Global Automotive Augmented Reality and Virtual Reality Market 2021-2025

Global Automotive Augmented Reality and Virtual Reality Market 2021-2025

Technavio has been monitoring the automotive augmented reality and virtual reality market and it is poised to grow by $ 5.10 billion during 2021-2025, progressing at a CAGR of about 32% during the forecast period. Our report on automotive augmented reality and virtual reality market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the emergence of virtual reality showrooms and events, the electrification of automotive mechanics, and the use of augmented reality for automotive repairs. In addition, the emergence of virtual reality showrooms and events is anticipated to boost the growth of the market as well.

The automotive augmented reality and virtual reality market analysis includes the technology segment and geographic landscape.

Technavio's automotive augmented reality and virtual reality market is segmented as below:

By Technology

• AR
• VR

By Geography

• Europe
• APAC
• North America
• MEA
• South America

This study identifies the TFT to DMD evolution as one of the prime reasons driving the automotive augmented reality and virtual reality market growth during the next few years. Also, low-cost LIDAR sensor and projection technology-production ready in AR will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on automotive augmented reality and virtual reality market covers the following areas:

• Automotive augmented reality and virtual reality market sizing
• Automotive augmented reality and virtual reality market forecast
• Automotive augmented reality and virtual reality market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive augmented reality and virtual reality market vendors that include 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. Also, the automotive augmented reality and virtual reality market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.