Global Automotive Augmented Reality Market 2016-2020

Overview of the global automotive augmented reality market

Market research analysts at Technavio have predicted that in terms of the number of units produced, the global automotive augmented reality market will grow steadily at a CAGR of almost 18% by 2020. This market research analysis identifies the increased use of HUDs (heads up display) in low and medium range cars in APAC as one of the primary drivers for the growth of this market. As it is the most affordable automobile segment, there is a constant demand for low and medium-range cars from the APAC and BRIC countries. Due to the need to avoid distractions that have drivers look away from the roads and the rapid rise in awareness about the safety of drivers and pedestrians, there has been an increase in the use of car HUD displays in low and medium range cars.

Competition in the mid-segment vehicles has forced OEMs (original equipment manufacturer) to introduce high-end infotainment systems in mass mid-segment vehicles like hatchbacks and LCVs. Owing to advances in technology, there has been an increase in the demand for personalized entertainment in the recent years. This has, in turn, led to the rise in OEMs and electronic supplier investments to explore cost-effective means to integrate infotainment systems into small and mod-segment vehicles. This rising consumer adoption of infotainment systems to drive the adoption of augmented reality systems will be one of the major trends spurring growth in this market.

Segmentation by vehicle type and analysis of the automotive augmented reality market

• Luxury passenger cars
• Mid-level passenger cars
• Entry-level passenger cars
• Light commercial vehicles

Primarily composed of OEMs and the aftermarket, the entry-level passenger cars segment posted an augmented reality system penetration of more than 2 million vehicles during 2015 and is expected to dominate the market in the next four years. Factors such as steady growth throughout the forecast period and no noticeable self-cannibalism exhibited by the different sub-segments will account for the growth of this market segment.

Geographical segmentation and analysis of the automotive augmented reality market

• APAC
• Europe
• Latin America
• MEA
• North America

According to this market study report, Europe will account for about 33% of the total market share by 2020 and will dominate the global automotive augmented reality market throughout the forecast period. Continuous foreign and private investments in R&D in this region will contribute to the growth of the market in the next four years.

Competitive landscape and key vendors

Due to the presence of a number of internationally established vendors, this market appears to be highly fragmented. Since all major vendors have a considerable product portfolio and are aimed at gaining a better share of the market, the level of vendor competition is envisaged to be very high. The increasing demand for different vehicle types is expected to intensify the competition among suppliers in the coming years.

The leading vendors in the market are -

• Hyundai Motor
• BMW AG
• Continental AG
• Garmin
• Pioneer Electronics

The other prominent vendors in the market are Audi and Honda, Bosch, Delphi Automotive, Denso, General Motors, Harman, Jaguar, Mercedes-Benz, Nippon Seiki, Panasonic, and Volkswagen.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the automotive augmented reality market?
• What are the key market trends impacting the growth of the automotive augmented reality market?
• What are the challenges to market growth?
• Who are the key vendors in the automotive augmented reality market?
• What are the market opportunities and threats faced by the vendors in the automotive augmented reality market?
• Trending factors influencing the market shares of APAC, Europe, Latin America, MEA, and North America.
• What are the key outcomes of the five forces analysis of the automotive augmented reality market?

Technavio also offers customization on reports based on specific client requirement.

Related reports

• Global Mobile Augmented Reality Market 2016-2020
• Global Heads-Up Display Market 2016-2020
• Global Automotive Steer-By-Wire System Market 2016-2020

Augmented reality (AR) is a technology that offers a real-time view of the physical world where elements are augmented by computer-generated input like sound, video, or graphics. In the automobile sector, the AR system is the next stage of evolution of automotive heads-up display (HUD) and other guidance-cum navigation systems on the path to developing fully autonomous vehicle technology. In modern vehicles, the AR system is an advanced version of the existing HUD system that has one primary purpose, which is to prevent drivers from looking away from the road. The development of advanced equipment like augmented reality dashboards, windscreens, and bonnets will be one of the key trends influencing the market. Continental, Hyundai, and Garmin are some of the prominent players in the automotive AR market space.

The report, global automotive AR market, is part of Technavio’s automotive research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as auto accessories, automotive components, automotive electronics, automotive manufacturing, automotive services, powertrain, and wheels and tires. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.