February 10, 2020

Expert Says Importance of Augmented Reality and Virtual Reality in Industry

Augmented reality and virtual reality

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Augmented reality and virtual reality are changing the way manufacturing, industry, factories and other operations operate, and digital images and data make the process much easier. AR adds digital data to the real world, allowing users to explore detailed information about the real world. This application of AR is one step ahead of the VR application that allows users to see reality as a simulation. AR applications are even more feasible because they can be deployed on smartphones and tablets. These applications in industry scenarios help employees understand tools, machines, and other applications, as well as other applications, including training, machine diagnostics, and repair.

Growing adoption of computer technology and improving connectivity across APAC region will drive the growth of AR and VR market. These technologies have widespread application across different domain such as healthcare, entertainment, marketing, sports, automotive, and industrial. Currently the adoption rate of these technologies in APAC is limited and observed to have more potential going ahead. The growth of smartphones and tablets will drive the market as most of the applications of AR and VR are consumer focused.

AR and VR Market

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Top Companies Operating in this Study :

  • Augmented Pixels Co.
  • EON Reality
  • Innovega
  • Kishino
  • Laster Technologies
  • Layar B. V.
  • Total Immersion
  • Vuzix
  • Zugara

Augmented and Virtual reality products vary with different specifications as these are used in various end user applications and the products are customized for optimum usage. The required raw materials such as sensors, displays, processing unit, and other components vary with respect to specifications of the system or devices. For instance, a simple Google Cardboard requires minimum amount of raw materials compared to Oculus Rift head mount device. Hence raw material suppliers market is diversified to meet the demands of system integrators or manufacturers. Also manufacturers have wide range of suppliers of these raw materials to choose from which gives them more bargaining power to save overall cost.