Connect with us

Technology

Virtual Reality (VR) Market to Grow by USD 64.72 Billion (2023-2028), Report on AI-Powered Market Evolution – Technavio

Published

on

NEW YORK, Dec. 13, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global virtual reality (VR) market size is estimated to grow by USD 64.72 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 28.3% during the forecast period. The report provides a comprehensive forecast of key segments below- 

Segmentation Overview

End-user 1.1 Enterprise1.2 ConsumerComponent 2.1 Hardware2.2 SoftwareGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

Get a glance at the market contribution of rest of the segments – Download a FREE Sample Report in minutes!

1.1 Fastest growing segment:

Virtual reality (VR) is a computer-generated simulation of a three-dimensional environment, presented to users in a way that they perceive it as real. VR does not interact with the physical world. Instead, it creates a new experience, often through the use of a headset. Advancements in VR hardware, such as new headset launches, are driving user adoption in industries like gaming, entertainment, retail, sports, travel, and healthcare. In healthcare, VR is used for disease diagnosis and therapy. For instance, doctors at George Washington University Hospital used VR technology to detect healthy and COVID-19-infected tissues. Oxford VR launched a VR-based therapy for social anxiety. However, the rise of augmented reality (AR) technology may hinder VR growth. Yet, the demand for remote working applications, OTT platforms, and online shopping increased due to the pandemic, driving the need for faster networks and digital solutions among enterprises. This trend is expected to fuel VR market growth during the forecast period.

Analyst Review

Virtual Reality (VR) technology is revolutionizing various industries by providing immersive experiences through VR headsets. In healthcare, VR is used for therapy and training, benefiting patients and technicians alike. In gaming and entertainment, VR glasses transport users to 3D virtual worlds, offering unprecedented immersion. VR gloves and bodysuits add an extra layer of interaction, allowing users to feel and move in the virtual environment. Instructional training in industries like defense and automotive uses VR for simulation, enhancing learning and reducing risks. Virtual platforms in the hardware segment power these experiences, while software segment offers AI applications and the metaverse for social interaction. PropVR and REAL System are leading VR technology providers. VR content creation tools enable users to build their virtual tours, virtual classrooms, and VR arcades. VR fitness and therapy applications offer health benefits, while VR therapy is transforming rehabilitation. Augmented reality (AR) complements VR, merging virtual and real worlds. Virtual reality is set to transform education, entertainment, and industries, offering endless possibilities.

Market Overview

The Virtual Reality (VR) market is revolutionizing various sectors, including Architecture and Planning, with 3D models and virtual walkthroughs. In the Non-segment, VR technology is used for instructional training in sectors like Aviation for pilots and Defense personnel, as well as for Technicians in healthcare, automotive, and other organizations. VR technology is also being explored for addressing mental health issues, creating virtual platforms for meetings, and implementing policies & strategies. Event organizers are leveraging VR for live virtual entertainment, while VR simulators offer exciting experiences in gaming, entertainment, and virtual theme parks. The Hardware segment includes VR headsets, glasses, gloves, and bodysuits, with advancements in AI applications and the Metaverse shaping the future of VR. Companies are also developing VR content creation tools, collaboration tools, virtual classrooms, and VR arcades for fitness and therapy. Amidst the coronavirus outbreak and pandemic crisis, VR is becoming increasingly important for remote work and social interaction. Additionally, AR technology and virtual tours are complementing VR in various applications.

To understand more about this market- Download a FREE Sample Report in minutes!

Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
11.1 Alphabet Inc
11.2 Barco NV
11.3 CyberGlove Systems, Inc
11.4 Meta Platforms Inc
11.5 HTC Corp
11.6 Microsoft Corp
11.7 Samsung Electronics Co., Ltd
11.8 Sensics, Inc
11.9 Sixense Enterprises, Inc
11.10 (Penumbra, Inc.)
11.11 Ultraleap Ltd
11.12 3D Systems Corp
11.13 Advanced Micro Devices Inc
11.14 Apple Inc
11.15 Osso VR Inc
11.16 Pico Technology Ltd
11.17 Sony Group Corp
11.18 StarVR Corp
11.19 Unity Software Inc
11.20 Valve Corp
11.21 Varjo Technologies Oy
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/virtual-reality-vr-market-to-grow-by-usd-64-72-billion-2023-2028-report-on-ai-powered-market-evolution—technavio-302330470.html

SOURCE Technavio

Continue Reading

Technology

Yunji Technology to Showcase AI-Driven Robotics and Real-World Hospitality Solutions at EquipHotel Paris 2026

Published

on

By

PARIS, Nov. 3, 2026 /PRNewswire/ — As the hospitality industry gathers for EquipHotel Paris 2026, Yunji Technology (HKEX: 02670), a listed enterprise specializing in commercial service robots and AI agents, will present its latest systems at Booth P7.3-R044 from November 2 to 5.

Yunji will demonstrate how its robotic solutions work alongside existing hotel management systems to address common operational issues. Hoteliers across Europe continue to face persistent staff shortages, and the challenge of maintaining consistent guest service across multiple properties. Yunji’s technology is built to support these daily demands by automating routine tasks and streamlining internal logistics.

The exhibition will feature live demonstrations of robots handling everyday hotel workflows. Visitors will see how the systems manage tasks ranging from in-room deliveries and guest guidance to broader facility management. Instead of operating as isolated machines, Yunji’s robots function as a connected network, ensuring smooth operations even during peak hours. Yunji will also introduce the GORA C40 to address hotel public area cleaning. 

Integrated Cleaning Design: The C40 combines scrubbing, sweeping, dust mopping, and vacuuming into a single unit, significantly reducing equipment maintenance and staff training time. Notably, the C40 can autonomously navigate between floors by integrating with hotel elevator systems, ensuring continuous cleaning without manual transfer.

This technology is already delivering practical results globally. Yunji has deployed solutions in more than 20 countries and regions, working closely with international hotel groups. By taking over repetitive tasks, such as delivering amenities or transporting linens, the robots provide hotel staff with more time to focus on guest-facing services. The system also generates operational data that helps hotel managers identify bottlenecks and optimize their workflows.

“At EquipHotel Paris, our primary goal is to listen to European hoteliers,” said Jake Ma, Chief Marketing Officer at Yunji Technology. “By demonstrating how our AI-driven fleet and updated cleaning solutions integrate into daily operations, we aim to provide scalable solutions that address the specific labor and efficiency issues the industry is facing today.”

Yunji Technology invites hotel groups, facility managers, and partners to visit Booth P7.3-R044 to see the systems in operation and discuss collaboration opportunities.

About Yunji Technology

Yunji Technology (HKEX: 02670) is a Hong Kong-listed enterprise headquartered in Beijing, specializing in the research, development, and commercialization of service robots and AI agents. Guided by its mission, “Robots, Making Humanity Happier,” Yunji provides intelligent and reliable robotics for the hospitality, retail, and commercial sectors. Visit https://www.yunjichina.com.cn for more information.

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/yunji-technology-to-showcase-ai-driven-robotics-and-real-world-hospitality-solutions-at-equiphotel-paris-2026-302928087.html

Continue Reading

Technology

DUPR and InBody Announce Official Body Composition Technology Partnership

Published

on

By

The partnership brings InBody’s body composition technology to the DUPR community, with activations at DUPR events and exclusive offers for DUPR players, clubs and coaches

DELRAY BEACH, Fla., Nov. 3, 2026 /PRNewswire/ — DUPR, the global rating system for pickleball, today announced a new partnership with InBody, one of the global leaders in body composition technology, naming InBody the Official Body Composition Technology Partner of DUPR.

The partnership brings together two organizations focused on helping people better understand their performance and make more informed decisions about their health and fitness. Through the collaboration, InBody will engage with the DUPR community through digital content, event activations and special product offers for DUPR players, clubs and coaches.

