Immersive Technology Research Report 2024: Market to Reach $638.69 Billion in 2028 at a CAGR of 42.5% - Global Long-term Forecast to 2033 [Yahoo! Finance]
KOMATSU LTD S/ADR (KMTUY)
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Source: Yahoo! Finance
The immersive technology market size has grown exponentially in recent years. It will grow from $108.46 billion in 2023 to $154.94 billion in 2024 at a compound annual growth rate (CAGR) of 42.9%. The immersive technology market size is expected to see exponential growth in the next few years. It will grow to $638.69 billion in 2028 at a compound annual growth rate (CAGR) of 42.5%. The growth observed in the historic period can be attributed to advancements in hardware, gaming, and entertainment sectors, an increasing demand for Virtual Reality (VR) head-mounted displays (HMDs), the widespread proliferation of smartphones and Internet of Things (IoT)-connected devices, the emergence of consumer VR, and a growing demand for digitalization across various industries. The anticipated growth in the forecast period can be attributed to the increasing adoption of immersive technology in learning and shopping, the global acceptance of multimedia tools, the rising popularity of esports, e
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