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PUBLISHER: Grand View Research | PRODUCT CODE: 1363476
PUBLISHER: Grand View Research | PRODUCT CODE: 1363476
Augmented Reality & Virtual Reality In Manufacturing Market Size, Share & Trends Analysis Report by Component (Hardware, Software, services), By Technology, By Device, By Application, By Region, And Segment Forecasts, 2023 - 2030
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PAGES: 300 Pages
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Augmented Reality & Virtual Reality In Manufacturing Market Growth & Trends:
The global augmented reality & virtual reality in manufacturing market size is anticipated to reach USD 62.71 billion by 2030, growing at a CAGR of 28.3% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The market is expected to witness substantial growth over the next eight years as more manufacturing industries have incorporated AR & VR in their production processes. The AR VR technology in manufacturing is used for training the workforce, test safety & error detection, and quality assurance, among others. The advancements in 3D technology and the combination of Artificial Intelligence (AI) with VR give development prospects to the market, especially in the automation and manufacturing businesses. Therefore, all these factors impact the growth of augmented reality and virtual reality in the manufacturing market positively.
The applications in manufacturing, such as product design & development, training in the industrial environment, and remotely conducting repair & maintenance tasks, demand the use of AR VR technology due to its convenience, low operational costs, and better proficiency. Organizations are adopting cutting-edge gadgets with the latest technologies, such as sensors for gesture input, eye tracking, motion tracking, spatial sound, and voice support. Therefore, adopting the latest devices and software compatible with AR and VR offers manufacturers various applications. Hence, the wide range of usage of AR VR in manufacturing is expected to create market demand.
The growing popularity of augmented and virtual reality technologies for industrial end-use is expected to drive market growth for the forecasted period. In recent years, there has been a significant increase in the demand and popularity of augmented reality and virtual reality headsets due to technological advancements in capturing images and sounds. The incorporation of VR headsets in industries for vivid applications creates market opportunities. For instance, the National Aeronautics and Space Administration (NASA) deployed VR expertise to provide a Virtual Space Station (VSS), collaborative computer-delivered treatment programs, and collaborative behavioral health training.
Augmented Reality & Virtual Reality In Manufacturing Market Report Highlights:
- The hardware segment accounted for over 57% of the total revenue share in 2021 owing to the adoption of AR VR devices in manufacturing end-use
- The augmented reality segment is expected to record a revenue of over USD 41.00 Billion in 2030, due to its wide range of applications in manufacturing processes
- The handheld devices segment is expected to grow at the highest CAGR of 29.3% from 2022 to 2030 owing to the advantage of portability offered by handheld devices
- The product design and development segment accounted for the highest revenue share of around 51.0% in 2022 the reason being the high penetration of AR VR in product design and development
- Asia Pacific is expected to register the fastest growth over the forecast period due to the fast adoption of AR VR technology among a large base of manufacturers in the region
Product Code: GVR-4-68039-979-4
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definitions
- 1.3 Information Procurement
- 1.3.1 Information analysis
- 1.3.2 Market formulation & data visualization
- 1.3.3 Data validation & publishing
- 1.4 Research Scope and Assumptions
- 1.4.1 List to Data Sources
Chapter 2 Executive Summary
- 2.1 Augmented Reality and Virtual Reality in Manufacturing Market Snapshot
- 2.2 Augmented Reality and Virtual Reality in Manufacturing - Segment Snapshot (1/2)
- 2.3 Augmented Reality and Virtual Reality in Manufacturing - Segment Snapshot (2/2)