As part of the partnership, InBody will have a presence across DUPR’s digital ecosystem, including the DUPR app, website, email communications and social media channels. InBody will also activate at select DUPR-owned events, giving players and attendees opportunities to interact with InBody products and participate in experiences such as grip-strength testing with InBody’s InGrip.

“Pickleball is increasingly becoming part of how people stay active, competitive and connected, and that makes understanding your body and performance increasingly important,” said Tito Machado, CEO of DUPR. “InBody brings trusted technology and meaningful insights to that conversation. We’re excited to introduce our community to tools that can help them better understand their health and fitness both on and off the court.”

The partnership will also provide opportunities for DUPR players and the broader DUPR ecosystem to access InBody products, including special offers for DUPR Clubs and DUPR Certified Coaches.

“We’re excited to partner with DUPR and connect InBody’s technology with a growing community of active players who are invested in their health and performance,” said Jeremy Choo, E-Commerce Business Development Manager at InBody USA. “Pickleball is a sport that brings together people of all ages and fitness levels, and we see a natural fit between InBody’s mission to simplify the understanding of health and wellness and DUPR’s commitment to helping players better understand their game.”

The collaboration will also extend to DUPR’s competitive events, with InBody product prizes and promotional activations planned around select regional and national competitions.

Together, DUPR and InBody aim to give players more ways to understand the relationship between their performance, fitness and overall well-being.

About InBody

InBody is an innovation-focused company that develops biomedical technologies designed to simplify the understanding of health and wellness. InBody’s award-winning, medical-grade devices are currently used by more than ten million professionals and consumers across medical, fitness, research, and corporate wellness settings worldwide. The company delivers technologies and services in more than 110 countries, supported by thirteen global branch offices and a global network of distributors. To learn more about InBody and its mission, visit www.inbody.com.

About DUPR

DUPR (Dynamic Universal Pickleball Rating) is the premier global pickleball rating system and technology platform, trusted by the world’s leading clubs, tournaments, leagues, and players. DUPR’s dynamic rating system unifies pickleball across age, gender, and location by analyzing match results to accurately evaluate all players across a 2.000 – 8.000 scale. DUPR is the official pickleball rating of leagues, tournaments and clubs around the world, including USA Pickleball, Global Pickleball Federation (GPF), United Pickleball Association (UPA), Professional Pickleball Association (PPA), Major League Pickleball (MLP), Pickleball.com, Life Time, The Picklr, National Team Pickleball League, and National Pickleball League. It also owns and operates Minor League Pickleball and Collegiate Pickleball, two of the biggest amateur leagues in the sport. Players and operators can visit www.dupr.com to sign up and learn more.

Media Contacts

Kyrill Hartog
Vice-President of Marketing & Communications, DUPR
kyrill@mydupr.com 

Gloria Song
Marketing Operations Manager, InBody
gloria.song@inbody.com
www.inbody.com

View original content:https://www.prnewswire.com/news-releases/dupr-and-inbody-announce-official-body-composition-technology-partnership-302928097.html

SOURCE DUPR

Continue Reading

Technology

Centric Software Selected to Work with The Magnum Ice Cream Company to Drive Innovation and Global Operational Efficiency

Published

on

By

Centric PLM will strengthen the global ice cream company’s digital foundation and empower cross-functional teams with real-time data

CAMPBELL, Calif., Nov. 3, 2026 /PRNewswire/ — Centric Software® is pleased to announce that The Magnum Ice Cream Company (TMICC), the leading ice cream company in the world, has selected Centric PLM™ to drive strategic growth, improve product development efficiency and ensure regulatory compliance across global markets. Centric Software delivers innovative, integrated, end-to-end AI-powered enterprise solutions to take products from concept to commercialization. Food & beverage, cosmetics & personal care, grocery and multi-category retail teams can plan, design, develop, source, comply, buy, make, price, allocate, assort, sell and replenish products to achieve strategic and operational digital transformation goals.

