Asia Pacific Augmented Reality & Virtual Reality In Manufacturing Market

Asia Pacific Augmented Reality & Virtual Reality In Manufacturing Market Size, Share & Industry Trends Analysis Report By Technology, By Device Type, By Component (Hardware, Software and Services), By Application, By Country and Growth Forecast, 2022 - 2028

Report Id: KBV-11167 Publication Date: September-2022 Number of Pages: 101
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Market Report Description

The Asia Pacific Augmented Reality & Virtual Reality In Manufacturing Market would witness market growth of 28.6% CAGR during the forecast period (2022-2028).

Establishing augmented reality is typically more difficult than developing virtual reality since an AR system requires a technique for identifying the location of real-world objects in order to accurately overlay virtual ones. As the computer game business has indeed addressed a number of these issues, several AR developers servicing the manufacturing industry have borrowed game industry technologies.

Manufacturing is comprised of a complex network of procedures, operations, and mechanisms that need the utmost care and precision to guarantee adherence with the standard operating procedures. A dearth of proper training may lead to errors in the assembly procedure. It may result in a possibly greater degree of damage, hence raising cost implications, not to mention the manufacturer's increased risk.

However, AR can aid improve training efficacy. This could assist manufacturers teach new personnel on the procedure of assembly. The utilization of AR-powered training materials may assist them see and comprehend every stage of the process done on the shop floor, without exposing them to safety hazards or requiring them to attend the shop floor. Using the augmented reality movie, trainees may observe and learn each step.

China's manufacturing sector has achieved significant progress over the past couple of decades, with its contribution to world manufacturing production reaching over 30 percent last year. This demonstrates the vital role China has played in protecting world industrial and supply networks. The present definition of manufacturing employees in China eliminates informal production by individuals and small groups, as it only covers employees of established manufacturing businesses.

The China market dominated the Asia Pacific Augmented Reality & Virtual Reality In Manufacturing Market by Country in 2021; thereby, achieving a market value of $2.2 billion by 2028. The Japan market is poised to grow at a CAGR of 27.8% during (2022 - 2028). Additionally, The India market would experience a CAGR of 29.4% during (2022 - 2028).

Based on Technology, the market is segmented into Augmented Reality and Virtual Reality. Based on Device Type, the market is segmented into Head-mounted Display, Head-up Display and Handheld Devices. Based on Component, the market is segmented into Hardware, Software and Services. Based on Application, the market is segmented into Product Design & Development, Safety & Training and Maintenance & Repair. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.

Free Valuable Insights: The Worldwide Augmented Reality & Virtual Reality In Manufacturing Market is Projected to reach USD 27.9 Billion by 2028, at a CAGR of 27.9%

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co., Ltd. (Samsung Group), Google LLC, Microsoft Corporation, Vuzix Corporation, WorldViz, Inc., EON Reality, Inc., ESI Group, SkillReal Ltd., Kaon Interactive, Inc. and Solulab, Inc.

Scope of the Study

Market Segments Covered in the Report:

By Technology

  • Augmented Reality
  • Virtual Reality

By Device Type

  • Head-mounted Display
  • Head-up Display
  • Handheld Devices

By Component

  • Hardware
  • Software
  • Services

By Application

  • Product Design & Development
  • Safety & Training
  • Maintenance & Repair

By Country

  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific

Key Market Players

List of Companies Profiled in the Report:

  • Samsung Electronics Co., Ltd. (Samsung Group)
  • Google LLC
  • Microsoft Corporation
  • Vuzix Corporation
  • WorldViz, Inc.
  • EON Reality, Inc.
  • ESI Group
  • SkillReal Ltd.
  • Kaon Interactive, Inc.
  • Solulab, Inc.
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