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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