Immersive media is defined by the immersive technology that seeks to create or mimic the physical world with digital imitation. It is a combination of technology and reality. According to a NASSCOM report, immersed media represents a huge $ 180 billion market by 2022. Reports suggest immersion media solutions become key players in various industries. Immersion is the result of mixing the physical world with the digital world to produce new environments and visualize physical and digital objects. Immersion technology has a huge impact on the media and entertainment industry and provides players with a platform that allows them to be part of the visual world with real experience without having to be present at any particular place or open space.
COVID-19 Scenario Analysis:
- The emergence of COVID-19 has severely affected almost all industries across the world. Further, lockdown restrictions on movement have disrupted the supply chain across the globe but gave opportunities to the immersive media solutions market.
- In addition, the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, current market forces, and significant interventions of governments are noticeable.
- Furthermore, there are strong indications that the current decrease in demand for technology and digital solutions will be just a short-term phenomenon. In the medium-to-long run, the COVID-19 technology impact may be extremely positive. Everyone is forced to embrace new technologies and discover their benefits. Additional investments in digital infrastructure can be expected to improve the growth of the immersive media solutions market in the future.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increase in Implementation of Immersive Virtual Reality Across Industry Verticals:
Implementing the reality of immersion in various industries such as health care, education, and the media is expected to drive a thriving technology market. Virtual reality allows end users to see the real and imagined world with real-time
guessing. It helps to reduce the costs and risks associated with VR training that allows VR technology to be taken on a straight line in different industries.
Cost-Efficient Benefits of Augmented and Virtual Reality-Based Solutions:
It can be used as a cost-effective and efficient solution to training and skills development, as it mimics real-world situations using realistic and practical enabled solutions. Practical solutions create a virtual environment similar to the real world, where the trainee can understand and face the challenges with a strategic map. In addition, in health care, the participation of individuals in the training of students or nurses, or other medical professionals is wrong and can be dangerous. Therefore, practical and realistic solutions provide valid tools to train medical professionals without compromising and harming human health.
Advancement of AR/VR Technology:
Augmented and virtual reality technologies can be used for cooperative seminars, meetings, public lectures, flight training, and military training, training for nurses and medical professionals, and the self-learning process.
Moreover, to introduce improved products or solutions, key players are expected to emphasize product invention through continuous investment in product development, which further results in the advancement of AR/VR technology.
Key Benefits of the Report:
- This study presents the analytical depiction of the global immersive media solutions market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of global immersive media solutions market share.
- The current market is quantitatively analyzed to highlight the global immersive media solutions market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed global immersive media solutions market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Global Immersive Media Solutions Market Research Report:
- Which are the leading market players active in the immersive media solutions market?
- What would be the detailed impact of COVID-19 on the immersive media solutions market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the immersive media solutions market?
- What are the projections for the future that would help in taking further strategic steps?
Immersive Media Solutions Market Report Highlights
| Aspects | Details |
 By Component Type |
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 By Deployment Type |
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 By Technology Type |
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 By Application |
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 By INDUSTRY VERTICAL |
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 By Region |
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 Key Market Players | SpringboardVR, HTC Corporation, VORTEX, Google LLC, Sony Group Corporation, Zeality, eyeSphere, NCTech Limited, Facebook Technologies, LLC., Microsoft Corporation |
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