Market Overview: Global Virtual Reality (VR) in Automotive Market
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Virtual Reality (VR) in Automotive Market Insights 2022-27
The Global Virtual Reality in Automotive Industry is projected to witness around 41.32% CAGR during the forecast period, i.e., 2022-27.
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Top Players in the Virtual Reality (VR) in Automotive Market:
4Experience
Continental AG
Google LLC
HTC Corporation
Microsoft Corporation
NEXT/NOW
Oculus Rift (Facebook Inc.)
OmniVirt
Onboard
Robert Bosch GmbH
Sensorama, Inc.
Unity Technologies
Veative Labs Ltd.
Visualise Creative Limited (VCL)
ZeroLight Limited
Others
Segmentation Analysis of Virtual Reality (VR) in Automotive Market
Virtual Reality (VR) in Automotive Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2022-27, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
-By Application
Designing & Prototyping
Training
Virtual Showrooms
Research & Development
Of them all, the Design & Prototyping application is projected to attain the largest market share, owing principally to the capabilities of VR to reduce the production time & money by replacing the complicated process of building bulky physical prototypes with virtual prototyping. In addition, advantages like simplified research & development, fewer adjustment rounds, and quicker design process playing a crucial role in reducing the costs of the entire pre-manufacturing cycle are other crucial factors attributing to the mounting demand for Virtual Reality in vehicle design & prototyping.
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-By Component
Hardware
Software
Content
-By Technology
Non Immersive
Semi Immersive
Fully Immersive
-By Device Type
Head-Mounted Display
Gesture-Tracking Device
Projectors & Display Wall
A Comprehensive Geographical Analysis:
-By Region
North America
Europe
South America
Asia-Pacific
Middle East & Africa
North America accounts for the largest market share through 2027, where the US shall witness the fastest market growth, primarily due to the active participation of prominent market players through substantial investments in the technological advancements of virtual reality.
One of the most popular automakers in the US, Ford, uses HoloLens (mixed reality headset) developed by Microsoft that enables quick prototyping in the virtual environment. Using HoloLens, automotive designers can combine virtual & physical designs of cars, which immensely saves their time for making & reviewing the required changes. Hence, such an initiative shall create significant growth opportunities for the market players across North America.
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