Global Augmented And Virtual Reality in Manufacturing Market Projected to Surpass $49.8 Billion by 2029 with 30.5% Annual Growth

What combination of drivers is leading to accelerated growth in the augmented and virtual reality in manufacturing market?
The escalating integration of industrial automation is projected to spur the development of augmented and virtual reality in the manufacturing market. Industrial automation involves the adoption of control systems, equipment, and novel technologies to automate industrial actions and procedures, usually within manufacturing and production spaces. The rising implementation of industrial automation is propelled by a combination of economic, technological, and market dynamics that pressurize manufacturers to adopt automation as a strategic necessity for attaining operational superiority, competitiveness and sustainability amid a briskly evolving business environment. Augmented and virtual reality superimpose real-time performance data on physical machinery, supplying operators with essential insights into the performance of robots, production statistics, and maintenance plans. This encourages anticipatory decision-making and refinement of manufacturing procedures. For example, in September 2023, the International Federation of Robotics, a non-profit entity based in Germany, stated that global industrial robot installations in factories had reached 553,052, marking a 5% rise from the previous year. Geographically, Asia accounted for 73% of all new robot installations, followed by Europe with 15% and the Americas with 10%. Hence, the growth in industrial automation boosts augmented and virtual reality in the manufacturing sector.

Get Your Augmented And Virtual Reality in Manufacturing Market Report Here:
https://www.thebusinessresearchcompany.com/report/augmented-and-virtual-reality-in-manufacturing-global-market-report

What is the projected compound annual growth rate (CAGR) of the augmented and virtual reality in manufacturing market from 2025 to 2034, and what factors influence it?
The market size for augmented and virtual reality in manufacturing has seen rapid expansion in the past few years. It is projected to increase from $13.14 billion in 2024 to $17.17 billion in 2025, with a compound annual growth rate (CAGR) of 30.7%. This growth during the historical period is largely due to the increasing demand for improved hardware and software technologies, the upwards trend of digitalization in the manufacturing sector, the growing use of AR VR for enhancing manufacturing plant operations and workforce training, increased interest from manufacturers in AR VR tools for simulation applications, as well as the escalating reach of the Industrial Revolution 4.0.

The market size of augmented and virtual reality in manufacturing is projected to experience remarkable growth in the upcoming years, expanding to $49.8 billion in 2029 with a compound annual growth rate (CAGR) of 30.5%. The surge during the prediction period can be credited to the increasing use of smartphones, the accessibility of compatible electronics like headsets, government-led initiatives, streamlined repair procedures, and enhanced quality management. Key trends during the prediction period encompasses the growing use of smartphones, the accessibility of compatible electronics like headsets, escalating government-led initiatives, streamlined repair procedures, and enhanced quality management.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14636&type=smp

What new trends are reshaping the augmented and virtual reality in manufacturing market and its opportunities?
Prominent businesses in the industry of augmented and virtual reality in manufacturing are making advancements in smart glasses, like the Z100 smart glasses, with the goal of providing enhanced functionalities to their customers. The Z100 smart glasses are wearable computing devices that display digital data over the user's visual field, usually via a transparent screen. For example, in January 2024, Vuzix Corporation, a technology firm from the US, introduced the Z100 smart glasses to establish a direct link between employees and AI enhancement tools. This unique quality of the Z100 smart glasses boosts the corporate use of AR glasses by providing a hands-free wearable gadget that looks like regular glasses. Given its 48-hour battery lifespan after a single charge, the Vuzix Z100 smart glasses incorporate top-notch heads-up waveguide tech into a stylish and lightweight frame, weighing no more than 35 grams - the same as normal eyewear. Improved with sophisticated monocular waveguide optics and Vuzix's exclusive microdisplay engine, these glasses deliver a crystal-clear, monochrome picture, displaying crucial data directly before the user's eyes from their Android or iOS gadget without requiring the use of hands. Users enjoy immediate access to essential task information, which can include language translation, closed captioning, navigation, health monitoring, messaging, workflow progress, and more.

What are the major segments of the augmented and virtual reality in manufacturing market and their role in driving growth?
The augmented and virtual reality in manufacturing market covered in this report is segmented -

1) By Component: Hardware, Software, Services
2) By Technology: Augmented Reality, Virtual Reality
3) By Device Type: Head-Mounted Display, Head-Up Display, Handheld Devices
4) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises
5) By Application: Product Design And Development, Safety And Training, Maintenance And Repair

Subsegments:
1) By Hardware: AR/VR Headsets, Sensors, Cameras, Display Units, Processors, Wearables (Smart Glasses, Haptic Gloves)
2) By Software: AR Or VR Development Tools, Simulation Software, 3D Visualization Software, Data Analytics And Management Software, Application Software For Specific Use Cases (Training, Design)
3) By Services: Integration Services, Consulting Services, Support And Maintenance Services, Training And Education Services

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14636

Which regions are key players in the growth of the augmented and virtual reality in manufacturing market?
North America was the largest region in the augmented and virtual reality in manufacturing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the augmented and virtual reality in manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the key firms paving the way for growth in the augmented and virtual reality in manufacturing market?
Major companies operating in the augmented and virtual reality in manufacturing market are Apple Inc., Google LLC, Panasonic Holdings Corporation, Samsung Group, Microsoft Corporation, Sony Group Corporation, Novac Technology Solutions, Intel Corporation, Lenovo Group Limited, Continental AG, Xiaomi Corporation, Seiko Epson Corporation, HTC Corporation, PTC Inc., Magic Leap Inc., ESI Group, WayRay AG, EON Realty Inc., Ultraleap, SoluLab Inc., Kaon Interactive Inc., Vuzix Corporation, Blippar Group Limited, Scope AR, SkillReal, Atheer Inc., Worldviz Inc.

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=14636&type=smp

What Is Covered In The Augmented And Virtual Reality in Manufacturing Global Market Report?

• Market Size Forecast: Examine the augmented and virtual reality in manufacturing market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the augmented and virtual reality in manufacturing market for a structured understanding.
• Key Players Overview: Analyze major players in the augmented and virtual reality in manufacturing market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the augmented and virtual reality in manufacturing market.
• Segment Contributions: Evaluate how different segments drive overall growth in the augmented and virtual reality in manufacturing market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the augmented and virtual reality in manufacturing market.
• Industry Challenges: Identify potential risks and obstacles affecting the augmented and virtual reality in manufacturing market.
• Competitive Landscape: Review strategic developments in the augmented and virtual reality in manufacturing market, including expansions, agreements, and new product launches.

Learn More About The Business Research Company
The Business Research Company provides in-depth research and insights through a vast collection of 15,000+ reports spanning 27 industries and over 60 geographies. Backed by 1,500,000 datasets, extensive secondary research, and expert insights from industry leaders, we equip you with the knowledge needed to stay ahead in the market.

Our flagship offering, the Global Market Model, is a leading market intelligence platform that delivers comprehensive and up-to-date forecasts to support strategic decision-making.

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.