A recent report published by Infinium Global Research on automotive augmented reality market provides in-depth analysis of segments and sub-segments in the global as well as regional automotive augmented reality market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automotive augmented reality market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of global automotive augmented reality market. According to the report, the global automotive augmented reality market is projected to grow at a CAGR of 18.19% over the forecast period of 2020-2026.

Market Insight

Customers are demanding increased safety, assistance in navigation, and other technical functions in their cars to reduce the risk of a human mistake while driving. The development of windshield augmented reality head-up displays (AR HUDs) is expected to address all such consumer demands. AR HUDs enhance the driver experience with the help of see-through displays, and windshield projectors, to give the driver more information about their surrounding environment, conditions, and vital vehicle information, without distracting that person from driving. Moreover, augmented reality combined with computer vision and IoT improve the core of advanced navigation solutions and ADAS systems. This, in turn, results in enhanced safety for a driver and contributes to the development of an automotive connectivity ecosystem.

The growing adoption of connected vehicles is majorly driving the growth of the market. The connected vehicles are equipped with the head-up display (HUD) technology that overlays key information onto the screen in front of the driver, indicating directions and speed. Furthermore, the rise in awareness regarding road safety is anticipated to support market growth. A HUD system in combination with AR technology in a vehicle matches the driving safety information with the information on other vehicles and pedestrians in the real world and offers the information to the driver in real-time through a transparent display installed in front of the driver, fitting the driver's view. However, the concern over cybersecurity due to vehicle telematics and internet connectivity is hampering the market growth. On the other hand, the development of 5G technology is expected to boost the market growth in the future.

In terms of geography, North America generated the highest revenue in the global automotive augmented reality market. Strict legal and regulatory standards for driver safety in motor vehicles in the U.S. and Canada are majorly driving the demand for automotive augmented reality in North America. Moreover, the increasing demand for automation and safety in light-duty passenger and heavy-duty passenger vehicles is anticipated to drive the growth of the automotive augmented reality market in North America. On the other hand, Asia-Pacific is estimated to be the fastest-growing region in the global automotive augmented reality market. The government initiatives to regulate traffic and road accidents are promoting the growth of automation in automobiles, thus boosting the growth of the automotive augmented reality market in the Asia-Pacific region.

Segment Covered

The report on global automotive augmented reality market covers segments such as sensor technology, and vehicles. On the basis of sensor technology, the sub-markets include radar, LiDAR, CCD/CMOS image sensors, and sensor fusion. On the basis of vehicles, the sub-markets include passenger vehicles, and commercial vehicles.

Companies Profiled:

The report provides profiles of the companies in the market such as Robert Bosch GmbH, Continental AG, Panasonic Corporation, Visteon Corporation, Denso Corp, Texas Instruments Incorporated, Garmin Ltd, Honeywell International Inc, Microvision Inc, and others.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automotive augmented reality market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.