Global automotive AR & VR market
was valued at $ 500 million in 2018 and is anticipated to grow at double digit
CAGR during forecast period on account of increasing demand for augmented
reality and virtual reality in automotive sector. Augmented applications are
developed on special 3D program helping developers to integrate digital content
with the real world. Generally, this is achieved by smartphones, tablet screen
or headsets. AR is witnessing significant adoption in the automotive vertical
as it displays navigations and smart signaling on the windshield. Moreover, AR
and VR in automobiles offer cost effective solutions such as head up displays, which
is further bolstering their demand in this automotive sector. In automotive
domain, companies are using AR and VR for repair & maintenance and design
and assembly. However, high reliance on internet connectivity can act as a
challenge for the growth of the market.
Global
automotive AR & VR market can be segmented based on type, application and region. On
the basis of type, the market can be bifurcated into augmented reality and
virtual reality. In 2018, augmented reality dominated the market and the
segment is poised to grow at an impressive rate during forecast period as it
finds application in
Head up display (HUD), which is used for navigation.
Regionally, the market for automotive
AR & VR is gaining traction and expanding to various regions including
Asia-Pacific, North America, Europe, South America and Middle East & Africa.
Owing to the early adoption of technology and presence of major players in the
region, North America is expected to acquire the majority share in the market
during forecast period.
The major players operating in global
automotive AR & VR market include Robert Bosch GmbH, Microsoft Corp., Continental
AG, Hyundai Motor Group, Volkswagen AG, Unity Technologies ApS, Visteon Corp., HTC
Corp., WayRay AG, etc. Major companies are developing advanced technologies and
launching new products in order to stay competitive in the market. Other
competitive strategies include mergers & acquisitions and new product
developments. Companies, such as Continental AG, have started using augmented
reality based head up display to display crucial information on the windshield.
Moreover, new cars such as BMW 7 Series are coming already equipped with head
up displays.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the
Study:
- To analyze and forecast the market size of
global automotive AR & VR market.
- To classify and forecast global automotive AR
& VR market based on type, application and regional distribution.
- To identify drivers and challenges for global automotive
AR & VR market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in global
automotive AR & VR market.
- To conduct pricing analysis for global automotive
AR & VR market.
- To identify and analyze the profile of leading
players operating in global automotive AR & VR market.
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Some of the leading players in global automotive AR & VR market include Robert Bosch GmbH,
Microsoft Corp., Continental AG, Hyundai Motor Group, Volkswagen AG, Unity
Technologies ApS, Visteon Corp., HTC Corp., WayRay AG, etc.
TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of service providers across the globe. Subsequently, TechSci
Research conducted primary research surveys with the identified companies.
While interviewing, the respondents were also enquired about their competitors.
Through this technique, TechSci Research could include the service providers which
could not be identified due to the limitations of secondary research. TechSci
Research analyzed the service offerings, distribution channels and presence of all
major service providers across the globe.
TechSci Research calculated the market size of global automotive AR & VR market using a bottom-up approach, wherein data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also studied
by TechSci Research.
Key Target Audience:
- Raw material and
manufacturing equipment suppliers
- Semiconductor foundries
- Research organizations and
consulting companies
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and
alliances related to automotive AR & VR
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders
such as service providers and partners, end users, etc., besides allowing them
in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global automotive AR
& VR Market has been segmented into following categories, in addition
to the industry trends which have also been detailed below:
- Market, By Type:
- Augmented Reality
- Virtual Reality
- Market, By Application:
- R&D
- Manufacturing & Supply
- Marketing & Sales
- Aftersales
- Support Functions/Training
- Product
- Market, By Region:
- North America
- United States
- Mexico
- Canada
- Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- South America
- Brazil
- Argentina
- Colombia
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in global automotive AR & VR market.
Available
Customizations:
With the given market data,
TechSci Research offers customizations according to a company’s specific needs.
The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market
players (up to five).
In case you don’t find what you are
looking for, please get in touch with our custom research team at sales@techsciresearch.com
It is an upcoming report to
be released soon. If you wish an early delivery of this report or want to
confirm the date of release, please contact us at sales@techsciresearch.com