Augmented Reality (AR) Automotive Market 2016-2024: Global Strategic Analysis, Industry Trends, Overview & Future Growth

Global Augmented Reality in Automotive Market Anticipated to Cross USD 90.0 Billion by 2024

According to Goldstein Research, global augmented reality automotive market size is expected to surpass USD 90.0 billion by 2024, growing at a compounded annual growth rate of +32% during the forecast period 2016-2024. The total automotive industry acquires 12% market share of total augmented reality industry. Further, the growth in investments by the automobile manufacturers directed towards the inclusion of advanced technologies like augmented reality into the automobiles is driving the growth of the market.

The global augmented reality in automotive market analysis has been carried out on the basis of segmentation by product type, components, vehicle type, and geography. On the basis of product type, Standard AR HUD units segment is anticipated to acquire the large market share in the near future. Global augmented reality automotive industry is largely driven by North America with a market share of 40% in 2016, followed by Asia Pacific region. Global automotive augmented reality market is at the nascent stage and the companies such as Volkswagen are including it such that recently the company had introduced an app for its luxury brand Audi AG which lets customers to experience its AR-based test drive. Moreover, with significant adoption of AR technology by automotive HUD manufacturers will also boost the growth of global automotive HUD market in coming years.

Market Segmentation

On the basis of our in-depth analysis, Global Augmented Reality in Automotive Market can be segmented as follows:

By Product Type

  • Standard AR HUD
  • AR HUD based Navigation
  • AR HUD based Adaptive Cruise Control
  • AR HUD based Lane Departure Warning

By Components

  • Software
  • Hardware
    • Cameras
    • Sensors
      • Radars
      • LIDARs
      • Image Sensors

By Vehicle Type

  • Electric Vehicles
  • Autonomous Vehicles
  • Conventional Vehicles

 By Region

  • North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

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“Augmented Reality Automotive Market Analysis” contains the detailed overview of the global augmented reality automotive market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by product type, components, and vehicle type.

Further, for the in-depth analysis, Global Augmented Reality in Automotive Market Report encompasses the market growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Volkswagen Group, Daimler Group, Continental AG, WayRay SA, Visteon Corporation, Panasonic Corporation, etc.

The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments.

Overall, the report represents the augmented reality automotive market trends along with the global market forecast that will help market consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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