A recent report published by
Infinium Global Research on the virtual reality (VR) market provides in-depth
analysis of segments and sub-segments in the global as well as regional virtual
reality (VR) market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional virtual reality (VR)
market over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of global virtual reality (VR)
market. According to the report, the global virtual reality (VR) market is
projected to grow at a CAGR of 35% over the forecast period of 2021-2027.
Manufacturing firms across the
globe are continuously striving to stay ahead of their competition and to surge
value for all of their stakeholders. They are seeking solutions to improve
productivity and increase profitability and cash flows as part of a mature
industry. Warranty Management software provides support for a multichannel
end-to-end global warranty procedure from the initial formulation of the
warranty programs and contacts through product registration, diagnosis and
recommendation of repair procedures, claims processing, execution of recall,
and corrective action programs, detail performance management, and tracking
The rising need for automation is
the key driving factor for the global warranty management software market.
Automation improves process control and significantly reduces lead times.
Warranty management software delivers value-added services and programs beyond
standard warranties. The software differentiates customer experience and
increases customer satisfaction by building long-term relationships across all
channels including retail, web, mobile and social media. Furthermore,
digitalization and technological advancement also drive the global market.
However, a lack of awareness among end-users restrains the global market
growth. A lack of awareness regarding advanced technologies, specifically
across developing and underdeveloped economies expected to hamper the market.
Moreover, the adoption of advanced technologies such as AI and ML is creating
growth opportunities for the market players. The outbreak of the covid-19 virus
and its impact on the global economy has harshly affected the warranty
management software market. Manufacturers operating in the warranty management
software market are striving to keep their wheels turning at the time of the
global financial crisis owing to forced lockdown and shutting down of
businesses in most countries. The companies are trying to re-establish their
businesses by adopting innovative solutions in order to deal with uncertainty
and to overcome challenges in the global warranty management software market.
Companies have started using artificial intelligence (AI) and cloud-based
technologies in warranty management software to keep product quality and
Geographically, the North American
region accounted for the largest market share for warranty management software.
The North American region is well-known as the major adopter of innovative
technologies such as big data analytics, IoT, and BI tools. The Asia Pacific
and European regions have the fastest-growing market for warranty management
software. The rising adoption of cloud-based enterprise applications as well as
increasing technological advancement is influencing the market growth in the
Asia Pacific and Europe regions. Additionally, the growing amount of data,
investments in marketing, and increasing penetration of the internet are
driving market growth.
The report on global virtual
reality (VR) market covers segments such as offering, device type, and
application. On the basis of offering, the sub-markets include hardware, and
software. On the basis of device type, the sub-markets include head-mounted
displays, gesture-tracking devices, and projectors and display walls. On the
basis of application, the sub-markets include commercial, enterprise,
healthcare, aerospace & defense, gaming and entertainment, and others.
The report provides profiles of
the companies in the market such as Google Inc., Sony Corporation, Magic Leap
Inc., HTC Corporation, Microsoft Corporation, Osterhout Design Group,
CyberGlove Systems, Leap Motion, Nintendo Co., Ltd., and Psious.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO analysis
of the virtual reality (VR) market. Moreover, the study highlights current market
trends and provides forecast from 2021-2027. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.