Factor

    Technological Advancements

    Technological advancements in virtual reality (VR), augmented reality (AR), and mixed reality (MR) have unraveled new possibilities, igniting a race to develop captivating experiences. Increasing consumer demand for richer engagement, entertainment, and seamless communication propels the market’s growth, enticing industry players to craft content and innovative hardware solutions. Moreover, various sectors, such as education, healthcare, and entertainment, recognize this media’s transformative potential. Educational institutions are adopting advanced tech for interactive learning. Medical professionals leverage it for simulations and diagnostics, while corporations employ it for remote collaboration.

    Restraining Factor

    High Cost

    Extended exposure to this media, particularly in virtual reality, can induce motion sickness, visual discomfort, and disorientation. These concerns not only hinder widespread adoption but also invite regulatory scrutiny. Moreover, the hardware cost remains a substantial barrier to the market’s growth. High-quality VR headsets and AR glasses often come with hefty price tags, limiting access for budget-conscious consumers. This pricing obstacle curtails market penetration, particularly in less affluent demographics. Interoperability and content fragmentation also pose notable restraints. With multiple platforms and devices, the lack of standardized content formats hampers seamless user experiences and deters developers from investing in a fragmented ecosystem.

    Growth Opportunity

    Evolving Consumer Preferences and Wide Applications in the Healthcare Sector are Expected to Create Many Lucrative Opportunities in the coming years.

    The market is expected to create many lucrative opportunities over the forecast period as a result of technological advancements and evolving consumer preferences. One such avenue is the integration into various sectors, including education and training. The pandemic highlighted the potential of virtual classrooms and training simulations, underscoring the demand for realistic learning experiences that enhance engagement and retention.

    Furthermore, the healthcare sector presents significant prospects for the market in the upcoming years as this technology offers avenues for medical training, surgical simulations, and telemedicine by revolutionizing patient care and medical education. Similarly, the tourism industry can also leverage it to provide virtual travel experiences by allowing individuals to explore destinations remotely.

    Latest Trends

    Integration of Artificial Intelligence for Enhanced User Experience is Trending in the Market.

    The market is witnessing dynamic trends that are reshaping its landscape and influencing consumer behaviors. There is a noticeable surge in demand for more personalized and interactive content experiences. This trend is driving the development of storytelling techniques that engage users emotionally and cognitively by transcending passive consumption. Moreover, the convergence of immersive media with other cutting-edge technologies like 5G and artificial intelligence (AI) is accelerating the evolution of seamless and responsive experiences. This fusion enhances real-time interactions, reduces latency, and opens avenues for more complex and data-driven applications.

    By Component Analysis

    Hardware Leads the Component Segment by Holding Major Revenue Share

    Based on components, the market is divided into hardware, software, and services. Among these components, hardware dominates the segment in the market by securing a major revenue share of 53.6%. Hardware remains an indispensable foundation for delivering the intricate sensory experiences inherent to this media. Advanced processors, GPUs, and display technologies are imperative for rendering high-definition visuals, spatial audio, and responsive haptic feedback, thereby facilitating users’ heightened sense of presence. The demand for various devices like head-mounted displays, VR headsets, and other devices has grown significantly in the last few years.

    By Technology Analysis

    Virtual Reality Technology Dominates the market by Holding a Major Revenue Share

    Based on technology, The market is classified into virtual, augmented, mixed, and other technologies. From these technologies, virtual reality holds a major revenue share of 46.4% to dominate the segment through the forecast period. This growth of virtual reality can be attributed to the ability of VR to provide an unparalleled level of immersion by completely transporting users into simulated worlds where sensory experiences are meticulously crafted. This heightened sense of presence has found multifaceted applications from gaming and entertainment to training simulations in industries like healthcare, aviation, and the military.

    Immersive Media Market Share

    Note: Actual Numbers Might Vary In The Final Report

    Application Analysis

    Training & Learning Leads the Application Segment in the Market by Securing Major Revenue Share in Account.

