21-Jan-2021 | Zion Market Research
As per research analysts at Zion Market Research, the global spatial computing market is set to expand from USD 22.22 billion in 2019 to USD 196.21 billion in 2026, growing at a CAGR of over 41% during the period from 2020–2026. Moreover, spatial computing providing a seamless machine-to-machine interaction and human-machine interaction in a 3D space along with using AR, VR, and mixed reality is anticipated to drive the market trends. Massive application of spatial computing in healthcare sector for improving patient care will prompt the business growth over the estimated timeline. Apart from this, COVID-19 pandemic has stressed on the requirement for advanced diagnostics systems in healthcare industry. In spite of technological breakthroughs in medicine, the lack of accurate and reliable diagnosis has restricted the recovery of patients and this has resulted in humongous need of spatial computing. This, in turn, is projected to transform & shape the growth of healthcare sector in the coming decade.
Apparently, spatial computing across the dynamic 3D environment handles and optimizes a fleet of automated guided vehicles. Citing instance, automated warehouse functions are cutting-edge instances of spatial computing. A paradigm shift witnessed in technology domain and rise in the need for bringing proficiency in computing techniques is predicted to pave the way for spatial computing market growth in the ensuing years. In addition to this, human mind has emerged in a 3D environment and spatial computing taps into this environment & supports it. Furthermore, spatial computing helps the digital content of data visualizations and mathematical concepts to be investigated in myriad ways and align them with cognitive abilities of human beings.
Thriving 3D Printing Activities & Interaction Technology To Steer Spatial Computing Market Growth By 2026
Large-scale use of spatial computing in 3D printing of any device will create lucrative growth avenues for the spatial computing industry over the ensuing years. In addition to this, large-scale use of spatial computing in the interaction technology and industrial design apart from gaming sector will proliferate the market size in the forthcoming years. With the outbreak of COVID-19 pandemic, spatial computing has garnered high popularity across healthcare and education sectors. It has been used in the online training in various sectors as well as in theme parks. All these aspects will further steer the market trends.
Furthermore, spatial computing is used in hand tracking software, thereby helping the users connect directly with the virtual objects in real-time and offers low latency & high fidelity. It is also used in haptics, yet another form of interaction technology. Spatial computing also finds large-scale application in eye tracking and voice control.
Manufacturing Segment To Make Notable Contribution Towards Overall Market Size By 2026
The application of spatial computing in the manufacturing activities helps in resolving the production, issues enhances workforce efficiency, and brings proficiency in manufacturing activities. U.S. based firms such as PTC Inc. have made use of the spatial computing tool referred by Vuforia Spatial Toolbox that helps in creating, innovating, and solving the complicated problems through developing of interface facilitating spatial hardware programming, connecting & bridging complex machine programming in-situ, and simplifying functionalities & operations of automated guided vehicles. Apart from this, manufacturing units make use of tools empowered with spatial computing for detecting and modifying the discrepancies occurring in the object and thus reducing the chances of occurrence of unfortunate collisions in the production plant.
Apparently, empowering workforce with enhanced spatial capabilities will bring fruitful outcomes. For instance, the interaction of workers with the physical systems in factories can be improved through the use of spatial computing. Furthermore, spatial computing can help in enhancing the productivity of the workers in production plants. Spatial computing is also used in robotics as it provides seamless machine to machine as well as human to machine interaction with the help of AR & VR. Large-scale use of spatial computing in automotive & manufacturing sector will further boost the growth of the spatial computing market over the forecast timeframe.
North America To Make Major Contributions Towards Overall Market Revenue By 2026
The growth of the market in the North American sub-continent over 2020-2026 can be credited to presence of giant players such as Microsoft, Google, and Facebook in the U.S. Moreover, large number of firms in countries like Canada and the U.S. make utilization of spatial computing tools to enhance the customer experience. Citing an instance, PTC Inc. – a U.S. based software firm- make use of Vuforia Spatial Toolbox for not only facilitating effective human-machine connectivity but creating, innovating, and solving complex spatial issues in different ways.
Key players profiled in the report are Microsoft, Amazon, and Magic Leap Limited.
Browse the full “Spatial Computing Market - By Application (Healthcare, Transport, Engineering, Education, Architecture, Manufacturing, Entertainment, And Automotive) And By Region¬–Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2020-2026.” Report at https://www.zionmarketresearch.com/report/spatial-computing-market
The global Spatial Computing market is segmented as follows:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651