North America 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
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Market Report Description
The North America Augmented Reality & Virtual Reality In Manufacturing Market would witness market growth of 27.3% CAGR during the forecast period (2022-2028).
AR can simplify operation. For instance, the information technicians use when inspecting or fixing a machine could be projected immediately onto the component they are working on. This expedites the procedure by eliminating the need to examine charts & instruction manuals. In addition, the predicted information assists the operator, allowing even a comparatively recent person to conduct the required repair.
Similarly, AR may be utilized to provide professional help without transporting specialists across the world. In fact, every employee outfitted with AR glasses can be remotely coached by a professional who gives assistance by replicating the tasks the person should execute. This method can also be utilized for employee training. Additionally, both AR and VR may provide outstanding support for emergency procedure training.
Essential to the success of any manufacturing enterprises is the maintenance of a safe and productive work environment. To do this, it is essential to have a well-trained crew with in-depth understanding of equipment and corporate rules and procedures. Immersive technology may hold the secret to rapidly and successfully teaching staff. In a risk-free setting, VR-based training allows employees to engage in real, hands-on, and authentic experiences. Moreover, VR can provide the opportunity for employees to educate together, which is vital for teams doing interdependent jobs.
Manitoba has a thriving manufacturing and processing sector that produces a diverse range of goods, including aircraft components, farm equipment, buses, French fries, furniture, paper products, windows, apparel and outerwear. The manufacturing sector contributes the most to the Gross Domestic Product (GDP) among industries, accounting for around 10% of Manitoba's economic production.
The US market dominated the North America Augmented Reality & Virtual Reality In Manufacturing Market by Country in 2021; thereby, achieving a market value of $7.1 billion by 2028. The Canada market is estimated to grow at a CAGR of 30.2% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 29.1% 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 U.S., Mexico, Canada, and Rest of North America.
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:
- Augmented Reality
- Virtual Reality
By Device Type
- Head-mounted Display
- Head-up Display
- Handheld Devices
- Product Design & Development
- Safety & Training
- Maintenance & Repair
- Rest of North America
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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