Augmented reality (AR) is a term used to identify a set of technologies that allow the view of the real world environment to be augmented or enhanced by computer-generated elements or objects. The visual perception of elements in the physical environment is enhanced through the use of computing devices. An emerging area of AR applications is the manufacturing industry, which is concerned with the process of transforming raw materials into finished goods with added value. Manufacturing companies need real-time information exchanges at various stages of the product lifecycle such as design, prototyping, production, assembly, maintenance/repair, etc. This is due to rapid globalization and increase in the complexity of internal processes and supply chains. In this scenario, AR can be of great help because of its capability to simulate, assist, and improve the processes before they are carried out.
MARKET SCOPE
The "Global Augmented Reality in Manufacturing Market Analysis to 2028" is a specialized and in-depth study of the electronics and semiconductor industry with a special focus on the global market trend analysis. The report aims to provide an overview of the augmented reality in manufacturing market with detailed market segmentation by component, application, and geography. The report provides key statistics on the market status of the leading augmented reality in manufacturing market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- ?Based on component, the global augmented reality in manufacturing market is segmented into hardware, and software.?On the basis of application, the market is segmented into data management, staff training and development, equipment maintenance, quality assurance, and local deliveries.
Drivers:
- ?Increase in the development and adoption of AR capable wearables and systems such as Microsoft's Hololens and the Oculus Rift..
- ?Higher costs and complexities involved in integration of augmented reality in manufacturing tools for different industry sectors.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The augmented reality in manufacturing market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the augmented reality in manufacturing market in these regions.
IMPACT OF COVID-19 ON AUGMENTED REALITY IN MANUFACTURING MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the augmented reality in manufacturing market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from augmented reality in manufacturing market are anticipated to lucrative growth opportunities in the future with the rising demand for augmented reality in manufacturing in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the augmented reality in manufacturing market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ?Blippar?Boeing?Google, Inc.?Magic Leap?MAXST?META?Microsoft?Robert Bosch GmbH?Samsung Electronics?Smart Reality