Automotive AR and VR Market - Players to See Huge Investments Opportunities in Asia-Pacific Region with 184% CAGR during 2020-2025 | Continental, Microsoft, Visteon Corp, Volkswagen, Unity, Bosch, DAQRI, HTC, Hyundai Motor, Wayray
o In 2017, based on type, the augmented reality (AR) segment generated the highest revenue.
o In 2017, based on application, the research & development segment was the highest revenue contributor.
o In 2017, based on region, North America contributed the highest market revenue, followed by Asia-Pacific, Europe, and LAMEA.
o Based on region, Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.
The key players analyzed in this automotive AR and VR market report are Continental, Microsoft, Visteon, Volkswagen, Unity, Bosch, DAQRI, HTC, Hyundai Motor, and Wayray.
Request For Report Sample (242 Pages PDF with Insights): https://www.alliedmarketresearch.com/request-sample/5151
According to a recent report published by Allied Market Research, titled,"Automotive AR and VR Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global automotive AR and VR market was valued at $213.0 million in 2017, and is projected to reach $673,602.2 million by 2025, registering a CAGR of 175.7% from 2018 to 2025.
At present, North America dominates the market, followed by Asia-Pacific, Europe, and LAMEA. U.S. dominated the global automotive AR and VR market in 2017, whereas Mexico is expected to grow at a significant rate in North America during the forecast period.
The advent of connectivity technological advancements primarily drive the growth of the market. In addition, high need of augmented and virtual reality in automotive and cost-effective benefits from the AR and VR based solutions are responsible for the growth of this market. However, the serious threats to the physical and emotional wellbeing of the end users and high dependence on internet connectivity are anticipated to hamper the growth of the AR and VR market. Furthermore, formation of mixed reality (MR) from integration of AR and VR and development of HUD system to enhance safety ensures emerging growth opportunities for this market.
Request For Customization: https://www.alliedmarketresearch.com/request-for-customization/5151
Allied Market Research recently published a report, titled, "Automotive AR and VR Market by Type (Augmented Reality (AR) and Virtual Reality (VR)) and Application (Research & Development, Manufacturing & Supply, Marketing & sales, Aftersales, Support Functions, and Product): Global Opportunity Analysis and Industry Forecast, 2018 - 2025". According to the report, the global automotive AR and VR market was valued at $213.0 million in 2017 and is expected to reach $673.60 billion by 2025, growing at a CAGR of 175.7% during the forecast period.
The growth of the global automotive AR & VR market is driven by the advent of technological advancements in connectivity such as introduction of 5G and growing prevalence of 4G around the world. Also, the use of AR and VR in designing & assembling phase is benefitting automotive companies significantly. For example, designing and visualizing the vehicle in AR and VR technology assists designers in visualizing the body structure of a vehicle to improve efficiency, safety, and durability.
However, for efficient functioning of AR and VR there is a requirement of continuous internet connectivity. In some countries especially in developing economies the internet speed is not fast enough for smooth functioning of AR and VR. Further, AR & VR systems pose a serious health issues to various individuals. For instance, AR and VR systems are known to cause eye strain, headaches, and, in some cases, nausea. These factors hinders the growth of automotive AR & VR market to its fullest potential. Nonetheless, the development of HUD systems to enhance safety and the formation of mixed reality (MR) by integrating AR and VR are expected to create lucrative opportunities for the market players in the near future.
Speak With Our Analysts: https://www.alliedmarketresearch.com/connect-to-analyst/5151
Augmented Reality (AR) segment to assert its dominance throughout the forecast period
Based on type, the augmented reality (AR) segment occupied more than three-fifths share of the global market in 2017 and is anticipated to maintain its dominance through 2025, owing to its ability to provide access of real-life environments through smartphones, tablet screens, and smart goggles & headsets to the user. However, the virtual reality (VR) segment is projected to register the fastest CAGR of 178.0% during the forecast period, due to the increased adoption of multi-sensory computer-generated simulated environment that saves time and money on costly iterations.
Research & Development segment poised to generate the highest revenue through 2025
Based on application, the research & development segment accounted for a quarter of the global revenue in 2017. The segment is expected to continue the trend during the forecast period and attain $162.39 Billion by 2025, due to a surge in the usage of both AR and VR in automotive R&D to develop concepts, identify problems, and test prototypes. However, the product segment is anticipated to exhibit the fastest growth rate during the forecast period, a CAGR of 185.0%, due to the increased demand for autonomous vehicles that implement AR and VR as a product in their vehicle.
Asia-Pacific to encounter the fastest growth from 2018 to 2025
Throughout the forecast period, Asia-Pacific is projected to witness the highest CAGR of 183.7%, on account of significant rise in government investments and initiative in emerging economies such as China and India for the adoption of AR & VR technology in automotive and digital manufacturing. Meanwhile, North America is projected to continue its dominance and occupy more a quarter of the global market through 2025, owing to the wide usage of 4G in AR and VR application and the early launch of 5G connectivity.
