North America Immersive Entertainment Market Forecast to 2031 - Regional Analysis - by Component (Hardware and Software & Services), Technology (Virtual Reality (VR), Augmented Reality (AR), Mixed Reality (MR), and Others), and End User (Media & Entertainment, Gaming, Design & Architecture, Retail, Education, and Others)
The North America immersive entertainment market was valued at US$ 33,105.67 million in 2023 and is expected to reach US$ 2,17,769.94 million by 2031; it is estimated to record a CAGR of 26.5% from 2023 to 2031.
Widespread Application of Immersive Technologies Across Entertainment Industry Fuels North America Immersive Entertainment Market
Immersive technologies, from virtual reality (VR) and augmented reality (AR) to mixed reality (MR) and extended reality (XR), offer new possibilities for the entertainment industry. The entertainment industry has seen a rise in the usage of immersive technology, which allows users to fully immerse themselves in virtual environments or engage in novel and fascinating interactions with fictitious characters and tales. In past years, VR systems were bulky and expensive, making them inaccessible to most consumers. Nonetheless, customers have been interested in immersive technology in recent years as VR headsets have become widely available and reasonably priced. People can now explore new worlds and play immersive video games in their living rooms. Companies such as Oculus, HTC Corporation, and Sony have provided VR experiences.
AR and VR continuously produce innovative and groundbreaking solutions for the entertainment industry. Companies in this sector are increasingly coming up with new ideas to make engaging virtual environments to provide an exciting way of entertainment that is engaging enough for audiences. In December 2023, Sony Pictures announced the launch of an immersive indoor entertainment park at Oakbrook Center in Chicago featuring escape rooms, racing simulators, interactive exhibits, VR attractions, bumper cars, and food and drink. The entertainment destination will occupy a 45,000 sq ft retail space. Immersive experiences will be based on hits such as Jumanji, Zombieland, and Ghostbusters, from the studio's movie, TV, and video game franchises. Thus, the widespread application of immersive technologies across the entertainment industry drives the immersive entertainment market growth.
North America Immersive Entertainment Market Overview
North America is one of the fastest-growing regions in terms of technological innovations and adoption of advanced technologies. The region has well-established entertainment and gaming sectors. In recent years, North America has witnessed huge adoption of technologies such as AR, VR, MR, artificial intelligence (AI), and blockchain across all the major industry verticals. With the increasing penetration of digitization in many industries, immersive entertainment has become a vital component of business, especially in the media & entertainment and gaming sectors.
The North America immersive entertainment market is segmented into the US, Canada, and Mexico. The US is expected to have the largest share and record the highest CAGR during the forecast period of 2024 to 2031. The high rate of digitization in various industries, increase in the adoption of digital tools, and high technological spending by government agencies fuel the growth of the US immersive entertainment market. Moreover, the US has a large number of immersive entertainment market players who have been increasingly focusing on developing innovative solutions. Microsoft; Meta Platforms, Inc.; and Google LLC are among the key market players in North America.
North America Immersive Entertainment Market Revenue and Forecast to 2031 (US$ Million)
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North America Immersive Entertainment Market Segmentation
The North America immersive entertainment market is categorized into component, technology, end user, and country.
Based on component, the North America immersive entertainment market is bifurcated into hardware and software & services. The hardware segment held a larger market share in 2023.
By technology, the North America immersive entertainment market is categorized into virtual reality (VR), augmented reality (AR), mixed reality (MR), and others. The virtual reality (VR) segment held the largest market share in 2023.
In terms of end user, the North America immersive entertainment market is categorized into media & entertainment, gaming, design & architecture, retail, education, and others. The media & entertainment segment held the largest market share in 2023.
By country, the North America immersive entertainment market is segmented into the US, Canada, and Mexico. The US dominated the North America immersive entertainment market share in 2023.
Microsoft Corp; Qualcomm Inc; Google LLC; Sony Group Corp; Infosys Ltd; HTC Corp; Samsung Electronics Co Ltd; Apple Inc; Magic Leap, Inc.; and Salesforce Inc are some of the leading companies operating in the North America immersive entertainment market.
