Product Code: GVR-4-68040-298-4
Augmented Reality In Automotive Market Growth & Trends:
The global augmented reality in automotive market size is anticipated to reach USD 122.40 billion by 2030, growing at a CAGR of 41.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Augmented reality technology enables engineers and designers to evaluate and visualize virtual prototypes in real-world environments, facilitating the assessment of fit, form, and functionality of components before physical production begins. This capability allows for design improvements, rapid repetitions, and cost savings by reducing development time and the need for physical prototypes. AR technology streamlines production processes by providing real-time guidance and assistance to workers through digital overlays and instructions. This approach eliminates the need for traditional paper-based manuals, minimizes errors, and enhances productivity.
AR transforms customers' engagement with automotive products by allowing them to visualize vehicles in virtual showrooms, customize features, and even take virtual test drives. This immersive experience empowers customers to make informed purchasing decisions, enhances the buying experience, increases customer satisfaction, and ultimately drives sales.
Additionally, integrating AR with smartphones and wearable devices enhances connectivity and convenience for drivers. Seamless integration allows drivers to access AR-based navigation, infotainment, and vehicle control features directly from their mobile devices, providing on-the-go access to essential information and services.
Augmented Reality In Automotive Market Report Highlights:
- Augmented Reality Head-Up Display (HUD) with standard function accounted for 47.1% of the market share in 2023. AR-based HUDs offer advanced safety features such as lane departure warning systems, blind spot detection, pedestrian detection, and navigation metrics. These features are crucial for ensuring driver safety by providing real-time information directly in the driver's field of view, reducing distractions, and enhancing focus.
- The sensor fusion technology segment held the largest share in 2023. Sensor fusion technology merges data from various sensors, such as radar, LiDAR, and CMOS, resulting in higher accuracy than individual sensors. This accuracy is crucial for AR devices in automotive applications, driving the demand for sensor fusion technology to ensure precise and reliable data for advanced driver assistance systems and other AR functionalities.
- The TFT-LCD (Thin-Film Transistor Liquid Crystal Display) technology held the largest market share in 2023. TFT-LCD displays in automobiles aid drivers by assisting in reverse parking, providing collision alerts, and navigating routes without using smartphones. These advancements in AR lead to improvements in vehicle safety and indirectly increase the market's growth.
- The battery electric vehicle propulsion segment held the largest revenue share in 2023. Integrating AR in electric vehicles provides critical information such as battery levels and speed on windshields, which will prevent distraction.
- The autonomous driving segment held the largest revenue share in 2023. Integrating AR in autonomous vehicles enhances the driving and safety experience and lets drivers watch entertainment simultaneously.
- The commercial vehicle type segment is expected to grow significantly over the forecast period. AR is used in commercial vehicles for parking assistance, heavy load management, and assistance where the surroundings are invisible.
- In February 2023, Toyota launched an augmented reality (AR) experience for its Toyota Crown model in the U.S., developed in collaboration with Yahoo. Users can access this AR experience by scanning a QR code. Users view a 3D representation of the new car overlaid onto their surroundings through their phone's camera. It allows them to interact with the virtual car by rotating it, altering its color, zooming in, and even taking it for a virtual test drive.
Table of Contents
Chapter 1. Methodology And Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Function
- 1.2.2. Sensor Technology
- 1.2.3. Display Technology
- 1.2.4. Propulsion
- 1.2.5. Level of Autonomous Driving
- 1.2.6. Vehicle Type
- 1.2.7. Regional Scope
- 1.2.8. Estimates and Forecasts Timeline
- 1.3. Information Procurement
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Function Outlook
- 2.2.2. Sensor Technology Outlook
- 2.2.3. Display Technology Outlook
- 2.2.4. Propulsion Outlook
