The automotive augmented reality and virtual reality market share is expected to increase by USD 5.10 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 32.00%.
This automotive augmented reality and virtual reality market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive augmented reality and virtual reality market segmentations by technology (AR and VR) and geography (Europe, APAC, North America, MEA, and South America). The automotive augmented reality and virtual reality market report also offers information on several market vendors, including Continental AG, DENSO Corp., Garmin Ltd., Hyundai Motor Co., JAGUAR LAND ROVER AUTOMOTIVE PLC, Microsoft Corp., Nippon Seiki Co. Ltd., NVIDIA Corp., Robert Bosch GmbH, and Volkswagen AG among others.
What will the Automotive Augmented Reality and Virtual Reality Market Size be During the Forecast Period?
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Automotive Augmented Reality and Virtual Reality Market: Key Drivers and Challenges
The emergence of virtual reality showrooms and events is notably driving the automotive AR and VR market growth, although factors such as slowdown in automotive industry may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive augmented reality and virtual reality industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
This automotive augmented reality and virtual reality market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Who are the Major Automotive Augmented Reality and Virtual Reality Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Continental AG
- DENSO Corp.
- Garmin Ltd.
- Hyundai Motor Co.
- JAGUAR LAND ROVER AUTOMOTIVE PLC
- Microsoft Corp.
- Nippon Seiki Co. Ltd.
- NVIDIA Corp.
- Robert Bosch GmbH
- Volkswagen AG
This statistical study of the automotive augmented reality and virtual reality market encompasses successful business strategies deployed by the key vendors. The automotive AR and VR market is concentrated and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive augmented reality and virtual reality market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Which are the Key Regions for Automotive Augmented Reality and Virtual Reality Market?
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45% of the market’s growth will originate from Europe during the forecast period. Germany and UK are the key markets for automotive augmented reality and virtual reality in Europe. Market growth in this region will be faster than the growth of the market in MEA, North America, and South America.
The increased demand for AR and VR technologies will facilitate the automotive augmented reality and virtual reality market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating Technology Segments in the Automotive Augmented Reality and Virtual Reality Market?
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The automotive augmented reality and virtual reality market share growth by the AR segment will be significant during the forecast period. The AR technology in the automotive industry is in the research phase of the product lifecycle. The revenue of this segment will increase exponentially due to the introduction of AR-based HUDs in the ultra-luxury vehicle segment. Apart from AR-based HUDs, the need for AR in automotive mechanics (designing and repairing) will also generate revenue in the segment, but at a lower rate because OEMs are directly partnering with AR technology providers to make this possible for their own benefits.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive AR and VR market size and actionable market insights on post COVID-19 impact on each segment.
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Automotive Augmented Reality and Virtual Reality Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 32.00% |
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Market growth 2021-2025 |
$ 5.10 billion |
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Market structure |
Concentrated |
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YoY growth (%) |
10.63 |
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Regional analysis |
Europe, APAC, North America, MEA, and South America |
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Performing market contribution |
Europe at 45% |
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Key consumer countries |
US, China, Germany, Japan, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Continental AG, DENSO Corp., Garmin Ltd., Hyundai Motor Co., JAGUAR LAND ROVER AUTOMOTIVE PLC, Microsoft Corp., Nippon Seiki Co. Ltd., NVIDIA Corp., Robert Bosch GmbH, and Volkswagen AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Automotive Augmented Reality and Virtual Reality Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive automotive augmented reality and virtual reality market growth during the next five years
- Precise estimation of the automotive augmented reality and virtual reality market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive AR and VR industry across Europe, APAC, North America, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive AR and VR market vendors
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