    Based on Application, the market is classified into training & learning, emergency services, product development, sales & marketing, and other applications. Out of these applications, training & learning lead the segment in the market by holding the major revenue share of 38.4% account. This growth of training & learning is due to its ability to enhance training efficacy, simulate realistic environments, and cater to diverse learning needs, which has rendered it indispensable in fostering skill development and expertise across various domains.

    By End-Use Industry Analysis

    Media & Entertainment Industry Leads the End-Use Industry Segment in Market by Covering Major Revenue Share in Account.

    Based on the end-use industry, the market is classified into gaming, retail, automobile, education, media & entertainment, design & architecture, and other end-use industries. From these end-use industries, the media & entertainment industry leads the segment in the market by holding the major revenue share into account. Media & entertainment leverages these advanced technologies to enhance content consumption, such as offering realistic movie experiences or creating interactive virtual events.

    Key Market Segments

    Component

    • Hardware
    • Software
    • Services

    Technology

    • Virtual Reality
    • Augmented Reality
    • Mixed Reality
    • Other Technologies

    Application

    • Training & Learning
    • Emergency Services
    • Product Development
    • Sales & Marketing
    • Other Applications

    End-Use Industry

    • Gaming
    • Retail
    • Automobile
    • Education
    • Media & Entertainment
    • Design & Architecture
    • Other End-Use Industries

    Regional Analysis

    North America Dominates the Market by holding a Major Revenue Share.

    The North America region leads the market by holding a major revenue share of 44.2% in the account. This exponential growth of the North American region is due to the availability of developed technological infrastructure in countries like the United States and Canada. These countries adopted advanced technologies way before other countries across the world. High demand for real-time and virtual world experiences is propelling the growth of the North American region in the global market.

    After North America, the Asia Pacific region is expected to grow at the fastest CAGR over the forecast period. Growing disposable income and high adoption of advanced technologies are expected to drive the growth of the Asia Pacific region in the market.

    Immersive Media Market Region

    Note: Actual Numbers Might Vary In The Final Report

    Key Regions and Countries Covered in this Report

    • North America
      • The US
      • Canada
    • Europe
      • Germany
      • France
      • The UK
      • Spain
      • Italy
      • Russia
      • Netherland
      • Rest of Europe
    • APAC
      • China
      • Japan
      • South Korea
      • India
      • Australia
      • New Zealand
      • Singapore
      • Thailand
      • Vietnam
      • Rest of APAC
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Rest of MEA

    Key Player Analysis

    The market exhibits a competitive landscape with prominent players driving its growth. Major contributors include companies like Apple Inc., Sony, Microsoft, and Google, among others. The market share is distributed among these key players due to their substantial investments in augmented reality (AR) and virtual reality (VR) technologies.

    The market expansion is underscored by increasing consumer demand for interactive and realistic experiences. The competitive nature of this arena necessitates ongoing innovation to captivate users and secure market dominance. Some of the key players in the market are Honeywell International Inc., HTC Corporation, Google LLC, Sony Corporation, Microsoft Corporation, Apple Inc., Qualcomm Incorporated, NVIDIA Corporation, Epic Games, Acer Inc., and Other Key Players.

    Top Key Players in the Immersive Media Market

    • Honeywell International Inc.
    • HTC Corporation
    • Google LLC
    • Sony Corporation
    • Microsoft Corporation
    • Apple Inc.
    • Qualcomm Incorporated
    • NVIDIA Corporation
    • Epic Games
    • Acer Inc.
    • Other Key Players

