Automotive AR and VR Market Overview, Growth, and Trends (2021-2031)

MARKET INTRODUCTION

Augmented Reality (AR) & Virtual Reality (VR) combines reality with digital content. Automotive companies are relying on AR & VR to improve their manufacturing system, maintenance, individualizing the cockpit, effective advertising, and marketing to enhance customer satisfaction level. AR applications are special 3D programs that enable developers to integrate digital context with the real world. VR uses the head-mounted display (HMD) to take the end through an artificial world to provide synthetic experience and virtual feedback. Increase in need of cost-effective, efficient manufacturing programs with real-time data analysis is fueling the automotive AR & VR market.

MARKET DYNAMICS

Rise in need for AR & VR in automotive manufacturing, growth in technically advanced devices, the advent of connected car technology, rise in gamification in the automotive industry for drivers' safety, development of new products digitally, are driving the automotive AR & VR market. However, high dependence on internet connectivity to avail these technologies is hindering the market growth, especially in emerging nations. On the other hand, the formation of mixed reality (MR) by integrating AR & VR, increasing adoption of electric vehicles, and development of HUD system in for enhancing safety are providing ample opportunities to the automotive AR & VR market.

MARKET SCOPE

The "Global Automotive AR & VR Market Analysis to 2031" is a specialized and in-depth study of the automotive AR & VR industry with a special focus on the global market trend analysis. The report aims to provide an overview of automotive AR & VR market with detailed market segmentation by type, device type, and geography. The global automotive AR & VR market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading automotive AR & VR market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global automotive AR & VR market is segmented on the basis of type and device type. Based on type, the market is segmented as augmented reality (AR) and virtual reality (VR). On the basis of the device type the market is segmented into HMD, HUD, Handheld Device, and Gesture Tracking.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global automotive AR & VR market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The automotive AR & VR market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting automotive AR & VR market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the automotive AR & VR market in these regions.

MARKET PLAYERS

The reports cover key developments in the automotive AR & VR market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from automotive AR & VR market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive AR & VR in the global market. Below mentioned is the list of few companies engaged in the automotive AR & VR market.

The report also includes the profiles of key automotive AR & VR companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

• Continental AG
• DAQRI
• HP Development Company, L.P
• Hyundai Motor Group
• Microsoft Corporation
• Robert Bosch GmbH
• Unity Technologies
• Visteon Corporation
• Volkswagen AG
• WayRay AG

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Automotive AR and VR Report Scope