Modern Internet, also termed Web 3.0, utilizes a suite of advanced technologies that render computers increasingly invisible. It is done by integrating the user interface (UI) into the physical environment. Spatial computing technology seamlessly integrates computers into the environment by utilizing human’s natural spatial capabilities to increase productivity.
Spatial computing is anticipated to dramatically change daily activities and has already had a huge influence on how people live. A simple example of the spatial computing revolution is social media location tagging. While it may be considered as a basic component of any social media post, it presents a robust context to users through location-specific information and generates insights about target audiences. Using a vehicle or phone’s Global Positioning System (GPS) system is another example of the technology revolution.
In many cases, the power that these technologies can offer increases when they operate in synergy with one another rather than in isolation. To address this, Institute of Electrical and Electronics Engineers (IEEE) protocol for Web 3.0, aka the Spatial Web/metaverse, was released. It offers technical standards for these technologies to communicate with each other in an organized and harmonious way.
The report includes growth prospects in light of current spatial computing market trends and driving factors influencing the market growth. The global market is experiencing extensive growth and is estimated to continue expanding in the coming years. Spatial computing can be termed as the digitization of actions involving machines, objects, people, and the environments in which they occur, for enabling and optimizing actions and interactions. The technology contains the potential to digitally transform how industrial enterprises optimize operations for frontline workers in factories, worksites, and warehouses and to enable digitally augmented dimensional context for enterprise actions and interactions. Over the past few years, there have been advancements in the technologies, such as artificial intelligence (AI), machine learning (ML), natural language processing (NLP), camera sensors, computer vision, Internet of Things (IoT), virtual reality (VR), augmented reality (AR), mixed reality (MR), and extended reality (XR), that are making spatial computing possible. The spatial computing market forecast is estimated by considering all such trends, along with various secondary and primary research findings.
Current software and available technology have lifted rendering from being limited to computer enthusiasts to a rapidly expanding field that includes architects, artists, developers, engineers, and others. Despite certain limits to the technology, professionals constantly perform research on integrations of various multivariate technologies to ensure mainstream rendering and visualization. The applications of AI to aid in the rendering process are gaining ground in the field of architectural visualization. Without the need for manual optimization, users can utilize ML algorithms and deep neural networks (DNN) to generate more lifelike and nuanced visualizations. With the help of AI, the rendering process can be further fine-tuned to improve speed and efficiency. Such advancements contribute to the growing spatial computing market size.
Key segments that contributed to the derivation of the spatial computing market analysis are component, technology, and end user.
The spatial computing market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the spatial computing market:
(Source: Cromwell Hospital, Press Release)
(Source: Meta, Press Release)
The regional trends and factors influencing the Spatial Computing Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Spatial Computing Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 86.52 Billion |
| Market Size by 2030 | US$ 407.20 Billion |
| Global CAGR (2022 - 2030) | 21.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Spatial Computing Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Spatial Computing Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The "Spatial Computing Market Size and Forecast (2022–2030)" provides a detailed analysis of the market covering the areas mentioned below:
The List of Companies - Spatial Computing Market
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Asia Pacific is anticipated to grow with the highest CAGR over the forecast period.
North America held the largest market share in 2022, followed by Europe and Asia Pacific.
The software segment held largest market share in 2022, and is expected to grow with the highest CAGR during the forecast period 2023-2030.
The key players, holding majority shares, in spatial computing market includes Autodesk Inc, Alphabet Inc, Adobe Inc, Meta Platforms, and HTC.
The spatial computing market was valued at US$ 86.52 billion in 2022 and is expected to grow at a CAGR of 21.4% during 2022–2030.
Integration of blockchain in spatial computing software is expected to be a key future trend of the spatial computing market.
Factors such as advancements in real-time rendering engines and applications in the aerospace sector are driving the spatial computing market growth.