Virtual Reality in Manufacturing Industry Size [2022-2029] Industry Trends, Share, Growth, SWOT Analysis, Market Drivers
The global Virtual Reality in Manufacturing Industry Market Size is expected to rise with an impressive CAGR and generate the highest revenue by 2029. Fortune Business Insights™ in its latest report published this information. The report is titled "Virtual Reality in Manufacturing Industry Size, Share and Trends Forecast". The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period [2022 - 2029].
- Fortune Business Insights says that the market value stood at US $ 924.7 Million in 2018
- By 2026, the Virtual Reality in Manufacturing Industry size is expected to reach US $ 14887 Million
- The market is expected to grow at a CAGR of 39.2% in the forecast period (2019-2026).
- The growth rate of the Global Virtual Reality in Manufacturing Industry is 39.2%, with an estimated value of US $ 14887 Million million by 2026.
Gather more insights about the market drivers, restrains and growth of the Global Virtual Reality in Manufacturing Industry
Driving Factor:
Rising Demand for Minimizing Operational Cost will Aid in Expansion of Market
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.
Major companies in Virtual Reality in Manufacturing Industry Report are:
- 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
Pre-Post COVID-19 Impact on Global Virtual Reality in Manufacturing Industry
COVID-19 is an infectious disease caused by the most recently discovered novel corona virus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks.
In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the Virtual Reality in Manufacturing Industry, since end-user industries were still not operating at their full capacity.
Secondary Research:
This research study made extensive use of secondary sources, directories, and databases such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource to identify and collect information useful for a technical, market-oriented, and commercial study of the global Virtual Reality in Manufacturing Industry. Other secondary sources included company annual reports, press releases, and investor presentations, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research:
Various sources from both the supply and demand sides were interviewed during the primary research process to obtain qualitative and quantitative information for this report. Primary sources included industry experts from the core and related industries, as well as preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations from all segments of the value chain of this industry. To obtain and verify critical qualitative and quantitative information, in-depth interviews were conducted with a variety of primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants.
Estimation of Market Size
The total size of the Virtual Reality in Manufacturing Industry was estimated and validated using both top-down and bottom-up approaches. These methods were also widely used to estimate the size of various market sub segments. The following research methodologies were used to estimate market size:
Extensive secondary research was used to identify the industry’s key players.
The revenues generated by the market’s leading players in molecular diagnostics have been determined through primary and secondary research.
All percentage shares, splits, and breakdowns were calculated using secondary sources and confirmed using primary sources.
FAQ's:
1. How big is Virtual Reality in Manufacturing Industry?
The global virtual reality in manufacturing industry size is expected to grow at a Compound Annual Growth Rate (CAGR) of 39.2% during the forecast period, to Reach USD 14887 Million by 2026, from USD 924.7 Million in 2018
2. Who is the market leader in Virtual Reality in Manufacturing Industry?
Major Points in Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Annexure / Appendix
- Global Virtual Reality in Manufacturing Industry Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
TOC Continued...!
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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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