FABRIC, AR-VR in Designing Market is Worth USD 14,442.9 Million in 2019, and it is Expected to reach USD 45,222.9 million by 2023
Augmented reality (AR) and virtual reality (VR) are quickly growing into vast areas of technology, with giants like Facebook, Apple, Microsoft, and Google are competing to provide the next big AR-VR experience. FABRIC predicts that the worldwide user base for AR-VR will reach approximately 500 million by 2025, meaning that it is becoming increasingly more important for UX designers to understand and learn how to create incredible unique AR-VR experiences. According to FABRIC, AR-VR in designing market is worth USD 14,442.9 million in 2019, and it is expected to reach USD 45,222.9 million by 2023. Designing in AR-VR for 3D experiences will demand totally new methods of thinking about UX design. While AR-VR hardware and software are changing significantly, UX standards and techniques for 3D interaction design will remain consistent.
arvr-in-design
As new technology, AR- VR should be easy to use to provide users with experiences that provides them simplification. Avoiding most frequent user experience mistakes and implementing the principles of narrative is going to help UX Designer carefully craft 3D experiences that delight, charm, entertain, and most of all induce the response user expected. Creator will need to engage users in first-person narratives by making use of space energetic UI’s, including gaze, gesture, movement, speech, and sound often used in combination. AR-VR in designing is mostly used in automotive, architect and fashion industry, but these uses are still on testing and prototype. In gaming industry AR-VR designing is used widely AR designing systems are used for interior design applications through which a user can transform 2D drawings into 3D physical models and digital simulations. Architecture based on AR design applications help the user to select the exact model or structure before construction by looking at it in a 3D way.
Companies such as Oculus, Sony, Samsung, HTC, and Google have been active enough in the VR hardware space, and the availability of VR hardware from these companies has helped in the growth of the VR market for hardware. Wherein Investments in the AR market by companies such as Facebook Corporation, Intel Corporation, Qualcomm, Inc., Alphabet, Inc., Comcast Ventures, and Samsung Group have increased the market share of AR market among various industries like Retail, Hospital etc.
Investments:
In 2020, launch of new technological suites and demand side investments were the key developments in this market.
For example:
  • Hyundai Mobis Sets Out for Strategic Investment in AR HUD, investing in leading company, UK's Envisics
  • AjnaLens Bags $1.5 Mn Pre-Series A To Enhance AR/VR Capabilities
  • Spatial raises $14M more for a holographic 3D workspace app, a VR/AR version of Zoom or Hangouts
  • Epic Games have now changed their previous $5 million development fund into a much larger $100 million in “MegaGrants”. Committed to supporting game developers, enterprise professionals, students, educators, and tool developers, the remit for application is incredibly wide. From Supply Side in AR-VR Design providers we have companies such as Oculus, Sony, Samsung, HTC, and Google. From Demand Side for AR-VR Design companies such as Visteon (US), EON Reality (US), Vuzix (US), Zugara (US), and MAXST (South Korea). Continental (Germany), Visteon (US), EON Reality (US), Vuzix (US), Zugara (US), and MAXST (South Korea).
FABRIC has investigated AR-VR in desigining and offers 7! cross segments. Avira's market intelligence platform FABRIC has synchronized 235 high importance market activities using Machine Learning and Data Science Algorithms. We would love to exchange our methodology, datasets, and observations on the quick demo of FABRIC.
About AviraInsights Technologies:
AviraInsights is a market intelligence company. We have synergised our strengths of Information Technology, Consulting and Market Research to build our proprietary platform that helps our clients in effective decision making. Driven by a vision to be a one-stop business partner to all the growth and expansion plans of its clients, AviraInsights has built an alliance base to make the Intelligence-data not just academic, but actionable. Understanding business in its entirety on the back of the decades of experience of the Management team, the company strives to empower its clients by providing an Access to research, Analysis of key dynamics, Evaluation of market data, Application of it to business objectives.
Contact Us:
Rohan S
5890 stoneridge Dr, suite 216,
Pleasanton CA 94588
Ask for Demo