Virtual Reality in Manufacturing Market to Record CAGR of 27.2% Over 2024-2032; Trend for Adopting High-Performing VR Devices to Drive Market Growth

The global virtual reality in manufacturing market size was valued at USD 4.50 billion in 2023. The market is projected to grow from USD 5.69 billion in 2024 to USD 38.93 billion by 2032, exhibiting a CAGR of 27.2% during the forecast period. Fortune Business Insights™ presents this information in its latest report titled “Virtual Reality In Manufacturing Market Size, Share & Industry Analysis, By Deployment Type (On-premise and Cloud), By Product Type (VR Headsets, VR Gears, and Others (VR Simulation software)), By Application (Product Design and Development, Safety and Training, Quality Control and Maintenance, Collaboration and Simulation, and Others (Floor Planning)), and Regional Forecast, 2024 – 2032”. VR technology is transitioning from niche markets to mainstream applications, focusing on skill enhancement and immersive simulations that facilitate practical learning experiences. The latest trend of increased manufacturer interest is fueled by the availability of affordable, high-performance VR devices, driving investments and enhancing remote collaboration in training and production activities.

The COVID-19 pandemic accelerated the adoption of VR technologies in manufacturing as companies prioritized productivity. Increased investment and emerging start-ups have boosted demand for VR solutions.

Siemens Launched New Update In NX Software For Improved Collaborations For Users

In July 2024, Siemens, launched a new collaboration featuring the latest update into its NX software from the Siemens Xcelerator portfolio. The feature allows improved collaboration amongst users through the cloud on NX and ZelX products where customers can expect more immersive electromechanical workflow and AI generative design capabilities.

Technological Innovations to Fuel the Market Growth

The virtual reality market for manufacturing is rapidly expanding, fueled by technological innovations and increasing interest in immersive solutions. VR enables users to engage in computer-generated environments using headsets and equipment that replicate physical presence.

On the other hand, decline in the product sales and complexities associated with the integration of the technology is expected to hamper the virtual reality in manufacturing market growth.

Key Players Investing in R&D Activities to Augment Product Capabilities

The integration of virtual reality in manufacturing is rapidly evolving, driven by key players investing in R&D to enhance product capabilities. Notably, Toyota's collaboration with Reality Matters utilizes HTC Vive for training assembly workers in hand movements and IT system operation. Such initiatives are transforming training methods, reducing development lag, and equipping workers with essentials for the future. 

Notable Industry Development:

• March 2024: Siemens deepened its collaboration with NVIDIA to develop an industrial metaverse. The initiatives aimed to deliver an immersive visualization solution that integrates Siemens Xcelerator with NVIDIA Omniverse Cloud APIs, facilitating collaborative, real-time-time, physics-based visualization driven by Gen AI. 

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/virtual-reality-vr-in-manufacturing-industry-101714

List of the Companies Profiled in the Report:

• Unity Technologies (U.S.)


• Microsoft (U.S.)


• Google (U.S.)


• Sony (Japan)


• HTC Corporation (Taiwan)


• Samsung (Korea)


• Meta (U.S.)


• EON Reality, Inc. (U.S.)


• Magic Leap, Inc. (U.S.)


• WorldViz (California)


• NextVR Inc. (U.S.)


• NVIDIA Corporation (U.S.)


• Varjo Technologies (Finland)


• DPVR (China)

Further Report Findings

• China is slated to capture the key virtual reality in manufacturing market share with its substantial applications of advanced remote assistance and collaboration capabilities, supported by competitive technological upgrades at minimal costs.


• Europe is poised for consistent growth in VR adoption, emphasizing innovations and automation to boost productivity within established manufacturers. Germany and the U.K. lead the way in implementing VR technologies to enhance workforce efficiency in manufacturing operations.


• On the basis of deployment type, the integration of cloud technology with private 5G networks is set to dominate VR in industrial environments. This technology enhances self-assist and remote assist functions, providing real-time support for tough tasks with low latency.


• In terms of application, product design and development segment is fueled by VR-enhanced capabilities for handling intricate 3D models, requiring robust computers and specific software. As a result, VR headsets are poised to broaden their applications in the manufacturing sector during the forecast period.

Table of Segmentation