Global Immersive Media Solutions Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Immersive Media Solutions are based on immersive technology that creates or imitate closely the physical world with the use of Extended reality technologies such as augmented reality, mixed reality, and virtual reality. Moreover, these solutions have application across the industries such as engineering, media, healthcare, education, and retail among others. Augmented reality deals with the modification of a real-life environment by the addition of sound, visual elements, or other sensory stimuli. Whereas Virtual reality deals with creating three dimensions based virtual environment that mimics the real-world environment. The increasing adoption of extended reality (XR) technologies across the industries and growing digitization in healthcare & education industries as well as strategic initiatives from leading market players are key factors accelerating the market growth.

The increasing adoption of Extended reality technologies (XR) across the industries is contributing to the growth of the Global Immersive Media Solutions Market. For instance, according to Statista - in 2021, global augmented reality (AR), virtual reality (VR), and mixed reality (MR) market was valued at USD 28 billion, and the market is projected to cross the mark of USD 250 billion by 2028. Also, rising proliferation of smartphones and growing emergence of immersive media solution providers would create lucrative growth prospectus for the market over the forecast period. However, data privacy and security concerns stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Immersive Media Solutions Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of leading market players and availability of required technological infrastructure and growing investment from leading market players in extended reality technologies in the region. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising industrialization, and increasing investment from government authorities towards upgradation of network infrastructure, coupled with rising penetration of smartphones in the region.

Major market players included in this report are:

Zeality

VORTEX

NCTech Limited

eyeSphere

SpringboardVR

Facebook Technologies, LLC.

Sony Group Corporation

HTC Corporation

Microsoft Corporation

Google LLC

Recent Developments in the Market:

In May 2022, Tata Elxsi announced partnership with Lenovo for development of smart Extended Reality (XR) solutions for enterprise and engineering applications. Moreover, with this partnership both the players would offer end to end solutions and services with the help of Lenovo's smart XR devices.
Global Immersive Media Solutions Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Deployment, Application, Organization Size, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also provides detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Deployment

Cloud-based

On-Premises

By Application

Mobile app development

Social media Engagement

Digital Campaign

AR & VR

Others

By Organization Size

Small and Medium Enterprises

Large Enterprises

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

RoLA

Rest of the World