Automotive Augmented Reality Market Analysis, Size, Share and Forecast Report to 2028

Posted on 2020-07-14 by researchinsights in Automotive, Technology // 0 Comments

14th July 2020 – 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.

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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.

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.

Key Players

Continental AG
Garmin International
Denso
Robert Bosch GmbH
Hyundai Motor
BMW
Alphabet
Panasonic
Delphi Automotive

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Market split by Sales Channel, can be divided into:

Direct Channel
Distribution Channel

Market segment by Region/Country including:

North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Spain etc.)
Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
South America Brazil, Argentina, Colombia and Chile etc.)
Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)

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