According to a recent report published by
Allied Market Research, titled," Automotive
AR and VR Market by Type and Application: Global Opportunity Analysis
and Industry Forecast, 2018-2025,"the global automotive AR and VR market
was valued at USD 213.0 million in 2017, and is projected to reach USD
673,602.2 million by 2025, registering a CAGR of 175.7% from 2018 to 2025.
At present, North America dominates the
market, followed by Asia-Pacific, Europe, and LAMEA. U.S. dominated the global
automotive AR and VR market in 2017, whereas Mexico is expected to grow at a
significant rate in North America during the forecast period.
The advent of connectivity technological
advancements primarily drive the growth of the market. In addition, high need
of augmented and virtual reality in automotive and cost-effective benefits from
the AR and VR based solutions are responsible for the growth of this market.
However, the serious threats to the physical and emotional wellbeing of the end
users and high dependence on internet connectivity are anticipated to hamper
the growth of the AR and VR market. Furthermore, formation of mixed reality
(MR) from integration of AR and VR and development of HUD system to enhance
safety ensures emerging growth opportunities for this market.
Key Findings
of the Automotive AR and VR Market:
In 2017, based on type, the augmented reality
(AR) segment generated the highest revenue.
In 2017, based on application, the research
& development segment was the highest revenue contributor.
In 2017, based on region, North America contributed
the highest market revenue, followed by Asia-Pacific, Europe, and LAMEA.
Based on region, Asia-Pacific is anticipated
to exhibit the highest CAGR during the forecast period.
The key players analyzed in this report are
Continental, Microsoft, Visteon, Volkswagen, Unity, Bosch, DAQRI, HTC, Hyundai
Motor, and Wayray.
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Allied Market Research (AMR) is a full-service
market research and business consulting wing of Allied Analytics LLP based in
Portland, Oregon. Allied Market Research provides global enterprises as well as
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view to provide business insights and consulting to assist its clients to make
strategic business decisions and achieve sustainable growth in their respective
market domain.
We are in professional corporate relations
with various companies and this helps us in digging out market data that helps
us generate accurate research data tables and confirms utmost accuracy in our
market forecasting. Each and every data presented in the reports published by
us is extracted through primary interviews with top officials from leading
companies of domain concerned. Our secondary data procurement methodology includes
deep online and offline research and discussion with knowledgeable
professionals and analysts in the industry.
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