Virtual Reality (VR) News

Recent industry report about Virtual Reality (VR) company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Virtual Reality (VR) Market industry experts.

Virtual Reality (VR) News

  • Mar 2022 - DPVR, a virtual reality device design and manufacturing company based in shanghai, has launched the DPVR 4G/5G for its all-in-one VR headsets. The company said the new module is designed to enable verticals such as training, healthcare, education, and conferences to integrate VR headsets in situations requiring mobile usage or remote working. The new DPVR supports 2G/3G/4G and 5G frequency bands worldwide.
  • Jan 2022 - Sony Entertainment is acquiring Bungie's video game developer company for USD 3.6 billion. Bungie, which is known for making destiny and halo games, will help sony in reaching billions of people worldwide.
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February 2024: Ericsson announced new capabilities leveraging XAI within its Cognitive Software portfolio for communications service providers (CSPs) to significantly enhance time-to-value from AI adoption in network design and optimization. With XAI, CSPs will have complete explainability on actions suggested by the AI-powered solution that identifies the root causes of possibilities affecting network performance and end-user experience. This gives optimization teams visibility on the highest contributing factors to the issue, the impact on network performance, and recommended actions.

December 2023: Engineering optimization software provider ESTECO announced its strategic partnership with Optimad, a numerical solutions provider in scientific computing. This venture will bring advanced machine learning and XAI capabilities into ESTECO digital engineering software solutions. ESTECO has provided technology for multidisciplinary optimization, simulation processes, and data management. Its software tools have enabled organizations to streamline product design and development processes, improving efficiency.

