Technological advancements in autonomous vehicles, increasing driver safety concerns and development of AR & VR technology will drive the market at high CAGR during the forecast period. Market size – USD 389.5 million in 2018, market growth – 120.6% CAGR, market trends – advent of connectivity and technology, development of HUD to improve security; Asia-Pacific is expected to register the highest market share during the forecast period
Automotive AR & VR was valued at $ 389.5 million in 2018 and is expected to reach $ 218.45 billion by 2026, at a CAGR of 120.6% during the forecast period (2018 to 2026) . The growth of augmented reality and automotive virtual reality is mainly due to technological advancements in connectivity such as the development of 5G and the increasing prevalence of 4G around the world.
Augmented Reality (AR) is a digital layer superimposed on the physical world. AR applications are built on special 3D programs that allow developers to combine contextual or digital content with the physical world. Plus, it integrates the real environment with virtual details that enhance the overall driver and passenger experience. This is achieved by examining real-life environments through a wearable device like smart glasses or AR-compatible headsets, a smartphone, or a tablet screen. Automotive AR is primarily used in the app which displays features like navigation and smart signage on a windshield.
Virtual reality (VR) primarily uses head-mounted display (HUD) glasses for the creation of an interactive and fully digital environment and visual feedback. In addition, virtual reality in the automotive industry is a 3D computer-generated environment, which takes the end customer into an artificial world.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2449
Ford uses Holo Lens (developed by Microsoft) to combine old and new car models, which saves time and allows designers to experiment quickly. Ford developed the Ford Immersive Vehicle Environment (FIVE) system, which decodes designs into virtual cars. With the help of technology, Ford enables designers to collaborate with each other across the world, and then they can inspect car components down to the smallest level.
AR & VR technologies are making their way effectively into the global automotive industry. These technologies, with more technological development, may take the throne in the next few years. Therefore, several automotive OEMs are currently investing in the research, development and implementation of automotive AR & VR products.
To identify key industry trends, click on the link below: https://www.reportsanddata.com/report-detail/automotive-ar-and-vr-market
Other key findings from the report suggest-
- Asia-Pacific region is expected to grow with highest CAGR due to increasing population and growth of automotive industry
- Mixed Reality (MR) training from the integration of augmented and virtual reality (AR & VR) as well as the technological development of the HUD system to strengthen security, which will further stimulate the growth of automotive AR & VR
- By application segment, the R&D segment accounted for a quarter of global automotive AR & VR in 2018.
- Used car dealers like Vroom are embracing automotive AR & VR technology to remotely showcase their available assortment of car models. It can be costly to physically bring each vehicle to customers for demonstration purposes only
- BMW pioneered the use of RA for vehicle maintenance work. In the BMW system, service technicians wear helmets that project instructions, tools and procedures onto the current work area
- The dealership projects the 360 ° impressions of the vehicle, and a customer can drive around as if it were a real car using simultaneous location and mapping (SLAM) technology.
- At CES 2019, Nissan showcased its new technology – the Invisible-to-Visible (I2V) technology concept which creates “a 360-degree virtual space around the vehicle to provide real-time road data and render assistance to the vehicle. safer and smarter manual navigation.
- With the help of AR technology, sellers use their smartphone’s camera to view the car with information overlaid on all available options, financing, and parameters such as weight, performance or mileage.
- Regional development in the region – Asia-Pacific during the forecast period is expected to be high, as favorable government investments and initiatives in developing countries like China and India for the implementation of AR technology & VR in automotive and digital production
- Many companies like Robert Bosch GmbH, Microsoft Corp., Continental AG, Hyundai Motor Group, Volkswagen AG, Unity Technologies ApS, Visteon Corp., HTC Corp., WayRay AG and others operate in the automotive world AR & VRplace
Reasons to buy this report
- This report provides an accurate analysis of changing competitive dynamics
- It provides a forward-looking perspective on the various factors that stimulate or constrain growth
- It provides a six-year forecast assessed on the basis of the expected growth of the
- It helps to understand key product segments and their future It provides accurate analysis of changing competitive dynamics and helps you stay ahead of your competition
- He helps to make informed business decisions by having a complete view and performing in-depth segment analysis
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/2449
Chapter 1. Segmentation and Impact Analysis of Augmented Reality and Automotive Virtual Reality
1.1. Automotive AR & VR segmentation analysis
1.2. AR & VR Automotive Value Chain Analysis, 2016-2026
1.3. Regulatory framework
1.4. AR & VR automotive impact analysis
1.4.1. Driver analysis
18.104.22.168. Technological advancement of autonomous vehicles, 5G network
22.214.171.124. The growing safety concerns of drivers
1.4.2. Hold analysis
126.96.36.199. Threats to the physical and emotional well-being of end users
1.5. Priority key opportunities
1.6. Automotive AR & VR Price Analysis
1.7. Industry Analysis – Porter’s
1.8. PESTEL automotive AR & VR analysis
Chapter 2. Automotive AR & VR by Function Type Insights and Trends
2.1. Automotive AR and VR: by type of function, dynamics and sharing, 2018 and 2026 2.2. R&D
2.2.1. Estimates and Forecasts, 2016-2026 (USD Million)
2.2.2. Estimates and Forecasts, by Region, 2016-2026 (USD Million)
2.3. Manufacturing and supply….
For the purpose of this study, reports and data have segmented the industry by function, type, component, and region:
Automotive AR & VR by Function (Revenue, USD Million; 2016-2026)
- Research and development
- Manufacturing and supply
- Marketing and sales
- After sale
- Assistance functions
Automotive AR & VR by Type (Revenue, USD Million; 2016-2026)
- Augmented reality
- Virtual reality
- Mixed reality
Automotive AR & VR by Component (Revenue, USD Million; 2016-2026)
- Image sensors
- Mounted spotlights
- Reflection mirrors
Automotive AR & VR by Region (Revenue, USD Million; 2016-2026)
- North America
- Rest of europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- Latin America
- Rest of Latin America
Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/2449
Reports and Data is a research and consulting company that provides syndicated research reports, custom research reports, and consulting services. Our solutions focus uniquely on your goal to locate, target and analyze changes in consumer behavior across demographics, across industries and help customers make smarter business decisions. We offer intelligence studies ensuring relevant and evidence-based research across multiple sectors including health, technology, chemicals, power and energy. We are constantly updating our research offerings to ensure that our clients are up to date with the latest trends that exist in the field. Reports and Data has a solid base of experienced analysts from various fields of expertise.
Company Name: Reports and data
Contact: John watson
E-mail: Send an email
Telephone: + 1-212-710-1370
Address: 40 Wall Street 28th Floor
City: New York City
State: NY 10005
Country: United States