VR in Automotive Market Size [2022-2029] Industry Trends, Share, Growth, SWOT Analysis, Market Drivers
The global VR in Automotive 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 "VR in Automotive Market 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 $ 759.3 Million in 2019
- By 2027, the Virtual Reality in Automotive Market size is expected to reach US $ 14727.9 Million
- The market is expected to grow at a CAGR of 45.1% in the forecast period (2020-2027).
- The growth rate of the Global Virtual Reality in Automotive Market is 45.1%, with an estimated value of US $ 14727.9 Million million by 2027.
Gather more insights about the market drivers, restrains and growth of the Global VR in Automotive Market
Driving Factor:
Ability to Present Car Designs Virtually to Customers will Boost Growth
The automotive industry is gaining various advantages for the marketing and sales of vehicles with the help of VR technology. It helps in creating an immersive experience to provide better customer experience. Additionally, dealers can present the car designs and features to their customers with the help of VR in automotive. However, VR simulators are incapable of offering flexibility amid training sessions. It includes asking doubts and clearing them. This factor may hinder the virtual reality in automotive market growth in the near future.
Major companies in VR in Automotive Market Report are:
- Google LLC (California, United States)
- ZeroLight Limited (England, UK)
- Robert Bosch GmbH (Gerlingen, Germany)
- Unity Technologies (California, United States)
- HTC Corporation (Taoyuan City, Taiwan)
- Oculus Rift (Facebook Inc.) (California, United States)
- Microsoft Corporation (Washington, United States)
- Autodesk Inc. (California, United States)
- Continental AG (Hanover, Germany)
- Veative Labs Ltd. (Singapore)
- Visualise Creative Limited (VCL) (London, UK)
- Augmented Pixels, Inc. (California, United States)
- Onboard (Berlin, Germany)
- NEXT/NOW (Chicago, United States)
- 4Experience (Bielsko-Biała, Poland)
- Sensorama, Inc. (Delaware, United States)
- OmniVirt (California, United States)
- Audax Labs, LLC (California, United States)
Pre-Post COVID-19 Impact on Global VR in Automotive Market
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 VR in Automotive Market, 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 VR in Automotive Market. 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 VR in Automotive Market 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 VR in Automotive Market?
The global virtual reality in automotive market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 45.1% during the forecast period, to Reach USD 14727.9 Million by 2027, from USD 759.3 Million in 2019
2. Who is the market leader in VR in Automotive?
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 VR in Automotive Market 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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