Automotive Augmented Reality Market: Global Industry Analysis and Forecast (2024-2030)

Automotive Augmented Reality Market Definition:

Augmented reality (AR) is a technology that gives a constant perspective on the real time existence where components are augmented by computer created input like sound, video, or illustrations. In the automotive area, the AR framework is a higher degree of advancement of automotive heads-up display (HUD) and other direction on the way to developing completely autonomous vehicle technology. The automotive market is creating and manufacturing new and high level hardware like augmented reality dashboards, windscreens, and bonnets to impact the market and pursue the new trends.

 

Further, the Automotive Augmented Reality market is segmented by Function, Sensor Technology, Distribution Channel, and geography. On the basis of Function, the Automotive Augmented Reality market is segmented under Standard AR HUD, AR HUD based navigation, AR HUD based adaptive cruise control, and AR HUD based lane departure warning. Based on the Vehicle Type, the Automotive Augmented Reality market is segmented under the channels of passenger vehicle and commercial vehicle. Based on the Sensor Technology, the Automotive Augmented Reality market is segmented under the channels of radar, LiDAR, CCD/CMOS Image sensor, Sensor Fusion. By geography, the market covers the following Regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

 

 

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Automotive Augmented Reality Market Dynamics:

In recent years, determined research and consistent improvement activities in automatic vehicle system have increased the interest for augmented reality (AR) advancements over the world. The tremendously rising interest for AR advances in the automotive area rides on the rear of the development of augmented reality head-mounted displays. These auto head-up show (HUDs) are considered to take AR innovation to higher levels, with a developing number of vehicles introducing them to help drivers' security. HUDs are furnished with transparent display screens and strikingly offer drivers direction on the without requiring them to modify their view, in this way reinforcing the comfort and security of drivers.

 

HUDs as next generation auto AR advancements have gotten some decent forward movement in luxury vehicles and provide data on changed aspects of the vehicles, like the speed of the vehicle, fuel status, driving course, working on the visibility in severe weather conditions. During the forecast period the AR innovations utilized in vehicles to up the comfort component of passengers will witness progresses. For example, HUDs will be supplanted by augmented reality displays at windows, which will give them more natural and vivid experience, like in diversion. Head up displays are transparent display screens introducing information without expecting driver to turn away from the view point.

 

Head-up displays (HUDs) were initially evolved by the military for information of driving headings through obscure ways. High level HUD frameworks can give turn-by-turn navigations by means of satellite and can further develop the street view display in low light circumstances by utilizing infrared or low-light cameras. Organizations are hoping to replace these HUDs with dynamic windows display/augmented reality shows that project vibrant pictures, route, and the wide range of various data on the windshield of the vehicle. These presentations are a more instinctive and more secure method for utilizing navigation, access data, make calls, and pay attention to music without moving the eyes from the street.

 

Recent advancement into display glass technology has progressively helped the augmented reality automotive market. The rising interest for advanced driving help system among buyers in developed and developing districts, joined with their rising reconciliation into the advanced vehicles by OEMs, is altogether supporting the market. Moreover, the adoption of in-vehicle safety elements and anti-collision advancements is a striking component catalysing the development of the market. Moreover, the new progression in different sensor technology is supporting the market.

 

The rising focus point of noticeable vehicle creators to remember completely automated vehicle advances in cost effective way is supposed to reinforce the interest for augmented reality in the automotive sector. The augmented reality auto market is assessed to develop during the forecast period. The market for augmented reality auto applications is basically determined by the increased demand for cutting edge driving technology frameworks by OEMs across various vehicle types, and consumer interest for in-vehicle security includes that possibly diminish accidents brought about by human-driver errors. Moreover, the augmented reality auto market is likewise impacted by the rising degree of driving automation and progress toward completely independent vehicles.

 

A key component restraining the development of the augmented reality auto market is the significant expense of developing the display framework and its related technologies. The AR HUD includes the complex interlinking of electronic and mechanical parts and vehicle sensors. The system empowers the vehicle windshield to turn into an advanced display with computational capacities.

 

The AR HUD would assume a critical part in the automotive cockpit and, with increasing level of autonomous driving; the system is expected to play a significant role in automated vehicles. Because of this, organizations entering the market will have to invest vigorously in research and development work for creating and testing models of AR HUD with advanced display technology. The high expenses involved could restrain the development of augmented automotive reality market.

