(MENAFN - America News Hour) Research Nester released a report titled “Spatial Computing Market : Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global spatial computing market in terms of market segmentation by technology type, end-user and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The spatial computing market is projected to grow with a high CAGR during the forecast period, i.e., 2021-2029 on account of the rising need to improve human-machine and machine-to-machine interaction. High requirement of creating real-world digital solutions with the help of spatial computing is also estimated to drive market growth in the near future.
The market is segmented by technology type into augmented reality, mixed reality, virtual reality, internet of things, and others. Among these segments, the augmented reality segment is anticipated to hold the largest share by the end of 2021 in the spatial computing market as a result of its growing use in including characteristics of digital world into real-world surroundings. It is also gaining worldwide recognition for its increasing usage in business applications.
Request Sample For More Information@
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the spatial computing market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America holds the largest share. This can be attributed to the presence of leading technology providers in the region, especially in the United States, who are extensively involved in the improvement of end-user experience through their adoption of advanced technologies.
Rising Need to Improve Human-Machine and Machine-To-Machine Interaction and High Need for Developing Real-World Digital Solutions to Drive Market Growth
According to the World Bank, the number of individuals using internet globally increased from 0.04 % in 1990 to 48.9% in 2017.
The growth in internet penetration has rapidly led to the advancement of technologies. It has been observed that spatial computing can significantly improve efficiency and quality of work of robots deployed in factories. Additionally, the rising need for developing real-world digital solutions using spatial computing technologies in recent years is also expected to boost the market growth in upcoming years.
However, the difficulties in adopting and deploying new technology and lack of expertise needed for making the spatial computing more immersive are some of the factors that are estimated to restrain market growth in the near future.
Grab PDF Sample For More Information@
This report also provides the existing competitive scenario of some of the key players of the global spatial computing market which includes company profiling of Microsoft (NASDAQ: MSFT), Google, Facebook (NASDAQ: FB), Magic Leap, Vuforia, Amazon (NASDAQ: AMZN), Ford (NYSE: F), IBM (NYSE: IBM), Uber (NYSE: UBER), and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global spatial computing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
About Research Nester
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment, etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
U.S. Phone: [+1 646 586 9123]
U.K. Phone: [+44 203 608 591]
Research Nester is a one-stop service provider, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives to make wise decisions for their future investment and expansion by providing them qualitative market insights and strategies while avoiding future uncertainties. We believe in honesty and sheer hard work that we trust is reflected in our work ethics. Our vision is not just limited to gain the trust of our clients but also to be equally respected by our employees and being appreciated by the competitors.
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.