Automotive Augmented Reality Market Expected to Reach at High Pace by 2024 | Know COVID-19 Analysis | Top Companies- Panasonic, Hyundai Motors

Market Research Future (MRFR), highlights that the “Global Automotive Augmented Reality Market 2020” is expected to grow exponentially, securing a significant market valuation and a vigorous CAGR of 18% over the evaluation period 2019–2024.

Growing demands of innovative features in vehicles have given birth to automotive augmented reality. This feature has enhanced the driving behaviors and is decreasing the margin of human errors. On observing the current market, the global automotive augmented reality market is projected to touch 18 % annual growth mark during the survey period. Automotive segmented reality is gaining pace due to rising demands of enhanced safety features; reduce accidents and potential dangers to lives from human driving errors.

The car companies in their showrooms, where a customer is capable of assessing the features of the vehicle, are also using automotive augmented reality technology. The customer gets the freedom of receiving the intended features as per their demands. This is computer operated and powered technology, which with the help of high-speed processor and displays produce the result. The augmented reality, when combined with GPS, helps in recognizing the pedestrians, traffic and on-road signboards. The technology developers are continuously working towards making automotive augmented reality reliable and fail-safe, Hence, expanding the global market.

The global automotive augmented reality market is moving towards a brighter future, but higher developing costs and related equipment is holding the market’s growing speeds. This whole technology is a combination of complicated devices and needs expertise for assembling them.

Automotive Augmented Reality global market’s segments:
The global automotive augmented reality market is segmented into four parts:
• Sensor technology: LIDAR (Light Detection And Ranging), radar, sensor fusion and VMOS (V-groove Metal Oxide Semiconductor) image source sensor technologies are employed.
• Autonomous driving: Conventional driving and Semi-Autonomous driving are there.
• Function: AR HUD (Augmented Reality Heads Up Display) based navigation, AR HUD based lane departure warning, AR HUD based adaptive cruise control and standard AR HUD functions are there.
• Applications: This technology is used in passengers and commercial vehicles.

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Key Players:
The prominent players in the global Automotive Augmented Reality industry include Delphi Automotive (Ireland), Panasonic (Japan), Hyundai Motors (South Korea) BMW (Germany), Alphabet (US), Robert Bosch GmbH (Germany), Denso (US), Garmin International (US) & Continental AG (Germany).

Regional Market Summary:
America, Europe, Asia Pacific and The Middle East and Africa are the four major regions observed for the global automotive augmented reality market.
The American region is the primary automotive augmented reality market and is expected to maintain the same during the survey period. Presence of key market players, increasing road safety awareness, demands for better technologies and other key factors are helping the market in this region. The Asia Pacific is the second-largest market and will show the highest growth rate during this period. Expanding the automotive industry, demands for safety features in vehicles, rise in per capita income, and other factors are driving the market here.

The European region is the third-largest market due to rising awareness & demands for safety measures, increasing investments in research & production programs and other factors are helping the market for better future stance.
The rest of the regions will show comparatively slow growth pace due to limited disposable incomes and weak economic postures.

Recent Industry News:
The global automotive augmented reality market is seeking a brighter future, but the high equipment cost is damaging the development speeds. The American region is the current market leader, whereas the Asia Pacific region will show the fastest growth rates during the survey period.

Major Highlights of TOC Covers:
1. Executive Summary
2. Key Business Trends
3. Regional Trends and Growth
4. Product Trends
5. End-use Trends
6. Definition and Forecast Parameters
7. Automotive augmented reality Market Segmentation
8. Automotive augmented reality Market Landscape
9. Vendor Matrix
10. Company Profiles
11. Business Overview
12. Financial Data
More…

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