IMMERSIVE TECHNOLOGY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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Training and skill development through immersive technologies

Immersive technologies offer compelling advantages for training and developing skills in comparison to conventional methods. AR, VR and mixed reality tools can create incredibly realistic simulations of complex processes and hazardous environments, allowing trainees to learn by doing in a safe, controlled digital space. This hands-on, experiential learning leads to better understanding and stronger retention of material. It also helps train large numbers of people simultaneously on a global, scalable basis. Complex processes that may be difficult, time-consuming or expensive to replicate physically can be easily simulated and practiced virtually.

Another key benefit is the ability to gain experience with rare events or conditions without having to wait for their actual occurrence. Through immersive simulations, medical students can experience treating difficult cases, aircraft technicians can learn to handle emergency scenarios, and utility linemen can practice operating heavy equipment safely in virtually any situation. Immersive technologies also make it possible to visualize and interact with 3D components, systems, and virtual prototypes during product design and development. As the capabilities of these technologies increase further with 5G and edge computing, their potential for transformational training and skills development continues growing exponentially. The demand for immersive solutions from industries worldwide is rapidly rising as a result.

• Acer Inc.
• Apple Inc.
• AVEVA Group Plc
• Barco NV
• Blippar Group Limited
• EON Reality, Inc.
• Google LLC
• HTC Corporation
• Magic Leap, Inc.
• Microsoft Corporation
• NVIDIA Corporation
• Qualcomm Incorporated
• Sony Corporation
• Unity Software Inc.
• Vive Business (HTC Corporation)