PUBLISHER: Grand View Research | PRODUCT CODE: 1588665
PUBLISHER: Grand View Research | PRODUCT CODE: 1588665
The global immersive technology market size is expected to reach USD 169.88 billion by 2030, expanding at a CAGR of 27.9% from 2025 to 2030, according to a new report by Grand View Research, Inc. Over the past few years, these technologies have found extensive applications in various notable sectors, such as gaming, healthcare, education, and construction, among others.
Governments around the world have recognized the potential of immersive technology to boost economic growth, increase productivity, and improve infrastructure. A notable example is the "Digital India" initiative of the Government of India. The developing process of transforming India into a digitally empowered nation has led to a massive adoption of this technology. Government focus on fostering innovation and digitization has led to increased visibility and application of VR & AR solutions in sectors such as education and healthcare.
Governments are incorporating immersive technology solutions in education to transform learning experiences. Projects such as the "EdTech Mission" in Singapore aim to integrate VR and AR solutions in classrooms to provide students with interactive and engaging educational content. This not only increases subject understanding but prepares students for a technology-driven future. Moreover, in manufacturing, the government uses this technology to increase efficiency and safety of operations.
Germany's "Industry 4.0" initiative encourages the integration of virtual and augmented reality into production processes. This has led to the creation of smart workstations where employees use AR glasses to capture items. Besides this, the establishment of such smart workplaces has also enabled employees to access real-time feedback, thus improving accuracy of processes and reducing errors.