- 2.4 Augmented Reality and Virtual Reality in Manufacturing - Competitive Landscape Snapshot
Chapter 3 Augmented Reality and Virtual Reality in Manufacturing Market - Industry Outlook
- 3.1 Market Lineage Outlook
- 3.2 Value Chain Analysis
- 3.3 Market Dynamics
- 3.3.1 Market driver analysis
- 3.3.2 Market restraint analysis
- 3.4 Industry Analysis Tools
- 3.4.1 Porter's analysis
- 3.4.2 Macroeconomic analysis
- 3.5 Augmented Reality and Virtual Reality in Manufacturing Market - COVID-19 Impact Analysis
Chapter 4 Augmented Reality and Virtual Reality in Manufacturing Market: Component Estimates & Trend Analysis
- 4.1 Component Movement Analysis & Market Share, 2022 & 2030
- 4.2 Augmented Reality and Virtual Reality in Manufacturing Market Estimates & Forecast, By Component (USD Million)
- 4.2.1 Hardware
- 4.2.2 Software
- 4.2.3 Services
Chapter 5 Augmented Reality and Virtual Reality in Manufacturing Market: Technology Estimates & Trend Analysis
- 5.1 Technology Movement Analysis & Market Share, 2022 & 2030
- 5.2 Augmented Reality and Virtual Reality in Manufacturing Market Estimates & Forecast, By Technology (USD Million)
- 5.2.1 Augmented Reality
- 5.2.2 Virtual Reality
Chapter 6 Augmented Reality and Virtual Reality in Manufacturing Market: Device Type Estimates & Trend Analysis
- 6.1 Device Type Movement Analysis & Market Share, 2022 & 2030
- 6.2 Augmented Reality and Virtual Reality in Manufacturing Market Estimates & Forecast, By Device Type (USD Million)
- 6.2.1 HMD
- 6.2.2 HUD
- 6.2.3 Handheld Devices
Chapter 7 Augmented Reality and Virtual Reality in Manufacturing Market: Application Estimates & Trend Analysis
- 7.1 Application Movement Analysis & Market Share, 2022 & 2030
- 7.2 Augmented Reality and Virtual Reality in Manufacturing Market Estimates & Forecast, By Application (USD Million)
- 7.2.1 Product Design and Development
- 7.2.2 Safety and Training
- 7.2.3 Maintenance and Repair
Chapter 8 Regional Estimates & Trend Analysis
- 8.1 Augmented Reality and Virtual Reality in Manufacturing Market: Regional Outlook
- 8.2 North America
- 8.2.1 North america Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.2.2 U.S.
- 8.2.2.1 U.S. Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.2.3 Canada
- 8.2.3.1 Canada Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.2.4 Mexico
- 8.2.4.1 Mexico Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.3 Europe
- 8.3.1 Europe Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.3.2 Germany
- 8.3.2.1 Germany Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.3.3 U.K.
- 8.3.3.1 U.K. Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.3.4 France
- 8.3.4.1 France Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.3.5 Italy
- 8.3.5.1 Italy Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.3.6 Spain
- 8.3.6.1 Spain Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.4 Asia Pacific
- 8.4.1 Asia Pacific Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.4.2 China
- 8.4.2.1 China Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.4.3 India
- 8.4.3.1 India Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.4.4 Japan
- 8.4.4.1 Japan Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.4.5 Australia
- 8.4.5.1 Australia Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.4.6 South Korea
- 8.4.6.1 South Korea Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.5 Latin America
- 8.5.1 Latin america Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.5.2 Brazil
- 8.5.2.1 Brazil Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.5.3 Argentina
- 8.5.3.1 Argentina Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.6 Middle East and Africa
- 8.6.1 Middle East and Africa Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
- 8.6.2 South Africa
- 8.6.2.1 South Africa Augmented Reality and Virtual Reality in Manufacturing market estimates & Forecasts, 2018 - 2030 (USD Million)
Chapter 9 Augmented Reality and Virtual Reality in Manufacturing Market - Competitive Landscape
- 9.1 Key Market Participants
- 9.1.1 Microsoft Corporation
- 9.1.2 Google LLC
- 9.1.3 Samsung Group
- 9.1.4 Vuzix Corporation
- 9.1.5 SkillReal
- 9.1.6 NOVAC Technology Solutions
- 9.1.7 Ediiie
- 9.1.8 EON Reality Inc.
- 9.1.9 Kaon Interactive Inc.
