Chicago, May 31, 2023 (GLOBE NEWSWIRE) -- According to a research report Germany Augmented Reality and Virtual Reality Market by Technology Type (AR: Markerless, Marker-base; VR: Non-Immersive, Semi-immersive and Fully Immersive Technology), Device Type, Offering, Application, Enterprise, and Geography - Global Forecast to 2027", published by MarketsandMarkets, Germany Augmented Reality and Virtual Reality Industry to Grow at a CAGR 29.0% from 2022 to 2027.
High adoption of ultra-modern technologies by manufacturing firms to promote AR and VR market growth in Germany.
Germany has many manufacturing companies spread across the aerospace, automotive, and defense sectors. AR/VR HMDs allow users from industrial environments to train technicians and engineers, share views, and provide and receive guidance for maintenance or repair services from remote locations. The increased staffing problem in Germany could be resolved via intelligent solutions with the help of VR and AR technologies. Germany has been among the top countries to research VR. Commercial applications such as e-commerce and tourism prefer VR technology for business development in Germany.
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The consumer sector in Germany contributes most to the growth of the country’s GDP. Continuous innovations in the automotive industry of Germany are also expected to soar the demand for AR/VR in the country. As stated in the report ‘World Economic Situations and Prospects’ presented by the United Nations in 2020, Germany was among the second-largest economies in Europe. Its economy has been strengthened by various factors, such as increased spending in the automotive and aerospace & defense verticals and a high foreign trade quota. The Federal Ministry of Education and Research, the Federal Ministry of Economic Affairs and Energy, and the European Commission have launched different programs to strengthen the communications sector in Germany. These programs include funding for various AR and VR projects and developments, especially related to industrial and healthcare applications. It has been among the top countries, along with the US and China, to research in the field of AR and VR. Germany excels in producing automobiles, machinery, electrical equipment, and chemicals, which could provide opportunities for AR/VR HMDs—particularly AR smart glasses—in the coming years.
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The presence of AR firms such as Ubimax GmbH and RE’FLEKT GmbH is expected to drive the growth of the AR market in Germany. Ubimax is one of the leading AR solution providers in Europe, with applications in industrial order picking, quality check devices, and assembly lines. It has also been involved in the development of meta glasses. The initiatives taken up by the government in the country to support AR projects have helped the German market grow at a rapid pace.
The German population has a significant interest in video games; it is the largest market in Europe for gamers, creating a huge potential for AR/VR HMD providers. Sony Group Corporation offers PlayStation VR, which is a popular VR headset in Germany. The country’s younger generation shows a keen interest in HMDs for gaming applications.
Top Key Market Players in Augmented Reality and Virtual Reality companies
- Google (US),
- Microsoft (US),
- Sony Corporation (Japan),
- Samsung Electronics (South Korea),
- HTC (Taiwan),
- Apple Inc., (US),
- PTC Inc., (US),
- Seiko Epson (Japan),
- Oculus VR (by Facebook (US),
- Lenovo (China).among others
See Also :
UK Augmented Reality and Virtual Reality Market
China Augmented Reality and Virtual Reality Market
France Augmented Reality and Virtual Reality Market
South Korea Augmented Reality and Virtual Reality Market
Japan Augmented Reality and Virtual Reality Market
