Global Virtual Reality Software Market – Overview
Virtual reality is the creation of artificial environment with the help of computer embedded software in which user can feel and interact within the artificial environment. In general, VR environment are based on immersion level which are generally referred to non-immersive, semi- immersive, fully-immersive environments.
The rising technical investments, adoption of VR as marketing strategies by various organizations, demand for VR headsets in the area of gaming and entertainments are primarily driving the market. The compact size and light weight of HMD are the significant reasons that they are being adopted in various applications. Virtual reality offers technology upgrade and cost savings. Virtual reality is changing the scenario of how the entertainment industry is. The technical developments steered to rise of virtual reality movie theatres and virtual reality theme park rides. Virtual reality in theme parks is finding stronger base by offering roller coaster rides. These rides combine a real-world roller coaster with a head-mounted display, in which the visuals can be changed by using animation techniques.
During the next two to three years, the virtual reality trend will gain momentum as more companies are learning the importance of VR in the global market level. Some technical giants like Oculus and Vuzix are in second or third iteration of product or service design. 5G technology will be a boost to mobile data performance which benefits the virtual reality. Industry experts consider that the onset of 5G technology will reveal the full potential of virtual reality. There will be a lot of data to be processed within the input mechanisms of VR. 5G faster speeds and lower latency helps in bridging the gap between the VR and speed data requirements. Technologists estimate that by implementing 5G in virtual reality helps in improving traffic capacity, network efficiency and decrease latency over 4G.
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February, 2018 – IrisVR Inc., a leading software and design services provider in virtual reality released a new update to their existing software which consists of meeting feature. This update allows users to meet virtually and can interact with one another. The company used their patented technology and embedded into the device of Iris VR helping in building industry standard 3D models in a better way when compared to other tools like Revit and Rhino.
30 Oct. 2017 – FarBridge Inc, manufacturer of Virtual reality solutions along with CyArk a non-profit organization have partnered with Oculus VR LLC for developing VR based applications. The partnership will help Oculus to develop more realistic replicas using FarBridge technology and can be embedded in headsets of Oculus VR and gear VR.
The prominent players in the Virtual Reality Software Market are – Siemens AG (Germany), ABB Ltd. (Switzerland), Emerson Electric Company (U.S.), General Electric Company (U.S.), Schneider Electric SE (France), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Yokogawa Electric (Japan), Ametek, Inc. (U.S.), Rockwell Automation, Inc. (U.S.) and Fanuc (Japan)
Global Virtual Reality Software Market – Segmentation
The Global Virtual Reality Software Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
- Segmentation by type: Comprises AutoCAD, ZBrush, 3DS Max, Blender
- Segmentation by deployment: Comprises on-premise and on-cloud
- Segmentation by Application: Comprises aerospace and Defense, gaming and entertainment, tourism, healthcare.
- Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
Global Virtual Reality Software Market – Regional Analysis
The global virtual reality software market is studied for North America, Europe, Asia Pacific and Rest of the World. North American holds the major market share for global virtual reality software market. The presence of major technical players, technically developed and advanced region, rise in many start-ups supporting virtual reality are driving the market in this region. Asia Pacific is anticipated to show steep growth during the forecast period. The rise in technological advancements, adoption of VR in entertainment and gaming sector are driving the market in this region. Adoption of VR in manufacturing sector has fuelled the market growth. In the coming days, VR software market will grow substantially by penetrating in to each and every sector.
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