Virtual Reality Software Market 2018 Global Leaders: Honeywell International, Mitsubishi Electric, Siemens AG, Emerson Electric, Schneider Electric SE, Yokogawa Electric, Ametek, Rockwell Automation, Fanuc

Market Research Future published a research report on “Virtual Reality Software Market Research Report - Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Global Virtual Reality Software Market - Overview

Virtual reality is the creation of artificial environment with the help of computer embedded software in which user can feel and interact within the artificial environment. In general, VR environment are based on immersion level which are generally referred to non-immersive, semi- immersive, fully-immersive environments.

The rising technical investments, adoption of VR as marketing strategies by various organizations, demand for VR headsets in the area of gaming and entertainments are primarily driving the market. The compact size and light weight of HMD are the significant reasons that they are being adopted in various applications. Virtual reality offers technology upgrade and cost savings. Virtual reality is changing the scenario of how the entertainment industry is. The technical developments steered to rise of virtual reality movie theatres and virtual reality theme park rides. Virtual reality in theme parks is finding stronger base by offering roller coaster rides. These rides combine a real-world roller coaster with a head-mounted display, in which the visuals can be changed by using animation techniques.

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During the next two to three years, the virtual reality trend will gain momentum as more companies are learning the importance of VR in the global market level. Some technical giants like Oculus and Vuzix are in second or third iteration of product or service design. 5G technology will be a boost to mobile data performance which benefits the virtual reality. Industry experts consider that the onset of 5G technology will reveal the full potential of virtual reality. There will be a lot of data to be processed within the input mechanisms of VR. 5G faster speeds and lower latency helps in bridging the gap between the VR and speed data requirements. Technologists estimate that by implementing 5G in virtual reality helps in improving traffic capacity, network efficiency and decrease latency over 4G.

Industry Updates:

Jan 2018 A virtual reality software which has been made in Western Montana is diagnosing veterans with a disorder often misdiagnosed for PTSD. A novel VR system called Virtual Mind is aiding in diagnosis and treatment vestibular disorder. The test uses multiple sensors and controllers to test visual and auditory reaction time, mobility and working memory, using eight tests that ask the viewer to move through a realistic virtual environment. It also includes tests for eye-tracking and balance.

Jan 2018 Scapic, a Virtual Reality (VR) platform which allows its users to create both VR and augmented reality (AR) content without using coding, has recently raised $500,000 in seed funding from Axilor Ventures, Speciale Invest and Newfort Capital. The start-up company will utilize the funds for product development and research. The company has been promoting itself as the WordPress app for VR and AR content creation, using its web-based content creation tool.

Jan 2018 Notch which specializes in real-time graphics and is a video effects producer, has created a new virtual reality software which fast tracks the making of virtual reality (VR) videos so that the experience can be created in real time, and hopefully make it accessible for the mainstream. Software developed by them are used in two-thirds of all major shows by Beyoncé, U2, Brits, Grammys, The Voice and others use Notch for their live productions.

Key Players

The prominent players in the Virtual Reality Software Market are - Siemens AG (Germany), ABB Ltd. (Switzerland), Emerson Electric Company (U.S.), General Electric Company (U.S.), Schneider Electric SE (France), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Yokogawa Electric (Japan), Ametek, Inc. (U.S.), Rockwell Automation, Inc. (U.S.) and Fanuc (Japan)

Industry Segments

The virtual reality market is divided by deployment into on-premise, cloud. By applications the categorization includes aerospace & defense, gaming & entertainment, diagnostics & surgeries, tourism, others. On the basis of type the market finds itself divided into 3D modelling software, 360 degree custom VR software, and real time simulation in which 3D modelling software is shaping the demand trends of the market. Finally by region into Europe, North America, APAC and Rest of the World.

Detailed Regional Analysis

North America has established its position as the leader in the market for global virtual reality. The European market has the potential to become an important region in the VR market. Companies from china have previously carved out their place in the VR space by creating their own eco-systems, demand, content, platforms etc. to cater to their domestic market.

Global Competitive Analysis

A trend of volume-driven growth has been witnessed in the market of late with the development of different varieties of product types. The sector is undergoing considerable transformation which has accelerated the growth pace of the sector. The industry players in the segment are efficiently utilizing their primary resources to initiate long lasting growth changes. The best long-term growth opportunities for this sector can be harnessed by ensuring ongoing process improvements and maintaining financial flexibility to invest in the optimal strategies. Conversely, with companies aiming to capture a considerable share of the market segment as early as possible, experimentation with various advantage points is being seriously considered and implemented.

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Intended Audience

• Software Developers
• Testing
• Military personnel
• Hospitals
• Entertainment

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