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What is the consumer market size for immersive technology?

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Augmented or you say extended reality technology made a huge wave and created a space of its own to let the generation experience something beyond its own reality.

The immersive technology leveraging the 360 space enables the users to look in any direction or see content in its own user’s environment.

The different types of immersive technology are 360, VR, AR, MR, and XR.

The global consumer market for AR/VR spending is forecasted to be 7 billion US dollars. The forecasted share of global AR/VR in the consumer segment is 37.4%.

The market size predicted till 2023 in virtual reality, mobile augmented reality, or augmented/mixed reality headsets are showing impressive results. The market is a billion-dollar value and is estimated to have the upper hand in the technology segment.

Immersive technology for consumer virtual reality
Immersive technology for consumer augmented reality
Immersive technology for mixed reality headsets

The techy guys or the tech enthusiastic guys definitely are cherishing the new innovation. A complete experience in your own space is also helpful for disabled or handicapped people to experience reality in a closer way in the digital environment.

However, in my opinion, children need to be restricted from being addicted to such a digital environment. These sets of technologies are an individual experience and not something two users can collaborate to enjoy together. It’s definitely one of the coolest gadgets. The experience is also expensive and leveraged by only one group of people.

Source:- SuperData Research, IDC

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