The Asia Pacific Immersive Analytics Market would witness market growth of 49.0% CAGR during the forecast period (2023-2030).
Users of the health sector have options currently available due to the convergence of immersive technology trends and artificial intelligence, which will alter many of their current experiences. The demand for tools that allow for interactive, adaptable, and integrative big data visualization is rising as the variety of health data keeps expanding. Immersive technology is created to provide seamless interactions between people and machines and incorporate additional senses, such as sound, over traditional data visualization techniques. Revolutionary data visualization tools become even more efficient at analyzing complex data when AI is incorporated.
Immersive analytics uses tools like machine learning, natural language processing, and data visualization to process large amounts of data and derive valuable insights. The Internet of Things (IoT), cloud computing, and immersive analytics are all new technologies that are being merged. This integration accelerates market growth by offering real-time data processing, predictive analytics, and seamless data sharing, enhancing the possibilities of immersive analytics.
China announced a plan to advance the immersive technology sector's growth in 2022, intending to increase the size to over 350 billion yuan (about $49.4 billion) by 2026. In addition to increasing VR sales to over 25 million units, the plan seeks to create 100 leading businesses with significant market influence and excellent innovation capabilities. Hence, similar developments throughout the region are aiding in expanding the market.
The China market dominated the Asia Pacific Immersive Analytics Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $956.2 million by 2030. The Japan market is poised to grow at a CAGR of 48% during (2023 - 2030). Additionally, The India market would display a CAGR of 49.9% during (2023 - 2030).
Based on Offering, the market is segmented into Hardware (AR/VR/MR Headset, Displays, Sensors & Controllers, and Others), Solution, and Services. Based on End-Use, the market is segmented into Healthcare, Government & Defense, Automotive & Transportation, Construction, Media & Entertainment, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Immersive Analytics Market is Projected to reach USD 13.2 Billion by 2030, at a CAGR of 47.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, Accenture PLC, Google LLC (Alphabet Inc.), SAP SE, Meta Platforms, Inc., HTC Corporation, HP, Inc., Tibco Software, Inc. (Vista Equity Partners), and Magic Leap, Inc.
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