ICT companies are extensively adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue working from home. Focus on fast automation, use of real-time operation within various end-use sectors such as automotive, food & beverage and others will provide stimulus to the growth.
The report offers actionable and valuable market insights of AI Virtual Visor. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of AI Virtual Visor Market across various industries and regions.
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As per a new report published by Fact.MR, a market research and competitive intelligence provider, the number of vehicle displays is steadily increasing, and over the years, has increased almost 65% between 2016 and 2021. Fact.MR estimates that the automotive display market is likely to reach almost US$ 22 Bn by 2022.
The automotive industry is one of the key enablers of innovation and growth for big economies. With the introduction of AI virtual visors, Bosch has redefined and redesigned the century old sun visor technology. The new product now consists of Artificial Intelligence liquid crystal display and state-of-the art software for efficient operation. Fact.MR estimates that growth of high-speed Internet and stricter vehicle safety laws are likely to propel market expansion.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of AI Virtual Visor market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of AI Virtual Visor
This newly published and insightful report sheds light on Market Insights of AI Virtual Visor, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of AI Virtual Visor Market.
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What is the Future for AI Virtual Visor Technology?
Bosch has revealed the first prototype with LCD screens. Currently, analysts in the industry are not sure about the variants that they are going to offer. The automotive industry uses two main types of LCD screens – passive matrix and active matrix, using thin-film transistors. It is estimated that the company can use both displays to provide a better user experience.
Similarly, Organic Light Emitting Diodes (OLED), Filed Sequential Color (FSC), Excellent Black Technology (EBT), and Color Super Twisted Nematic (CSTN) are considerable future prospects for manufacturers. AMOLED displays have better and quicker response time and superior image quality, and can be reliable to provide quicker darkening of cells in a driver’s dynamic conditions.
Volume sales is the key aspect for high revenue growth of AI virtual visors. According to the International Organization of Motor Vehicle Manufacturers, the automobile industry has registered almost 30% increase from 1995 to 2005. In addition, building almost 60-80 million vehicles in a single year provides direct employment to almost 9-10 million people. This figure is almost 5% of global manufacturing employment.
As per estimations, each direct job in the industry supports at least another 5 indirect jobs. Thus, it adds up to more 50 million jobs. And, as the technology is evolving and more electronic components are getting embedded, this number is likely to increase further.
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Key Takeaways from Market Study
- Fact.MR estimates that global automotive display market is likely to reach US$ 22 Bn by 2022.
- As per Fact.MR, the global consumer electronics industry is likely to surpass US$ 2 trillion by 2031.
- Demand for AI virtual visors is likely to gain pace due to development of high-speed Internet services across all regions, and the premium car segment will be the early adopter of the technology.
- Commercial vehicle sales, which accounted for almost 27 Mn units in 2019, will be a lucrative segment for the sales of AI virtual visors.
“Advancing artificial intelligence and automotive electronics along with high-speed Internet are likely reasons to fuel the early adoption of AI virtual visors,” says a Fact.MR analyst.
Development of technology for premium and commercial vehicles will gain popularity as every product is becoming AI-integrated. Advanced development of prototypes can be commercialised and will be available at economic value for compact and medium vehicles.
For other manufacturers who all not into technological development, purchasing the patent is likely gain them higher profits in the future, because Fact.MR estimates that this technology is likely to gain popularity in a few years after its commercial launch and sales are expected to skyrocket due to mass adoption.
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Fact.MR, in its new report, offers an unbiased Market Analysis of AI Virtual Visor, Sales and Demand of AI Virtual Visor, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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