Augmented Reality In Automotive Market
Augmented Reality In Automotive Market Forecasts to 2030 - Global Analysis By Vehicle Type (Passenger Cars and Commercial Vehicles), Function (Standard AR HUD, AR HUD Based Navigation, AR HUD Based Adaptive Cruise Control and AR HUD Based Lane Departure Warning), Sensor, Technology, Propulsion, Level of Autonomous Driving, Application, End User and By Geography
According to Stratistics MRC, the Global Augmented Reality In Automotive Market is accounted for $7.46 billion in 2024 and is expected to reach $22.06 billion by 2030 growing at a CAGR of 19.8% during the forecast period. Augmented reality (AR) is transforming the automotive sector by improving driving experiences, safety, and convenience. AR technology allows for features like heads-up displays (HUDs), which project speed, navigation, and hazard alerts directly onto the windshield by fusing digital data with the physical world. This invention makes it possible for drivers to obtain important information without taking their eyes off the road.
According to the U.S. Government Accountability Office (GAO), augmented reality (AR) technologies, including automotive applications like head-up displays (HUDs), are expected to grow rapidly. The GAO reports that AR/VR hardware shipments are projected to rise from 9.7 million units in 2021 to 32.8 million by 2025.
Market Dynamics:
Driver:
Increasing use of connected automobiles
One important factor enabling AR in automotive applications is connected vehicle technology, which is bolstered by IoT and 5G developments. Real-time data sharing between automobiles, infrastructure, and the cloud is made possible by these technologies, opening the door for AR-based features like over-the-air software updates, real-time traffic alerts, and predictive navigation. Additionally, AR's contribution to the development of an intelligent and interactive driving environment is further enhanced by the growth of vehicle-to-everything (V2X) communication.
Restraint:
High costs for development and implementation
Large expenditures in system integration, software, and hardware are needed to develop and integrate AR technologies in automobiles. The production costs of advanced AR head-up displays (HUDs) are raised by their reliance on high-resolution projectors, sensors, and processors. Particularly in the mid-range and budget segments, automakers struggle to balance these expenses while maintaining competitive car prices. Furthermore, frequent software upgrades and maintenance raise operating expenses, which discourages broad adoption, especially from small and mid-sized automakers.
Opportunity:
Growing interest in autonomous cars
The automotive industry offers augmented reality (AR) a substantial opportunity due to the swift progress in autonomous driving technologies. Through interactive infotainment, route visualizations, and immersive displays, augmented reality (AR) systems can improve the passenger experience in self-driving cars. Moreover, autonomous fleets for logistics and ride-sharing are using AR to boost customer engagement and operational efficiency. In order to interpret and visualize complex sensor data in real-time and build safer and more user-friendly systems, augmented reality (AR) will become an essential component as self-driving technology advances.
Threat:
Privacy and data security issues
With the advancement of augmented reality (AR) technology in automotive systems, a substantial amount of data is also generated, including driving patterns, real-time location, and even personal information via smart vehicle features. This raises serious issues with privacy and data security. In order for AR applications to give drivers real-time overlays and updates, large amounts of data must be transferred securely to reduce the possibility of cyber attacks or data breaches. Vulnerabilities in AR systems may allow hackers to access private customer information or even take over car operations. Additionally, data compromise is more likely because of the intricacy of AR technologies in automobiles, which makes them a desirable target for cybercriminals.
Covid-19 Impact:
The COVID-19 pandemic had a mixed effect on the automotive industry's use of augmented reality (AR). On the one hand, production delays, supply chain interruptions, and decreased investment in non-essential technologies caused by the crisis slowed the development and expansion of AR technologies. Pressures on their finances caused automakers to postpone innovation in fields like infotainment systems, safety features, and augmented reality-based navigation. However, the pandemic hastened the transition to digital solutions, where augmented reality (AR) was essential in the development of remote car diagnostics and virtual showrooms.
The AR Head-Up Displays (HUDs) segment is expected to be the largest during the forecast period
The AR Head-Up Displays (HUDs) segment is projected to hold the largest share of the augmented reality (AR) market. These systems enable drivers to access navigation, speed, and safety warnings without taking their eyes off the road by projecting crucial information straight onto the windshield. By increasing situational awareness and decreasing distractions, this technology increases convenience and safety. HUDs are frequently found in luxury and high-end cars due to the growing demand for connected cars and advanced driver-assistance systems (ADAS). Furthermore, consumer’s desire for better driving experiences and the increased emphasis on safety are fueling the growth of AR HUD systems, which are now a common sight in the automotive industry.
