USD 123.91 billion
Global Spatial Computing Market Size, Share, Growth Analysis, By Component(Spatial Computing Devices (VR Headsets, AR Glasses), By Technology(Augmented Reality, Mixed Reality), By Application(Entertainment, Design and manufacturing), By Industry(Government & Public Sector, IT & Telecom) - Industry Forecast 2024-2031
Report ID:
SQMIG45D2050 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|
Tables:
127 |
Figures:
77
Global Spatial Computing Market Insights
Global Spatial Computing Market size was valued at around USD 123.91 billion in 2022 and is poised to grow from USD 151.86 billion in 2023 to USD 773.12 billion by 2031, at a CAGR of 22.56% over the forecast period (2024–2031).
The market for spatial computing will grow over the coming years due to the growing need to enhance machine-to-machine and interactions between people in the areas of healthcare, housing, and transportation. According to all indications, the massive demand for developing spatial software real-world digital solutions in the engineering, education, architecture, production, entertainment, healthcare, and automotive sectors will expand business trends.
Virtual reality solutions and services had only recently been introduced by businesses, with video streaming platforms and game developers being two prominent examples. However, the quality of the VR experiences offered by the video game developers was either below what was anticipated or the 2D form of video streaming was still in demand.
The discovery of numerous spatial computing applications for a wide range of commercial uses as well as the metaverse, however, are expected to be the main drivers of the market's soaring growth during the forecast period. In the past few years, the cost of VR headsets has dropped, reducing the cost for more individuals to own them and get acquainted with spatial computing.
The development of numerous companies' own unique versions of the metaverse for diverse purposes has also been spurred by the introduction of the metaverse. Spatial computing is now being used by mental health practitioners to treat traumatized people utilizing virtual reality exposure treatment (VERT).
US Spatial Computing Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Augmented Reality
Fastest Growth
Mixed Reality
Growth Rate
22.56% CAGR
Global Spatial Computing Market ($ Bn)
Country Share for North America Region (%)
Global Spatial Computing Market By Technology (%) ($ Bn)
Global Spatial Computing Market By Technology (%)
To get more reports on the above market click here to Buy The Report
Global Spatial Computing Market Segmental Analysis
Global Spatial Computing Market is segmented based on Component, Technology, Application, Industry and region. Based on Component the Spatial Computing Market is segmented into Spatial Computing Devices (VR Headsets, AR Glasses, Hybrid Gear), Computing Software Solutions, Services (Integration and Deployment Services, Support & Maintenance, Consulting Services). Based on Technology, the market is segmented into Augmented Reality, Mixed Reality, Virtual Reality. Based on Application the Spatial Computing Market is segmented into Entertainment, Design and manufacturing, Meetings and interaction, Logistics, Others. Based on Industry the market is segmented into Government & Public Sector, IT & Telecom, Travel & Hospitality, Energy & Utilities, Healthcare, Manufacturing Sification, Others. Based on region the global Spatial Computing Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Spatial Computing Market Analysis by Technology
The market is categorized into groups depending on the technology used, including augmented reality, mixed reality, virtual reality, the internet of things, and others. By the end of 2021, it is predicted that the augmented reality category will hold the largest market share due to its growing application in fusing elements of the digital world into the physical world. Moreover, augmented reality is being rapidly implemented in corporate applications, which is also anticipated to assist the segment's growth throughout the course of the forecast year.
Global Spatial Computing Market By Technology, 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Spatial Computing Market Regional Insights
North America is expected to make a significant contribution more to the growth of the global spatial computing market over the anticipated time frame. The expansion of the region is probably attributable to companies like Google, Facebook, and Microsoft because of their efforts to use spatial computing to improve end-user watching. Regional market trends will be influenced by the application of cutting-edge technology, such as spatial computing and virtual reality, as well as the effective integration of people, processes, and technology, as well as the implementation of best business practices. Several US companies, including Magic Leap, also have this as their goal.
The market in the Asia Pacific region is growing as a result of the increased adoption of AR and VR technologies in China, Japan, South Korea, and India. The proliferation of e-commerce in the region has led to a rise in the use of spatial computing in the retail industry. The market is also predicted to grow as a result of the expanding need for spatial computing in the healthcare and educational industries. Spatial computing is the use of augmented reality, virtual reality, and mixed reality technology to produce interactive and immersive experiences. A variety of businesses, including, for example, those in healthcare, education, retail, and entertainment, are increasingly utilizing spatial computing.
Global Spatial Computing Market By Region , 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Spatial Computing Market Dynamics
Spatial Computing Market Drivers
Demand for Immersive and Interactive Experiences to Bolster Market Growth
- The demand for spatial computing technologies like augmented reality (AR), virtual reality (VR), and mixed reality (MR) is being driven by their ability to provide consumers with immersive and engaging experiences.
