Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, the Global Augmented Reality and Virtual Reality in Manufacturing Market Size is Expected to Grow from USD 10.28 Billion in 2023 to USD 123.05 Billion by 2033, at a CAGR of 28.18% during the forecast period 2023-2033.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Augmented Reality and Virtual Reality in Manufacturing Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Technology (Augmented Reality and Virtual Reality), By Device (Head-Mounted Display, Head-Up Display, and Handheld Devices), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
Augmented reality & virtual reality in manufacturing are used to improve efficiency, safety, and training. It can be used to stimulate a manufacturing process, allowing engineers to identify potential problems with equipment placement and workflow. AR overlays can be used to provide real-time information about equipment performance, allowing technicians to quickly identify problems and make repairs. AR and VR are highly compatible technologies that provide an immersive 360-degree content view in a highly simulative environment and are driven by actionable analytical insights. The availability of various electronic products compatible with AR VR technology, including tablets, headsets, and other smart devices, is escalating the lucrative market growth opportunities. The increasing trend for the application of industrial robots in manufacturing is driving the market demand. Further, the adoption of AR & VR for eliminating the physical trials that assist organizations in cutting down R&D costs is driving market growth. On the contrary, the presence of privacy infringement and technological constraints are challenging the market.
The hardware segment dominated the market with the largest market share in 2023.
Based on the component, augmented reality & virtual reality in the manufacturing market are classified into hardware, software, and services. Among these, the hardware segment dominated the market with the largest market share in 2023. The segment comprises headsets and goggles. The market demand for augmented reality and virtual reality headsets is anticipated to be driven by innovations in technology, networking, and connectivity.
The augmented reality segment dominated the market with the largest market share in 2023.
Based on the technology, augmented reality & virtual reality in the manufacturing market are classified into augmented reality and virtual reality. Among these, the augmented reality segment dominated the market with the largest market share in 2023. The increasing preference for AR technology due to accessibility to both manual and automated data is driving the market in the augmented reality (AR) technology segment.
The head-mounted display (HMD) segment held the largest revenue share in 2023.
Based on the device, augmented reality & virtual reality in the manufacturing market are classified into head-mounted display, head-up display, and handheld devices. Among these, the head-mounted display (HMD) segment held the largest revenue share in 2023. The increasing need for HMD devices and smart glasses for industrial applications owing to their use for product improvement is driving the market in the head-mounted display (HMD) segment.
North America is estimated to hold the largest share of augmented reality & virtual reality in the manufacturing market over the forecast period.
North America is estimated to hold the largest share of augmented reality & virtual reality in the manufacturing market over the forecast period. The increasing adoption of industrial revolution 4.0 in the manufacturing market is driving the regional market growth. The increasing demand for AR technology in healthcare applications along with the presence of leading key market players are contributing to propelling the market.
Asia Pacific is predicted to grow at the highest CAGR in the augmented reality & virtual reality manufacturing market over the forecast period. The continued rollout of 5G networks accelerating the AR and VR technologies adoption in the manufacturing sector is propelling the market. Further, the widespread use of smartphones and the adoption of smart electronic devices is driving the market.
Competitive Analysis
Major key players in the global augmented reality & virtual reality manufacturing market include Microsoft Corporation, Google LLC, Samsung Group, Vuzix Corporation, SkillReal, Ediiie, EON Realty, Inc., Kaon Interactive Inc., Worldviz, Inc., SoluLab, ESI Group, and Others.
Key Target Audience
Recent Developments
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented augmented reality & virtual reality in the manufacturing market based on the below-mentioned segments:
Global Augmented Reality & Virtual Reality in Manufacturing Market, By Component
Global Augmented Reality & Virtual Reality in Manufacturing Market, By Technology
Global Augmented Reality & Virtual Reality in Manufacturing Market, By Device
Global Augmented Reality & Virtual Reality in Manufacturing Market, By Regional Analysis
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