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Augmented Reality Automotive Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Augmented Reality Automotive Market - Global Industry

Researchmoz added Most up-to-date research on "Augmented Reality Automotive Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025" to its huge collection of research reports.

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. 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.

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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. Advanced HUD systems can provide turn-by-turn navigation via satellite and can improve the road view display in low light conditions by using infrared or low-light cameras. Companies are looking to replace these HUDs with active windows displays/augmented reality displays that project vibrant images, navigation, and all the other information on the windshield of the car. These displays are a more intuitive and safer way to use navigation, access information, make calls, and listen to music without moving the eyes away from the road.

Augmented reality is expected to achieve customer acceptability since there is no need for the driver to look at the GPS box or dashboard as the GPS navigation system is displayed right on the windshield and helps the driver to interact with the app hands-free. One potential advantage is that since the device is based on active glass display technology, it can be easily fixed on the dashboard of any car.

The Augmented reality automotive market has been segmented by function, sensor technology, display technology, electric vehicle, level of autonomous driving, vehicle type, and region. Based on function, the market is classified into standard augmented reality heads-up displays, augmented reality heads-up displays based navigation, AR HUD based adaptive cruise control, and augmented reality heads-up displays based lane departure warning. In the case of sensor technology, there are sensors used as radar, liDar, CCD/CMOS image sensor, and sensor fusion. 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.

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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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