The Car Dealerships segment is expected to have the highest CAGR during the forecast period
In the automotive industry, the Car Dealerships segment is anticipated to have the highest CAGR for augmented reality (AR). By offering immersive virtual showrooms, interactive vehicle displays, and virtual test drives, augmented reality is revolutionizing the way auto dealerships interact with prospective customers. Without the need for physical inventory, this improves the customer experience by enabling them to investigate car features in a more engaging and educational way. Moreover, car dealerships are using augmented reality (AR) technologies more frequently to draw in and keep customers as a result of the growing demand for individualized shopping experiences and the retail industry's shift toward digitalization.
Region with largest share:
Due to large investments in technology, high rates of AR technology adoption by automakers, and rising demand for improved driver assistance and navigation systems, the North American region is expected to hold the largest share of the Augmented Reality (AR) market in the automotive industry. With major automakers incorporating augmented reality features like augmented reality heads-up displays (AR HUDs) into their cars; the United States stands out as a major player in this region. Additionally, the region's leadership position is being maintained by its strong emphasis on research and development as well as a supportive regulatory environment for automotive innovations.
Region with highest CAGR:
During the forecast period, the augmented reality in the automotive market is anticipated to grow at the highest CAGR in the Asia-Pacific region. This expansion is fueled by the growing need for cutting-edge automotive technologies, like AR-assisted vehicle design, prototyping, and improvements to the customer experience. Leading this trend are nations like China and India, which have made large investments in augmented reality technology. Furthermore, the introduction of AR head-up displays is one example of China's innovations, whereas India is rapidly implementing augmented reality in Advanced Driver Assistance Systems (ADAS) in response to the country's increasing need for safety features in automobiles.
Key players in the market
Some of the key players in Augmented Reality In Automotive market include Continental AG, Audi AG, Hyundai Motor Company, Jaguar Cars, Daimler AG, WayRay AG, Texas Instruments Incorporated, BMW Group, Volkswagen AG, Denso Corporation, Panasonic Corporation, Visteon Corporation, Bosch GmbH and Novac Technology Solutions.
Key Developments:
In September 2024, Hyundai Motor Company and General Motors have signed an agreement to explore future collaboration across key strategic areas. GM and Hyundai will look for ways to leverage their complementary scale and strengths to reduce costs and bring a wider range of vehicles and technologies to customers faster.
In September 2024, Continental and Vitesco Technologies have reached an agreement based on their corporate separation agreement regarding the appropriate allocation of costs and liabilities from the investigations in connection with the supply of engine control units and engine control software. Vitesco Technologies will pay Continental €125 million.
In August 2024, Texas Instruments (TI) and the U.S. Department of Commerce have signed a non-binding Preliminary Memorandum of Terms for up to $1.6 billion in proposed direct funding under the CHIPS and Science Act to support three 300mm wafer fabs already under construction in Texas and Utah.
