Spatial Computing Market To Be Dominated By Rapid Adoption Of Cloud-Based Services Through 2028
The market is expected to grow due to the increasing popularity of
spatial computing in the automotive industry during the forecast period,
2024-2028.
According to
TechSci Research report, “Spatial Computing Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028”, The global spatial
computing market is expanding due to advancement in technology and the
increased internet usage. Spatial computing has been demonstrated to
considerably increase the productivity and quality of services done by
industrial robots. The increasing demand for effective strategy digital
solutions employing spatial computing technologies in recent years is also
anticipated to accelerate market expansion in the coming years.
The metaverse and other
industrial applications of spatial computing are driving the market for this
technology's growth. Over the past few years, VR headset costs have decreased. Moreover,
the introduction of the metaverse has inspired several businesses to develop
their own unique versions of the metaverse for a variety of purposes. Spatial
computing is becoming more prevalent as mental health practitioners begin to
treat patients with trauma utilizing VR exposure treatment (VERT).
The interaction with
objects, people and goals in the actual world is mirrored in spatial
computing. Humans interpret objects in the world, create a 3D representation of
the world from the 2D images from our eyes, and then command our hands to do an
action. As an illustration, when we pour a cup of tea, we observe the cup as we
pour, judge when the cup is full, and then stop pouring. The same is
accomplished by spatial computing, except it uses sensors, processors, and
actuators.
Industries that entail moving
and manufacturing physical goods are being completely transformed by spatial
computing. Moreover, it helps in enhancing how offices and other facilities are
used and managed. Furthermore, the operation and user experience of physical
items are being improved through the usage of spatial computing.
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Figures spread through XX Pages and an in-depth TOC on the "Global Spatial Computing Market"
On the basis of type, the
market is further segmented into component, technology, application, industry,
and region. On the basis of component, the market is further divided into
hardware, software, and services. On the basis of technology, the market is
further split into augmented reality, mixed reality, and virtual reality. Based
on application, the market is further divided into entertainment, design and
manufacturing, meetings and interaction, logistics, and others. On the basis of
industry, the market is further split into BFSI, government & public
sector, IT & telecom, travel & hospitality, retail, energy &
utilities, healthcare, manufacturing, education, and others. On the basis of
region, the market is divided into North America, Europe, Asia-Pacific, South
America, and Middle East & Africa.
Based on component, the software
segment dominated the spatial computing market in 2022 and is expected to
maintain its dominance during the forecast period. The main element of spatial
computing is the software. The significance of the spatial computing
application on smartphones serves as an analogy to highlight the significance
of software solutions. Examples of this software include various video games
and the metaverse, which can even inspire manufacturers to modify the hardware
of their spatial computing products.
Based on technology, the mixed
reality segment dominated the spatial computing market in 2022. Mixed
reality can enable the placement of virtual and interactive items in the user's
environment that only they or a select group of users can engage with using
their spatial computing equipment. The use of technology can make working from
home more effective and even enable businesses to move all of their operations
and responsibilities entirely into a virtual setting. Several sectors can
benefit from improved manufacturing and design processes thanks to mixed
reality, and this technology can also be utilised to create games that are
tailored to the environment it creates.
Key market players in the global
Spatial Computing market include:
- Microsoft Corporation
- Google LLC
- Meta Platforms, Inc.
- PTC Inc. (Vuforia)
- Amazon.com, Inc.
- Ford Motor Company
- IBM Corporation
- Sony Group Corporation
- NVIDIA Corporation
- Magic Leap Limited
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“North America region
anticipates a substantial growth rate during the forecast period. rising
investment in US is The market is growing owing to the increasing investment in
the US . Moreover, the existence of well-established businesses in the US, such
as Google, Meta, Magic Leap, and Microsoft, is credited with the expansion.
These companies are attempting to leverage spatial computing to improve the end
user viewing experience. Moreover, the US market is the one that changes and is
most competitive globally. In addition, the region is projected to absorb new
technology more quickly than other nations throughout the world.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Spatial Computing Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028, Segmented, By Component (Hardware,
Software, Services), By Technology (Augmented Reality, Mixed Reality, Virtual
Reality), By Application (Entertainment, Design and Manufacturing, Meetings and
Interaction, Logistics, Others), By Industry (BFSI, Government & Public
Sector, IT & Telecom, Travel & Hospitality, Retail, Energy &
Utilities, Healthcare, Manufacturing, Education, Others), By
Region, Competition, Forecast & Opportunities, 2028F”, has
evaluated the future growth potential of spatial computing and provides statistics and information on market structure,
size, share, and future growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the global Spatial
Computing market.
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