Market Research Future (MRFR) has published a cooked research report on the “Global Immersive Technology in Military & Defense Market” that contains information from 2018 to 2032. The Immersive Technology in Military & Defense market is estimated to register a CAGR of XX% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global immersive technology in military & defense market— Acer Inc., Atheer, Inc., AVEVA Group PLC, Barco NV, Blippar Ltd., Carl Zeiss AG,CM Labs Simulations Inc., EON Reality, Inc., FAAC Incorporated, Google, LLC,HCL Technologies Limited, Honeywell International, Inc., HTC Corporation, Immersive Media Company, Immersive Technologies Pty Limited, Lockheed Martin Corporation, Magic Leap, Inc., NCTech Limited, Oculus (Facebook Technologies, LLC.), Samsung Group, Sony Corporation, Unity Software Inc., Varjo Technologies Oy, VI-grade GmbH, and Zeality Inc.
The global immersive technology in military & defense market is accounted to register a CAGR of XX% during the forecast period and is estimated to reach USD XX Billion by 2032.
Immersive technology is transforming military training, mission planning, and situational awareness. VR and AR applications are enhancing defense capabilities by offering realistic training scenarios and advanced data visualization.
The global immersive technology in military & defense market has been segmented into component, technology, and application.
On the basis of component, the market is segmented into Hardware (Head-Mounted Display (HMD), Gesture Tracking Devices (GTD), Projectors & Display Walls (PDW)), Software/Platform, Services (Professional and Managed). The hardware segment dominated the market in 2022. Better Training and Safety – HMDs provide miners with immersive training experiences that allow them to practice risky activities and emergency procedures in a risk-free virtual world, enhancing safety and lowering accidents.
Based on technology, the global immersive technology in military & defense market has been segmented into Mixed Reality (MR), Virtual Reality (VR), Augmented Reality (AR) and 360 Film. The Augmented Reality (AR) segment dominated the market in 2022. The category for augmented reality (AR) brought in the most money, 40%. The dominance of this subsegment indicates how immersive technologies, which have gained widespread adoption, have a significant positive impact on safety, training, equipment maintenance, and decision-making in the mining industry.
Based on application, the global immersive technology in military & defense market has been segmented into Training & Learning, Emergency Services, Product Development and Sales & Marketing. The Training & Learning segment dominated the market in 2022. The dominance of the Emergency Response Simulation subsegment within Emergency Services applications is due to the need to prepare miners and emergency responders for risky situations. Immersive simulations offer a platform for training emergency response teams to make quick and informed decisions during crises, potentially saving lives and minimizing damage.
The global immersive technology in military & defense market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Immersive Technology in Military & Defense market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Immersive Technology in Military & Defense market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Immersive Technology in Military & Defense market comprises of Middle East, Africa, and Latin America.
North America immersive technology in military & defense market dominated this market in 2022 (45.80%). North America, which has a significant defense budget and a keen interest in military innovation, is led by the United States. The region has been a pioneer in putting state-of-the-art immersive technology to use in training, simulation, and operations.
Moreover, the market share occupied by Europe's immersive technology in military & defense is second-largest. European nations place a high priority on collaborative defense initiatives, pushing the use of immersive technology for international cooperation as well as joint military training and exercises. The European Union's funding in defense research also encourage innovation.
Additionally, The Asia-Pacific immersive technology in military & defense market is expected to grow at the fastest CAGR from 2023 to 2032 Geopolitical disputes in the Asia-Pacific area have an impact on investments in military capability. More and more nations in this region are implementing immersive technologies to boost military readiness, border security, and responsiveness to local issues.
Furthermore, the rest of the world's immersive technology in military & defense market is divided into the Middle East, Africa, and Latin America. Immersive technology is transforming military training and situational awareness in Latin America, offering realistic training scenarios and advanced data visualization, bolstering defense capabilities across the region.
Key Findings of the Study