Spatial computing

Chronicle

2022: Global Spatial Computing Market Size Reaches $57.2 Billion for the Year

At the end of 2022, the global space computing market reached approximately $57.2 billion. This segment is developing rapidly, and one of the key drivers of the industry is virtual (VR), augmented (AR) and mixed (MR) reality technologies. This is stated in a study by BCC Research, the results of which were published in January 2024.

Spatial calculations involve working with three-dimensional spatial structures. This allows you to consider geometric properties of objects, such as location, shape, and size. Data is collected using input devices, analyzed and processed using machine learning. In fact, spatial computing combines the digital and physical worlds through AR/VR/MR. This opens up new opportunities in areas ranging from gaming and entertainment to education and healthcare.

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Geographically, the largest market for spatial computing in 2022-2023 is North America, which accounts for about 32% of total costs. The region is home to leading industry enterprises and research centers. Among the significant market players named Microsoft, Google, Apple, Meta (recognized as an extremist organization; activities in the Russian Federation are prohibited) and Magic Leap. At the same time, the highest growth rates are observed in the Asia-Pacific region, where a high level of penetration of smartphones creates a favorable environment for the introduction of mobile spatial computing applications.

Analysts at BCC Research predict that the market will continue to grow rapidly. The CAGR (compound percentage CAGR) from 2023 to 2028 is expected to be 17.9%. As a result, by the end of the period under review, the volume of the industry will reach $150.5 billion.^[1]

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