- 9.1.10 Worldviz Inc.
- 9.1.11 SoluLab
- 9.1.12 ESI Group
- 9.2 Recent Developments & Impact Analysis, By Key Market Participants
- 9.3 Company Categorization
- 9.4 Participant's Overview
- 9.5 Financial Performance
- 9.6 Product Benchmarking
- 9.7 Company Market Share Analysis, 2022
- 9.8 Company Heat Map Analysis
- 9.9 Strategy Mapping
- 9.9.1 Expansion
- 9.9.2 Mergers & Acquisition
- 9.9.3 Collaborations
- 9.9.4 New Product Launches
Product Code: GVR-4-68039-979-4
List of Tables
- Table 1 Augmented Reality and Virtual Reality in Manufacturing market - Key market driver impact
- Table 2 Key market restraint/challenges impact
- Table 3 Augmented Reality and Virtual Reality in Manufacturing Market Revenue Estimates and Forecast, By Component, 2018 - 2030 (USD Million)
- Table 4 Global Augmented Reality and Virtual Reality in Manufacturing Market Revenue Estimates and Forecast, By Technology, 2018 - 2030 (USD Million)
- Table 5 Global Augmented Reality and Virtual Reality in Manufacturing Market Revenue Estimates and Forecast, By Device, 2018 - 2030 (USD Million)
- Table 6 Global Augmented Reality and Virtual Reality in Manufacturing Market Revenue Estimates and Forecast, By Application, 2018 - 2030 (USD Million)
- Table 7 Recent Developments & Impact Analysis, By Key Market Participants
- Table 8 Company Heat Map Analysis
- Table 9 Key Companies undergoing expansions
- Table 10 Key Companies involved in M&As
- Table 11 Key Companies undergoing collaborations
- Table 12 Key Companies launching new products
List of Figures
- Fig. 1 Augmented Reality and Virtual Reality in Manufacturing Market Segmentation
- Fig. 2 Information Procurement
- Fig. 3 Data Analysis Models
- Fig. 4 Market Formulation And Validation
- Fig. 5 Data Validating & Publishing
- Fig. 6 Market Snapshot
- Fig. 7 Segment Snapshot (1/2)
- Fig. 8 Segment Snapshot (2/2)
- Fig. 9 Competitive Landscape Snapshot
- Fig. 10 Augmented Reality and Virtual Reality in Manufacturing - Industry Value Chain Analysis
- Fig. 11 Market dynamics
- Fig. 12 Augmented Reality and Virtual Reality in Manufacturing market: PORTER's Analysis
- Fig. 13 Augmented Reality and Virtual Reality in Manufacturing market: PESTEL Analysis
- Fig. 14 Augmented Reality and Virtual Reality in Manufacturing Market, by Component: Key Takeaways
- Fig. 15 Augmented Reality and Virtual Reality in Manufacturing Market, by Component: Market Share, 2022 & 2030
- Fig. 16 Augmented Reality and Virtual Reality in Manufacturing Market, by Technology: Key Takeaways
- Fig. 17 Augmented Reality and Virtual Reality in Manufacturing Market, by Technology: Market Share, 2022 & 2030
- Fig. 18 Augmented Reality and Virtual Reality in Manufacturing Market, by Device: Key Takeaways
- Fig. 19 Augmented Reality and Virtual Reality in Manufacturing Market, by Device: Market Share, 2022 & 2030
- Fig. 20 Augmented Reality and Virtual Reality in Manufacturing Market, by Application: Key Takeaways
- Fig. 21 Augmented Reality and Virtual Reality in Manufacturing Market, by Application: Market Share, 2022 & 2030
- Fig. 22 Augmented Reality and Virtual Reality in Manufacturing Market Revenue By Region, 2022 & 2030 (USD Million)
- Fig. 23 Regional marketplace: Key takeaways
- Fig. 24 Key Company Categorization
- Fig. 25 Company Market Share Analysis, 2022
- Fig. 26 Strategic framework
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