Category Archives: Virtual Reality

Brooklyn, NY, May 13, 2020 (GLOBE NEWSWIRE) -- - Cemtrex (Nasdaq: CETX, CETXP, CETXW) announced today that it has received an order from VF Corporation (VFC) to build a virtual reality (VR) application. The VR application is aimed for corporate and third party use around creating better retail experiences for customers. The application also provides training solutions for VF Corps employees and its retail partners.

In the wake of COVID-19, many companies are turning to virtual reality to deliver on the needs of customers while getting around social distancing protocols. Virtual reality provides new avenues for collaboration, training, and engagement around employees that are now working from home. Additionally, VR offers companies the opportunity to reach customers at a time when almost all retail stores are shuttered with no end in sight. Many companies like VF Corp are getting out in front of the challenges stay-at-home orders have presented by investing in the latest VR technology to adapt in this rapidly changing environment. Cemtrex already has a head start in developing VR applications and has developed numerous VR applications and products for a diversified group of clients over the past two years.

CemtrexLabs, a division of Cemtrex, will be delivering the application within this quarter and it will be built on Oculus Quest. The Company sees this order as a long-term opportunity to work with VF Corp to roll out cutting-edge, VR applications, that can scale across their many brands and retail touch points.

CemtrexLabs is an award winning, full-stack creative agency made up of artists, designers and engineers who have worked with some of the worlds leading brands, such as Richemont, AARP, Live Nation, Essence and WMagazine, to create engaging experiences and elevate their digital presence in their industries. CemtrexLabs has expertise in AR/VR development, machine learning (ML) and Artificial Intelligence (AI), user experience and interface design, data migrations/ re-platforming, web, and mobile. They offer help from developing brands strategy to engineering concepts into a reality.

Chairman and CEO of Cemtrex, Saagar Govil, commented, We are continuing to see increased demand for virtual reality development services, and we believe this market is going to explode over the next 24 months. More and more companies and organizations are converging on virtual reality as the long-term solution to foster engagement, collaboration, and innovation in this new environment. As one of the leading developers in the space, we believe we are well positioned to capitalize on this market as it continues to expand.

Augmented and Virtual Realities are among the fastest growing business areas, which are expected to reach over $500 billion by 2025. The industries that will generate VR and AR opportunities include industrial design, medical diagnostics, entertainment, sports, training simulations, productivity tools, social experiences, manufacturing optimization, app development, tourism, & advertising. All industries whether retail, education, social media, healthcare or manufacturing, will experience widespread disruption and innovation in their products and services by utilizing VR & AR solutions to increase their profitability in the coming decade.

About Cemtrex

Cemtrex, Inc. (NASDAQ; CETX) is a diversified technology company that is driving innovation in a wide range of sectors, including Internet of Things (IoT) devices, virtual and augmented realities (VR & AR) applications and development, intelligent security systems leveraging Artificial Intelligence (AI), and industrial solutions. http://www.cemtrex.com

About Cemtrex

Safe Harbor StatementThis press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to our new product offerings or any proposed fundraising activities. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading "Risk Factors" contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.

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Investor RelationsCemtrex, Inc.Phone: 631-756-9116investors@cemtrex.com

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Cemtrex Receives Virtual Reality (VR) Application Order from VF Corp - Yahoo Finance

When Facebook announced they were acquiring VR pioneer Oculus in early 2014 for $2 billion, I was a bit perplexed. Less than two years removed from its splashy debut on Kickstarter, Oculus flagship Rift headset still a developer kit at that time was under new ownership after having been marketed exclusively as a gaming accessory.

Many believed VR would take video games to the next level. Legendary game maker John Carmack was so convinced that he resigned from id Software to devote his full attention to Oculus as the companys CTO.

Facebook was also building a name for themselves in the gaming industry as they served as the backbone for social networking titles like FarmVille and Mafia Wars. Perhaps Facebook had a genuine interest in realigning itself with gaming and intended to use virtual reality as a vehicle to do just that?

Well, not so fast.

While Facebook would continue to dabble in VR gaming over the next several years, it became clear that founder Mark Zuckerberg had other plans for Oculus. Zuckerberg said at the time that mobile was the platform of today but Oculus had the opportunity to help create the most social platform ever and change how we work, play, and communicate.