Inquire About Discount For Buying This Report: https://www.alliedmarketresearch.com/purchase-enquiry/5151
Key market players
The key players analyzed in the report include Continental, Microsoft, Visteon Corporation, Volkswagen, Unity, Bosch, DAQRI, HTC, Hyundai Motor, and Wayray. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive AR and VR Market - Players to See Huge Investments Opportunities in Asia-Pacific Region with 184% CAGR during 2020-2025 | Continental, Microsoft, Visteon Corp, Volkswagen, Unity, Bosch, DAQRI, HTC, Hyundai Motor, Wayray here
News-ID: 1988278 • Views: 281
More Releases from Allied Market Research
Electric Passenger Car Traction Motor Market Growth 2027 – Key drivers, Busine …
Traction motor produces resistance between two surfaces with or without using electricity. An electric passenger car traction motor is a vital component which is used for extracting electricity from the battery pack. Traction motor is installed in electric passenger vehicles to provide rotation torque for the movement of the car. Furthermore, stringent emission discharge norms and regulations drives the demand for electric passenger car. Moreover, quick expansion of EV charging
Electric Passenger Car Lithium-Ion Battery Management System Market Analysis of …
Electric passenger car has gained a considerable consumer popularity & acceptance in the past few years. Major improvements in the performance of an electric passenger car such as high acceleration rate and long driving range after a single charge have been boosting the demand for electric passenger vehicle. Further, a lithium-ion battery (LIB) is a type of rechargeable battery, which is popularly used in the field of electric passenger vehicles
Electric Bus Door System Market Trending Technologies, Developments, Key Players …
Buses have had a strong place in the transportation industry since the 1830s when the first steam bus was introduced in London. Since the year 1830, buses are considered as the most common mode of public transportation in almost every country across the world. Electric bus door system is an assembly of interconnected mechanisms which utilizes the power of electricity to automatically open the door. Furthermore, the electric bus
Commercial Vehicle & Off-Highway RADAR Market Trends, Segments, Emerging Technol …
Commercial & off-highway vehicles are large and utilized for multiple tasks such as transport of goods, mining, excavation, and others. Due to their large sizes and complicated applications, these vehicles are prone to accidents. Safety concerns increase with a high number of blind spots, thereby propelling the use of RADARs in these vehicles to alert the driver of various threats. In addition, safety & security has become a topmost priority
More Releases for Automotive
Automotive Sunroof Market
Automotive Sunroof is a fixed or operable opening in vehicle that allows light or fresh air to enter inside a car. Sunroof are of many shapes and sizes and styles and they are either manually driver or motor driven. Increasing demand for premium cars and growing need to control light inside the vehicle is fueling the growth of automotive sunroof market. The major driver influencing the growth of automotive sunroof is
Automotive MEMS Sensor
The Insight Partners added “Laser Technology Market to 2025” to its research database. The report is spread across 150 pages and supported by 10 company leaders. A laser is a coherent and focused beam of photons; coherent, in this context, means that it is all one wavelength, unlike ordinary light which showers on us in many wavelengths. Laser technology is used for an extensive range of professional field measurement applications which
Automotive Fasteners Market
Fasteners are the mechanical components that holds, joins or affixes two or more parts together, automotive industry is the largest market for the fastener. Automotive fasteners are made up of various materials such as Iron, Aluminum, Brass, Nickel, Stainless steel, Plastic, they are further classified with their distinct characteristics. Automotive fasteners are generally used for the clamping parts of vehicle together to avoid their separation or wobbling, transmitting loads as
Automotive Actuators Market 2017 - AK, FTE automotive
MarketReports.biz’s Automotive Actuators market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market. Request for sample @ https://goo.gl/auN0LC The Players mentioned in our report AK FTE automotive The report includes the forecasts, Analysis and discussion of important industry trends,
Automotive IoT Market
The Internet of Things (IoT) is reshaping several sectors, including automotive. With IoT, automobiles are now equipped with value added services and applications such as automated driving and real-time traffic alerts to improve the overall driving experience. Owing to increased disposable income among the urban population and demand for technologically advanced products, the automotive sector is currently flourishing. This factor is reflecting positively on global automotive IoT market, which is
Tweaked Automotive ‘Spectre Edition’
Tweaked Automotive announces its most recent special edition release, the Spectre Edition Land Rover Defender. The idea of executing a special Land Rover Defender build was circulating around the Tweaked Automotive design department for some time. The fact Land Rover ceased production of these much loved four wheel drives that have been around since 1948 prompted Tweaked Automotive to get stated as a matter of urgency. Hand in hand the 007TM