Automotive AR & VR Market to Grow at Impressive CAGR during 2019-2024

According to TechSci Research report, ****** Automotive AR & VR Market By Type, By Application, By Region, Competition, Forecast & Opportunities, 2024, ****** automotive AR & VR market is expected to grow at a significant rate during forecast period on the back of increasing implementation of augmented reality and virtual reality in automotive vertical. Head up display or HUD is one such technology which displays crucial information such as speed of the car and navigation directions on the windshield, without distraction. Technological advancements and cost effective benefits of AR and VR are driving their demand in automotive sector. North America is the leading region in ****** automotive AR & VR market and is expected to register impressive growth during the forecast period owing to the early adoption of the technology and presence of major companies in the region.

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****** automotive AR & VR market can be segmented based on type, application and region. In terms of type, the market can be bifurcated into augmented reality and virtual reality. In 2018, augmented reality dominated the market and the trend is likely to continue during forecast period as well owing to extensive adoption of AR in automotive for several purposes. However, virtual reality segment is anticipated to witness brisk growth in the forecast due to investments by leading players in the technology, affordability of VR devices and advancements in the technology.

Robert Bosch GmbH, Microsoft Corp., Continental AG, Hyundai Motor Group, Volkswagen AG, Unity Technologies ApS, Visteon Corp., HTC Corp., WayRay AG, etc., are among the leading players operating in ****** automotive AR & VR market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. In 2017, Continental AG launched augmented reality-based head up display system for helping drivers by providing essential information on windshield.

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“On the basis of application, the market can be segmented into research & development, manufacturing & supply, marketing & sales, aftersales, support function or training and product. Research & development segment is expected to register positive growth in the market due to various development taking place so as to enhance the driving experience of the driver without distraction.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based ****** management consulting firm.

****** Automotive AR & VR Market By Type, By Application, By Region, Competition, Forecast & Opportunities, 2024 has evaluated the future growth potential of ****** automotive AR & VR market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in ****** automotive AR & VR market.

About TechSci Research

TechSci Research is a leading ****** market research firm publishing premium market research reports. Serving 700 ****** clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking ****** and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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