Market Insights and Analysis: Global Virtual Reality (VR) in Automotive Market Overview and Projections (2022-2027)
According to MarkNtel Advisors, the Global Virtual Reality in Automotive Industry is projected to witness around 41.32% CAGR during the forecast period, i.e., 2022-27. It owes to the mounting need for digitalization in retail practices and soaring requirements for virtual reality in the automotive sector due to its benefits like reducing the overall R&D & manufacturing costs, improving marketing & sales strategies by creating virtual platforms like showrooms & training, and minimizing driving risks by adopting prototyping & test driving, all in the virtual environment.
Top leading companies in the Global Virtual Reality (VR) in Automotive Market includes:
4Experience, Continental AG, Google LLC, HTC Corporation, Microsoft Corporation, NEXT/NOW, Oculus Rift (Facebook Inc.), OmniVirt, Onboard, Robert Bosch GmbH, Sensorama, Inc., Unity Technologies, Veative Labs Ltd., Visualise Creative Limited (VCL), ZeroLight Limited.
Key Drivers
- Capabilities of Virtual Reality to speed up the self-driving vehicle testing through multiple simulations
- VR Offers improved marketing & sales strategies in the automotive industry for better customer engagement
- Improved virtual presentation of car designs & features.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Component
-Hardware
-Software
-Content
By Application
-Designing & Prototyping
-Training
-Virtual Showrooms
-Research & Development
-Others
By Technology
-Non Immersive
-Semi Immersive
-Fully Immersive
-By Device Type
-Head-Mounted Display
-Gesture-Tracking Device
-Projectors & Display Wall.
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Global Virtual Reality (VR) in Automotive Market Geographic Reach:
The Geographic Reach of the Global Virtual Reality (VR) in Automotive Market evaluates the spread and significance of Global Virtual Reality (VR) in Automotive market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
- North America: USA, Canada, Mexico
- Europe: Germany, The UK, Germany, France, Spain, Italy and Others
- Asia-Pacific: China, India, Japan, South Korea, Australia and Others
- South America: Brazil
- Middle East & Africa: GCC, South Africa.
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