Immersive Media Solutions Market unveils a succinct analysis of the market size, regional spectrum and revenue forecast about the Immersive Media Solutions Market. Furthermore, the report points out major challenges and the latest growth plans embraced by key manufacturers that constitute the competitive spectrum of this business domain.
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.
Immersive Media solutionis the combination ofAugmented 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 mediatechnologies consist of ecosystem with five parameters like, application developers,hardware, technology & platform developer’s content producers, and system integrators.
Global Immersive Media solutionsMarket 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 Developmentsince 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 ontechnological advancement with5G, artificial intelligence, IoT in the entertainment and gaming industryhave created huge opportunity to fuel the global Immersive Media solutionsmarket.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 interactionand spatial sound.
Furthermore, increasingmergers, 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 solutionsmarket is require lack of availability of relevant content due to diverse requirements and higher costs of AR & VR devicesfor the advanced immersive media solution market.
Key players for global Immersive Media solutionsmarket reports –
Global Immersive Media solutions market reports cover prominent players like Zeality, VORTEX, NCTech Limited,eyeSphere,and many others.
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Vortex immersion had launched a 2,500-seater dome VR multiplex for headset-free experiences
News: 19Feb 2019:-Vortex immersive entertainment company has opted to offer a new option to experience virtual reality without usingthe troublesome headsets. The company had launched a 360-degree dome-shaped multiplex with around 2,500 audiences capacity based theatre at Phoenix, Arizona. For that purpose Vortex has become made partnership withthe Sollanna Group, to build the domeplex and has planned to open in 2020.
The global Immersive Media solutionsare segmented on the basis ofdeployment,technology, end-user, region and country level.
Depending on thedeployment, 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 degreevideos content. Among this, virtual reality segment has largest market share in 2019 owing to rising new product launch andrising partnerships related to entertainment. For instance VRstudios and SpringboardVR, a leadingdistribution 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 solutionsMarket Regional Analysis –
North America is expected to dominate the growthImmersive Media solutionsmarket 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 oftelevision 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 solutionsdue to rapidly increasing adoption of advanced technology in in the media, entertainment industry with surge in population.
Key Benefits for In Vitro Diagnostic’s servicesMarket Reports –
· Global Immersive Media solutionsmarket report covers in depth historical and forecast analysis.
· Global Immersive Media solutionsMarket research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
· Global Immersive Media solutionsmarket report helps to identify opportunities in market place.
· Global Immersive Media solutionsmarket report covers extensive analysis of emerging trends and competitive landscape.
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Immersive Media Solutions Market Segmentation –
Immersive Media solutionsmarket: by DeploymentType
Immersive Media solutions Market: by Technology
360 degree videos content
Immersive Media solutions Market: by End-user
Design & Architecture
Travel & Hospitality