- The development of spatial computing technologies, including better hardware and software capabilities, has enabled the development of immersive experiences that are realistic and of a high standard.
- Spatial computing is becoming more prevalent across a range of sectors, such healthcare, education, retail, and entertainment, among others, which is driving market expansion.
Spatial Computing Market Restraints
High Cost of Hardware to Hinder Market Growth
- Many consumers and businesses find it difficult to adopt spatial computing due to the high cost of the necessary hardware, which includes headsets and other devices.
- Despite major advancements, spatial computing technologies continue to face multiple technical issues, such as a small field of view, poor resolution, and incorrect tracking, which can adversely affect the user experience.
- It may be difficult for businesses and consumers to choose the right hardware and software solutions due to the lack of standards in spatial computing technologies.
Request Free Customization of this report to help us to meet your business objectives.
Global Spatial Computing Market Competitive Landscape
Businesses who have technical knowledge in fields such as cloud computing, augmented, virtual, and mixed realities, as well as artificial intelligence, machine learning, and many other areas, may be able to maximize the quality of their spatial computing solutions. Companies either concentrate on developing their operating procedures, developing spatial computing technologies, or developing the software and applications that make use of those technologies.
Spatial Computing Market Top Player’s Company Profiles
- Microsoft Corporation
- Alphabet Inc. (Google)
- Facebook Inc.
- Unity Technologies
- Magic Leap Inc.
- HTC Corporation
- PTC Inc.
- Niantic Inc.
- Ultraleap Limited
- Wikitude GmbH
- 8i Ltd.
- Zappar Limited
- Atheer Inc.
- Blippar Inc.
- DAQRI LLC
- Upskill
- Vuzix Corporation
- Meta Company
- Seebright Inc.
- Scope AR
Spatial Computing Market Recent Developments
- In March 2024, AjnaLens, an Indian company pioneering in Extended Reality (XR) technology, introduced an innovation to redefine the XR landscape at the Game Developers Conference (GDC) 2024, in San Francisco, USA. AjnaHPSC (High Performance Spatial Computing), an XR streaming solution is the most significant breakthrough in XR technology in 10 years.
- In March 2024, cutting-edge augmented reality and machine learning development company DAS Labs innovated the way organizations can utilize spatial computing headsets with a new product: DAS AI Mesh. This product allows developers to ethically circumvent restrictions to devices’ camera feeds set in place by manufacturers, drastically increasing the potential use cases for these technologies.
- In March 2024, ARway.ai, an AI-powered Augmented Reality Experience platform with a disruptive no-code, no beacon spatial computing solution enabled by visual marker tracking with centimeter precision announced the launch of ARway V3.0, a groundbreaking update to its spatial computing platform providing augmented reality navigation and immersive experiences.
Global Spatial Computing Key Market Trends
- Technologies such augmented reality (AR) and virtual reality (VR) are being adopted in growing industries such healthcare, retail, manufacturing, and education to boost productivity, improve consumer experiences, and develop immersive learning environments.
- The increasing use of AR and VR technologies is driving a rapid rise in demand for smart glasses and headsets. These devices are used in a variety of industries for maintenance, training, and remote help reasons.
- The development of more complex and immersive AR and VR experiences is being driven by ongoing improvements in hardware and software technologies, including developments in sensors, displays, and algorithms.
- Startups are trying to cut solutions for numerous industries as the spatial computing market draws major investment from venture capitalists and other investors.
- The development of more intelligent and interactive AR and VR applications that can respond to real-world data and deliver personalized experiences is made possible by the integration of AI and IoT technologies with spatial computing.
Global Spatial Computing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Spatial Computing market is the market for spatial computing will grow over the coming years due to the growing need to enhance machine-to-machine and interactions between people in the areas of healthcare, housing, and transportation. According to all indications, the massive demand for developing spatial software real-world digital solutions in the engineering, education, architecture, production, entertainment, healthcare, and automotive sectors will expand business trends. Many consumers and businesses find it difficult to adopt spatial computing due to the high cost of the necessary hardware, which includes headsets and other devices. The development of more complex and immersive AR and VR experiences is being driven by ongoing improvements in hardware and software technologies, including developments in sensors, displays, and algorithms. The development of more intelligent and interactive AR and VR applications that can respond to real-world data and deliver personalized experiences is made possible by the integration of AI and IoT technologies with spatial computing.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 123.91 billion |
| Market size value in 2031 | USD 773.12 billion |
| Growth Rate | 22.56% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Spatial Computing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Spatial Computing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Spatial Computing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Spatial Computing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Spatial Computing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Spatial Computing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Spatial Computing Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