Vehicle Types Covered:
• Passenger Cars
• Commercial Vehicles
Functions Covered:
• Standard AR HUD
• AR HUD Based Navigation
• AR HUD Based Adaptive Cruise Control
• AR HUD Based Lane Departure Warning
Sensors Covered:
• Radar
• LiDAR
• CCD/CMOS Image Sensor
• Sensor Fusion
Technologies Covered:
• TFT-LCD
• OLED (Organic Light Emitting Diode)
• DLP (Digital Light Processing)
• Micro LED
• Other Technologies
Propulsions Covered:
• Battery Electric Vehicle
• Hybrid Electric Vehicles (HEVs)
• Plug-in Hybrid Electric Vehicles (PHEVs)
• Compressed Natural Gas (CNG) Vehicles
• Solar Electric Vehicles
• Other Propulsions
Level of Autonomous Drivings Covered:
• Non-Autonomous
• Autonomous
Applications Covered:
• AR Navigation Systems
• AR Head-Up Displays (HUDs)
• AR Windshields
• AR-enhanced Rearview Mirrors
• AR in Vehicle Showrooms
• AR for Vehicle Customization
• AR Maintenance and Repair Assistance
• AR Training for Technicians
End Users Covered:
• Automotive Manufacturers
• Car Dealerships
• Service Centers
• Consumers
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Augmented Reality In Automotive Market, By Vehicle Type
5.1 Introduction
5.2 Passenger Cars
5.3 Commercial Vehicles
6 Global Augmented Reality In Automotive Market, By Function
6.1 Introduction
6.2 Standard AR HUD
6.3 AR HUD Based Navigation
6.4 AR HUD Based Adaptive Cruise Control
6.5 AR HUD Based Lane Departure Warning
7 Global Augmented Reality In Automotive Market, By Sensor
7.1 Introduction
7.2 Radar
7.3 LiDAR
7.4 CCD/CMOS Image Sensor
7.5 Sensor Fusion
8 Global Augmented Reality In Automotive Market, By Technology
8.1 Introduction
8.2 TFT-LCD
8.3 OLED (Organic Light Emitting Diode)
8.4 DLP (Digital Light Processing)
8.5 Micro LED
8.6 Other Technologies
9 Global Augmented Reality In Automotive Market, By Propulsion
9.1 Introduction
9.2 Battery Electric Vehicle
9.3 Hybrid Electric Vehicles (HEVs)
9.4 Plug-in Hybrid Electric Vehicles (PHEVs)
9.5 Compressed Natural Gas (CNG) Vehicles
9.6 Solar Electric Vehicles
9.7 Other Propulsions
10 Global Augmented Reality In Automotive Market, By Level of Autonomous Driving
10.1 Introduction
10.2 Non-Autonomous
10.3 Autonomous
11 Global Augmented Reality In Automotive Market, By Application
11.1 Introduction
11.2 AR Navigation Systems
11.3 AR Head-Up Displays (HUDs)
11.4 AR Windshields
11.5 AR-enhanced Rearview Mirrors
11.6 AR in Vehicle Showrooms
11.7 AR for Vehicle Customization
11.8 AR Maintenance and Repair Assistance
11.9 AR Training for Technicians
12 Global Augmented Reality In Automotive Market, By End User
12.1 Introduction
12.2 Automotive Manufacturers
12.3 Car Dealerships
12.4 Service Centers
12.5 Consumers
13 Global Augmented Reality In Automotive Market, By Geography
13.1 Introduction
13.2 North America
13.2.1 US
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 Italy
13.3.4 France
13.3.5 Spain
13.3.6 Rest of Europe
13.4 Asia Pacific
13.4.1 Japan
13.4.2 China
13.4.3 India
13.4.4 Australia
13.4.5 New Zealand
13.4.6 South Korea
13.4.7 Rest of Asia Pacific
13.5 South America
13.5.1 Argentina
13.5.2 Brazil
13.5.3 Chile
13.5.4 Rest of South America
13.6 Middle East & Africa
13.6.1 Saudi Arabia
13.6.2 UAE
13.6.3 Qatar
13.6.4 South Africa
13.6.5 Rest of Middle East & Africa
14 Key Developments
14.1 Agreements, Partnerships, Collaborations and Joint Ventures
14.2 Acquisitions & Mergers
14.3 New Product Launch
14.4 Expansions
14.5 Other Key Strategies
15 Company Profiling
15.1 Continental AG
15.2 Audi AG
15.3 Hyundai Motor Company
15.4 Jaguar Cars
15.5 Daimler AG
15.6 WayRay AG
15.7 Texas Instruments Incorporated
15.8 BMW Group
15.9 Volkswagen AG
15.10 Denso Corporation
15.11 Panasonic Corporation
15.12 Visteon Corporation
15.13 Bosch GmbH
15.14 Novac Technology Solutions
List of Tables
1 Global Augmented Reality In Automotive Market Outlook, By Region (2022-2030) ($MN)
2 Global Augmented Reality In Automotive Market Outlook, By Vehicle Type (2022-2030) ($MN)
3 Global Augmented Reality In Automotive Market Outlook, By Passenger Cars (2022-2030) ($MN)
4 Global Augmented Reality In Automotive Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