Zuckerberg let us in on that vision a few years later. At the 2017 F8 developer conference, Facebook launched an open beta for Facebook Spaces. Spaces was a VR version of the social network where people could interact in imaginary environments as cartoon-style avatars.

The keyword here is was. Facebook abandoned Spaces last year alongside Oculus Rooms, an app that let users create virtual spaces and invite friends to hang out, watch movies, play games, and so on.

Spaces seemed solid enough in theory but like many early virtual reality games, it was lacking. The whole thing felt primitive and rudimentary more like a tech demo than a compelling experience with any true depth or fun factor. Simply, Spaces wasnt as good as what it was trying to replace, just as early VR games couldnt hold a candle to traditional games.

Many factors contributed to VRs early fumbles, although this was to be expected for novel technology. Initial VR goggles were bulky and expensive, requiring powerful computers to drive their visuals. Even with a capable computer, the optical components within the goggles werent up to snuff, resulting in shortcomings like a limited field of view and a screen door effect due to low resolution panels.

The industry attempted to address the high cost and low adoption of VR headsets by joining forces with handset makers to create VR viewers that relied on smartphones to power their experience. The most famous example of this came through a collaboration involving Samsung and Oculus known as the Gear VR.

Consumers showed some initial interest in these at first but that didnt last. Samsung has since abandoned support for Gear VR.

So where does VR stand today? Thats difficult to say, really.

On the gaming front, titles like Eve: Valkyrie, Resident Evil 7: Biohazard and No Mans Sky have all moved the needle in a meaningful way although none more so than Half-Life: Alyx. Valves VR adventure has earned top marks (92/100) and is considered by many to be a medium-defining game.

All of these titles are far more complex than the first wave of VR titles (heres looking at you, Job Simulator) and a lot more fun, too. VRs trajectory could have looked much different had quality games like these been available a few years earlier.

The hardware is getting better, too, across a variety of price points.

The Valve Index, launched nearly a year ago, remains a hot commodity thats still tough to come by. The standalone Oculus Quest, which can also be plugged into a PC, continues to be a top contributor as one of Facebooks non-advertising revenue streams. In the most recent quarter, Facebook said this division generated $297 million in revenue, an 80 percent increase compared to the $165 million its non-advertising bets brought in during the same period a year ago.

According to Steams April 2020 hardware survey, fewer than two percent of users have VR headsets. Sony has done alright with its PlayStation VR, having moved in excess of five million units, but thats still just a fraction of the more than 106 million PlayStation 4 consoles that are in the wild.

The third pillar social is arguably the furthest behind the eight ball.

Oculus said last year that it was working on a successor to Facebook Spaces. Currently out in beta and scheduled to launch on a larger scale sometime in 2020, Horizon will task newcomers with creating an avatar to express their individuality. From there, youll be dropped into a bustling town square where you can meet and mingle with others or teleport to new worlds filled with adventure and exploration.

Using the World Builder, anyone will be able to create new worlds and activities, from tropical hangout spots to interactive action arenas where you can build, play or simply hang out. That all sounds a bit exhausting, no?

Facebook Horizon feels more akin to experiences we already have. Online virtual world Second Life launched way back in 2003. Minecraft has supported VR since 2016. And most recently, Epic added a Party Royale mode to Fortnite that delivers a virtual playground loaded with all sorts of activities that actually look fun.

Even with better games and more impressive hardware, the sobering realization is that VR remains far from widespread adoption.

Even with better games and more impressive hardware, the sobering realization is that VR remains far from widespread adoption. Without a strong social presence, itll be that much harder for virtual reality to garner the mainstream traction needed to reach the masses and become a game-changing medium.

Facebook may have had a once-in-a-lifetime opportunity to capitalize on an unfortunate circumstance with the pandemic. Practicing social distancing with stay-at-home orders in place for two months now (and counting) would have given people the time, opportunity, and desire to connect with others through virtual reality. It could have supplemented human interaction at a unique time when we are being told to stay away from others.

Perhaps the situation hit us, but VR in general is simply not there yet.

You may argue Facebook has squandered a major opportunity. Much of Oculus original staff has departed over the past few years including co-founders Palmer Luckey and Brendan Iribe. Carmack also stepped down as CTO to focus on artificial intelligence.

Six years in, it's clear Facebook is no closer to figuring out social VR than it was when it bought Oculus. Perhaps fortunately, Facebook doesnt have a monopoly on social media and virtual reality. While the company is in the best position to explore social connectivity with VR, the market is wide open for anyone to swoop in and create a compelling experience. Things will eventually go back to normal but theyll never be the same again.

