Press release
Virtual Reality in Manufacturing Market Size, Share, Growth Statistics, and Trending Opportunities by 2026 | Groove Jones LLC, NVIDIA Corporation, WorldViz, EON Reality Inc, Samsung, Sony, Microsoft, Virtuix, NextVR Inc.
Virtual Reality in Manufacturing Market
To get a competitive edge in the industry, top suppliers are focusing on providing high-quality, economical, and new technologies employing existing materials. Leading producers compete in terms of price, quality, design, and aftermarket support. The competition is increasing and getting better thanks to technological know-how and investments made through partnerships and agreements.
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Virtual Reality in Manufacturing Market Size Projections:
The Virtual Reality in Manufacturing Market in terms of revenue was estimated to be worth USD 924.7 million in 2018 and is poised to reach USD 14,887.0 million by 2026, growing at a CAGR of 39.2% from 2023-2026 according to a new report by Fortune Business Insights.
Objectives of the Report
To carefully analyze and forecast the size of Virtual Reality in Manufacturing Market by value and volume.
To estimate the market shares of major segments of the Industry
To highlight the development of the Virtual Reality in Manufacturing Market in different parts of the world.
To analyze and study micro-markets in terms of their contributions, prospects, and individual growth trends.
To offer precise and useful details about factors affecting revenue growth over the forecast period.
To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Virtual Reality in Manufacturing Market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.
Top Virtual Reality in Manufacturing Market Size Manufacturers covered in the Market Report include:
Groove Jones LLC
NVIDIA Corporation
WorldViz
EON Reality Inc
Samsung
Sony
Microsoft
Virtuix
NextVR Inc.
Magic Leap Inc.
Facebook Technologies, LLC
HTC Corporation
Unity Technologies
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Virtual Reality in Manufacturing Market Drives:
Rising Demand for Minimizing Operational Cost Will Aid in Expansion of Market
Some of the driving factors for the Virtual Reality in Manufacturing Industry are growing demand from manufacturers for minimizing operational cost, increase automation, predictive maintenance, and quality control and emergence of advanced technologies such as Industry 4.0, digital twin, artificial intelligence and IoT.
Manufacturers across all sectors are increasingly demanding quality control, increasing automation, minimized operational cost, and predictive maintenance. This propels the demand for Visual Reality applications in production companies. To cite an instance, VR skylight platform and VR smart glasses are used by Boeing for guiding technicians with their viewfinder, thus helping the company to lessen their wiring construction time by 25%. Such innovative technologies applied to ease manufacturing processes are likely to positively contribute to the virtual reality in manufacturing industry growth in the forthcoming years.
Additionally, massive investments in advanced solutions for virtual reality technology by economically established companies will also add impetus to the market.
Factors Affecting the Stakeholders of Virtual Reality in Manufacturing Market (2026):
VR hardware and software providers: These companies design and develop VR hardware, such as head-mounted displays (HMDs), and software used in various VR applications for the manufacturing industry.
Manufacturing companies: Manufacturing companies are one of the primary end-users of VR in manufacturing, using it for tasks such as product design and prototyping, assembly line layout and optimization, and training.
Industrial design firms: Industrial design firms may use VR technology to create 3D models of products and test them in a virtual environment before physical production begins.
Education and training providers: Education and training providers may use VR technology to provide immersive training experiences to manufacturing workers, helping to improve their skills and reduce the risk of injury.
Government agencies: Government agencies may be involved in VR in the manufacturing industry to regulate the use of VR technology in certain applications and enforce safety standards.
NOTE: Our team is studying Covid19 and its impact on various industry verticals. The report will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
Some of the Key Questions Answered in this Report:
What trends, challenges, and barriers will influence the development and sizing of the global market?
SWOT Analysis of each defined key player along with its profile and Porter's five forces analysis to complement the same.
What is the Virtual Reality in Manufacturing Market growth momentum or market carriers during the forecast period?
Which region may tap the highest market share in the coming era?
Which application/end-user category or Product Type may seek incremental growth prospects?
What focused approach and constraints are holding the market demand?
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Major Points from Table of Contents
Global Virtual Reality in Manufacturing Market Research Report 2023-2026
Introduction
The objective of the Study
Definition of the Market
Market Scope
Market Segment by Type, Application, and Marketing Channel
Major Regions Covered (North America, Europe, Asia Pacific, Mid East, and Africa)
Years Considered for the Study
Currency Considered (U.S. Dollar)
Key Findings of the Study
Market Dynamics
Driving Factors for this Market
Factors Challenging the Market
Opportunities of the Global Virtual Reality in Manufacturing Market (Regions, Growing/Emerging Downstream Market Analysis)
Technological and Market Developments in the Virtual Reality in Manufacturing Market
Industry News by Region
Regulatory Scenario by Region/Country
Market Investment Scenario Strategic Recommendations Analysis
Value Chain of the Virtual Reality in Manufacturing Market
Value Chain Status
Upstream Raw Material Analysis
Midstream Major Company Analysis
Distributors/Traders
Downstream Major Customer Analysis (by Region)
Competitive Intelligence Company Profiles
Global Virtual Reality in Manufacturing Market -Segmentation by Geography
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
Future Forecast of the Global Virtual Reality in Manufacturing Market from 2023-2026
Future Forecast of the Global Virtual Reality in Manufacturing Market from 2023-2026 Segment by Region
Global Production and Growth Rate Forecast by Type 2023-2026
Global Consumption and Growth Rate Forecast by Application 2023-2026
Appendix
Methodology
Research Data Source
Continued….
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Phone: US: +1 424 253 0390, UK: +44 2071 939123, APAC: +91 744 740 1245
Fortune Business Insights™ Delivers Accurate Data and Innovative Corporate Analysis, Helping Organizations of All Sizes Make Appropriate Decisions. We Tailor Novel Solutions for Our Clients, Assisting Them in Address Various Challenges Distinct to Their Businesses. Our Aim Is to Empower Them with Holistic Market Intelligence, Providing A Granular Overview of the Market They Are Operating In.
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