TMICC operates in over 80 countries and manages a portfolio that includes five of the most iconic global ice cream brands including Magnum, Ben & Jerry’s, Cornetto, Wall’s (Heartbrand) and Talenti.

As part of its transformation strategy, TMICC conducted a selection process for a new, innovative PLM solution. Centric PLM was selected for its modern, scalable platform, food & beverage-specific capabilities and end-to-end product lifecycle coverage.

Centric PLM will create a stronger digital foundation for product development, bringing product information into one platform and supporting collaboration across functions and markets.

Real-time data and integrated tools will give teams greater visibility across the product lifecycle, helping TMICC manage complexity and accelerate innovation at scale.

TMICC expects its future-ready R&D and PLM architecture to align processes and integrations across global operations, reduce implementation risk, enable breakthrough innovation and accelerate time to market.

“Bringing R&D, packaging, quality, regulatory affairs and other functions into one connected way of working will be an important step forward for The Magnum Ice Cream Company. Centric PLM will give our teams greater visibility across the product lifecycle and create stronger alignment from early development all the way through commercialisation,” says Zbigniew Lewicki, Chief RD&I Officer of The Magnum Ice Cream Company.

“Centric Software is proud to partner with The Magnum Ice Cream Company on this transformative journey,” says Fabrice Canonge, CEO of Centric Software. “This collaboration demonstrates the power of Centric PLM to provide the flexible, scalable digital foundation global food & beverage companies need to accelerate innovation, strengthen agility and ensure compliance.”

Centric Software® (www.centricsoftware.com)

From its headquarters in Silicon Valley, Centric Software provides the market-leading AI-enabled product lifecycle management platform for food & beverage manufacturers, grocery, brands and multi-category retailers. As experts in all fast-moving consumer goods, Centric Software delivers best-of-breed solutions to design, develop, source, comply, buy, make, package, assort and sell products. Centric Software solutions optimize the product portfolio, harmonize product offers and streamline product development by speeding time to market and innovation while enhancing quality control and ensuring regulatory compliance.

Centric PLM™ features integrated industry best practices and innovative, AI-enabled capabilities tailored for food and beverage manufacturers, retailers and food service providers. Seamlessly manage the overall product lifecycle, from initial concept and formula development to packaging, quality, supplier collaboration, nutritional labeling, production, SKU rationalization and beyond. Results include up to a 50% improvement in productivity and a 60% decrease in time to market.Centric Visual Boards™ are a visually oriented product portfolio optimization tool. A singular accessible workspace pulls in real-time data and imagery from multiple business systems. It is a new, visual way of working to ensure robust, consumer-right product offers, dramatically decreasing assortment development cycle time.Centric PXM™ AI-powered product experience management (PXM) encompasses PIM, DAM, content syndication and digital shelf analytics (DSA) to optimize the product commercialization lifecycle resulting in a transformed brand experience. Increase sales channels, boost sell through and drive margins. Centric Software’s market-driven solutions have the highest user adoption rate, customer satisfaction rate and fastest time to value in the industry. Centric Software has received multiple industry awards and recognition, appearing regularly in world-leading analyst reports and research.

Centric Software is a subsidiary of Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA), the world leader in 3D design software, 3D digital mock-up and PLM solutions.

Centric Software is a registered trademark of Centric Software, Inc. in the US and other countries. Centric PLM, Centric Planning, Centric Pricing & Inventory, Centric Market Intelligence, Centric Visual Boards, Centric PXM, Centric PIM, Centric DAM, Centric Shoppingfeed® and Centric DSA (including Centric Digital Shelf Analytics) are trademarks of Centric Software, Inc. All third-party trademarks are trademarks of their respective owners.

View original content to download multimedia:https://www.prnewswire.com/news-releases/centric-software-selected-to-work-with-the-magnum-ice-cream-company-to-drive-innovation-and-global-operational-efficiency-302927901.html

SOURCE Centric Software

Continue Reading

Trending