Image credit: Andrush, Road to VR, Tinxi, GamerToTheEnd, IRINA SHI

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Is Virtual Reality Missing Its Moment? - TechSpot

InTheVR winter Benedict Evans writes about virtualreality and its failure to take off:

Silicon Graphics teased journalists with a vision ofhow the technology might work for business analytics. Itsounded convincing at the time.

The idea went somethingalong these lines:

And soon..."

A more practical and topical use ofimmersive three-dimensional graphics might allow researchersto walk around and explore a giant model of, say, a virus tohelp identify weak spots that medicine or a vaccine couldaddress.

In his story, Evans works through most of thereasons why virtual reality never took off. In part it wasalways too niche. He offers other reasons, but I think hemisses something in his story.

I've yet to see a VRexperience which is not so bad that I'm embarrassed for thepeople who made it. There was a VR presentation at anAuckland press conference a year or so ago. Apart fromfeeling slightly sick and disoriented during thepresentation, it was, to say the least unimpressive.

Threeyears ago at Mobile World Congress a slew of mobile handsetcompanies showed VR systems based on phones. There were atleast seven displays, but between them there were only twopieces of content on show. Most shared the same rollercoaster ride VR demonstration.

At the time I noted thatthe fact so many huge names had to show the same content atone of the world's biggest tech events implied there'sprecious little worthwhile content. At last year's MobileWorld Congress, the most visible VR content was the samedemonstration. The technology may or may not have beenbetter. Either way it left me cold. Yet the companiespushing it hadn't bothered to invest in creating the contentto show it off.

For VR to take off it needskiller content, but creating immersive, high resolutioncontent is expensive. Far more expensive per minute ofcontent than the cost of a blockbuster movie. And yet almosteveryone can watch a blockbuster movie. Only a handful ofpeople can watch VR. Not enough to make it worth creatingthat blockbuster content.

So until this is resolved oruntil someone creates a mainstream business applicationusing the technology, VR going to remain a backwater. Everyso often the idea will get dusted down and presented againbefore it's put back in the too hard basket.

Benedict Evans on the virtual realitywinter was first posted atbillbennett.co.nz.

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Benedict Evans on the virtual reality winter - Scoop.co.nz

Digital visualisation and virtual reality company Bloc Digital has created a North American office and appointed its first permanent US member of staff.

The Derby-based firm, which supports business through 3D modelling, animation, immersive (VR and AR), and web solutions, has experienced rapid growth within UK and European markets in the last five years.

Director Keith Cox said: The digital nature of our business means we have a truly global reach, being able to work with international customers as easily as those based within the UK.

We have been enjoying fundamental growth in the North American manufacturing and technology sectors over the past 12 months, with income generated there multiplying by more than a factor of 10. The establishment of a permanent US base is a logical and strategic development to continue our strength.

Bloc Digital was founded as a start-up in 2000 by Keith Cox and Chris Hotham, both former technical illustrators.

The business now has a growing portfolio of international clients across engineering, pharmaceutical, technology and manufacturing sectors. It has simultaneously expanded into a wider Bloc family with three new specialist markets (Bloc Media, Bloc Creative and Bloc Arch Viz) and now employs 50 people across the four divisions.

The appointment of US Client Manager Sam Swayze, who will focus on developing engineering and manufacturing markets, marks a significant milestone in the companys development.

Creative Director, Chris Hotham said: Recent global events have shown the increased need for businesses to embrace digital technologies and solutions, particularly within virtual and augmented reality environments.

Our solutions and products deliver real-time benefits to businesses, enabling them to work smarter, operate more efficiently and deliver greater impact. Were incredibly proud of our US growth, to be flying the flag for UK talent, skill and success and strengthening our position at the forefront of this industry.

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US expansion for Derby digital visualisation and virtual reality company - East Midlands Business Link

A few years ago, asking people to imagine themselves in alternate universes at the click of a button seemed like something out of a sci-fi movie, but today thats a reality: virtual reality.

Virtual reality (VR) is a simulated, physical-like environment created by computers using immersive design and sight and sound. Its one of the most exciting technologies that has been developed, and it is only growing more popular every year.

