Home > Media & Technology > Media and Entertainment > Audio Video > Immersive Analytics Market

Immersive Analytics Market Trends

Report ID: GMI10135
Published Date: Jul 2024
Report Format: PDF

Download Free Sample

Immersive Analytics Market Trends

There is a noticeable trend in the immersive analytics industry toward Mixed Reality (MR) applications. By combining aspects of VR and AR, MR offers improved data visualization capabilities by creating immersive virtual spaces for data interaction or overlaying digital information onto the real world. The development of MR technology has enabled users to explore and analyze big datasets in more engaging & natural ways, which is driving this trend. MR is used in a variety of industries, including healthcare, manufacturing, and architecture, for tasks such as immersive training simulations & real-time data monitoring.

With increasing sophistication and accessibility, MR technologies have the potential to revolutionize the way businesses display and extract insights from its data. For instance, in October 2023, Microsoft announced updates to its HoloLens platform, enhancing MR capabilities for immersive data visualization in enterprise applications including healthcare and engineering sectors.

The use of AI-driven solutions to improve data analysis and visualization capabilities is a key trend influencing the immersive analytics market. Immersion analytics solutions incorporate AI technology, such as natural language processing and ML, to automate data insights, enhance visualization methods, and provide predictive analytics features. This trend allows real-time analysis and practical insights, addressing the increasing volume and complexity of data.

Businesses in various industries are using AI-driven immersive analytics to enhance consumer engagement, operational efficiency, and the decision-making procedures. AI-driven immersive analytics are fueling innovations and competition in the digital age by providing users with sophisticated data exploration tools and prediction capabilities. For instance, in February 2024, Salesforce introduced Einstein Analytics VR, integrating AI-powered predictive analytics into its VR data visualization platform, enabling businesses to explore and understand data in new immersive ways.

Authors: Suraj Gujar, Rutvij Kshirsagar

Frequently Asked Questions (FAQ) :

The market size of immersive analytics reached USD 855 million in 2023 and is set to witness over 46% CAGR between 2024 and 2032, due to the ability of immersive analytics to superimpose digital data on the physical world.

The hardware segment is expected to reach over USD 13 million by 2032, owing to the rising demand for high-resolution screens and sophisticated sensors for monitoring user activity.

Asia Pacific market accounted for over 33% revenue share in 2023, attributed to the rapid adoption of advanced technologies and substantial investments in innovation across the region.

Google LLC, International Business Machines Corporation (IBM), Microsoft Corporation, QlikTech International AB, SAP SE, SAS Institute Inc., and Tableau Software, LLC (a Salesforce company).