Learn details of Augmented Reality Automotive market study report of 184 pages explores Augmented Reality Automotive Industry growth, trends, statistics, Global Market size, share, and opportunity analysis. Report also provides Augmented Reality Automotive market forecast to 2025. The global Augmented Reality Automotive market is projected to reach 7.98 billion by 2025.
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Augmented Reality Automotive Market by Function covering AR HUD Navigation, AR HUD ACC, AR HUD LDW & Advanced AR HUD, Sensor Technology, Display Technology, Level of Autonomous Driving, Electric Vehicle, Vehicle Type, and Region Outlook to 2023 deeply studied in this document.
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Augmented Reality Automotive Companies Analyzed Continental AG, Denso Corporation, Digi Lens Inc., Garmin Limited, General Motors, Harman International Industries Inc., Hyundai Motor Company, LG Business Solutions, Micro Vision, Inc., Nippon Seiki Co, Ltd, Panasonic Corporation, Pioneer Corporation, Robert Bosch GmbH, Texas Instruments Inc., Visteon Corporation, Volkswagen AG, WayRay SA, Yazaki Corporation.
“Rapid technological advancement and increasing consumer demand for advanced safety functions are expected to fuel the demand for the augmented reality automotive market”
The augmented reality automotive market is projected to grow at a CAGR of 30.31% during the forecast period, to reach a market size of USD 7.98 billion by 2025. This highly advanced technology is expected to be launched in luxury and premium range of vehicles once it becomes commercially available in 2018–2019.
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The luxury car segment is one of the larger contributors to the global luxury goods market. This car segment is primarily led by the demand for technologically advanced cars in developed countries such as U.S., Germany, U.K.
and emerging markets such as China and Brazil that have an increasing number of affluent buyers. With growing demand for in-vehicle safety functions and advanced technology, OEMs are increasingly combining connectivity and safety functions to maintain brand differentiation and attract consumers.
The growth of such combinations could escalate the role for augmented reality head-up displays (AR HUD), which would integrate real-time advanced driver assistance systems with the safety functions of AR HUD.
“Passenger car is the fastest growing segment of the augmented reality automotive market”
Passenger cars are estimated to account for the largest share of the augmented reality automotive market. The market growth in the segment can be attributed to the growing demand for advanced technology in passenger cars.
The need to monitor multiple in-vehicle displays can be a cause of distraction for the driver, triggering potential dangerous situations on the road. The AR HUD will enhance safety by displaying all the information required by the driver on the windshield of a vehicle in the driver’s line of sight.
The AR HUD, when integrated with active and passive systems, will assist a driver in avoiding crashes. The demand for such advanced technology is expected to increase in developing and developed countries such as the U.S., Germany, U.K., China, and Japan, where there is high adoption of advanced in-vehicle safety technologies.
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“Semi-autonomous is the fastest growing segment of the augmented reality automotive market, by level of autonomous driving”
With the increase in demand for semi-autonomous functions, the penetration of semi-autonomous vehicles is expected to rise in the coming years. The demand for semi-autonomous vehicles is driven by the need for a more comfortable and safe driving experience that will provide enhanced safety, even in potentially dangerous driving circumstances.
In addition, technologically driven companies and OEMs are collaborating to make semi-autonomous vehicles a safe mode of transportation, thereby engaging consumer curiosity. Semi-autonomous driving capabilities, which use adaptive cruise control and advanced sensor technologies, can help the vehicle to provide in-depth information to the driver on vehicle data and external environment.
The semi-autonomous functions will not only alert the driver of potential dangers but will also have advanced control capabilities, reducing the stress of driving for the driver. Since the AR HUD will make this information available in the driver’s field of view, it will enhance the safety of the vehicle and the passengers.
“OLED, AMOLED: Fastest growing display technology of the augmented reality automotive market”
The other advanced display technologies including OLED, AMOLED,. are widely used in consumer electronics applications such as television displays, smart phones, and others.
These advanced display technologies allow flexibility in design and color and provide an enhanced visual appeal. They offer superior quality images and brighter displays as compared to LCD and TFT-LCD display panels.
However, these display technologies are not frequently used in automotive applications due to low-temperature resistance and durability of these panels for automotive functions. The demand for visually appealing and legible augmented reality imagery will grow with increasing integration of advanced driver assistance systems in AR HUD.The semi-autonomous and autonomous passenger cars and electric vehicles are expected to be equipped with advanced ARHUD.
This is expected to drive the demand for advanced display technology panels at a fast rate.
- By Company Type :Tier-1–45%, Tier-2–32%, and OEM–23%
- By Designation : C level–35%, D level–25%, Others–40%
- By Region : North America–35%, Europe–35%, Asia-Oceania–25%, RoW–5%
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Reasons to access this report:
- Illustrative segmentation, analysis, and forecast for the market-based product, system type, function, industry, and region have been conducted to give an overall view of the Augmented Reality Automotive market.
- The value chain has been analyzed to provide an in-depth insight into the Augmented Reality Automotive market.
- The major drivers, restraints, opportunities, and challenges for the Augmented Reality Automotive market have been detailed in this report.
- The report includes a detailed competitive landscape, along with in-depth analysis and revenue of key players.