US Immersive Technology Market Research Report Information By Component (Hardware (Head-Mounted Display, Gesture Tracking Devices, Projectors & Display Walls, Software/Platform, and Services (Professional, Managed)), By Technology (Mixed Reality (MR), Virtual Reality (VR), Augmented Reality, and 360 Film), Application (Training & Learning, Emergency Services, Product Development, and Sales & Marketing), Industry (Healthcare, Retail & eCommerce, Education, Construction, Media & Entertainment, Gaming, Manufacturing – Forecast Till 2032

US Immersive Technology Market Overview

US Immersive Technology Market Size was valued at USD 10.6 Billion in 2022. The immersive technology market industry is projected to grow from USD 13.30 Billion in 2023 to USD 81.865 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 25.50% during the forecast period (2023 - 2032). Some of the market drivers that are boosting the market's expansion include increased investment in immersive technologies, the growing use of immersive technologies for teaching and learning in the healthcare industry, and the rise of web 3.0 and the metaverse.

Immersive Technology Market Trends

• Healthcare industry's growing use of immersive technologies for training and education is anticipated to propel market growth

Several businesses are using augmented reality (AR) and virtual reality (VR) technologies into their operations as the world grows more digitally connected, realizing dreams that previously seemed unattainable. The healthcare sector is one such industry. Better health outcomes and more precise and accurate solutions can be achieved by integrating technology like augmented reality and virtual reality in healthcare. Additionally, the application of augmented and virtual reality technology in medical education is growing. All aspects of teaching and training are made easier by the use of immersive technologies. Moreover, in order to lower the chance of error and enhance patient outcomes, medical practitioners employ virtual reality simulations to rehearse complicated tasks such as surgical procedures in a safe and controlled environment. Through the overlaying of digital images over the patient's body, real-time assistance, and a reduction in invasive procedures, augmented reality aids surgeons during operations.

The adoption of new technologies in various industries, such as retail, healthcare, and industry, has been primarily driven by technological advancement and digitalization. Continuous technological advancements have brought about changes in how people live, interact, travel, and learn. Organizations and businesses have been able to reduce manufacturing costs and save time thanks to technology advancements in order to gain a competitive advantage. For instance, smaller businesses can now reach their target customers at a lower cost of operation thanks to 3G and 4G. The growing popularity of cell phones has also contributed to the desire for digitization. The younger generation—referred to as generation connected—is the driving force behind the widespread use of digital technologies. Increased social connectivity has also contributed to the growth of digitalization. Thus, driving the immersive technology market revenue.

Immersive Technology Market Segment Insights:

Immersive Technology Component Insights

The US Immersive Technology market segmentation, based on component includes Hardware (Head-Mounted Display (HMD), Gesture Tracking Devices (GTD), Projectors & Display Walls (PDW)), Software/Platform, and Services (Professional, Managed). The software/platform segment dominated the market mostly Users can produce and distribute material among different user groups using the immersive technologies software. The increasing demand for remote collaboration, software requirements for content production, and product development are driving the growth of this market.

Immersive Technology Technology Insights

The US Immersive Technology market segmentation, based on technology, includes Mixed Reality (MR), Virtual Reality (VR), Augmented Reality (AR), and 360 Film. The mixed reality (MR) category generated the most income. The capacity to develop rich and captivating experiences and numerous use cases in product marketing and advertising, providing customers with a hands-free product experience, is what is fueling the growth of this sector.

Immersive Technology Application Insights

The US Immersive Technology market segmentation, based on application, includes Training & Learning, Emergency Services, Product Development, and Sales & Marketing. The sales & marketing category generated the most income. Numerous effects of immersive technologies are felt by the customer. These days, brands are depending on immersive technology that will cause disruptive change in order to create a great customer experience.

Immersive Technology Industry Insights

The US Immersive Technology market segmentation, based on industry, includes Healthcare, Retail & eCommerce, Education, Construction, Media & Entertainment, Gaming, Manufacturing, Aerospace & Defense, and Others (Automotive, Energy, etc.). The media & entertainment category generated the most income. The game industry is experiencing challenges due to augmented and virtual worlds. AR incorporates game visuals and audio into the real environment, whereas VR provides a complete replication of the user's surroundings. It is projected that AR and VR will improve player experience and increase business profitability.

Immersive Technology Regional Insights

The US immersive technology market area will grow at a significant rate. The country's significant portion is explained by the rising investments in digital infrastructure as well as the growing trend of technology companies in the region toward web 3.0 and metaverse. Additionally, the region's end-use industries are heavily reliant on the utilization of immersive technologies, which is anticipated to propel market expansion. For instance, the U.S. Ford Motor Company constructed a cutting-edge VR design studio in June 2023. Using the Ford VR studio, professionals such as designers, engineers, and product developers can access virtual workspaces from any place, converting their houses into fully functional, immersive studios that boost output and operational effectiveness.

Immersive Technology Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the immersive technology market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, immersive technology industry must offer cost-effective items.

Key Companies in the immersive technology market include

• Acer Inc.


• Atheer, Inc.


• AVEVA Group PLC


• Barco NV


• Blippar Ltd.


• Carl Zeiss AG


• CM Labs Simulations Inc.


• EON Reality, Inc.


• FAAC Incorporated


• Google, LLC


• HCL Technologies Limited


• Honeywell International, Inc.


• HTC Corporation


• Immersive Media Company


• Immersive Technologies Pty Limited


• Lockheed Martin Corporation


• Magic Leap, Inc.


• NCTech Limited


• Oculus (Facebook Technologies, LLC.)


• Samsung Group


• Sony Corporation


• Unity Software Inc.


• Varjo Technologies Oy


• VI-grade GmbH


• Zeality Inc.

Immersive Technology Market Segmentation

Immersive Technology Component Outlook

• Hardware
  
  
  
  • Head-Mounted Display (HMD)
  
  
  • Gesture Tracking Devices (GTD)
  
  
  • Projectors & Display Walls (PDW)
  
  
  
  


• Software/Platform


• Services
  
  
  
  • Professional
  
  
  • Managed
  
  
  
  

Immersive Technology Technology Outlook

• Mixed Reality (MR)


• Virtual Reality (VR)


• Augmented Reality (AR)


• 360 Film

Immersive Technology Application Outlook

• Training & Learning


• Emergency Services


• Product Development


• Sales & Marketing

Immersive Technology Industry Outlook

• Healthcare


• Retail & eCommerce


• Education


• Construction


• Media & Entertainment


• Gaming


• Manufacturing


• Aerospace & Defense


• Others (Automotive, Energy, etc.)