  • October 2023 - Huawei Technologies launched a base station based on the next-generation railway mobile communications standard. It released a white paper on Huawei's future railway mobile communications system (FRMCS), helping customers in the global transportation industry accelerate digital transformation.
  • September 2023 - Alcatel-Lucent Enterprise partnered with Nokia to power the Grand Paris Express, one of Europe's largest metro rail projects. The future subway includes 200 kilometers of new rail, creating four additional lines around Paris (lines 15, 16, 17, and 18) and extending the existing line 14. The partnership provides certified and integrated end-to-end mission-critical infrastructure for the Grand Paris Express with solutions that include a Nokia advanced multi-service IP/MPLS high-speed backbone network, which includes the router portfolio to meet all the operation and maintenance requirements of the Grand Paris Express.
  • February 2023: Prevu3D, a 3D digital twin technology developer, led a USD 10 million in Series A fundraising round closed by Cycle Capital, a growth-stage climate tech venture capital firm. The deployment of Prevu3D's 3D digital twin platform in industrial contexts could be expanded and accelerated with additional funding.
  • February 2023: To advance AI-driven digital twin generation in manufacturing, German startup RIIICO raised USD 1.5 million in a pre-seed investment round led by Earlybird Venture Capital and US-based investors. RIIICO, which gives manufacturing organizations the ability to create digital layouts at the level of the virtual factory floor, would enable the business to extract data directly from the shop floor and convert them into a factory digital twin using deep learning on 3D scans to give virtual representations of a product, process, service, or capability that could be used to visualize, track, and represent a real factory in three dimensions.
  • June 2023: TIM, a telecom operator, and Ericsson announced an increase in their investments in private networks and IoT projects in Brazil. TIM has announced various new projects, particularly in smart cities/public lighting. In the previous month, the company announced a smart lighting project in Porto Alegre, Rio Grande do Sul state, using 4G NB-IoT technology for IPSul, the concessionaire responsible for public lighting in the city.
  • November 2022: Emerson Electric Co. announced the completion of the USD 3-billion sale of its InSinkErator business to Whirlpool Corporation. InSinkErator was founded in 1938 and acquired by Emerson in 1968. It manufactured food waste disposers and instant hot water dispensers for home and commercial use. Whirlpool Corporation, a home appliance industry leader, is well-positioned to capitalize on InSinkErator's substantial legacy and performance to achieve long-term growth and success.
  • December 2023 - OnLogic has added to the existing ThinManager-ready PC product line with a new thin client with WiFi boot functionally to add multiple HMI functionality with a central point of maintenance
  • March 2023 - Stratodesk says that Stratodesk NoTouch OS, which provides IT teams with the confidence and flexibility to deploy turnkey devices in both internal and external clouds, has been approved for a range of LG Business Solutions Thin Clients.
  • In Januray 2024 - NCR Corporation announced the launch of its Next Generation Self-Checkout Solution NCR Voyix commerce platform, WHere the NCR Voyix Next Generation Self-Checkout Solution is a significant evolution in the checkout experience for retailers and shoppers alike. It caters to changing shopper journeys, drives inclusion of demographics and payments, and provides an agile, modern software-as-a-service (SaaS) technology stack with a flexible, fabric-like hardware approach.
  • In June 2023 - Gem OpenCube technologies pvt ltd designed the World's 1st Water, Tea, and Coffee (WTC) Automatic vending machine. As an automatic Tea shop at the street corner, these machines are fully automated Water, Tea, Coffee, and biscuit dispensing machines working 24/7 without human intervention.
  • August 2023 - Garmin launched the Venu 3 and Venu 3S GPS smartwatches, which are designed to help with every fitness goal. It features fitness insights, AMOLED touchscreen displays, and good battery life; the Venu 3 series is built to assist users in getting a complete picture of their health. It also comprises new features for wheelchair users, allowing them to track pushes, follow wheelchair-specific workouts, and more.
  • May 2023 - Apple and Google took the initiative for an industry specification to address unwanted tracking. Apple launched AirTag to provide users the peace of mind of knowing where to find their most important items. They made AirTag and the Find My network with a wide set of proactive features to discourage unwanted tracking, and they will continue to make enhancements to ensure the technology is being leveraged as intended.
  • December 2022 - Internet Initiative Japan Inc., one of the providers of leading Internet access and comprehensive network solutions providers in Japan, declared that it would start delivering the IIJ Cloud Data Platform Service, a data integration service that facilitates data utilization using the cloud. By aggregating data flowing between on-premise procedures and cloud services on this service platform, required data can be extracted without influencing existing systems, and data can be well integrated with cloud services.
  • October 2022 - Virtuoso Partners (VP) was pleased to announce that it extended its capabilities into iPaaS by partnering with Workato, The collaboration would support its partners and their customers better as they look to integrate their cloud applications and on-prem systems and automate workflows across them.
  • January 2023: Montway Auto Transport, a prominent third-party logistics brokerage in the United States, announced a strategic partnership with Auction Edge, the leading provider of online remarketing technology. This collaboration will enable Montway to offer integrated transportation ordering services to a vast network of more than 55,000 retailers and over 175 auctions through Auction Edge's national marketplace, known as EDGE Pipeline. EDGE Pipeline is a digital platform that seamlessly connects auctions with their valued dealer partners, facilitating the marketing and sourcing of inventory.
  • September 2022: In a remarkable auction event, Ritchie Bros. successfully sold nearly 5,000 equipment items and trucks over a span of three days, achieving a gross transaction value of over USD 71 million. This figure represents a substantial 25% increase compared to the previous year's auction in 2021. The unreserved online auction attracted a robust participation of more than 10,800 online bidders hailing from 63 different countries. Impressively, approximately 88% of the equipment sold during the auction, which took place from September 20 to 22, found buyers within the United States, with Texans accounting for 42% of these purchases. The remaining 12% of equipment was acquired by international buyers, some of whom were located as far away as Australia, Finland, Israel, and Malaysia.
  • February 2023: In order to meet growing demand for its cloud services, Oracle plans to set up a 3rd Public Cloud Region in Saudi Arabia. Oracle's planned investment of USD 1.5 billion in the Kingdom to upgrade cloud infrastructure capabilities is part of this new cloud region, which will be set up in Riyadh. The Oracle Cloud Riyadh Region will likely be added to the current Oracle Cloud Jeddah Region and the proposed Oracle Cloud Region in the future metropolis of NEOM.
  • February 2023: At the LEAP23 conference, Google Cloud announced a partnership with Lean Business Services, which offers Digital Health solutions. Lean used Google Cloud's Apigee solution in Saudi Arabia to develop a Digital Platform for Medical Institutions that will likely enable them to deliver secure healthcare services. Google Cloud claims that this collaboration enabled Lean to develop APIs and authenticate health institutions and individuals in order to use telemedicine.

VR Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)