Automotive Augmented Reality Market Overview:
Augmented reality and virtual reality are considered to be two of the most successful and comprehensive technologies in today’s technological world. Augmented reality in automobiles is expected to be the next big thing, particularly with the advent of autonomous and semi-autonomous cars. Major OEMs and vehicle manufacturers are upgrading from traditional car sales approaches to utilizing AR in their showrooms, which could result in enhancing the overall sales process, ultimately increasing the conversion rate. Virtually test driving a new car is one of the experiences offered by Jaguar Land Rover via an AR-enabled banner ad campaign. Besides, AR is also expected to have a positive impact while engaging customers on some of the technical features of the vehicles, post purchase. Post-purchase services such as scanning the car through a virtual technician, topping-up brake fluids and other oils are expected to be a common occurrence once the AR technology is fully integrated in the automotive sector.
Global Automotive Augmented Reality Market is projected to witness a substantial CAGR by 2023
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Key Players in Automotive Augmented Reality Market are-
The prominent players in the global Automotive Augmented Reality Market include Delphi Automotive (Ireland), Panasonic (Japan), Hyundai Motor (South Korea) BMW (Germany), Alphabet (US), Robert Bosch GmbH (Germany), Denso (US) ,Garmin International (US) & ContinentalAG (Germany).
Automotive Augmented Reality Market Segmentation:
The scope of the study segments the global automotive Automotive Augmented Reality market by sensor technology, level of autonomous driving, function, and regions.
By Sensor Technology
- LIDARSensor fusion
- Radar
- CCD/ VMOs Image Sensors
By level of Autonomous Driving
- Conventional
- Semi-Autonomous
By Function
- AR HUD with Navigation
- AR HUD With Standard Functions,
- AR HUD With Lane Departure Warning
- Advanced AR HUD
- AR HUD With Adaptive Cruise Control
Market Research Analysis:
In terms of region, the global market for the Automotive Augmented Reality is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is estimated to hold the highest revenue market share and is expected to dominate during the forecast period. Presence of China, India, Japan, Thailand, and South Korea where the sales of automobiles has continuously gone up due to the increased urbanization and growing purchasing powers of consumers, has proven to be a key driver in this region. Rise in respective government initiatives to increase awareness regarding road safety is further expected to boost the Asia-Pacific market size. In Europe, growing R&D and innovations in the field of autonomous and semi-autonomous vehicles will drive the growth for Automotive Augmented Reality market. Europe is estimated to hold the second highest revenue market share and expected to continue its growth during the forecast period
Emerging Technology:
Competition amongst Augmented Reality manufacturers is a key factor responsible for the growth of the Augmented Reality market as manufacturers constantly focus on developing different features to differentiate their products and match the weight, speed and transmission requirements of automotive manufacturers. Rising penetration of semi-automatic transmission systems globally such as AMT (Automated Manual Transmission) and DCT (Dual Clutch Transmission in the commercial and passenger vehicles segments is likely to drive the Augmented Reality market during the forecast period.
Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Threat of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power of Buyers
3.2 Value Chain/Supply Chain Analysis
Continue….
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