Automotive Augmented Reality Market In-depth Research Report, SWOT Analysis, and Forecasts, 2028

CITY, Country, 2020-Jun-12 — /EPR Network/ —

Global automotive augmented reality market is expected to grow considerably in the forthcoming years owing to increased rate of adoption of enhanced technologies by manufacturers. Augmented reality (AR) is technological advancement for digital media like 3D models, real world environment, graphics, sound and more to improve the user experience and interaction. Automotive augmented reality enhances the driver experience and safety since the data and warnings are displayed on the windshield itself. Additionally, with the growing demand for autonomous cars, and improved control mechanisms, automotive AR will potentially enhance communication and entertainment in the automobile.

Automotive augmented reality market is driven by growing demand for connected automobiles, increasing investments in (AR) augmented reality market, growing awareness for road safety, and high-disposable income of consumers in the developed economies. Moreover, increasing use of AR technology for automotive repairs is also propelling the market. Conversely, significant cost of developing the display systems and associated technologies is hampering the market. Additionally, increasing cyber security threats due to growing vehicle telematics is also restraining the market.

Reduced cost of LiDAR sensors for AR-based HUD is trending in the market. Introduction of electric automobiles and semi-autonomous in the industry and growing digital content in automotive cockpits is an opportunity for the market. Nonetheless, increasing need for larger space in the automotive cockpit is challenging the market.

Automotive augmented reality market is categorized on the basis of sensor technology, vehicle type, function, electric vehicle, and geography. Based on sensor technology, market is divided into radar, LIDAR, CCD/VMOS image sensors, and sensor fusion. LIDAR segment is expected to hold significant share of the market due to low cost and improvements in (ADAS) Advanced Driver-Assistance Systems.

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By vehicle type, automotive augmented reality market is bifurcated into light commercial vehicles, luxury passenger cars, mid-level passenger cars, and entry-level passenger cars. Entry-level passenger cars segment is expected to lead the market due to potential steady growth in the coming years.

In terms of function, the market is divided into advanced AR HUD, AR HUD with standard functions, AR HUD with navigation, AR HUD with Adaptive Cruise Control (ACC), and AR HUD with Lane Departure Warning (LDW). AR HUD with Adaptive Cruise Control (ACC) segment is expected to lead the market in the coming years due to increasing popularity. This is because the functionality majorly reduces driver distraction.

Based on electric vehicle, market is divided into hybrid vehicles and Battery Electric Vehicle (BEV). Hybrid vehicle segment leads the market due to increase in demand for these vehicles from consumers of developed economies.

Geographically, automotive augmented reality market is segmented as North America, South America, Europe, Asia Pacific, and Middle East & Africa. Europe is expected to dominate the market due to the presence of large number of market players, growing investment in the domain, and increase in research and development activities in the automotive AR segment. Moreover, Europe are the early adopters of latest technologies in AR (Augmented Reality) and VR (Virtual Reality), which ultimately drives the market in the region. Furthermore, North America also accounts for major share of the market due to increasing adoption of AR technologies.

The major players profiled in automotive augmented reality market comprise HARMAN International, Continental, HTC, Visteon, Volkswagen, Panasonic, Microsoft, NVIDIA, Delphi Automotive, AutoVRse, Mercedes-Benz, Garmin, Bosch, DENSO, General Motors (GM), Unity, Hyundai Motor Company, Jaguar, and Nippon Seiki.

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