In fact, according to a 2020 report, the market size of consumer virtual reality hardware and software is set to spike from 6.2 billion US dollars to more than 16 billion U.S. dollars by 2022. With figures like this, its worth exploring just why people are so excited to get behind VR, and what its future trends in the industry look like.

Virtual reality today is already making huge strides in its application ranging from games to education, but the future has even more exciting things in store:

Chunky headsets and short battery life are two things that give VR a bad name. Thankfully, the future of VR promises improvements in both of these areas. Googles Daydream View, for instance, comes with customizable hardware, 12-hour battery life, and a remote all at an affordable price. Headsets in the future are expected to have that and more, including in-built cameras to blend the real and virtual. In fact, an article in Forbes points to Apples possible 2020-2021 release of 8k VR/AR glasses. These glasses could be untethered from computers or smartphones, have built-in cameras, and operate on Apple processors. This is far superior to what is currently in the market.

Artificial Intelligences (AI) unique ability to recognize, learn, and then generate patterns when combined with VR could mean a whole new world of possibilities. A glimpse into this future comes in the form of the use of artificial intelligence to reduce motion sickness in VR users presented by LG. In addition, Facebooks DeepFocus framework uses AI for focus effects, and Google has used machine learning tools to add controller-tracking to standalone headsets.

The ingenious use of sight and sound makes VR an immersive escape, but users still feel the virtual more than the reality. In the future, expect all that to change with haptic feedback.

Specifically, Haptic feedback systems will simulate the sense of touch through gloves or other wearable devices, reports Maryville University. Not only will you be seeing and hearing new things in these virtual universes, but youll be able to touch them too.

The buzz 5g has created has developers dreaming of endless VR possibilities. With data speeds like never before, the Forbes article noted above predicts that VR data will be streamed to headsets directly from the cloud. What this means for consumers is that headsets wont need to be tethered to high powerful PCs anymore, and as developers create high-quality graphics in the cloud, they can be streamed to the headset in real-time.

While these factors affect the technology itself, lets also take a look at how consumers are expected to use VR differently in the future. Many people associate VR with gaming and entertainment, but future trends show that VR is making waves in applications beyond that. Research from the XR Industry Insight report shows that 65 percent of surveyed augmented reality (AR) companies are developing industrial applications and only 37 percent of them are building consumer products.

Its no surprise that VR is helping to change the landscape of the healthcare system. Today, paramedics are using VR to rehearse and prepare for dangerous situations, and surgeons are simulating practice operations. Some companies are using VR to treat vision disorders as well as using VR to help individuals with autism develop social and communication skills.

Another project that paints a picture of the future of VR in healthcare is artist Sander Bos Visionarium psychedelic experience, which is helping researchers understand how psychedelic drugs affect patients. VR in healthcare is on a steady path. The global AR and VR market in healthcare is projected to hit 10.82 billion U.S. dollars by 2025.

VR has become the talk of the education industry because of the incredible impact its already created, which is only set to increase. VR shown to make learning more engaging can be used to help students learn remotely and help them practice experiments and activities without physical risk.

VR also helps improve learning recall, as demonstrated by Stanfords SOAE project. The project found that participants test scores on the subject of ocean acidification increased by more than 100 percent three weeks after their VR experience. Corporate education and training through VR are also set to rise. In fact, Walmart has already started using 17000 Oculus Go headsets to train employees in customer service.

As art, education, and entertainment progress, so will the advertising industry. Analytics Insight predicts that VR will be used in native advertising to give customers a seamless, up-close understanding of products to persuade purchasing decisions.

Although not yet completely mainstreamed, theres no doubt VR will change the human experience. Virtual reality may have shot to fame because of immersive gaming and entertainment, but with its transformative abilities, the future looks bright for VR across the board.

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7 future trends in virtual reality technology - The Burn-In

April30, 20207 min read

The first thing you notice after strapping on a CEEK Virtual Reality headset is that the seats in its simulated theater are empty, which isan eerie approximation of the atmosphere in shuttered concert venues and movie houses around the world. A product that was designed to simulate a commonplace, but often inaccessible, consumer experience like attending a Lady Gaga concert at Madison Square Garden or witnessing U2 wow thousands at Rose Bowl Stadium, both CEEK offerings hassuddenly become its closest real-world designate.

