Virtual Reality in Automotive Market Grow CAGR of 41.32% by 2027

Global Virtual Reality (VR) in Automotive Market Research Report: Forecast (2022-2027)

By Components (Hardware, Software, Content), By Application (Designing & Prototyping, Training, Virtual Showrooms, Research & Development), By Technology (Non-Immersive, Semi Immersive, Fully Immersiv... ... sive, Fully Immersive), By Device Type (Head-Mounted Display, Gesture-Tracking Device, Projectors & Display Wall), By Region (North America, South America, Europe, Asia Pacific, Middle East & Africa), By Company (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, Others) Read more

Automotive
Nov 2021
Pages 232
Report Format: PDF, Excel, PPT

The automotive industry is witnessing rapid adoption of Virtual Reality (VR) that helps enhance the skills of engineers & technicians while directly leading to more operational efficiency & reduced errors at times of assembling, designing, or prototyping the vehicle. Nowadays, automakers are increasingly seeking this technology across different products & sales processes, including research, designing, manufacturing, marketing, etc.

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.

Report Coverage	Details
Study Period	Historical Data: 2017-20
	Base Year: 2021
	Forecast Period: 2022-27
CAGR (2022-2027)	41.32%
Regions Covered	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
Key Companies Profiled	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
Unit Denominations	USD Million/Billion

In addition, the rapidly increasing adoption of virtual reality to train engineers & technicians using tools & solutions like Autodesk VRED, Audi Virtual training, Ford Virtual Reality, etc., shall also boost the market in the coming years. Leading automotive brands like Mercedes-Benz are actively participating in the market.

The company has recently introduced its partnership with Microsoft Corporation, adopting its HoloLens 2 VR goggles & Dynamics 365 Remote Assist, principally to enhance the customer experience and improve its overall sales. Hence, such partnerships are expected to bolster the demand for VR solutions across the global automotive industry in the coming years, further states the research report, “Global Virtual Reality in Automotive Industry Analysis, 2022.”

Impact of Covid-19 on the Global Virtual Reality in Automotive Industry

With the Covid-19 pandemic in 2020, the entire automotive industry observed a decelerating effect. However, Global Virtual Reality in the Automotive Industry underwent a positive impact.
The imposition of stringent movement restrictions & frequent lockdowns by the governments of different countries worldwide to curb the spread of this dreadful disease led to the shutdown of the manufacturing units & banned public gatherings.
As a result, the automotive industry had to look for alternative methods to sustain amidst the crisis.
Hence, the adoption of Virtual reality soared substantially to offer proper professional training to the technicians by maintaining social distance.
The adoption of several tools & stimulators for designing & prototyping increased significantly, even amidst the work from home culture, and generated immense opportunities for the leading players.
Moreover, the automotive industry also surged the demand for Virtual reality tools to create an implicit showroom as a platform for the customer for in-house virtual test driving.
This trend is anticipated to prevail after the pandemic, thereby driving the market in the forecast period.

