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Virtual Reality (VR) Market Size, Share, Trends, Analysis, Industry Report 2027 | IGR
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Virtual Reality (VR) Market (Offering - Hardware, and Software; Device Type - Head-mounted Displays, Gesture-tracking Devices, and Projectors and Display Walls; Application - Commercial, Enterprise, Healthcare, Aerospace & Defense, Gaming and Entertainment, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : November, 2021

  • Rep Id : ICT003021

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

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.

 

Market Insight

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 reporting. 


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 increase productivity. 


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.

 

Segment Covered

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.

 

Companies Profiled:

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.

 

Report Highlights:

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.


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