The Spatial Computing market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 23.4% during the forecast period, to reach USD 280.5 billion by 2028 from USD 97.9 billion in 2023. An urge for effective disaster recovery, adherence to regulatory compliance and government-led reporting standards across financial organizations, and significant adoption of and embedding of advanced technologies are expected to drive the growth of the global Spatial Computing market.
Major vendors in this market are based in North America, Asia Pacific, and Europe. Some of the key players operating in the Spatial Computing market are – Meta (US), Microsoft (US), Apple (US), Sony (Japan), Qualcomm (US), Google (US), Epson (Japan), Samsung (South Korea), Magic Leap (US), and PTC (US). These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the Spatial Computing market.
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Meta, formerly known as Facebook, is a leading technology company at the forefront of advancements in spatial computing. Spatial computing is an emerging technology that blends the digital and physical worlds, enabling users to interact with digital information and objects in a spatial, three-dimensional context. Meta’s innovations in this field can transform how we perceive and interact with the digital realm. One of Meta’s most notable products in the spatial computing space is the Oculus VR headset, which provides a high-quality virtual reality experience for gaming and other applications. In addition, they are working on augmented reality (AR) glasses, which can overlay digital information onto the physical world, enhancing the user’s everyday experiences. Meta’s spatial computing advancements extend to developing AI-driven technologies that enable realistic simulations and interactive 3D environments. These technologies can potentially revolutionize fields such as education, healthcare, remote work, and entertainment, offering new ways to learn, work, and connect in a digital landscape. In December 2021, Meta launched a closed beta for a simplified AR creation tool called ‘Spark AR Go.’ Meta announced the distribution of its ‘Spark Augmented Reality (AR) Go’ mobile application as a beta version for Android and iOS smartphones. Meta built the mobile application to accompany its spark AR Studio Software Development Kit (SDK). This powerful tool enabled webAR effects and 3D content in its line-up of social media platforms such as Instagram and Facebook.
Microsoft is a significant player in the spatial computing market, leveraging its extensive expertise in software and hardware to make notable advancements in this field. Their HoloLens, a mixed reality headset, is a standout product that showcases their commitment to spatial computing. HoloLens combines augmented reality and virtual reality technologies to overlay digital holograms onto the user’s physical surroundings, creating an immersive and interactive experience. This technology has applications across various industries, from training and education to remote collaboration and enterprise solutions. Microsoft's dedication to developing an ecosystem around mixed reality, including the Microsoft Mixed Reality platform and Azure Mixed Reality Services, underscores its commitment to shaping the future of spatial computing. With a focus on practical applications and developer support, Microsoft is well-positioned to play a significant role in the ongoing evolution of spatial computing. In October 2023, Microsoft successfully acquired Activision Blizzard for USD 68.7 billion. Microsoft had been actively investing in spatial computing with products like HoloLens and Azure Mixed Reality Services services. The acquisition of Activision added dimension to this effort. Activision’s extensive portfolio of popular gaming franchises and intellectual properties, such as Call of Duty, Overwatch, and World of Warcraft, could potentially be integrated into Microsoft’s spatial computing initiatives.
Spatial Computing Market by Technology Type (AR Technology, VR Technology, MR Technology), Component (Hardware, Software, Services), Vertical (Media & Entertainment, Manufacturing, Retail & eCommerce) and Region - Global Forecast to 2028
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