About Automotive Augmented Reality and Virtual Reality
Augmented reality (AR) is a technology that adds on or layers digital media, such as touch feedback, graphics, 3D models, and sound, on a real world environment to enhance user experience and interaction. Virtual reality (VR) is a computer simulated reality that is achieved through replicating an environment into an interactive three-dimensional experience to a user. The global automotive AR and VR market covers automotive AR and VR technology used (in research stage) in heads-up display (HUD), design, and prototype of automotive and virtual automotive showrooms.
Technavio’s analysts forecast the global automotive augmented reality and virtual reality market to grow at a CAGR of 98.11% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive augmented reality and virtual reality market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Augmented Reality and Virtual Reality Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive augmented reality and virtual reality market: Continental, HARMAN International, Microsoft, Visteon, and Volkswagen.
Other Prominent Vendors in the market are: HTC, NVIDIA, Unity, AutoVRse, Bosch, DENSO, Delphi Automotive*, Jaguar, Mercedes-Benz, Nippon Seiki, Panasonic, General Motors (GM), Hyundai Motor Company, and Garmin.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is projection technology – production ready in AR. The AR technology in the automotive industry has gained market attention due to technological advances in HUD. The AR HUDs display a virtual image precisely into the exterior view, ensuring a comfortable and safe driving experience. AR HUDs generate a comprehensive view to the driver, which is a combination of the real scene viewed by end-users and an augmented, computer-generated, virtual scene with additional information.”
According to the report, one driver in the market is AR for automotive repairs. At present, vehicle manufacturing involves more complications due to the presence of many electric and electronic components. On an average, a modern-day car has more than 100 electronic parts, which has made driving convenient, safe, and comfortable for drivers. However, technicians should possess a high skill set, as repairing vehicles with complicated circuit design is difficult. The use of AR technology simplifies the repair works, as it gives complete instructions, from a repair process to suitable tools that need to be used.
Further, the report states that one challenge in the market is high cost and hardware limitations. All AR technologies used in the automotive industry need the support of mobile devices. These devices need to possess enhanced features to support the AR technology. Though there is availability of high-speed processor and other basic features like sensors and cameras, only the devices with enhanced features can use AR technology. High-end devices may seamlessly function while using AR apps, but low-end devices lack that capability. A depth sensing 3D camera is one feature that can enhance user experience, but is still not common in mobile devices.
Continental, HARMAN International, Microsoft, Visteon, and Volkswagen, HTC, NVIDIA, Unity, AutoVRse, Bosch, DENSO, Delphi Automotive*, Jaguar, Mercedes-Benz, Nippon Seiki, Panasonic, General Motors (GM), Hyundai Motor Company, and Garmin.