Dublin, July 29, 2021 (GLOBE NEWSWIRE) -- The "Global Automotive Virtual Reality Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
The automotive industry has been experimenting with VR in manufacturing facilities and dealer showrooms.
The urgency to digitize retail practices has taken priority like never before. VR offers virtual showroom tours, test drives, and 360 views of vehicle interiors for an immersive customer experience. In OEM manufacturing facilities, prototype designing is simplified using VR simulation and helps in making changes seamlessly. Virtual employee training programs, self-driving vehicle simulation testing, and collaborative design reviews are some use cases that can be implemented through VR.
However, VR inside cars are very niche today. Gaming-capable processors are prerequisites to implementing VR in cars and, hence, VR-based entertainment services will be piloted in premium brands (such as Tesla, Audi) between 2023 and 2025. This study will analyze the different VR applications in the automotive industry and the potential growth opportunities and challenges of implementing VR in connected vehicles.
VR is used majorly in automotive digital showrooms and vehicle production environments for an interactive user experience and improved employee productivity. However, VR in cars is still a niche use case, and is expected to be implemented beyond 2023. VR will be used for entertainment purposes, such as movie streaming, media playback, gaming consoles, virtual tours, and online concerts by passengers in future ownership and usership vehicles.
On-demand digital cockpits will redefine the in-car experience for consumers, with focus on comfort and convenience. Future connected vehicles are expected to have individual sound bubbles and dedicated infotainment screens for each passenger. VR will play a critical role to support virtual entertainment options and provide personalized experiences for passengers.
5G is expected to slowly eliminate the bottleneck of computing power, latency rates, and high-speed network connectivity needed for real-time VR services in the automotive industry. VR will enable automakers to fast-track the self-driving vehicle testing process through multiple virtual simulations. VR simulations will ensure AV safety testing to be done at minimal costs virtually instead of complex road trial programs.
The report predicts that premium vehicles and luxury brands with advanced processors and GPU compute capabilities will be the first ones to launch in-vehicle VR applications. Tesla announced a new gaming computer in Model S and X vehicles to support gaming and entertainment services.
Audi, along with Holoride and Disney, demonstrated an in-car VR experience while the vehicle was in motion. Such developments indicate the inclination of premium brands such as Tesla and Audi to implement VR in vehicles. OEMs such as VW and BMW are expected to follow suit.
The overall cost of a VR setup is expensive and can be integrated with only high-performance computing devices to see the best results, thereby, increasing the overall service subscription costs for passengers. For a fully immersive experience, a 360-degree view is critical in VR.
This requires robust Internet connectivity throughout the vehicle journey with low latency rates and higher speeds. Else, the VR experience will be poor with less real-time response and a disorientating experience that can lead to motion sickness for users. Lack of regulations to monitor automotive VR deployments, safety protocols, and best practices when viewing VR content will challenge VR implementation in vehicles.
Key Topics Covered:
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative
The Impact of the Top Three Strategic Imperatives on Automotive VR Industry
Growth Opportunities Fuel the Growth Pipeline Engine
Growth Opportunity Analysis, Automotive VR Market
Virtual Reality in the Automotive Industry - Key Findings
Global VR Ecosystem Overview
VR Ecosystem Classification
Hierarchy of VR Technologies
Current VR Headset Offerings in the Market
Automotive VR Market - Scope Analysis
Automotive VR Segmentation in the Industry
Key Growth Metrics for VR in Connected Cars
Forecast Assumptions, VR in Connected Cars
Growth Drivers for Connected Cars VR Adoption
Growth Restraints for Connected Cars VR Adoption
Connected Cars With Embedded Telematics: Forecast to 2030
VR in Connected Cars Penetration
Connected Cars With VR - Bearish Scenario
Connected Cars With VR - Likely Scenario
Connected Cars With VR - Bullish Scenario
Analysis of VR Growth Factors in Different Scenarios
Automotive VR Overview, Trends Analysis and OEM Initiatives
VR Application by Industry for Business and Consumer
Automotive VR Drivers - Regional Impact Analysis
Automotive VR Challenges - Regional Impact Analysis
Key VR Applications Focused on by Automakers
Key Automotive VR Focus - Western Companies
Key Automotive VR Focus - Japan and Korea
Key Automotive VR Focus - Chinese Companies
VR in Future Cockpit Entertainment Features
What is the Customer Willingness to pay for In-Vehicle VR?
Case Study: Audi and Holoride's Cockpit Technology
VR for Driving Simulation and Vehicle Configurator
VR for Internal Training Programs
VR for Industry 4.0 and Digital Showrooms
Next Gen Automotive VR Solutions for Consumers
Customer Expectation From Virtual Reality
Key Parameters - Satisfaction Versus Importance
VR/AR Automotive Use Case - Benefit Versus Complexity
Current and Future Trends of Virtual Reality in the Automotive Industry
Impact of 5G on VR Applications
5G is a Key Enabler in VR Deployment
Future Automotive VR Offerings and Their Impact
VR Impact on Autonomous Vehicles
VR's Impact on Connected Mobility
VR's Impact on Shared Mobility
VR's Impact on Electric Vehicles
Different Types of VR Devices for an In-vehicle Experience
Automakers' Roadblocks to Implement VR in Vehicles
Virtual Reality Supplier Ecosystem and Competitive Analysis
VR Ecosystem by Type of Participant
Traditional VR Value Chain
Revenue Model in the VR Ecosystem
Key Comparison Between Key VR Headset Providers
Automotive VR In-Car Sensor Requirements
VR Headset Breakdown by Suppliers
Summary of Key VR Suppliers in Automotive
Key Global VR Start-ups Working in the Automotive Space
Conclusions and Future Outlook
Key VR Use Cases for OEMs - Future Potential
Key Conclusions and Future Outlook
Growth Opportunity Universe, Automotive VR Market
Growth Opportunity 1: 5G Connectivity Will Spearhead the VR Technology in Connected Vehicles
Growth Opportunity 2: VR Will Continue to Drive Productivity Use Cases in Vehicle Manufacturing Plants
Growth Opportunity 3: Future Digital Cockpits Will Drive VR Adoption for Gaming and Entertainment Services
For more information about this report visit https://www.researchandmarkets.com/r/99g86p
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