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Automotive Augmented Reality (AR) and Virtual Reality (VR) Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports
Automotive Augmented Reality (AR) and Virtual Reality (VR) MarketThe global market for Automotive Augmented Reality (AR) and Virtual Reality (VR) was estimated to be worth US$ 2199.4 million in 2023 and is forecast to a readjusted size of US$ 6752.9 million by 2030 with a CAGR of 17.0% during the forecast period 2024-2030.
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While augmented and virtual reality applications in mobile and gaming have recently emerged, these concepts have already been deployed for a variety of automotive use cases including AR HUDs, local and remote see-through applications, pre-sales experiences, vehicle desgin, manufacturing, maintenance, and user manuals. Main benefits are centered around a more intuitive and seamless user interface for drivers, especially critical for semi-autonomous driving and driving down costs.
Automotive is a key driver of this industry. According to data from the World Automobile Organization (OICA), global automobile production and sales in 2017 reached their peak in the past 10 years, at 97.3 million and 95.89 million respectively. In 2018, the global economic expansion ended, and the global auto market declined as a whole. In 2022, there will wear units 81.6 million vehicles in the world. At present, more than 90% of the world's automobiles are concentrated in the three continents of Asia, Europe and North America, of which Asia automobile production accounts for 56% of the world, Europe accounts for 20%, and North America accounts for 16%. The world major automobile producing countries include China, the United States, Japan, South Korea, Germany, India, Mexico, and other countries; among them, China is the largest automobile producing country in the world, accounting for about 32%. Japan is the world's largest car exporter, exporting more than 3.5 million vehicles in 2022.
By Type
• Augmented Reality (AR)
• Virtual Reality (VR)
By Application
• Research & Development
• Manufacturing & Supply
• Marketing & Sales
• Aftersales
• Support Functions
• Product
Key Companies
Continental, Microsoft, Visteon Corporation, Volkswagen, Unity, Bosch, DAQRI, HTC, Hyundai Motor, Wayray
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