This was not what the companys founder and CEO, Mary Spio, had in mind when she launched CEEK in 2015. The venture was an entrepreneurial step in her career, which began with training as an Air Force engineer and evolved into groundbreaking work as a satellite-communications designer for NASA and Boeing. (The tech she helped pioneer for the latter was commercialized by Lucasfilmin the Star Wars franchise.)

Ideally, CEEK which boasts proprietary tech and streaming capabilities and is blockchain-enabled would gradually be embraced by both artists and the public as a way to augment their relationship to live entertainment. If she built it, Spio reasoned, content partners and consumers would come. And over its five-year existence, they have. Shows, one-off performances and interviews from the likes of U2, Snoop Dogg, Miley Cyrus and Megadeth are streamable in 2D via their website and can also be viewed through the CEEK app in 360 mode, as well as with itsVR headset. But it's been a slow burn.

The idea was initially that this is something that could just augment things for [the artist], not replace the communal, in-person experience, explains Spio, who was born in New York and raised in Ghanaand currently resides in Chicago. Think of bands like Guns N Roses. They would sell out a million tickets in 24 hours. Or Adele, who was selling 100,000 tickets and 10 million people tried to buy them. This is a way to extend the reach. But it was not a real consideration for a lot of artists because they were thinking, Well, I'm doing just fine.

Image Credit: CEEK VR

Thenin March, performances spaces closed indefinitely, and interest in CEEK accelerated. Existing partners like Bon Jovi and Demi Lovato contacted Spio, eager to quicken the pace with which they couldrollout VR offerings, and the number of outside queries from potential new clients swelled.

Related: What It's Like to Live and Game Together Around the Clock

As Spio surmises, Now, once [artists] get to experience it, they realize, Hey, I have fans that might never be able to see me. It has them looking at where the void is right now and seeing a real revenue generator that they could still reach a million people who are paying to come and see their concert.

Not all artists needed such convincing. Legendary standup comedian D.L. Hughley who along with Bernie Mac, Steve Harvey and Cedric the Entertainer, comprised one-fourth oficonic late-'90s touring outfit the Kings of Comedy is always eyeing ways to be innovative, and CEEK was on his radar long before comedy clubs started closing their doors as part of stay-at-home orders. Hed already inked a deal with Spio for real-timeVR broadcast of an upcoming series of dates, an endeavor that has since been reimagined as a single, first-ever, virtual reality standup show, CEEK VR Presents: The Laugh Experience, which will stream onCEEK.com and through its headset (by way of the CEEK app) on May 15 at 9 p.m. While he's rolled with the punches, Hughleycertainly didnt anticipate the special doubling as a bellwether for how his medium might survive in the coming months and maybe beyond.

I didnt know this would take social distancing to its natural conclusion, he deadpans about the newly streamlinedLaugh Experience experiment. But whenever there are times like this, innovation and technology spring forward. [CEEK] has a chance to become imbued in the nations psyche at a time when things were changing, and become something that was comforting and that changed the landscape. We dont know what will be after this, but one thing it doesnt hurt to have is the ability to see things at a safe distance, and I think this is all of that.

Related: How a Mid-Size Wrestling Company Made Major Adjustments in the Empty-Arena Era

Spio, in turn, credits Hughley with keeping things laid back as they approached the project with an entirely new sense of urgency and unprecedented set of challenges. As a comedian, he's always making light of things, confirms Spio. He's very flexible and adaptable.

CEEK CEO Mary Spio/Comedian D.L. Hughley

Image Credit: CEEK VR / Dave Tada

Still, once they agreed the show must go on, there was the inescapable fact of how that could happen with Hughley, and audiences, locked down at home.As Spio recalls, The conversation had a turn to, OK, now we kind of have to speed up the home-studio component of this because you can't actually even be out on the road.

While there had been an eye on those kinds of developments down the line, CEEK suddenly had to build on the fly and test out everything and get it out to Hughley almost overnight, Spio says, still somewhat in awe that it all came together.

Laughing, Hughley rememberswhen something resembling a spy briefcase arrivedat his door. My wife was like, I'm not gonna open that till I find out what it is. It was real Mission: Impossible-type shit. I was like, Goddamn, they aint playing.

He would have ordinarily had his more tech-savvydaughter assist, but she was isolating in a separate location. So Hughley waded in solo. This is how simple it was, he says. I did it without having to call anybody, with an emphasis on the I, suggesting hes not normally self-sufficient when it comes to putting together sophisticated audio-visual accompaniment to his sets.