- 2.2.5. Level of Autonomous Driving Outlook
- 2.2.6. Vehicle Type Outlook
- 2.2.7. Regional Outlook
- 2.3. Competitive Insights
Chapter 3. Augmented Reality in Automotive Market Variables, Trends & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Market Size and Growth Prospects (USD Billion)
- 3.3. Industry Value Chain Analysis
- 3.4. Market Dynamics
- 3.4.1. Market Driver Analysis
- 3.4.1.1. Integrating AR in Vehicles Enhance Driving Experience
- 3.4.1.2. AR Assistance Aids Technicians Improve Efficiency, Reduce Maintenance, and Repair Errors
- 3.4.2. Market Restraint Analysis
- 3.4.3. Industry Opportunities
- 3.4.4. Industry Challenges
- 3.5. Augmented Reality in Automotive Market Analysis Tools
- 3.5.1. Porter's Analysis
- 3.5.1.1. Bargaining Power of the Suppliers
- 3.5.1.2. Bargaining Power of the Buyers
- 3.5.1.3. Threats of Substitution
- 3.5.1.4. Threats From New Entrants
- 3.5.1.5. Competitive Rivalry
- 3.5.2. PESTEL Analysis
- 3.5.2.1. Political Landscape
- 3.5.2.2. Economic Landscape
- 3.5.2.3. Social Landscape
- 3.5.2.4. Technological Landscape
- 3.5.2.5. Environmental Landscape
- 3.5.2.6. Legal Landscape
Chapter 4. Augmented Reality in Automotive Market: Function Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Augmented Reality in Automotive Market: Function Movement Analysis, USD Million, 2023 & 2030
- 4.2.1. AR HUD With Standard Functions
- 4.2.1.1. AR HUD With Standard Functions Market Estimates and Forecasts 2018 To 2030 (USD Million)
- 4.2.2. AR HUD Based Navigation
- 4.2.2.1. AR HUD Based Navigation Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 4.2.3. AR HUD Based Adaptive Cruise Control
- 4.2.3.1. AR HUD Based Adaptive Cruise Control Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 4.2.4. AR HUD Based Lane Departure Warning
- 4.2.4.1. AR HUD Based Lane Departure Warning Market Estimates and Forecasts 2018 to 2030 (USD Million)
Chapter 5. Augmented Reality in Automotive Market: Sensor Technology Size Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Augmented Reality in Automotive Market: Sensor Technology Size Movement Analysis, USD Million, 2023 & 2030
- 5.2.1. Radar
- 5.2.1.1. Radar Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 5.2.2. Lidar
- 5.2.2.1. Lidar Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 5.2.3. Image Sensor
- 5.2.3.1. Image Sensor Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 5.2.4. Sensor Fusion
- 5.2.4.1. Sensor Fusion Market Estimates and Forecasts 2018 to 2030 (USD Million)
Chapter 6. Augmented Reality in Automotive Market: Display Technology Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Augmented Reality in Automotive Market: Display Technology Movement Analysis, USD Million, 2023 & 2030
- 6.2.1. TFT-LCD
- 6.2.1.1. TFT-LCD Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 6.2.2. Others Display Technology
- 6.2.2.1. Others Display Technology Market Estimates and Forecasts 2018 to 2030 (USD Million)
Chapter 7. Augmented Reality in Automotive Market: Propulsion Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Augmented Reality in Automotive Market: Propulsion Movement Analysis, USD Million, 2023 & 2030
- 7.2.1. Battery Electric Vehicle
- 7.2.1.1. Battery Electric Vehicle Market Estimates and Forecasts 2018 To 2030 (USD Million)
- 7.2.2. Others
- 7.2.2.1. Others Market Estimates and Forecasts 2018 To 2030 (USD Million)
Chapter 8. Augmented Reality in Automotive Market: Level of Autonomous Driving Estimates & Trend Analysis
- 8.1. Segment Dashboard
- 8.2. Augmented Reality in Automotive Market: Level of Autonomous Driving Movement Analysis, USD Million, 2023 & 2030
- 8.2.1. Non-Autonomous
- 8.2.1.1. Non-Autonomous Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 8.2.2. Autonomous
- 8.2.2.1. Autonomous Market Estimates and Forecasts 2018 to 2030 (USD Million)
Chapter 9. Augmented Reality in Automotive Market: Vehicle Type Estimates & Trend Analysis
- 9.1. Segment Dashboard
- 9.2. Augmented Reality in Automotive Market: Vehicle Type Movement Analysis, USD Million, 2023 & 2030
- 9.2.1. Passenger Cars
- 9.2.1.1. Passenger Cars Market Estimates and Forecasts 2018 To 2030 (USD Million)
- 9.2.2. Commercial Vehicles
- 9.2.2.1. Commercial Vehicles Estimates and Forecasts 2018 To 2030 (USD Million)
Chapter 10. Augmented Reality In Automotive Market: Regional Estimates & Trend Analysis
- 10.1. Augmented Reality in Automotive Market Share, By Region, 2023 & 2030 USD Million
- 10.2. North America
- 10.2.1. North America Augmented Reality in Automotive Market Estimates and Forecasts, 2018 to 2030 (USD Billion)
- 10.2.2. U.S.