    Recent Developments

    • May 2023: Microsoft announced the acquisition of Activision Blizzard, a major video game developer, for ~$69 billion. This move strengthens Microsoft’s position in the metaverse and gaming industry, which are key components of immersive media.
    • July 2023: Meta (formerly Facebook) launched the Meta Quest Pro, a high-end virtual reality headset featuring improved resolution, processing power, and eye tracking. This signifies Meta’s continued commitment to developing advanced VR hardware for the immersive media market.
    • September 2023: Sony unveiled the PlayStation VR2, the next generation of its virtual reality headset for the PlayStation 5 console. This release expands Sony’s offerings in the VR space and caters to a wider audience of gamers and immersive media enthusiasts.
    • October 2023: Epic Games announced a partnership with Lego Group to develop a new immersive, 3D virtual world aimed at children, combining creative play with metaverse elements. This collaboration highlights the potential of immersive media for educational and entertainment purposes beyond gaming.
    • November 2023: Qualcomm introduced its new Snapdragon XR2 Gen 2 chip, specifically designed for augmented reality and virtual reality devices. This advancement provides improved performance and efficiency for next-generation immersive media experiences.

    Report Scope

    Report Features Description
    Market Value (2023) US$ 30.7 Bn
    Forecast Revenue (2032) US$ 178.7 Bn
    CAGR (2023-2032) 22.3%
    Base Year for Estimation 2022
    Historic Period 2016-2022
    Forecast Period 2023-2032
    Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments
    Segments Covered By Component – Hardware, Software, and Services; By Technology – Virtual Reality, Augmented Reality, Mixed Reality, and Other Technologies; By Application – Training and learning, Emergency Services, Product Development, Sales and marketing, and Other Applications; By End-Use Industry – Gaming, Retail, Automobile, Education, Media & Entertainment, Design & Architecture, Other End-Use Industries
    Regional Analysis North America – The U.S. & Canada; Europe – Germany, France, The UK, Spain, Italy, Russia, Netherlands & Rest of Europe; APAC- China, Japan, South Korea, India, Australia, New Zealand, Singapore, Thailand, Vietnam & Rest of APAC; Latin America- Brazil, Mexico & Rest of Latin America; Middle East & Africa- South Africa, Saudi Arabia, UAE & Rest of MEA
    Competitive Landscape Honeywell International Inc., HTC Corporation, Google LLC, Sony Corporation, Microsoft Corporation, Apple Inc., Qualcomm Incorporated, NVIDIA Corporation, Epic Games, Acer Inc., and Other Key Players
    Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements.
    Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)

    Frequently Asked Questions (FAQ)

    What is immersive media?

    Immersive media is any type of media that surrounds the user and creates a sense of presence. This can include virtual reality (VR), augmented reality (AR), mixed reality (MR), and volumetric video.

    What is the immersive technology trend?

    Some of the key trends in immersive technology include:

    • The increasing adoption of VR and AR: VR and AR are becoming increasingly popular, as the technology becomes more affordable and accessible.
    • The development of more realistic and immersive experiences: Immersive technology developers are constantly working to create more realistic and immersive experiences.
    • The use of immersive technology in new and innovative ways: Immersive technology is being used in new and innovative ways, such as in education, healthcare, and training.
    • The convergence of different immersive technologies: Different immersive technologies are converging, creating new and exciting possibilities.

    What are the features of immersive multimedia?

    The features of immersive multimedia include:

    • Multisensory stimulation: Immersive multimedia uses multiple senses to create an immersive experience, such as sight, sound, touch, smell, and taste.
    • Real-time interaction: Immersive multimedia allows users to interact with the content in real time, which creates a more engaging experience.
    • 360-degree views: Immersive multimedia can provide users with 360-degree views of the content, which creates a more immersive experience.
    • Head tracking: Immersive multimedia can track the user's head movements, which allows the content to be rendered accordingly.
    • Haptics: Immersive multimedia can use haptic feedback to simulate the feeling of touching objects in the virtual world.
    • Spatial audio: Immersive multimedia can use spatial audio to simulate the sound of objects in the virtual world.

    What are the challenges of immersive media?

