“According to AllTheResearch, the Global AR VR in Logistics and Supply Chain Market Ecosystem was valued at US$ 78.5 Mn in 2018 and is expected to reach US$ XX Mn with a CAGR of 39% by 2027”
The growth of this AR VR in Logistics and Supply Chain Market is primarily driven by increasing disposable incomes, growing technological innovation in Automotive, Consumer Electronics, Healthcare, Industrial, Aerospace & Defense industry, Augmented reality’s ability to avoid the wastage of time and errors while searching the location in warehouses has been creating demand for AR VR in logistics and supply chain in recent years. Additionally, the ability of AR VR to save cost and time for training workers is increasing the use of AR in warehouses for wayfinding.
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AR VR in Logistics and Supply Chain
The logistics and supply chain industry heavily depends on the timeliness of operations and the accuracy of data.
Augmented reality can be a solution for automating warehouse activities, which will significantly increase productivity and reduce errors related to the human factor.
As for the virtual reality, it can be used for the visualization of the warehouse layout during the planning process, which will contribute to its accuracy.
virtual reality is used in warehouses for training workers on safety and emergency in a warehouse environment. This is increasing the demand for VR in warehouses. The German logistics provider DB Schenker, in collaboration with Fraunhofer IML, has announced the use of VR for employee training in order to improve order picking and packaging processes.
Augmented reality is used in warehouse pickup solutions that provide information about the right position of items in the warehouses. Thus, it reduces the time required to complete the order and thereby increases the productivity of warehouse workers.
Impact of COVID-19:
AR VR in Logistics and Supply Chain Market report analyses the impact of Coronavirus (COVID-19) on the AR VR in Logistics and Supply Chain industry.
Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 180+ countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the AR VR in Logistics and Supply Chain market in 2020.
The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; emergency declared in many countries; massive slowing of the supply chain; stock market unpredictability; falling business assurance, growing panic among the population, and uncertainty about future.
COVID-19 can affect the global economy in 3 main ways: by directly affecting production and demand, by creating supply chain and market disturbance, and by its financial impact on firms and financial markets.
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Global AR VR in Logistics and Supply Chain Market Segmentation:
Following Top Key players are profiled in this Market Study:
Magic Leap, Google LLC, HTC Corporation, Lenovo, Facebook and Other
By Application: Automotive, Consumer Electronics, Healthcare, Industrial, Aerospace & Defense, Food & Beverages, Others
Global AR VR in Logistics and Supply Chain Ecosystem
Based on geography, North America dominated the market in 2018 and is expected to show similar trends in the coming years. The growing e-commerce sector in the region is one of the major factors in creating demand for AR VR in logistics and supply chain. As ecommerce companies such as Amazon are increasing their spending on shipping, the demand for AR VR has increased in order to streamline the process and increase the efficiency of work.
The Asia Pacific is the fastest growing region with a CAGR of XX% during the forecast period. Fast growing economies, rising industrial production, increasing purchasing power of consumers are some of the major factors that are driving the growth of the logistics industry in the region. As the logistic industry is growing, the demand for AR VR in logistics and supply chain has been increasing in recent years.
Table of Content:
Ecosystem Report – Table of Content
- Global AR VR in Logistics and Supply ChainMarket Ecosystem Definition
- Scope of study
- Executive Summary
- Global Market Segmentation
AR VR in Logistics and Supply Chain Market Ecosystem Positioning
- Global AR VR in Logistics and Supply ChainMarket Ecosystem Snapshot
- Global AR VR in Logistics and Supply ChainMarket Ecosystem Segmentation
- By Component
AR VR in Logistics and Supply Chain Market Ecosystem Sizing, Volume, and ASP Analysis & Forecast
- Global AR VR in Logistics and Supply ChainMarket Ecosystem Sizing & Volume
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Contact Person: Rohit B.
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