The "spy briefcase" sent to D.L. Hughley's house for home-studio production.

Image Credit: CEEK VR

Like everyone else who relies on the connection between performer and audience, Hughley is hopeful that hell packing ampitheaters again soon, but he also knows The Laugh Experience represents an opportunity to make history in a historic time. Its very important that it gets the launch it deserves, he says. Because people are always going to want to be entertained, but they want to do it in a way thats safe.

Its not the mission Spio set out upon when she took CEEK to investors, but its apt that a woman who helped satellites send messagesfrom outer space would be in a position to make our future visible now.

Running this business suddenly has a different calling than it might've before, she acknowledges. We've had to accelerate and run faster, but now we're capturing the demand thats there, and it's wild.

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The First-Ever Live, Virtual Reality Comedy Special Could Only Happen Now - Entrepreneur

Pune, May 13, 2020 (GLOBE NEWSWIRE) -- The global virtual reality in manufacturing industry size is projected to witness substantial growth owing to the increasing trend of digitalization accepted across almost all commercial sectors worldwide. There is a rise in demand for advanced solutions in the manufacturing sector for optimizing any chances of uncertainty or error and this propelled the installation of virtual reality solutions in most of the production companies worldwide. A recently published report by Fortune Business Insights titled, Virtual Reality in Manufacturing Industry Share, Trends & Industry Analysis, By Component (Hardware, Software, Content), By Application (Product Design and Development, Safety and Training, Maintenance and Repair, and Communication & Collaboration), and Regional Forecast, 2019-2026, states that the market value was USD 924.7 million in 2018 and is expected to rise at a CAGR of 39.2% to reach USD 14,887.0 million by the end of 2026.

This Report Answers the Questions Below:

Get Sample PDF Brochure:https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/virtual-reality-vr-in-manufacturing-industry-101714

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Click here to get the short-term and long-term impact of COVID-19 on this Market.

Please visit: https://www.fortunebusinessinsights.com/industry-reports/virtual-reality-vr-in-manufacturing-industry-101714

Drivers & Restraints-

Rising Demand for Minimizing Operational Cost will Aid in Expansion of Market

Manufacturers across all sectors are increasingly demanding quality control, increasing automation, minimized operational cost, and predictive maintenance. This propels the demand for Visual Reality applications in production companies. To cite an instance, VR skylight platform and VR smart glasses are used by Boeing for guiding technicians with their viewfinder, thus helping the company to lessen their wiring construction time by 25%. Such innovative technologies applied to ease manufacturing processes are likely to positively contribute to the virtual reality in manufacturing industry growth in the forthcoming years.

Additionally, massive investments in advanced solutions for virtual reality technology by economically established companies will also add impetus to the market.

Segment-

Product Design and Development Segment to Witness Significant Growth Owing to Problem Recognition and Solving Abilities in Initial Stages of Production

In terms of application, the product design and development segment earned a 28.8% share on account of its seamless ability to replicate product design or prototype in its primary stage. Engineers can easily save the overall production cost and time by identifying and fixing any issue in its initial stage. Thus, this segment will witness significant growth in the coming years.

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Regional Analysis-

Presence of Established IT Infrastructure May Help North America to Continue Dominance

Regionally, North America earned the highest virtual reality in manufacturing industry share in 2018 with a revenue of 359.5 million and is likely to continue dominating the market in the years to follow. This is owing to the presence of well-established IT infrastructure, further attributed to the early adoption of advanced technologies in the region. On the other side, Asia Pacific is likely to rise robustly as manufacturing is one of the prominent businesses in nations such as India, Japan, and China that demand advanced manufacturing solutions. This will further propel the demand for virtual reality applications across all manufacturing companies across the region.

Competitive Landscape-

Collaborative Efforts and Innovative Product Launches will Intensify Competition

Companies functioning in this market are engaging in collaborative efforts and new product launches to expand their portfolio during the forecast period. Below are a couple of the latest key industry developments:

November 2016 Autodesk and HTC entered into a joint venture to form a cloud-based design engine for combining the HTC vive and Forge platforms to provide VR experience to their customers. The main aim is to revolutionize the method with which designers create, form models, and collaborate for an immersive VR experience.

May 2015 The release of EON World Builder (TM) beta was announced by EON Reality Inc. This builder allows the users to create, upload, build, and share any design of their choice. This application is present in the EON Experience VR Library and is accessible on android or IOS phones.

