Industrial Metaverse Market (Component - Software, Hardware, and Service; Technology - AR, VR, and MR; Application - Product Design & Development, Virtual Prototyping, Training & Simulation, Remote Collaboration, Maintenance & Repair, Supply Chain Optimization, and Data Visualization & Analytics; End-use - Automotive, Logistics & Transportation, Manufacturing, Energy and Utilities, Healthcare, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

Industrial Metaverse Market (Component - Software, Hardware, and Service; Technology - AR, VR, and MR; Application - Product Design & Development, Virtual Prototyping, Training & Simulation, Remote Collaboration, Maintenance & Repair, Supply Chain Optimization, and Data Visualization & Analytics; End-use - Automotive, Logistics & Transportation, Manufacturing, Energy and Utilities, Healthcare, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

Report Code: IGR01448 Category: Electronics, ICT & Semiconductors Published: February, 2024

A recent report published by Infinium Global Research on industrial metaverse market provides in-depth analysis of segments and sub-segments in the global as well as regional industrial metaverse market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional industrial metaverse market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global industrial metaverse market.

Market Insight:

The global industrial metaverse market was valued at USD 18.76 billion in 2022 and is expected to reach USD 178.12 billion in 2030, with a CAGR of 32.5% during the forecast period 2023-2030.

The industrial metaverse is transforming corporate operations by establishing virtual, networked environments that improve productivity, innovation, and teamwork in industrial sectors. This immersive digital technology environment mimics real-world industrial processes, training scenarios, and product designs by combining Augmented Reality (AR) and Virtual Reality (VR) technologies. Businesses optimize complex manufacturing processes, and conduct virtual training sessions, and stimulate operational workflows in this dynamic metaverse. The continual digital transformation of global industries is substantially driving the growth of the industrial metaverse market. The key players are increasingly exploring techniques to incorporate and visualize data, streamline processes, and improve collaboration by utilizing technologies like IoT, AI, VR, and augmented reality (AR). The industrial metaverse finds application in collaboration and communication among teams, innovative advertising, hosting virtual events, offer easier transaction options.

The primary driver for the industrial metaverse is the adaptation of increased operational productivity with immersive digital technologies. Industries are adopting the metaverse to simulate and improve sophisticated processes, facilitate remote collaboration, and train personnel in realistic virtual environments. The features of metaverse like reduced costs, minimize downtime, and enhance overall productivity plays vital role in technological adaptation. The industrial metaverse acts as a novel tool, enabling businesses to visualize, evaluate, and streamline their operations in ways previously unattainable. Further, Industries are starting to embrace the potential of the industrial metaverse as a means of increasing efficiency and competitiveness in a digital landscape known to rapid evolution. Additionally, the increase in the adoption of digital twin technologies is also fueling the growth of the industrial metaverse market. Digital and physical worlds are seamlessly integrated, as exemplified by the industrial metaverse, where real-time interactions between people, computers, data, and processes occur in both virtual and physical environments. Digital twins act as dynamic substitutes for real-world systems, procedures, and resources in this regard. By developing simulations of actual systems or objects, twin technology facilitates modeling, design, analysis, and optimization. Advances in cloud computing, artificial intelligence (AI), the Internet of Things (IoT), and extended reality (ER) are responsible for this technology's growing popularity of metaverse. However, limited integration and uniformity are a barrier pose a restraint for the industrial metaverse market. Moreover, the production and deployment of cutting-edge, real-time analytics and monitoring systems across a single-line creates an opportunity for growth in the market.

Global industrial metaverse market Size, Share, Trends, Indu | IGR

North America is projected to hold the largest market share in the upcoming forecast period. North America has been a dominant force due to its a robust ecosystem of tech companies with significant technological advancement, and a strong technological framework. The presence of major industrial players, coupled with a proactive approach toward adopting advanced technologies, positions North America at the forefront of the industrial metaverse market. Meanwhile, the Asia-Pacific region is the fastest-growing industrial metaverse market, driven by a number of factors. The factors like intense technology infrastructure, expanding manufacturing sector, and a proactive government initiative in countries like China, Japan, and South Korea contribute to the region's accelerated adoption. Further, growing need for innovation, cost-cutting, and operational efficiency in industries such as automotive, electronics, and healthcare fuels the rapid expansion of the industrial metaverse. The integration of virtual and physical industrial processes is facilitated by a dynamic workforce, which drives market growth.

Report Scope of the Industrial Metaverse Market:

Report Coverage Details
Market Size in 2022 USD 18.76 Billion
Market Size by 2030 USD 178.12 Billion
Growth Rate from 2023 to 2030 CAGR of 32.5%
Largest Market North America
No. of Pages 300
Market Drivers
  • The pursuit of enhanced operational efficiency through immersive digital technologies is driving the growth of the industrial metaverse market.

  • The rise in the adoption of digital twin technologies is driving the growth of the industrial metaverse market.

Market Segmentation By Component, By Technology, By Application, and By End-use
Regional Scope North America, Europe, Asia Pacific, and RoW

Segment Covered

The report on global industrial metaverse market covers segments such as component, technology, application, and end-use. On the basis of component, the sub-markets include software, hardware, and service. On the basis of technology, the sub-markets include ar, vr, and mr. On the basis of application, the sub-markets include product design & development, virtual prototyping, training & simulation, remote collaboration, maintenance & repair, supply chain optimization, and data visualization & analytics. On the basis of end-use, the sub-markets include automotive, logistics & transportation, manufacturing, energy and utilities, healthcare, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Microsoft Corporation, Bentley Systems, Inc., Dassault Systems SE, HTC Corporation, NVIDIA Corporation, PTC Inc, Siemens AG, Unity Software Inc., Schneider Electric group., and GE DIGITAL.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the industrial metaverse market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


Frequently Asked Questions (FAQ's)

The global industrial metaverse market was valued at USD 18.76 Billion in 2022.
It is likely to grow at a CAGR of 32.5% during the forecast period 2023-2030.
The global industrial metaverse market is estimated to reach USD 178.12 Billion by the end of 2030.
North America is anticipated to exhibit high demand for industrial metaverse market during the forecast period.
Microsoft Corporation, Bentley Systems, Inc., Dassault Systems SE, HTC Corporation, NVIDIA Corporation, PTC Inc, Siemens AG, Unity Software Inc., Schneider Electric group., and GE DIGITAL.
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