    The challenges of immersive media include:

    • High cost: Immersive media is still a relatively new technology, and the cost of hardware and software can be high.
    • Lack of content: There is still a limited amount of content available for immersive media.
    • Motion sickness: Some people may experience motion sickness when using immersive media.
    • Eye strain: Some people may experience eye strain when using immersive media.

    Who are the major players in the immersive media market?

    • Honeywell International Inc.
    • HTC Corporation
    • Google LLC
    • Sony Corporation
    • Microsoft Corporation
    • Apple Inc.
    • Qualcomm Incorporated
    • NVIDIA Corporation
    • Epic Games
    • Acer Inc.
    • Other Key Players

    Why is virtual reality called immersive multimedia?

    Virtual reality is called immersive multimedia because it uses a variety of technologies to create an immersive experience for the user. This includes:

    • Head-mounted displays (HMDs): HMDs are devices that are worn on the head and project images onto the user's eyes. This creates a 360-degree view of the virtual world.
    • Tracking devices: Tracking devices are used to track the user's head and body movements. This allows the virtual world to be rendered accordingly.
    • Audio: Virtual reality can also use audio to create an immersive experience. This includes surround sound and spatial audio, which can make the user feel like they are surrounded by sound.
    • Haptics: Haptics is the sense of touch. Virtual reality can use haptic feedback to simulate the feeling of touching objects in the virtual world.

    The combination of these technologies creates an immersive experience that allows the user to feel like they are in the virtual world. This is why virtual reality is called immersive multimedia.

    Immersive Media Market
    Immersive Media Market
    Published date: March 2024
    add_shopping_cartBuy Now get_appDownload Sample
    keyboard_arrow_up
    • Honeywell International Inc.
    • HTC Corporation
    • Google LLC
    • Sony Corporation
    • Microsoft Corporation Company Profile
    • Apple Inc. Company Profile
    • Qualcomm Incorporated
    • NVIDIA Corporation
    • Epic Games
    • Acer Inc.
    • Other Key Players
  • settingsSettings

Related Reports

  • Virtual Reality Headset Market
  • Mixed Reality Market
  • Multi-Access Edge Computing Market
  • Extended Reality Market
  • Datafication Market
  • Cloud Security Market

Our Clients

  • Our Clients
Inquiry Before Buying

Immersive Media Market
  • 105752
  • March 2024
    • ★★★★★
      ★★★★★
    • (73)
add_shopping_cart Buy Now
Trusted by more than 17382 organizations globally
  • Client Logo
  • Client Logo
  • Client Logo
  • Client Logo
  • Client Logo
  • Client Logo
✖
Request a Sample Report
We'll get back to you as quickly as possible

Single User
$6,000
$3,999
USD / per unit
save 24%
Multi User
$8,000
$5,999
USD / per unit
save 28%
Corporate User
$10,000
$6,999
USD / per unit
save 32%
e-Access
Report Library Access
Data Set (Excel)
Print
Company Profile Library Access
Interactive Dashboard
Free Custumization No up to 10 hrs work up to 30 hrs work
Accessibility 1 User 2-5 User Unlimited
Analyst Support up to 20 hrs up to 40 hrs up to 50 hrs
Benefit Up to 20% off on next purchase Up to 25% off on next purchase Up to 30% off on next purchase
Buy Now ($ 3,999) Buy Now ($ 5,999) Buy Now ($ 6,999)
  • location_on420 Lexington Avenue, Suite 300 New York City, NY 10170,
    United States
  • phone+1 718 874 1545 (International)
  • phone+91 78878 22626 (Asia)
  • email[email protected]
  • Facebook Logo
  • Twitter Logo
  • LinkedIn Logo
Find Help
  • Contact Us
  • How to Order
Legal
  • Privacy Policy
  • Refund Policy
  • Frequently Asked Questions
  • Terms and Conditions
Explore
  • About Us
  • All Reports
  • All Sectors
  • Infographics
  • Statistics and Facts
  • Companies
Secured Payment Options
Secured Payment Options

© 2025 Market.Us. All Rights Reserved.