5 Global Augmented Reality In Automotive Market Outlook, By Function (2022-2030) ($MN)
6 Global Augmented Reality In Automotive Market Outlook, By Standard AR HUD (2022-2030) ($MN)
7 Global Augmented Reality In Automotive Market Outlook, By AR HUD Based Navigation (2022-2030) ($MN)
8 Global Augmented Reality In Automotive Market Outlook, By AR HUD Based Adaptive Cruise Control (2022-2030) ($MN)
9 Global Augmented Reality In Automotive Market Outlook, By AR HUD Based Lane Departure Warning (2022-2030) ($MN)
10 Global Augmented Reality In Automotive Market Outlook, By Sensor (2022-2030) ($MN)
11 Global Augmented Reality In Automotive Market Outlook, By Radar (2022-2030) ($MN)
12 Global Augmented Reality In Automotive Market Outlook, By LiDAR (2022-2030) ($MN)
13 Global Augmented Reality In Automotive Market Outlook, By CCD/CMOS Image Sensor (2022-2030) ($MN)
14 Global Augmented Reality In Automotive Market Outlook, By Sensor Fusion (2022-2030) ($MN)
15 Global Augmented Reality In Automotive Market Outlook, By Technology (2022-2030) ($MN)
16 Global Augmented Reality In Automotive Market Outlook, By TFT-LCD (2022-2030) ($MN)
17 Global Augmented Reality In Automotive Market Outlook, By OLED (Organic Light Emitting Diode) (2022-2030) ($MN)
18 Global Augmented Reality In Automotive Market Outlook, By DLP (Digital Light Processing) (2022-2030) ($MN)
19 Global Augmented Reality In Automotive Market Outlook, By Micro LED (2022-2030) ($MN)
20 Global Augmented Reality In Automotive Market Outlook, By Other Technologies (2022-2030) ($MN)
21 Global Augmented Reality In Automotive Market Outlook, By Propulsion (2022-2030) ($MN)
22 Global Augmented Reality In Automotive Market Outlook, By Battery Electric Vehicle (2022-2030) ($MN)
23 Global Augmented Reality In Automotive Market Outlook, By Hybrid Electric Vehicles (HEVs) (2022-2030) ($MN)
24 Global Augmented Reality In Automotive Market Outlook, By Plug-in Hybrid Electric Vehicles (PHEVs) (2022-2030) ($MN)
25 Global Augmented Reality In Automotive Market Outlook, By Compressed Natural Gas (CNG) Vehicles (2022-2030) ($MN)
26 Global Augmented Reality In Automotive Market Outlook, By Solar Electric Vehicles (2022-2030) ($MN)
27 Global Augmented Reality In Automotive Market Outlook, By Other Propulsions (2022-2030) ($MN)
28 Global Augmented Reality In Automotive Market Outlook, By Level of Autonomous Driving (2022-2030) ($MN)
29 Global Augmented Reality In Automotive Market Outlook, By Non-Autonomous (2022-2030) ($MN)
30 Global Augmented Reality In Automotive Market Outlook, By Autonomous (2022-2030) ($MN)
31 Global Augmented Reality In Automotive Market Outlook, By Application (2022-2030) ($MN)
32 Global Augmented Reality In Automotive Market Outlook, By AR Navigation Systems (2022-2030) ($MN)
33 Global Augmented Reality In Automotive Market Outlook, By AR Head-Up Displays (HUDs) (2022-2030) ($MN)
34 Global Augmented Reality In Automotive Market Outlook, By AR Windshields (2022-2030) ($MN)
35 Global Augmented Reality In Automotive Market Outlook, By AR-enhanced Rearview Mirrors (2022-2030) ($MN)
36 Global Augmented Reality In Automotive Market Outlook, By AR in Vehicle Showrooms (2022-2030) ($MN)
37 Global Augmented Reality In Automotive Market Outlook, By AR for Vehicle Customization (2022-2030) ($MN)
38 Global Augmented Reality In Automotive Market Outlook, By AR Maintenance and Repair Assistance (2022-2030) ($MN)
39 Global Augmented Reality In Automotive Market Outlook, By AR Training for Technicians (2022-2030) ($MN)
40 Global Augmented Reality In Automotive Market Outlook, By End User (2022-2030) ($MN)
41 Global Augmented Reality In Automotive Market Outlook, By Automotive Manufacturers (2022-2030) ($MN)
42 Global Augmented Reality In Automotive Market Outlook, By Car Dealerships (2022-2030) ($MN)
43 Global Augmented Reality In Automotive Market Outlook, By Service Centers (2022-2030) ($MN)
44 Global Augmented Reality In Automotive Market Outlook, By Consumers (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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