A Global Immersive Entertainment Market Size study & Forecast, by Technology Type (Virtual Reality (VR)

Global Immersive Entertainment Market Size study & Forecast, by Technology Type (Virtual Reality (VR), Augmented Reality (AR), Mixed Reality (MR), Others), by Application (Gaming, Live Events, Museum and Cultural Experiences, Music and Concerts, Sports, Arcade Studios, Immersive Theater, Others), and Regional Analysis, 2023-2030

Global Immersive Entertainment Market is valued approximately at USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. The immersive entertainment market encompasses a broad range of industries and technologies that aim to provide users with highly engaging and interactive experiences that blur the lines between the physical and digital worlds. This market includes various forms of entertainment, such as virtual reality (VR), augmented reality (AR), mixed reality (MR), 360-degree video, immersive gaming, and interactive media experiences. Key components of the immersive entertainment market include hardware devices such as VR headsets, AR glasses, motion controllers, and haptic feedback devices, as well as software applications, games, simulations and content creation tools tailored for immersive experiences. The market growth is driven by key factors such as innovations and development in technology such as VR & AR, and demand for improved entertainment experiences.

As per Statista, user base for AR and VR devices remains relatively small, with growth expectations until 2027 not reaching a level that would position mixed reality as the dominant computing platform in the near term. This year, it's estimated that 98 million individuals will be utilizing VR hardware, while 23 million will be engaging with more sophisticated AR technology. However, by 2027, both AR and VR are anticipated to exceed 100 million users globally. Furthermore, the entertainment industry has experienced a significant surge due to the pandemic. With widespread lockdowns and social distancing measures, people turned to entertainment as a primary source of comfort and distraction. Binge-watching became a prevalent activity as individuals sought solace and relief from feelings of isolation and melancholy. Research conducted by the National Library of Medicine revealed that a staggering 73.7% of respondents noted a substantial uptick in their consumption of TV and internet content. Moreover, adults aged 18 and above reported experiencing heightened levels of psychological distress, with percentages rising from 20.8% to 29.5%. Additionally, the prevalence of sleep disturbances ranged between 20.2% and 24.7%, underscoring the profound impact of the pandemic on mental well-being. As a result, the entertainment industry saw increased demand and engagement as people sought refuge and diversion during challenging times. However, lack of awareness stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Immersive Entertainment Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the regional market in 2022 with largest revenue share due to concentration of major companies and start-ups within the region, contributing to its economic stronghold in the market. Along with this, Asia Pacific is expected to be the fastest growing region owing to many companies within the market are actively engaged in expanding their market presence to reach a broader customer base and reinforce their position in the industry.

Major market player included in this report are:
Qualcomm Technologies, Inc.
Meta Platforms, Inc.
Microsoft Corporation
HTC Corporation
Barco NV
Magic Leap, Inc.
Samsung Electronics Co., Ltd.
Apple Inc.
Sony Group Corporation
Unity Technologies

Recent Developments in the Market:
 NA

Global Immersive Entertainment Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Technology, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to 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 caters 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 Technology:
Virtual Reality (VR)
Augmented Reality (AR)
Mixed Reality (MR)
Others

By Application:
Gaming
Live Events
Museum and Cultural Experiences
Music and Concerts
Sports
Arcade Studios
Immersive Theater
Others

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

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Qualcomm Technologies, Inc.
Meta Platforms, Inc.
Microsoft Corporation
HTC Corporation
Barco NV
Magic Leap, Inc.
Samsung Electronics Co., Ltd.
Apple Inc.
Sony Group Corporation
Unity Technologies

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.