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MarketersMEDIA / Newsroom / At 30+% CAGR Augmented Reality Automotive Market Size To Hit $7.98 Billion by 2025 Led by North America Region

At 30+% CAGR Augmented Reality Automotive Market Size To Hit $7.98 Billion by 2025 Led by North America Region

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The augmented reality automotive market is projected to grow at a CAGR of 30.31% to reach a market size of $7.98 Billion by 2025 driven by increasing demand for in-vehicle safety features, adoption of advanced driver assistance systems by OEMs.

— Semi-autonomous is the fastest growing segment of the augmented reality automotive market, by level of autonomous driving. With the increase in demand for semi-autonomous functions, the penetration of semi-autonomous vehicles is expected to rise in the coming years. The demand for semi-autonomous vehicles is driven by the need for a more comfortable and safe driving experience that will provide enhanced safety, even in potentially dangerous driving circumstances.

Browse 95 Market Data Tables and 61 Figures spread through 184 Pages and in-depth TOC on "Augmented Reality Automotive Market by Function (AR HUD Navigation, AR HUD ACC, AR HUD LDW & Advanced AR HUD), Sensor Technology, Display Technology, Level of Autonomous Driving, Electric Vehicle, Vehicle Type, and Region - Global Forecast to 2025"

In addition, technologically driven companies and OEMs are collaborating to make semi-autonomous vehicles a safe mode of transportation, thereby engaging consumer curiosity. Semi-autonomous driving capabilities, which use adaptive cruise control and advanced sensor technologies, can help the vehicle to provide in-depth information to the driver on vehicle data and external environment. The semi-autonomous functions will not only alert the driver of potential dangers but will also have advanced control capabilities, reducing the stress of driving for the driver. Since the AR HUD will make this information available in the driver’s field of view, it will enhance the safety of the vehicle and the passengers.

The sensor fusion technology is estimated to be the largest segment of the augmented reality automotive market. The active development of semi-autonomous and autonomous vehicles will boost the demand for sensor fusion based AR HUD by 2025. Sensors play a critical part in the optimum functioning of the AR HUD and blending the sensor technologies will provide data accuracy for critical safety applications such as higher levels of autonomous driving.

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Rapid technological advancement and increasing consumer demand for advanced safety functions are expected to fuel the demand for the augmented reality automotive market. This highly advanced technology is expected to be launched in luxury and premium range of vehicles once it becomes commercially available in 2018–2019. The luxury car segment is one of the larger contributors to the global luxury goods market. This car segment is primarily led by the demand for technologically advanced cars in developed countries such as U.S., Germany, U.K. and emerging markets such as China and Brazil that have an increasing number of affluent buyers. With growing demand for in-vehicle safety functions and advanced technology, OEMs are increasingly combining connectivity and safety functions to maintain brand differentiation and attract consumers. The growth of such combinations could escalate the role for augmented reality head-up displays (AR HUD), which would integrate real-time advanced driver assistance systems with the safety functions of AR HUD.

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“Passenger car is the fastest growing segment of the augmented reality automotive market”

Passenger cars are estimated to account for the largest share of the augmented reality automotive market. The market growth in the segment can be attributed to the growing demand for advanced technology in passenger cars. The need to monitor multiple in-vehicle displays can be a cause of distraction for the driver, triggering potential dangerous situations on the road. The AR HUD will enhance safety by displaying all the information required by the driver on the windshield of a vehicle in the driver’s line of sight. The AR HUD, when integrated with active and passive systems, will assist a driver in avoiding crashes. The demand for such advanced technology is expected to increase in developing and developed countries such as the U.S., Germany, U.K., China, and Japan, where there is high adoption of advanced in-vehicle safety technologies.

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“OLED, AMOLED: Fastest growing display technology of the augmented reality automotive market”

The other advanced display technologies including OLED, AMOLED, etc. are widely used in consumer electronics applications such as television displays, smart phones, and others. These advanced display technologies allow flexibility in design and color and provide an enhanced visual appeal. They offer superior quality images and brighter displays as compared to LCD and TFT-LCD display panels. However, these display technologies are not frequently used in automotive applications due to low-temperature resistance and durability of these panels for automotive functions. The demand for visually appealing and legible augmented reality imagery will grow with increasing integration of advanced driver assistance systems in AR HUD.The semi-autonomous and autonomous passenger cars and electric vehicles are expected to be equipped with advanced ARHUD. This is expected to drive the demand for advanced display technology panels at a fast rate.

Breakdown of Primaries

The study contains insights provided by various industry experts, ranging from equipment suppliers to Tier-1 companies and OEMs.

The break-up of the primaries is as follows:

By Company Type :Tier-1–45%, Tier-2–32%, and OEM–23%
By Designation : C level–35%, D level–25%, Others–40%
By Region : North America–35%, Europe–35%, Asia-Oceania–25%, RoW–5%

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The report provides detailed profiles of the following companies:
1. Continental AG
2. Denso Corporation
3. Digi Lens Inc.
4. Garmin Limited
5. General Motors
6. Harman International Industries Inc.
7. Hyundai Motor Company
8. LG Business Solutions
9. Micro Vision, Inc.
10. Nippon Seiki Co, Ltd
11. Panasonic Corporation
12. Pioneer Corporation
13. Robert Bosch GmbH
14. Texas Instruments Inc.
15. Visteon Corporation
16. Volkswagen AG
17. WayRay SA
18. Yazaki Corporation

Research Coverage

The augmented reality automotive market has been segmented by function (standard augmented reality head-up display (AR HUD), AR HUD navigation, AR HUD adaptive cruise control, and AR HUD lane departure warning), sensor technology (radar, Lidar, image, and sensor fusion), display technology (TFT-LCD and other advanced technologies), electric vehicle (battery electric vehicle and other (hybrid electric vehicles)), level of autonomous driving (conventional and semi-autonomous), vehicle type (passenger cars and commercial vehicles) and region (Asia-Oceania, Europe, North America, and Rest of the World).The market has been projected in terms of volume (‘000 units) and value (USD million/billion).

Reasons to Buy the Report:

This report contains various levels of analysis, including industry analysis (factor analysis and Porter’s Five Forces) and company profiles and competitive leadership analysis, which together comprise and discuss the basic views on the emerging and high-growth segments of the augmented reality automotive market, competitive landscape, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.

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Name: Hrishikesh Patwardhan
Organization: ReportsnReports
Address: 2nd Floor, Metropole, Next to Inox Theatre, Bund Garden Road, Pune - 411001 Maharashtra, India.
Phone: +1-888-391-5441

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Source: MarketersMedia

Release ID: 242216

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