NEW YORK, July 11, 2022 /PRNewswire/ — The latest market report titled Automotive Augmented Reality and Virtual Reality Market by Technology and Geography – Forecast and Analysis 2021-2025 has been added to Technavio’s catalog. The analysts at Technavio have categorized the global automotive augmented reality and virtual reality market as a part of the global application software market within the global IT software market. The report claims the market to register an accelerating growth momentum at a CAGR of 32% with a potential growth difference of USD 5.10 billion from 2020 to 2025. The market growth will be driven by the emergence of virtual reality showrooms and events in the forthcoming years. However, the market might witness challenges such as the slowdown in the automotive industry.
Automotive Augmented Reality and Virtual Reality Market 2021-2025: Segmentation
- Technology
- AR: The AR technology segment held the largest market share in 2020. The segment is likely to contribute significant growth during the forecast period. The growth of this segment can be attributed 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.
- VR
- Geography
- Europe: 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.
- APAC
- North America
- MEA
- South America
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Contribution Highlights
Automotive Augmented Reality and Virtual Reality Market Vendor Landscape
- The market is concentrated, and the degree of concentration will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market.
- Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. The vendors are deploying various organic and inorganic growth strategies to compete in the market.
- 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.
- The competitive scenario provided in the report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.
Top Companies Covered in this Report are:
- Continental AG: The company offers Augmented-Reality HUD.
- DENSO Corp.: The company offers an augmented reality platform to illustrate its vision for smart cities, Harmonious Communications Cockpit, and other products.
- Garmin Ltd.: The company offers Hybrid Cloud Map Architecture, Weather Along Route Navigation, and other products.
- Hyundai Motor Co.: The company offers the Hyundai Virtual Guide app. It is loaded with features such as Bluetooth phone pairing, a clock, and other features.
- JAGUAR LAND ROVER AUTOMOTIVE PLC: The company offers an immersive 3D experience.
- Microsoft Corp.
- Nippon Seiki Co. Ltd.
- NVIDIA Corp.
- Robert Bosch GmbH
- Volkswagen AG
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Automotive Augmented Reality and Virtual Reality Market Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive augmented reality and virtual reality market report covers the following areas:
Automotive Augmented Reality and Virtual Reality Market Takeaways
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist automotive augmented reality and virtual reality market growth during the next five years
- Estimation of the automotive augmented reality and virtual reality market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive augmented reality and virtual reality market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive augmented reality and virtual reality market, vendors
Related Reports:
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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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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 future consumer dynamics, market condition analysis for the 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. |
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Technology
- Market segments
- Comparison by Technology
- AR – Market size and forecast 2020-2025
- VR – Market size and forecast 2020-2025
- Market opportunity by Technology
Customer Landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe – Market size and forecast 2020-2025
- APAC – Market size and forecast 2020-2025
- North America – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- 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
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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