AR and VR are transforming the way manufacturing, industries, factories and others operate, the digital images and data have made the processes much easier. AR adds the digital data on to the real environment allowing the user to explore more details of the real environment. This application of AR is a step ahead of VR application which allows user to view the reality by simulation. AR applications are more feasible as they can be deployed on smartphones and tablets, these applications in industrial scenario help employees to understand the tools, machineries, and other applications include training, diagnosis of the machinery and repair.
Key Players : Artoolworks, Augmented Pixels, EON Reality, Innovega, Kishino Limited, Laster Technologies, Layar B. V., Total Immersion
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 technology used in various application, they are majorly used in sci-fi films, gaming and other entertainment applications since their inception. In recent times, they are trending into many other applications to offer vivid experience to the consumers. Companies are using these technologies to attract customers and provide them with more features in buying or decision making experience. For instance, Jaguar Land Rover’s Virtual Experience enable customers to involve and allow them to interact with all the features of Jaguar and Land Rover vehicle. Potential customers are given an opportunity to experience the entire car virtually, a complete view of exteriors and interiors of the car.
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.
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