Introduction
1. Product Definition
2. Research Process
3. Assumptions
4. Market Definition
Executive Summary
Impact of COVID-19 on Global Virtual Reality in Automotive Industry
Global Virtual Reality in Automotive Industry Regulations & Policy
Global Virtual Reality in Automotive Industry Trends & Insights
Global Virtual Reality in Automotive Industry Dynamics
1. Drivers
2. Challenges
3. Impact Analysis
Global Virtual Reality in Automotive Industry Hotspots & Opportunities
Global Virtual Reality in Automotive Industry Outlook, 2017-2027F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Component
    1. Hardware
    2. Software
    3. Content
  2. By Application
    1. Designing & Prototyping
    2. Training
    3. Virtual Showrooms
    4. Research & Development
    5. Others
  3. By Technology
    1. Non Immersive
    2. Semi Immersive
    3. Fully Immersive
  4. By Device Type
    1. Head-Mounted Display
    2. Gesture-Tracking Device
    3. Projectors & Display Wall
  5. By Region
    1. North America
    2. South America
    3. Europe
    4. Asia Pacific
    5. Middle East & Africa
  6. By Competitors
    1. Competition Characteristics
    2. Market Share & Analysis
    3. Competitive Matrix
North America Virtual Reality in Automotive Industry Outlook, 2017-2027F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Component
  2. By Application
  3. By Technology
  4. By Device Type
  5. By Country
    1. The U.S.
    2. Canada
    3. Mexico
3. The U.S. Virtual Reality in Automotive Industry Outlook, 2017-2027F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component
    2. By Application
4. Canada Virtual Reality in Automotive Industry Outlook, 2017-2027F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component
    2. By Application
5. Mexico Virtual Reality in Automotive Industry Outlook, 2017-2027F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component
    2. By Application
South America Virtual Reality in Automotive Industry Outlook, 2017-2027F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Component
  2. By Application
  3. By Technology
  4. By Device Type
  5. By Country
    1. Brazil
    2. Others
3. Brazil Virtual Reality in Automotive Industry Outlook, 2017-2027F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component
    2. By Application
Europe Virtual Reality in Automotive Industry Outlook, 2017-2027F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Component
  2. By Application
  3. By Technology
  4. By Device Type
  5. By Country
    1. The U.K.
    2. Germany
    3. France
    4. Italy
    5. Others
3. The U.K. Virtual Reality in Automotive Industry Outlook, 2017-2027F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component
    2. By Application
4. Germany Virtual Reality in Automotive Industry Outlook, 2017-2027F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component
    2. By Application
5. France Virtual Reality in Automotive Industry Outlook, 2017-2027F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component
    2. By Application
6. Italy Virtual Reality in Automotive Industry Outlook, 2017-2027F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component
    2. By Application
Middle East and Africa Virtual Reality in Automotive Industry Outlook, 2017-2027F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Component
  2. By Application
  3. By Technology
  4. By Device Type
  5. By Country
    1. GCC
    2. South Africa
    3. Others
3. GCC Virtual Reality in Automotive Industry Outlook, 2017-2027F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component
    2. By Application
4. South Africa Virtual Reality in Automotive Industry Outlook, 2017-2027F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component
    2. By Application
Asia-Pacific Virtual Reality in Automotive Industry Outlook, 2017-2027F
1. Market Size & Analysis
  1. By Revenues (USD Million)
2. Market Share & Analysis
  1. By Component
  2. By Application
  3. By Technology
  4. By Device Type
  5. By Country
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Australia
    6. Others
3. China Virtual Reality in Automotive Industry Outlook, 2017-2027F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component
    2. By Application
4. India Virtual Reality in Automotive Industry Outlook, 2017-2027F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component
    2. By Application
5. Japan Virtual Reality in Automotive Industry Outlook, 2017-2027F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component
    2. By Application
6. South Korea Virtual Reality in Automotive Industry Outlook, 2017-2027F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component
    2. By Application
7. Australia Virtual Reality in Automotive Industry Outlook, 2017-2027F
  1. Market Size & Analysis
    1. By Revenues (USD Million)
  2. Market Share & Analysis
    1. By Component
    2. By Application
Global Virtual Reality in Automotive Industry Key Strategic Imperatives for Success and Growth
Competition Outlook
1. Competition Matrix
  1. Brand Specialization
  2. Target Markets
  3. Target End Users
  4. Research & Development
  5. Strategic Alliances
  6. Strategic Initiatives
2. Company Profiles
  1. 4Experience
  2. Continental AG
  3. Google LLC
  4. HTC Corporation
  5. Microsoft Corporation
  6. NEXT/NOW
  7. Oculus Rift (Facebook Inc.)
  8. OmniVirt
  9. Onboard
  10. Robert Bosch GmbH
  11. Sensorama, Inc.
  12. Unity Technologies
  13. Veative Labs Ltd.
  14. Visualise Creative Limited (VCL)
  15. ZeroLight Limited
  16. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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