Customers may take virtual test drives and examine the car's features, including parking assistance and reverse view cameras aligning with customer preferences
With the aid of VR technology, the automobile sector is acquiring a variety of advantages for car marketing and sales. It aids in the creation of an immersive experience in order to give a better consumer experience. Furthermore, with the aid of VR in automotive, dealers may demonstrate automobile designs and features to their clients. However, VR simulators are unable to provide flexibility during training sessions.
On-demand digital cockpits will alter consumers' in-car experiences, with a focus on comfort and convenience. Future connected vehicles will cover infotainment screens and individual sound bubbles for each passenger. VR will be critical in allowing virtual entertainment options and tailoring experiences for passengers. 5G is projected to break the bottleneck of computational power, high-speed network connectivity, and latency rates required for real-time VR services in the automobile sector.
The VR simulator is finding increasing use in the automobile sector. It is frequently used, for example, to build virtual environments for automotive manufacturers and dealer centers. Simulators in the automobile production unit may give new staff excellent learning sessions. It may, however, be used for prototyping and developing new automobiles. For instance, Skoda and Volkswagen group automobile makers utilized the VR simulator to develop the outside and inside of the model in a 3D perspective.
It provides a virtual depiction of an automobile with attributes such as size, color, design, construction, and more. Furthermore, these virtual designs aided the company's engineers in checking and detecting model flaws. Similarly, it provides automobile evaluation features to clients at the dealer's showroom. Customers may take virtual test drives and examine the car's features, including as parking assistance and reverse view cameras. This is anticipated to speed up the use of VR in automobile sector.
The global virtual cars market is split into applications like designing and prototyping, research and development, virtual showrooms, training, and others. In 2019, the training category accounted for 27.2 percent of the virtual reality market share in the automotive industry. This growth can be ascribed to VR technology's ability to deliver substantial industrial training to workers and engineers. Besides that, it significantly decreases the rate of mistakes and provides a safe atmosphere for trainees. These features are working extensively to propel the global virtual cars market.
On the basis of geographic distribution and revenue potential North America emerged as a significant growth hotspot. This growth might be attributed to the key automakers in the US. They are hugely capitalizing on R&D. The American Automobile Council predicts that car production in the United States will surpass 12 million by the end of forecast period.
The major players of the global virtual car market are Continental AG, Garmin Ltd., DENSO Corp., Hyundai Motor Co., Microsoft Corp., JAGUAR LAND ROVER AUTOMOTIVE PLC, Nippon Seiki Co. Ltd., Robert Bosch GmbH, NVIDIA Corp., and Volkswagen AG.
This market research report on the global virtual cars market takes into consideration various factors such as price analytics, micro and macro economic attributes, strategic and commercial investments by key players, trend assessment, as well as segment-wise review to understand market prognosis.
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Key Segments of the Global Virtual Car Market
Application Overview, 2018-2028 (USD Million)
- Designing & prototyping
- Research & Development
- Virtual Showrooms
Component Overview, 2018-2028 (USD Million)
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and Africa