Fortune Business Insights lists the names of significant players in Virtual Reality in Manufacturing Industry. These include:

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Detailed Table of Content

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Have a Look at Related Research Insights:

Virtual Reality (VR) in Healthcare Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Content), By Application (Pain Management, Education and Training, Surgery, Patient Care Management, Rehabilitation and Therapy Procedures and Post-Traumatic Stress Disorder (PTSD)), and Regional Forecast, 2019-2026

Virtual Reality in Aerospace and Defense Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Content), By Application (Training, Maintenance Assistance, Design and Manufacturing, Passengers Entertainment), and Regional Forecast, 2019-2026

Virtual Reality in Education Market Size, Share & Industry Analysis, By Component (Hardware, Software, Content), By Application (K-12, Higher Education, and Vocational Training), and Regional Forecast, 2019-2026

Virtual Reality in Gaming Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Content), By Device (Mobile, Console/PC, and Standalone), and Regional Forecast, 2019-2026

Virtual Reality Market Size, Share & Industry Analysis, By Offering (Hardware, Software), By Technology (Nonimmersive, Semi-Immersive), By Industry Vertical (Gaming & Entertainment Media, Healthcare, Education, Automotive, Aerospace & Defense, Manufacturing), By Application (Training & Simulation, Educational, Attraction, Research & Development) and Regional Forecast, 2019 - 2026

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Virtual Reality in Manufacturing Industry to Reach USD 14,887.0 Million by 2026; Advent of Digitalization in All Commercial Sectors Worldwide to Add...

The New Zealand city of tautahi Christchurch has secured the hosting rights for the 2022 IEEE Conference on Virtual Reality and 3D User Interfaces, making it the first city in the Southern Hemisphere to host the gathering of over 400 virtual reality experts from around the globe.

Loren Heaphy, General Manager Destination and Attraction, said the conference was a natural fit for the city and a huge win for New Zealands fast-growing virtual reality sector.

As a host city we have so much to offer delegates, a strong and well-connected immersive technology sector, world-leading R&D expertise at the University of Canterbury (UC), alongside fantastic culture, hospitality and some of the most stunning landscapes and outdoor adventures to explore, said Heaphy.

Delegates will be hosted at the citys new Te Pae Christchurch Convention Centre in the heart of the city, which is expected to open in 2021.

Organisers said the level of expertise at UC, Otago University and across New Zealand, had been a big factor in selecting the destination.

Professor Stephan Lukosch of UCs HIT Lab NZ joined forces with colleague Associate Professor Tobias Langlotz from the University of Otago, to put together a bid, with help from Tourism NZ, to host the conference.

I am looking forward to welcoming the conference delegates to Christchurch. New Zealand has a vibrant research community on virtual and augmented reality, this is a great opportunity to showcase our work and to connect with others from around the world, said Professor Lukosch.

Professor Langlotz said the conference would help put virtual and augmented reality in New Zealand on the world stage.

This is the perfect opportunity to showcase the amazing work that is being done here, he said.

Tourism New Zealand Global Manager Business Events Lisa Gardiner said: This conference is likely to attract internationally acclaimed experts in virtual reality to New Zealand whose knowledge will be invaluable to local experts in the field. The pre- and post-conference events being planned for delegates across the country will also provide an opportunity to showcase New Zealands virtual reality expertise on the world stage.

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tautahi Christchurch secures IEEE Conference on Virtual Reality in 2022 - Conference and Meetings World

Danish-Icelandic artist Olafur Eliasson is bringing rare natural matter, including a burning sun and a sprightly puffin, into people's homes with his AR Wunderkammer works.

The Wunderkammer project, which is available through an app, marks the first time that Eliasson has employed augmented reality (AR).

The artist used the technology to create extraterrestrial rocks and rare animals that viewers can experience as if they have appeared in front of them.

The audience is invited to "bring the outside in" by creating their own environment as they add AR objects, atmospheres and "imaginary friends" to their own, personal space.

The designer hopes this will allow people across the globe to digitally access art from their own homes while on lockdown during the coronavirus pandemic.

Titled Wunderkammer, the project takes its name from the German word for "cabinets of curiosities" a trend that began in Europe in the mid-sixteenth-century to keep collections of exotic objects.

Each of the works depict aspects of nature that we often take for granted.