 

Automotive Augmented Reality Market Segment Analysis:

By Function, the market is segmented into standard AR HUD, AR HUD based navigation, HUD based adaptive cruise control and HUD based lane departure warning. The HUD based navigation segment is expected to witness the quickest CAGR of 19.6% over the forecast period. The rising consumer inclination for AR for navigation is supposed to drive the market development. Moreover the standard AR HUD system segment dominated the market in 2023 attributable to the developing adoption by OEMs.

 

 

 

By sensor technology, the market is segmented into radar, LiDAR, CCD/CMOS picture sensor and sensor fusion. The sensor fusion segment holds the biggest market share during the forecast period. Sensor fusion consolidates the information from different sensor like radar, LiDAR, CMOS and others bringing about more precision than individual sensors. The rising interest for high data accuracy for AR gadgets in car will drive the development during the forecast period.

 

Additionally, this sensor combination works definitively on different streets and weather patterns; thus they are profoundly preferred in this industry. The active development of semi-autonomous and autonomous vehicles will boost the demand for sensor fusion based AR HUD. 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.

 

By vehicle type, the market is segmented into the passenger vehicles segment represented the largest market share of 91% in 2023. This technology is at present in the developing stage and OEM prefers to deploy the innovation in passenger vehicle. For Instance the integration of AR HUD with passenger vehicle is much easier than a business vehicle inferable from the curve of the previous' windshield. Also the passenger vehicle with an elevated degree of automated driving is more reasonable for AR application.

 

Automotive Augmented Reality Market Regional Insights:

North America dominated the augmented reality automotive market with market size of USD 1.50 billion attributable to mechanical progressions in the region. Moreover well-established key players will also help the market development during the forecast period. Besides the rising passenger vehicle deals and the reception of electric vehicles would positively impact market development. Moreover the manufacturer’s inclination for conveying augmented reality in an electric vehicle is normal to drive the automotive market development during the forecast period. The demand for augmented reality automotive functions is directly linked to the vehicle in this region and the growing demand for luxury vehicles equipped with advanced technologies.

 

Europe held the second largest piece market share of 31.20 % in 2023 attributable to the strong presence of automotive area in Germany, UK and France. Additionally, the continuous technological progression in the area would additionally drive market development. The presence of well-established key players, for example, BMW, Volkswagen, Mercedes and other is the supporting component for the market in the region. Additionally these players are growing new passenger vehicle models with increased reality. For Instance BMW involves AR in its vehicles which screens and gives real time information of the motor and different parts on a mobile app.

 

Asia pacific will observe the quickest development of CAGR 20.7% during the forecast period. China will add to this development in the region. Furthermore the rising government and confidential ventures for the advancement of start-up in based on AR will support the market development in the region. Besides, the rising reception of electric vehicles in developing nations like China, India, Japan, etc. will help the market development during the forecast period. Additionally the rising innovative work on AR-based associated vehicles and independent vehicles will drive the market development.

 

Automotive Augmented Reality Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide Function portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the global market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Global Automotive Augmented Reality market to the stakeholders in the industry. The report provides trends that are most dominant in the Global Automotive Augmented Reality market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Global Automotive Augmented Reality Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Global Automotive Augmented Reality market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Global Automotive Augmented Reality market. The report studies factors such as company size, market share, market growth, revenue, product, volume, and profits of the key players in the Global Automotive Augmented Reality market.

 

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their Function quality is in the Global Automotive Augmented Reality market. The report also analyses if the Global Automotive Augmented Reality market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Global Automotive Augmented Reality market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Automotive Augmented Reality market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Global Automotive Augmented Reality market is aided by legal factors.

 

Automotive Augmented Reality Market Scope:

 

Automotive Augmented Reality Market
Market Size in 2023	USD 5.49 Bn.
Market Size in 2030	USD 11.54 Bn.
CAGR (2024-2030)	11.2 %
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Function Standard AR HUD AR HUD Based Navigation AR HUD Based Adaptive Cruise control AE HUD Based Lane departure warning
	By Sensor technology Radar LiDAR CCD/CMOS Image Sensor Sensor Fusion
	By Vehicle Type Passenger vehicle Commercial vehicle
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Automotive Augmented Reality Market Key Players:   

• 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)
• WayRay (Switzerland)
• Audi (Germany)
• Volkswagen AG (Germany)
• Jaguar Cars (England)
• Visteon Corporation (USA)
• Daimler AG (Germany)