The Europe Immersive Analytics Market would witness market growth of 47.3% CAGR during the forecast period (2023-2030).
Immersive analytics can be used to visualize and analyze data produced by sensors and other Internet of Things (IoT) devices as a result of the IoT's growing reach. Businesses could gain real-time information about their operations as a result, which could help them make better decisions based on the data. They can gather information from sensors embedded in various objects, such as appliances, vehicles, wearables, and industrial equipment. This data provides a foundation for immersive experiences by providing real-time information about the physical environment. The blending of IoT with immersive analytics has the potential to completely change how businesses and organizations operate.
A growing demand for advanced analytics tools that can deliver actionable insights is being driven by the increasing amount and complexity of data that is being produced. One method that uses AR and VR technologies to give people an immersive experience while they explore and analyze data is immersive analytics. Users can acquire a deeper understanding of patterns, trends, and correlations that may not be immediately obvious in a 2D interface by seeing data in a 3D format, which improves decision-making.
The European Commission (EC) is supporting innovation and study towards the creation of a European immersive technology ecosystem to defend European ideals. New, useful tools are made available for immersive analytics by technological breakthroughs in fields like 5G/6G, data, edge computing, artificial intelligence, and cloud computing. The EC is also fostering cross-fertilization between domains and disciplines, with an emphasis on businesses and SMEs, to aid Europe in becoming a force in immersive technology. As a result, the market's growth prospects will improve in the years to come due to the quick integration of immersive technology in the region, which will demand more immersive analytics.
The Germany market dominated the Europe Immersive Analytics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $867.9 million by 2030. The UK market is showcasing a CAGR of 46% during (2023 - 2030). Additionally, The France market would experience a CAGR of 48.4% during (2023 - 2030).
Based on Offering, the market is segmented into Hardware (AR/VR/MR Headset, Displays, Sensors & Controllers, and Others), Solution, and Services. Based on End-Use, the market is segmented into Healthcare, Government & Defense, Automotive & Transportation, Construction, Media & Entertainment, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Immersive Analytics Market is Projected to reach USD 13.2 Billion by 2030, at a CAGR of 47.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, Accenture PLC, Google LLC (Alphabet Inc.), SAP SE, Meta Platforms, Inc., HTC Corporation, HP, Inc., Tibco Software, Inc. (Vista Equity Partners), and Magic Leap, Inc.
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