Immersive Analytics Market Size, Share, and Industry Analysis, By Component (Hardware, Solution, and Services), By End-use Industry (Healthcare, Media and Entertainment, Automotive and Transportation, Construction, Government and Defense, and Others), and Regional Forecast, 2024-2032

Immersive analytics technology leverages advanced analysis tools to provide its end users with valuable insights that help make informed decisions. The tools use the capabilities of AR, VR, MR, and other immersive technologies to provide enhanced user experience.

The market is gaining traction due to the increasing demand for data-driven decisions from various firms across end-user industries. In addition, the surge in the volume of data across the globe is fueling the market growth. According to industry experts, the global volume of generated across the globe surpassed 79 zettabytes in 2021. By the end of 2025, this volume is anticipated to grow up to 180 zettabytes at the global level.

In addition, the integration of AR/VR technologies across several industries is heavily driving market growth. However, the AR/VR market is still in its infancy stage and factors such as poor user experience, cost to consumers, and legal risks may restrict the market growth. The chart below highlights the top restricting factors of the AR/VR market. The chart represents survey results that were published in March and were conducted before the pandemic. As per Perkins Coie, it has been observed that poor user experience, owing to bulky hardware and technical glitches, is the highest barrier to the adoption of AR technologies. Over 32% of respondents reported the same. Furthermore, about 27% of respondents believe that content offerings are the greatest barrier to the current adoption of VR technologies. (191 Respondents)

The COVID-19 pandemic positively impacted the market owing to accelerated digital transformation, rising demand for remote collaboration tools, and investments in immersive analytics technologies. Furthermore, generative AI had a significant impact on the market, driven by its enhanced data generation and visualization, improved user experience, and real-time data processing capabilities. As technology progresses, the market is expected to grow at a rapid rate in the coming years.

Segmentation

Key Insights

The report covers the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by Key Players


• Impact of Generative AI on the Immersive Analytics Market


• Consolidated SWOT Analysis of Key Players

Analysis By End-use Industry

By end-use industry, the market is divided into media and entertainment, healthcare, automotive and transportation, construction, government and defense, and others. The others segment includes retail and education, among others.

In 2023, the healthcare segment dominated the market owing to the early adoption of analytics solutions across the sector. Healthcare end users use immersive analytics tools to get valuable insights and make better decisions. This approach saves costs and helps them provide better services to patients. Applications of immersive analytics across the sector include patient data visualization, educational training, and treatment planning, among others. The following instance highlights the engagement of healthcare market players in the immersive analytics ecosystem.

In December 2023, Vantari VR received over USD 7 million in funding following its major advancements in the immersive healthcare solutions ecosystem. The funding was secured in a “pre-series” A funding round, which was led by Act Capital in tandem with assistance from Sirius Capital, Acova Capital, and Significant Early Venture Capital.

Furthermore, the chart below highlights the industries that are expected to face the most disruption by immersive technologies beyond the gaming and entertainment sectors. As per Perkins Coie, around 38% of respondents believe that the healthcare sector is expected to be majorly impacted by immersive technologies in the coming years. On the other hand, only 13% cited that immersive technologies would majorly disrupt the real estate sector. (191 Respondents)

Regional Analysis

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The global immersive analytics market has been studied across the following major regions: South America, North America, the Middle East & Africa, Europe, and Asia Pacific.

In 2023, the North America governed the market owing to the early adoption of new-age technologies, technological leadership of the U.S., and the presence of key market players. The following instance demonstrates the engagement of North America-based market players in the immersive analytics ecosystem.

In January 2023, Qualcomm Technologies, Inc. and Salesforce struck a strategic collaboration with the aim of creating a new intelligent connected vehicle platform dedicated to be used by its automotive end users. The platform has been developed with Salesforce Automotive Cloud and Snapdragon Digital Chassis to provide fleet providers, automakers, automotive finance groups, and other suppliers with enhanced user experience.

Furthermore, the Europe and Asia Pacific markets showcase a positive growth trajectory owing to increasing R&D investments, strong government backing, emerging small-scale market players, and advancing economies across these regions.

The slow-paced growing regions in the global immersive analytics market are South America, the Middle East and Africa. However, the increasing inclination of colossal market players toward investing and expanding business across these regions is expected to propel regional growth.

Distribution of the Global Immersive Analytics Market, By Region of Origin:

• North America – 34%


• South America – 6%


• Europe – 25%


• Middle East & Africa – 13%


• Asia Pacific – 22%

Key Players Covered

The key players in this market include Microsoft Corporation, Salesforce, Inc., Unity Technologies, SAP SE, Dassault Systèmes, IBM Corporation, NVIDIA Corporation, TIBCO Software Inc. (Cloud Software Group Holdings, Inc.), QlikTech International AB, and Domo, Inc.

Key Industry Developments

• March 2024: Siemens shared plans to enter an extended strategic collaboration with NVIDIA with the objective of developing the industrial metaverse. The company integrates NVIDIA Omniverse Cloud API’s immersive visualization capabilities with the Siemens Xcelerator platform. At the NVIDIA GTC, the companies showcased how gen AI expertise can transform the visualization of critical data and how sustainable shipbuilder HD Hyundai could leverage it to create new solutions.


• March 2023: TIBCO made major advancements in its analytics suite, which would help end users benefit from the valuable insights. The enhancements made to the TIBCO Spotfire and other analytics tools try to bridge the gap between action and insight. This approach helps companies to speed up decision capabilities and reduce operational costs.