Augmented Reality Automotive Market: An Insight On the Important Factors and Trends Influencing the Market

Global Augmented Reality Automotive Market: Snapshot
In recent years, relentless research and constant development activities in autonomous vehicle systems have spurred the demand for augmented reality (AR) technologies world over. The vastly rising demand for AR technologies in the automotive sector rides on the back of the evolution of augmented-reality head-mounted displays. These automotive head-up display (HUDs) are considered to take AR technology to the next levels, with a growing number of vehicles installing them to boost drivers’ safety. HUDs are equipped with transparent display screens and notably offer drivers guidance on the path and directions without needing them to alter their line of sight, thereby bolstering the comfort and safety of drivers.

In recent years, HUDs as next-generation automotive AR technologies have gained traction in high-premium cars and provide information on varied aspects of the vehicles, such as the speed of the vehicle, fuel status, driving direction, improving the visibility in inclement weather. In the coming years the AR technologies used in vehicles to up the comfort factor of passengers will witness marked advances. For instance, HUDs will be replaced by augmented reality displays at windows, which notable will provide them with more intuitive and immersive experience, such as in entertainment.

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Recent advances into display glass technology has increasingly benefitted the augmented reality automotive market. The rising demand for advanced driving assistance systems among consumers in developed and developing regions, combined with their increasing integration into the modern vehicles by OEMs, is significantly boosting the market. In addition, the adoption of in-vehicle safety features and anti-collision technologies is a notable factor catalyzing the growth of the market. Furthermore, the recent advancements in various sensor technologies is boosting the market. The increasing focus of prominent car makers to include fully autonomous vehicle technologies in cost-effective manner is expected to bolster the demand for augmented reality in the automotive sector.

Augmented reality (AR) is a technology that provides a real-time view of the physical world where elements are augmented by computer-generated input like sound, video, or graphics. In the automobile sector, the AR system is the next level of evolution of automotive heads-up display (HUD) and other guidance on the path to developing fully autonomous vehicle technology.

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The automobile market is developing and manufacturing new and advanced equipment like augmented reality dashboards, windscreens, and bonnets to influence the market and follow the new trend. As the automobile industry is taking the step toward the revolution and opting augmented reality, the modern vehicles have heads-up display (HUD), which has an advanced version as AR system, which prevents drivers from looking away from the road.

Augmented reality (AR) is a most valuable technology and secure solutions for customers across the globe. Heads-up displays are transparent display screens presenting data without requiring driver to look away from the view point. Heads-up displays (HUDs) were originally developed by the military for information of driving directions through unknown paths Currently, HUDs are used in luxury cars and can provide information about the speed of the vehicle, driving direction, remaining fuel, low visibility weather, and can be connected to smartphones.

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Segmentation on the basis of display technology includes TFT-LCD, and other advanced technologies. Segmentation based on electric vehicle includes battery electric vehicle, and others (Hybrid). In terms of level of autonomous driving, it is divided into conventional and semi-autonomous. Vehicle type includes passenger cars and commercial vehicles. The global augmented reality automotive market has been studied for five geographic regions, namely Asia Pacific (China, Japan, India, and South Korea), Europe (Germany, France, Italy, and the U.K.),North America (Canada, Mexico, and the U.S.),South America (Brazil and Argentina), and Middle East & Africa (MEA).

The augmented reality automotive market is estimated to grow during the forecast period. The market for augmented reality automotive applications is primarily driven by the increase in adoption of advanced driving assistance systems by OEMs across different vehicle types, and consumer demand for in-vehicle safety features that potentially reduce collisions and injuries caused by human-driver errors. Additionally, the augmented reality automotive market is also influenced by the increasing level of driving automation and progress toward fully autonomous vehicles.

The major players of the augmented reality automotive market includes Hyundai Motor, BMW AG, Continental AG, Garmin, Pioneer Electronics, Audi, Jaguar, Volvo, Mercedes Benz, and Volkswagen Group.

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