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Immersive Media solutions market is valued at USD 18.49 Billion in 2018 and expected to reach USD 929.39 Billion by 2025 with the CAGR of 75% over the forecast period.
Increasing the demand for the virtual reality environments in the media, entertainment and gaming industry with the help of advanced technological tools in the digital and virtual worlds is important factor driving the growth of Immersive Media solutions market.
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Immersive Media solution is the combination of Augmented Reality, Virtual Reality, Mixed Reality and 3600 video visual. Thus it provides the experience of multi dimensional sound and haptic feedback, on the standard media in virtual reality with technology. The evolution of technology has possibility to combine three dimensions of human sensory capabilities to create an immersive experience. Immersive media technologies consist of ecosystem with five parameters like, application developers, hardware, technology & platform developer’s content producers, and system integrators.
Immersive Media solutions Manufacturers:
Global Immersive Media solutions market reports cover prominent players like,
Zeality, VORTEX, NCTech Limited, eyeSphere, others.
Global Immersive Media solutions Market Dynamics –
The key factor for growth of global immersive media solutions market is increasing the demand for the virtual reality environments in the media, entertainment and gaming industry with the help of advanced technological tools in the digital and virtual worlds. As per United Nations Conference on Trade and Development since 2015, digital platform companies’ capitalization was valued around USD 7 trillion in 2017 increased by 67% higher. Thus increasing demand for the digital platforms has huge demand for the immersive media solutions in the digital media, entertainments and gaming. As per the India Brand Equity Foundation (IBEF), the Entertainment Industry including the virtual reality, mixed reality and animation is increasing at the compounding annual growth rate of 11.80 per cent by 2021 globally which propels the immersive media solution market.
Moreover rising focus on technological advancement with 5G, artificial intelligence, IoT in the entertainment and gaming industry have created huge opportunity to fuel the global Immersive Media solutions market. In addition, 5G Festival like live events of music ongoing trend worldwide which may create huge opportunity for this market. For instance 23rd Jan the 2020 Cannes Festival has showcased the le new kind of immersive media experience with the combination of high-resolution video, ultra-wide vision field, user interaction and spatial sound.
Furthermore, increasing mergers, collaborations, acquisitions and new testing launching by various prominent players may create huge opportunity for the Immersive Media solutions market during the study period. Conversely, one of the major factors that restrict the immersive media solutions market is require lack of availability of relevant content due to diverse requirements and higher costs of AR & VR devices for the advanced immersive media solution market.
Immersive Media solutions Market Segmentation –
by Deployment Type: On-premise based, Cloud based
by Technology: Virtual reality, Augmented reality, Mixed reality, 360 degree videos content
by End-user: Gaming, Design & Architecture, Retail, Automobile, Education, Location-based Entertainment, Travel & Hospitality, Others
Segmentation Analysis:
The global Immersive Media solutions are segmented on the basis of deployment, technology, end-user, region and country level.
Depending on the deployment, the global location based virtual reality market is divided into on-premise and cloud based. Among this, cloud-based segment has highest market share owing to increasing demand for cloud computing in the SMEs, and large corporations.
On the basis of technology, the global immersive Media solutions market is classified as virtual reality, augmented reality, mixed reality and 360 degree videos content. Among this, virtual reality segment has largest market share in 2019 owing to rising new product launch and rising partnerships related to entertainment. For instance VRstudios and Springboard VR, a leading distribution platform for VR Arcade and content marketplace operators has been made partnership to deliver multiplayer Virtual Reality (VR) systems for Location-Based Entertainment (LBE) businesses.
Depending on end-user, the market is segmented into Gaming, Design & Architecture, retail, 3D simulation, 3600 Vide, Education, Location-based Entertainment, Travel & Hospitality and others. Among this, gaming segment has largest market share in 2019 owing to increasing number of gaming audiences all over the world.
The regions covered in global Immersive Media solutions market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market is sub divided in U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Immersive Media solutions Market Regional Analysis –
North America is expected to dominate the growth Immersive Media solutions market with the potential rate owing to increase in penetration of media and entertainment (M&E) industry in this region followed by Europe. As per the International Trade Administration (ITA) organization, the U.S. has the largest share of media and entertainment (M&E) industry with estimated value around USD 717 billion in 2019 and is projected to reach around USD 825 billion by 2023. This is primarily due to presence of television programs and commercials, music and audio recordings, broadcast, radio, book publishing, streaming content, motion pictures, video games and products.
The Asia Pacific is the largest still the world's strongest growth market for the growth of immersive media solutions due to rapidly increasing adoption of advanced technology in in the media, entertainment industry with surge in population.
Table of Content
1. Chapter – Report Methodology
1.1. Research Process
1.2. Primary Research
1.3. Secondary Research
1.4. Market Size Estimates
1.5. Data Triangulation
1.6. Forecast Model
1.7. USP's of Report
1.8. Report Description
2. Chapter - Immersive Media Solutions Market Overview: Qualitative Analysis
2.1. Market Introduction
2.2. Executive Summary
2.3. Immersive Media Solutions Market Classification
2.4. Market Drivers
2.5. Market Restraints
2.6. Market Opportunity
2.7. Immersive Media Solutions Market: Trends
2.8. Porter's Five Forces Analysis
2.9. Market Attractiveness Analysis
3. Chapter – Immersive Media Solutions Market Overview: Quantitative Analysis
4. Chapter - Immersive Media Solutions Market Analysis: Segmentation By Type
5. Chapter - Immersive Media Solutions Market Analysis: Segmentation By Application
Continued....
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