Virtual Reality in Automotive Market to Benefit from the Flexibility in Product Applications
VR in automotive industry offers several advantages with regard to marketing and sales. Several automotive industries showcase their products in a virtual environment to the customers, partners or clients. VR can be a useful asset for manufacturers in terms of automotive marketing. VR can help marketers to create an immersive experience to explore their product.
For instance, showing a car in a completely different scenery such as in a park or other planet would probably drive the interest of the customer to buy the product. VR enables the customers to test the vehicle in any situation they want. This feature has positively influenced the development of autonomous cars.
Late detection and modification of errors in the automotive design would eventually generate some over budgets and delays. VR increases productivity during the vehicle designing phase. The virtual prototype reduces the time and effort required to build a physical prototype. The virtual prototype offers the ability to visualize and simulate the car design so that any design or technical errors would be modified before the final installation of the car.
Indeed, this ability would lead to a drastic reduction in production time and cost. Hence, we can conclude that increasing the need for automotive manufacturers and dealers to improve marketing strategies and optimize production time and cost would drive the market growth during the forecast period.
"Key players in the virtual reality in automotive market, including Google, Facebook Technologies, HTC and others would continue to focus on partnerships and collaborations"
ZeroLight, a strategic visualization partner of Audi, collaborated to develop an advanced high-performance graphics engine. Oculus, now owned by Facebook Technologies, LLC. is the primary project partner of Audi. Most of the VR features provided by Audi would be run on the Oculus Rift headsets.
The Volkswagen Group, Innoactive, and HTC Vive have collaborated to present new VR applications for production and logistics. Volkswagen Group is backing VR solutions for interactive communication in production and logistics. The manufacturer uses the HTC-Vive VR system to provide VR applications.
The VR hardware segment is expected to boom the market growth in the coming years. Advances in VR headsets such as Oculus Rift, Google Cardboard, HTC Vive Samsung Gear VR demand for advanced hardware components to offer better services. Ford and Audi are using Oculus Rift to power their virtual applications.
VR content is estimated to exhibit a remarkable CAGR till 2026. VR content offers instinctive, and contextual training solutions enriched with dynamic content and appropriate guidance. For example, Volvo has released a virtual reality app that enables the users to take a test drive of the Volvo XC90. The Volvo XC90 test drive offers 360-degree video footage with a 3D animation in the interior of the car.
Key industry players such as Ford and Audi have created 3D experience environments that enable the customers to explore different customize car models and colors before seeing them in real-life. Organizations are actively working to offer innovative VR software solutions with a wide range of functionalities. For instance, Audi offers an application for Oculus Rift that enables its customers to view and configure the vehicle as they wish to do.
Furthermore, software developers such as Autodesk offers a range of virtual automotive software’s including Alias, VRED, MAYA, Forge and others these are specifically car design software’s for sketching, concept modeling and digital prototyping.
The report provides qualitative and quantitative insights into the virtual reality in automotive market and detailed analysis of market size & growth rate for all possible segments in the market. Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape.
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