This includes elements such as the sun, rainbows or rainclouds, as well as insects and rare birds like the puffin, and various objects including a compass.

Olafur Eliasson installs giant blocks of glacial ice across London

Eliasson often creates works that encourage their viewers to think about climate change and the environment.

His 2018 Ice Watch installation saw him extract 30 blocks of glacial ice from the waters surrounding Greenland and place them in public spaces across London, where they were left to melt.

A retrospective exhibition featuring three decades of work by the artist was also on show at London's Tate Modern in July 2019, and included a tunnel of fog and other works designed to make people consider their impact on the planet.

Wunderkammer was made in collaboration with Acute Art a virtual and augmented reality production studio that specialises in creating digital artworks.

The artworks will be available to experience for free through the Acute Art app and the artist plans to release a further series at a later date.

"Can today's immersive technologies, virtual reality (VR) and augmented reality (AR), change and expand the ways we experience art?" asked Acute Art director Daniel Birnbaum.

"Incredible things are happening" in virtual reality say architects in lockdown

"I think the potential is enormous and that that these tools will be essential to new forms of international visual culture and exchange," he continued. "Acute Art was founded on the vision of democratising art and bringing it to places where it could not be before."

"It's always been our ambition to reach audiences outside of the art worlds traditional institutions. In these difficult times, our aspiration has gained new relevance and urgency," added Birnbaum. "The new works by Olafur are offered to anyone, anywhere."

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Olafur Eliasson turns elements from nature into augmented reality artworks - Dezeen

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Moreover, the Augmented Reality (AR) & Virtual Reality (VR) in Healthcare report offers a detailed analysis of the competitive landscape in terms of regions and the major service providers are also highlighted along with attributes of the market overview, business strategies, financials, developments pertaining as well as the product portfolio of the Augmented Reality (AR) & Virtual Reality (VR) in Healthcare market. Likewise, this report comprises significant data about market segmentation on the basis of type, application, and regional landscape. The Augmented Reality (AR) & Virtual Reality (VR) in Healthcare market report also provides a brief analysis of the market opportunities and challenges faced by the leading service provides. This report is specially designed to know accurate market insights and market status.

By Regions:

* North America (The US, Canada, and Mexico)

* Europe (Germany, France, the UK, and Rest of the World)

* Asia Pacific (China, Japan, India, and Rest of Asia Pacific)

* Latin America (Brazil and Rest of Latin America.)

* Middle East & Africa (Saudi Arabia, the UAE, , South Africa, and Rest of Middle East & Africa)

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Table of Content

1 Introduction of Augmented Reality (AR) & Virtual Reality (VR) in Healthcare Market

1.1 Overview of the Market1.2 Scope of Report1.3 Assumptions

2 Executive Summary

3 Research Methodology

3.1 Data Mining3.2 Validation3.3 Primary Interviews3.4 List of Data Sources

4 Augmented Reality (AR) & Virtual Reality (VR) in Healthcare Market Outlook

4.1 Overview4.2 Market Dynamics4.2.1 Drivers4.2.2 Restraints4.2.3 Opportunities4.3 Porters Five Force Model4.4 Value Chain Analysis

5 Augmented Reality (AR) & Virtual Reality (VR) in Healthcare Market, By Deployment Model

5.1 Overview

6 Augmented Reality (AR) & Virtual Reality (VR) in Healthcare Market, By Solution

6.1 Overview

7 Augmented Reality (AR) & Virtual Reality (VR) in Healthcare Market, By Vertical

7.1 Overview

8 Augmented Reality (AR) & Virtual Reality (VR) in Healthcare Market, By Geography

8.1 Overview8.2 North America8.2.1 U.S.8.2.2 Canada8.2.3 Mexico8.3 Europe8.3.1 Germany8.3.2 U.K.8.3.3 France8.3.4 Rest of Europe8.4 Asia Pacific8.4.1 China8.4.2 Japan8.4.3 India8.4.4 Rest of Asia Pacific8.5 Rest of the World8.5.1 Latin America8.5.2 Middle East

9 Augmented Reality (AR) & Virtual Reality (VR) in Healthcare Market Competitive Landscape

9.1 Overview9.2 Company Market Ranking9.3 Key Development Strategies

10 Company Profiles

10.1.1 Overview10.1.2 Financial Performance10.1.3 Product Outlook10.1.4 Key Developments

11 Appendix

11.1 Related Research

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