- 10.2.2.1. U.S. Augmented Reality in Automotive Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 10.2.3. Canada
- 10.2.3.1. Canada Augmented Reality in Automotive Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 10.3. Europe
- 10.3.1. Europe Augmented Reality in Automotive Market Estimates and Forecasts, 2018 to 2030 (USD Billion)
- 10.3.2. Germany
- 10.3.2.1. Germany Augmented Reality in Automotive Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 10.3.3. UK
- 10.3.3.1. UK Augmented Reality in Automotive Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 10.3.4. France
- 10.3.4.1. France Augmented Reality in Automotive Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 10.3.5. Italy
- 10.3.5.1. Italy Augmented Reality in Automotive Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 10.3.6. Spain
- 10.3.6.1. Spain Augmented Reality in Automotive Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 10.4. Asia Pacific
- 10.4.1. Asia Pacific Augmented Reality in Automotive Market Estimates and Forecasts, 2018 to 2030 (USD Billion)
- 10.4.2. China
- 10.4.2.1. China Augmented Reality in Automotive Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 10.4.3. India
- 10.4.3.1. India Augmented Reality in Automotive Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 10.4.4. Japan
- 10.4.4.1. Japan Augmented Reality in Automotive Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 10.4.5. South Korea
- 10.4.5.1. South Korea Augmented Reality in Automotive Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 10.4.6. Australia
- 10.4.6.1. Australia Augmented Reality in Automotive Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 10.5. Latin America
- 10.5.1. Latin America Augmented Reality in Automotive Market Estimates and Forecasts, 2018 to 2030 (USD Billion)
- 10.5.2. Brazil
- 10.5.2.1. Brazil Augmented Reality in Automotive Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 10.6. Middle East and Africa
- 10.6.1. Middle East and Africa Augmented Reality in Automotive Market Estimates and Forecasts, 2018 to 2030 (USD Billion)
- 10.6.2. South Africa
- 10.6.2.1. South Africa Augmented Reality in Automotive Market Estimates and Forecasts 2018 to 2030 (USD Million)
- 10.6.3. UAE
- 10.6.3.1. UAE Augmented Reality in Automotive Market Estimates and Forecasts 2018 to 2030 (USD Million)
Chapter 11. Competitive Landscape
- 11.1. Recent Developments & Impact Analysis, by Key Market Participants
- 11.2. Company Categorization
- 11.3. Company Market Positioning
- 11.4. Company Heat Map Analysis
- 11.5. Strategy Mapping
- 11.5.1. Expansion
- 11.5.2. Mergers & Acquisition
- 11.5.3. Partnerships & Collaborations
- 11.5.4. New Product Launches
- 11.5.5. Research and Development
- 11.6. Company Profiles
- 11.6.1 Bosch Gmbh
- 11.6.1.1. Company Overview
- 11.6.1.2. Financial Performance
- 11.6.1.3. Product Benchmarking
- 11.6.1.4. Strategic Initiatives
- 11.6.2. Continental AG
- 11.6.2.1. Company Overview
- 11.6.2.2. Financial Performance
- 11.6.2.3. Product Benchmarking
- 11.6.2.4. Strategic Initiatives
- 11.6.3. Denso Corporation
- 11.6.3.1. Company Overview
- 11.6.3.2. Financial Performance
- 11.6.3.3. Product Benchmarking
- 11.6.3.4. Strategic Initiatives
- 11.6.4. Magic Leap
- 11.6.4.1. Company Overview
- 11.6.4.2. Financial Performance
- 11.6.4.3. Product Benchmarking
- 11.6.4.4. Strategic Initiatives
- 11.6.5. Mapbox
- 11.6.5.1. Company Overview
- 11.6.5.2. Financial Performance
- 11.6.5.3. Product Benchmarking
- 11.6.5.4. Strategic Initiatives
- 11.6.6. Novac Technology Solutions
- 11.6.6.1. Company Overview
- 11.6.6.2. Financial Performance
- 11.6.6.3. Product Benchmarking
- 11.6.6.4. Strategic Initiatives
- 11.6.7. Panasonic Connect
- 11.6.7.1. Company Overview
- 11.6.7.2. Financial Performance
- 11.6.7.3. Product Benchmarking
- 11.6.7.4. Strategic Initiatives
- 11.6.8. Visteon Corporation
- 11.6.8.1. Company Overview
- 11.6.8.2. Financial Performance
- 11.6.8.3. Product Benchmarking
- 11.6.8.4. Strategic Initiatives
- 11.6.9. Wayray AG
- 11.6.9.1. Company Overview
- 11.6.9.2. Financial Performance
- 11.6.9.3. Product Benchmarking
- 11.6.9.4. Strategic Initiatives
- 11.6.10. Texas Instruments Incorporated
- 11.6.10.1. Company Overview
- 11.6.10.2. Financial Performance
- 11.6.10.3. Product Benchmarking
- 11.6.10.4. Strategic Initiatives