Automotive AR and VR Market : Global Industry Analysis And Forecast (2023-2029)

Global Automotive AR and VR Market size is expected to reach US$ 783.25 Bn. by 2029, at a CAGR of 1.7% during the forecast period.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.To know about the Research Methodology:-Request Free Sample Report

Technological advancement in connectivity primarily drives the growth of the market. Additionally, upsurge in need of virtual reality in automotive and cost-effective benefits from the AR and VR based solutions are responsible for the growth of the market. Moreover, formation of mixed reality (MR) from combination of AR and VR and the development of HUD system to enhance safety ensures developing growth opportunities for this market. This is anticipated to boost the growth of the market in future. On the other hand, the serious threats to the physical and emotional wellbeing of the end-users and high dependency on internet connectivity are expected to hinder the growth of market.
Automotive AR and VR Market Segment Analysis:
According to application segment, research &development accounted for a quarter of the global revenue in 2022. The segment is anticipated to continue the inclination during the forecast period and attain xx Billion by 2029, due to rise in the usage of both AR and VR in automotive R&D to develop concepts, identify problems, and test prototypes. Though, the product segment is expected to exhibit the fastest growth rate during the forecast period, a CAGR of xx %, due to the increased demand for autonomous vehicles that implement AR and VR as a product in their vehicle.

The major key players in the automotive industry have adopted various strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
Regional Insights:
Geographically, Asia-Pacific is projected to witness the highest CAGR of xx %, on account of significant rise in government investments and initiative in developing economies such as China and India for the adoption of AR & VR technology in automotive and digital manufacturing. Meanwhile, North America is expected to continue its dominance and occupy more a quarter of the global market throughout the forecast period, due to the wide usage of 4G in AR and VR application and the early launch of 5G connectivity.

The report will help to forecaster and it demonstrates market dynamics which includes growth drivers, restraining factors and opportunities and trends spearheading existing nature and future status of this market.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global market.
Automotive AR and VR Market, Key Highlights:
Global market analysis and forecast, in terms of value.

Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global market

Global Automotive AR and VR Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

Global Automotive AR and VR Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

Global Automotive AR and VR Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Automotive AR and VR Market are also profiled.
Automotive AR and VR Market Scope: Inquire before buying



Global Automotive AR and VR Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 696.07 Bn.


Forecast Period 2023 to 2029 CAGR:
1.7%
Market Size in 2029:
US $ 783.25  Bn.


 Segments Covered:
by Type
Augmented Reality (AR)
Virtual Reality (VR)


by Application
Research & Development
Manufacturing & Supply
Marketing & Sales
Aftersales
Support Functions
Product



By Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Automotive AR and VR Market, Key Players
1. Continental
2. Microsoft
3. Visteon Corporation
4. Volkswagen
5. Unity
6. Bosch
7. DAQRI
8. HTC
9. Hyundai Motor
10. Wayray
11. NVIDIA
12. DENSO
13. Nippon Seiki
14. HP Development Company, L.P
15. Garmin
16. General Motors
17. HARMAN International
18. Jaguar
19. Mercedes-benz
20. Panasonic

Frequently Asked Questions:

1. Which region has the largest share in Global Automotive AR and VR Market?
Ans: Asia-Pacific region held the highest share in 2022.

2. What is the growth rate of Global Automotive AR and VR Market?
Ans: The Global Automotive AR and VR Market is growing at a CAGR of 1.7% during forecasting period 2023-2029.

3. What is scope of the Global Automotive AR and VR Market report?
Ans: Global Automotive AR and VR Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Automotive AR and VR Market?
Ans: The important key players in the Global Automotive AR and VR Market are – Continental, Microsoft, Visteon Corporation, Volkswagen, Unity, Bosch, DAQRI, HTC, Hyundai Motor, Wayray, NVIDIA, DENSO, Nippon Seiki, HP Development Company, L.P, Garmin, General Motors, HARMAN International, Jaguar, Mercedes-benz, and Panasonic

5. What is the study period of this Market?
Ans: The Global Automotive AR and VR Market is studied from 2022 to 2029.