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Spatial Computing Market Trends

Report ID: GMI6775
Published Date: Sep 2023
Report Format: PDF

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Spatial Computing Market Trends

The establishment of spatial computing studios within educational institutions is contributing to the spatial computing industry revenue. These studios serve as hubs for innovation and skill development, nurturing the next generation of spatial computing professionals.

For instance, in August 2023, the Salina Campus of Kansas State University, in collaboration with the Salina Airport Authority and the State of Kansas, announced a partnership with Pure Imagination Studios, based in Hollywood, to establish an advanced spatial computing studio and learning center. This substantial USD 41 million investment represents a significant boost to the infrastructure of K-State's Salina campus and brings the promise of 101 new job opportunities, marking a momentous development for the region.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of spatial computing reached USD 105.9 billion in 2022 and is set to witness 19% CAGR from 2023 to 2032, due to rapid technological advancements, such as more powerful processors, higher-resolution displays, and precise sensors, in spatial computing.

The hardware component segment held over 45% of the market share in 2022, on account of the rising need for high-performance processors, advanced sensors, and immersive displays.

North America accounted for 30% in the market share in 2022, owing to the presence of leading tech companies that are continuously pushing the boundaries of spatial computing hardware and software in the region.

Microsoft Corporation, Google LLC, Meta Platforms, Inc., Apple Inc., Sony Corporation, Intel Corporation, and NVIDIA Corporation are some of the major spatial computing companies worldwide.