TABLE OF CONTENTS
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. North America Immersive Entertainment Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. North America Immersive Entertainment Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Widespread Application of Immersive Technologies Across Entertainment Industry
5.1.2 Increasing Adoption of Digital Transformation Model Among Organizations
5.1.3 Growing Spending on Live Events Worldwide
5.2 Market Restraints
5.2.1 High Cost Associated with Immersive Entertainment Solutions
5.3 Market Opportunities
5.3.1 Advancements in Entertainment Industry
5.3.2 Emergence of Immersive Entertainment in Automotive Industry
5.4 Future Trends
5.4.1 Increasing Adoption of Artificial Intelligence Technology
5.5 Impact of Drivers and Restraints:
6. Immersive Entertainment Market - North America Analysis
6.1 North America Immersive Entertainment Market Overview
6.2 Immersive Entertainment Market Revenue (US$ Million), 2021-2031
6.3 Immersive Entertainment Market Forecast Analysis
7. North America Immersive Entertainment Market Analysis - by Component
7.1 Hardware
7.1.1 Overview
7.1.2 Hardware: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Software and Services
7.2.1 Overview
7.2.2 Software and Services: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
8. North America Immersive Entertainment Market Analysis - by Technology
8.1 Virtual Reality (VR)
8.1.1 Overview
8.1.2 Virtual Reality (VR): Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Augmented Reality (AR)
8.2.1 Overview
8.2.2 Augmented Reality (AR): Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Mixed Reality (MR)
8.3.1 Overview
8.3.2 Mixed Reality (MR): Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
8.4 Others
8.4.1 Overview
8.4.2 Others: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
9. North America Immersive Entertainment Market Analysis - by End User
9.1 Media and Entertainment
9.1.1 Overview
9.1.2 Media and Entertainment: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Gaming
9.2.1 Overview
9.2.2 Gaming: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
9.3 Design and Architecture
9.3.1 Overview
9.3.2 Design and Architecture: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
9.4 Retail
9.4.1 Overview
9.4.2 Retail: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
9.5 Education
9.5.1 Overview
9.5.2 Education: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
10. North America Immersive Entertainment Market - Country Analysis
10.1 North America
10.1.1 North America: Immersive Entertainment Market Breakdown, by Key Countries, 2023 and 2031 (%)
10.1.1.1 North America: Immersive Entertainment Market - Revenue and Forecast Analysis - by Country
10.1.1.2 United States: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
10.1.1.2.1 United States: Immersive Entertainment Market Breakdown, by Component
10.1.1.2.2 United States: Immersive Entertainment Market Breakdown, by Technology
10.1.1.2.3 United States: Immersive Entertainment Market Breakdown, by End User
10.1.1.3 Canada: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
10.1.1.3.1 Canada: Immersive Entertainment Market Breakdown, by Component
10.1.1.3.2 Canada: Immersive Entertainment Market Breakdown, by Technology
10.1.1.3.3 Canada: Immersive Entertainment Market Breakdown, by End User
10.1.1.4 Mexico: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
10.1.1.4.1 Mexico: Immersive Entertainment Market Breakdown, by Component
10.1.1.4.2 Mexico: Immersive Entertainment Market Breakdown, by Technology
10.1.1.4.3 Mexico: Immersive Entertainment Market Breakdown, by End User
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions
13. Company Profiles
13.1 Microsoft Corp
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Qualcomm Inc
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Google LLC
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Sony Group Corp
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Infosys Ltd
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 HTC Corp
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Samsung Electronics Co Ltd
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Apple Inc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Magic Leap, Inc.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Salesforce Inc
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 Word Index
14.2 About The Insight Partners
List of Tables
Table 1. North America Immersive Entertainment Market Segmentation
Table 2. List of Vendors
Table 3. Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Table 4. Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million) - by Component
Table 5. Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million) - by Technology
Table 6. Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million) - by End User
Table 7. North America: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million) - by Country
Table 8. United States: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million) - by Component
Table 9. United States: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million) - by Technology
Table 10. United States: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million) - by End User
Table 11. Canada: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million) - by Component
Table 12. Canada: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million) - by Technology
Table 13. Canada: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million) - by End User
Table 14. Mexico: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million) - by Component
Table 15. Mexico: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million) - by Technology
Table 16. Mexico: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million) - by End User
Table 17. List of Abbreviation
List of Figures
Figure 1. North America Immersive Entertainment Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Immersive Entertainment Market - Key Market Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Immersive Entertainment Market Revenue (US$ Million), 2021-2031
Figure 6. Immersive Entertainment Market Share (%) - by Component (2023 and 2031)
Figure 7. Hardware: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 8. Software and Services: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 9. Immersive Entertainment Market Share (%) - by Technology (2023 and 2031)
Figure 10. Virtual Reality (VR): Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 11. Augmented Reality (AR): Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 12. Mixed Reality (MR): Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 13. Others: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 14. Immersive Entertainment Market Share (%) - by End User (2023 and 2031)
Figure 15. Media and Entertainment: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 16. Gaming: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 17. Design and Architecture: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 18. Retail: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 19. Education: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 20. Others: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 21. North America Immersive Entertainment Market, by Key Countries - Revenue (2023) (US$ Million)
Figure 22. North America: Immersive Entertainment Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 23. United States: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 24. Canada: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 25. Mexico: Immersive Entertainment Market - Revenue and Forecast to 2031 (US$ Million)
Figure 26. Heat Map Analysis by Key Players
Figure 27. Company Positioning & Concentration
- Microsoft Corp.
- Qualcomm Inc.
- Google LLC.
- Sony Group Corp.
- Infosys Ltd.
- HTC Corp.
- Samsung Electronics Co Ltd.
- Apple Inc.
- Magic Leap, Inc.
- Salesforce Inc.
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