Global Enterprise VR Solutions Market - Introduction
- Enterprise VR solutions provide management tools & device set up, and enterprise-grade service and support; for large-size enterprises as well as for small-size enterprises. Virtual reality training programs in enterprises help to reduce employee’s training time and improve employee performance as compared to traditional training.
- Virtual reality can help to eliminate some of the hidden costs of employee training related to employee’s time, facilities, travel, materials, and equipment. Moreover, VR technology in enterprises is being utilized to improve efficiency & safety, streamline workflows, and help to manage the complexity of tasks. Enterprise VR solutions are majorly distributed one the basis of enterprise size includes large as well as small & medium size enterprises.
Rapid adoption of immersive virtual reality driving the enterprise VR solutions market
- Rapid increase in rate of adoption of immersive virtual reality is significantly driving the global enterprise VR solutions market. Immersive VR technology provides experience of a virtual environment either in a realistic manner or with the help of several control devices such as projection systems, head mounted displays, and gesture tracking devices. Semi-immersive technology offers a better feeling of the virtual world with the help of a large monitor or several projection systems, whereas fully immersive VR technology aids users to feel the virtual world in a realistic manner. Devices such as virtual reality goggles or head-mounted displays (HMD) provide a fully immersive virtual reality environment for users, which will significantly boosting the growth of enterprise VR solutions worldwide. Various potential applications of immersive virtual reality systems can be used for information visualization by enterprises for educational or training purposes. Therefore, rapid adoption of immersive virtual reality is significantly driving the growth of the enterprise VR solutions market worldwide.
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Lack of awareness in under-developed countries hampers the market
- Rate of adoption of enterprise VR solutions is significantly low in under-developed economies as compared to developed economies. Lack of awareness and lack of proper infrastructure in these countries leads to significantly slow adoption of VR solutions among enterprises. Users are still un-aware about the advantages of enterprise VR solutions; therefore, lack of awareness in under-developed countries is hampering the growth of the enterprise VR solutions market. However, governments in these countries are focusing on investing in the development of organizations structure, which is expected to overcome from this challenge in the near future for the growth of the enterprise VR solutions market.
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North America to Hold Major Share of the Global Enterprise VR Solutions Market
- In terms of regions, the global enterprise VR solutions market can be segregated into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is expected to hold a major share in global enterprise VR solutions market during the forecast period, this likely due to high penetration of VR devices across the region
- On the other hand, Asia Pacific is expected to be a fast expanding region in global enterprise VR solutions market, due to advancement of technology and growing digitization, specifically in the countries such as China, Japan, and India.
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Global Enterprise VR solutions Market- Competitive Landscape
Key Players Operating in Global Market:
Samsung Electronics Co. Ltd.
- Founded in 1969 and headquartered in South Korea, Samsung Electronics Co., Ltd specializes in offering information technology and mobile communications, consumer electronics, and device solutions across North & South America, Europe, Asia Pacific and Middle East & Africa. The company also offers AR & VR solutions, smart home solutions, and security cameras across commercial, government, and industrial verticals.
- Founded in 1988 and based in California, the U.S., Google is a multinational company that develops and provides Internet-based products and services worldwide. The company’s core products include Google Search, maps, Android platform, Chrome browser, YouTube, Google Play, Gmail, and smartphones. Additionally, it provides AR/VR solutions for large enterprises and small & medium enterprises. The company introduced the new technological advancement n VR technology by providing the Google Earth VR for HTC and the Oculus Rift VR headset to enhance the customer experience in VR solutions worldwide.
- Founded in 1975 and headquartered in Washington, U.S., Microsoft is a multinational company that designs, develops, manufactures, and sells consumer electronics products, computer software, personal computers, and augmented reality & virtual reality products and related services across the globe. The company has more than 100,000 employees across 170 countries worldwide.
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