The Latin America, Middle East and Africa Augmented Reality & Virtual Reality In Manufacturing Market would witness market growth of 30.5% CAGR during the forecast period (2022-2028).
Advanced manufacturers are increasingly utilizing VR to enhance their approach to predictive analytics. While identifying design defects in a product might require weeks of data analysis, digital interaction with the product enables corporations to identify design issues in few minutes. The identical procedure may be used to an entire production line. By analyzing the production process in a virtual setting, producers may identify bottlenecks and improvement opportunities. VR also eliminates the need to construct actual full-scale models, which is highly advantageous in industries like aerospace production where prototyping may be prohibitively expensive.
Another field where VR may be successfully employed is safety. By digitally modelling industrial processes, it is possible to anticipate potentially hazardous behaviours. Ford, for instance, has already cut employee injuries by 70 percent owing to virtual reality. By modelling the actual conditions under which a product would be utilized, the same method may be used to increase customer safety. For instance, automakers may simulate different weather and traffic situations to maximize the safety features of automobiles.
The objective of the Dubai Industrial Strategy is to establish Dubai as a worldwide platform and destination of choice for multinational businesses seeking development and sustainability. The focus is on developing the Aerospace, Maritime, Food & Beverage, Pharmaceuticals & Medical Equipment, Aluminum & Fabricated Metals, and Machinery & Equipment sectors in order to entice international corporations to engage in the Emirate.
The Brazil market dominated the LAMEA Augmented Reality & Virtual Reality In Manufacturing Market by Country in 2021; thereby, achieving a market value of $447 million by 2028. The Argentina market is anticipated to grow at a CAGR of 31.2% during (2022 - 2028). Additionally, The UAE market would exhibit a CAGR of 30.2% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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
• Saudi Arabia
• South Africa
• Rest of LAMEA
• 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.
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free