The consistent evolution of the augmented reality technology has had its impacts on the automotive industry too. The rapidly evolving demands for the AR technology in the automotive sector ensures and focuses on driver safety. The head-up displays (HUDs) provide comfort for the driver for reading the things displayed as well as provide a comprehensive vision to surrounding factors. The HUDs are equipped with transparent displays and guide the driver on the path and the directions without altering their line of sight.
MARKET SCOPE
The "Global Augmented Reality Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the augmented reality market with detailed market segmentation by function, sensor technology, display technology, level of autonomous driving, and geography. The report provides key statistics on the market status of the leading augmented reality market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on function, the global augmented reality market is segmented into AR HUD With Navigation, AR HUD With Adaptive Cruise Control (ACC), AR HUD With Standard Functions, AR HUD With Lane Departure Warning (LDW) and Advanced AR HUD.
- On the basis of sensor technology, the market is segmented into LiDAR, Radar, Sensor Fusion and CCD/CMOS Image Sensors.
- Based on display technology, the global augmented reality market is segmented into TFT-LCD and Other Advanced Technologies.
- Based on level of autonomous driving, the global augmented reality market is segmented into Fully Autonomous and Semi-Autonomous.
MARKET DYNAMICS
Drivers:
- Advancements in the display glass technology coupled with proliferating demands for driver assistance systems are anticipated to drive the global automotive augmented reality market during the forecast period.
- Increasing measures by automotive OEMs to ensure driver safety and guidance system integrations is providing new opportunities to the market players operating in the automotive augmented reality market..
Restraints:
- Higher technological integration costs is a major restraining factor for the automotive augmented reality market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The augmented reality market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring 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 America after evaluating political, economic, social and technological factors affecting the augmented reality market in these regions.
IMPACT OF COVID-19 ON AUGMENTED REALITY MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the augmented reality 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 marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from augmented reality market are anticipated to lucrative growth opportunities in the future with the rising demand for augmented reality in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the augmented reality market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Apostera GmbH
- Robert Bosch GmbH
- Continental AG
- Garmin Ltd.
- MicroVision
- NVIDIA Corporation
- Pioneer Corporation
- Texas Instruments Incorporated
- Visteon Corporation
- Panasonic Corporation
- Yutaka Giken Company Limited