Automotive AR and VR Market Rising Demand for Digitization in Organizations and Growth till 2027 – Continental AG, DAQRI, HP Development Company, L. P, Hyundai Motor Group, Microsoft, Robert Bosch GmbH and Unity Technologies
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Augmented Reality (AR) & Virtual Reality (VR) combines reality with digital content. Automotive companies are relying on AR & VR to improve their manufacturing system, maintenance, individualizing the cockpit, effective advertising, and marketing to enhance customer satisfaction level. AR applications are special 3D programs that enable developers to integrate digital context with the real world. VR uses the head-mounted display (HMD) to take the end through an artificial world to provide synthetic experience and virtual feedback. Increase in need of cost-effective, efficient manufacturing programs with real-time data analysis is fueling the automotive AR & VR market.
Rise in need for AR & VR in automotive manufacturing, growth in technically advanced devices, the advent of connected car technology, rise in gamification in the automotive industry for drivers’ safety, development of new products digitally, are driving the automotive AR & VR market. However, high dependence on internet connectivity to avail these technologies is hindering the market growth, especially in emerging nations. On the other hand, the formation of mixed reality (MR) by integrating AR & VR, increasing adoption of electric vehicles, and development of HUD system in for enhancing safety are providing ample opportunities to the automotive AR & VR market.
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Top Leading Market Players:
1. Continental AG
2. DAQRI
3. HP Development Company, L. P
4. Hyundai Motor Group
5. Microsoft Corporation
6. Robert Bosch GmbH
7. Unity Technologies
8. Visteon Corporation
9. Volkswagen AG
10. WayRay AG
The global automotive AR & VR market is segmented on the basis of type and device type. Based on type, the market is segmented as augmented reality (AR) and virtual reality (VR). On the basis of the device type the market is segmented into HMD, HUD, Handheld Device, and Gesture Tracking.
The report assists in determining and analyzing the Key market players’ portfolios with information such as company profiles, components and services offered, financial information of last 3 years, key developments in past five years and helps in constructing strategies to gain competitive advantage. The market payers from Automotive AR and VR Market are anticipated to lucrative growth opportunities in the future with the rising demand for Automotive AR and VR in the global market. Below mentioned is the list of few companies engaged in the Automotive AR and VR market.
The Automotive AR and VR Market report is a combination of qualitative as well as quantitative analysis which can be broken down into 40% and 60% respectively. Market estimation and forecasts are presented in the report for the overall global market from 2018 – 2027, considering 2018 as the base year and 2018 – 2027 forecast period. Global estimation is further broken down by segments and geographies such as North America, Europe, Asia-Pacific, Middle East & Africa and South America covering major 18 countries across the mentioned regions. The qualitative contents for geographical analysis will cover market trends in each region and country which includes highlights of the key players operating in the respective region/country, PEST analysis of each region which includes political, economic, social and technological factors influencing the growth of the market.
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What our report offers:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Global Automotive AR and VR Market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Automotive AR and VR, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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