About This Report

Automotive Augmented Reality (AR) is a technology that enhances the driving experience and gives drivers useful information by placing digital data on the actual world. It projects virtual elements onto the windshield or another transparent surface using tools like head-up displays or smart glasses. These digital enhancements may include real-time information about the environment, safety alarms, and navigational guidance. Driving safety is improved by the use of AR technology, which enables users to obtain critical information without taking their eyes off the road. Additionally, it enables automakers to highlight interactive elements during car demonstrations, increasing customer interest and comprehension of the possibilities of the vehicle
In 2022, the Automotive Augmented Reality (AR) market was valued at US$ XX million, which is anticipated to be around US$ XX million by 2030. Over the forecast period, the market is expected to grow at a CAGR of XX%.

Enhanced driving experience and increased safety improvements are the drivers while limited infrastructure is a restraint

In vehicle applications, augmented reality (AR) can give drivers immediate details overlaid on the dashboard or windshield, improving navigation, road conditions, and points of interest. As a result, driving becomes more enjoyable overall because less time is spent looking away from the road to get directions or important information. For instance, as per the research in the International Journal of Human-Computer Interaction, AR-based navigation systems can dramatically lessen the cognitive and workload demands placed on drivers, enhancing decision-making and driving performance. AR helps drivers stay laser-focused and informed by superimposing navigational information onto their field of vision, improving their overall driving experience and safety.

AR systems may project important data like speed, navigational hints, and cautions right in front of the driver. This reduces distractions and sharpens the driver's attention to the road, which promotes safer driving habits. For instance, as per the National Highway Traffic Safety Administration (NHTSA) study, performing visual-manual tasks while driving, such as consulting navigation systems, increases the risk of accidents. By placing pertinent information right in the driver's line of sight, AR systems like HUDs help to reduce this risk by eliminating the need for the driver to take their eyes off the road.
However, costly hardware, software, and integration efforts are required for developing and integrating augmented reality (AR) technology into automobiles. Particularly for smaller automakers or price-conscious customers, these charges may be a turnoff. The accuracy and quality of the road mapping data can have an impact on how effective AR systems are. AR navigation systems may have trouble providing accurate and trustworthy information in places with scant or out-of-date mapping data. For instance, some augmented reality (AR) systems use accurate GPS data and extensive mapping data to overlay navigational signals. These systems might not operate at their best in areas with insufficient mapping coverage, which would restrict how useful they could be.

Battery electric vehicles (BEVs) is expected to account for a significant market share by the electric vehicle segment

The global Automotive Augmented Reality (AR) market is mainly classified based on autonomous driving level, sensor technology, electric vehicle, and function. On the basis of autonomous driving level, the market is segmented into semi-autonomous driving and conventional driving. Based on the sensor technology, the market is classified into sensor fusion, radar, CCD/VMOS image source, and LIDAR. By electric vehicle, the market is categorized into battery electric vehicles and hybrid vehicles. By function, the market is divided into AR HUD with standard functions, AR HUD with navigation, AR HUD with lane departure warning, AR HUD advanced, and AR HUD with adaptive cruise control.
By electric vehicle, Battery electric vehicles (BEVs) were anticipated to hold the largest market share in the electric vehicle segment of the worldwide Automotive Augmented Reality (AR) industry. BEVs are entirely electric cars that only need battery power to move forward. Due to their zero-emission status, BEVs are frequently chosen because they support international efforts to lower greenhouse gas emissions and battle climate change. The use of BEVs is probably going to rise as governments and consumers place more importance on environmental sustainability. In an effort to lower greenhouse gas emissions, numerous governments all over the world have created incentives to promote the use of electric cars, notably BEVs. Norway is one notable example, which has promoted electric mobility in a comprehensive manner. Many incentives are available in Norway, including tax breaks, reduced tolls, free parking, and access to bus lanes for BEVs. The high adoption rate of BEVs in Norway is largely a result of these incentives.
Technology breakthroughs are causing the automobile industry to change drastically, and BEVs are the technological apex of innovation. The integration of AR technology in BEVs contributes to the overall futuristic and technologically cutting-edge perception of electric vehicles. BEVs are renowned for their quiet and comfortable driving. By offering real-time information in an engaging and interactive manner and establishing a distinctive offering for customers, the incorporation of AR technology can further improve the driving experience. BEVs are frequently targeted by automakers at environmentally aware and tech-savvy consumers. The integration of AR technology is expected to be valued by these same customers, which may increase demand for BEVs with AR capabilities.
The transition to electric vehicles and investments in advanced technologies have been announced by several significant automakers. They might decide to incorporate AR technology into BEVs as part of these tactics in order to get a competitive edge in the market. For instance, Porsche, a well-known luxury automaker, has embraced AR technology as part of its plan to improve the BEV driving experience. The Porsche Taycan is an all-electric sports sedan that the manufacturer has developed a unique augmented reality navigation system for named "Porsche AR Visualizer." Through the glass of their car, Taycan drivers can get navigational instructions directly on the road thanks to this innovation. The navigation experience is improved by the AR display, which superimposes lane advice, places of interest, and directional arrows over the real-world perspective.

Interesting Facts of Automotive Augmented Reality (AR) Market.

• On the basis of autonomous driving level, semi-autonomous driving is expected to hold a bigger market share in the global Automotive Augmented Reality (AR) market. This is due to the fact that advanced driver assistance systems (ADAS) in semi-autonomous vehicles can greatly profit from AR technology.
• Based on the sensor technology, The sensor fusion segment is predicted to account for a sizable portion of the worldwide Automotive Augmented Reality (AR) market. Data from various sensors, such as cameras, radar, LIDAR, and other sources, is combined in a process known as sensor fusion.
• By electric vehicle, Battery electric vehicles (BEVs) were anticipated to hold the largest market share in the electric vehicle segment of the worldwide Automotive Augmented Reality (AR) industry. BEVs are entirely electric cars that only need battery power to move forward.
• Automotive Augmented Reality (AR) has a sizable market in Europe, with a focus on cutting-edge technologies and high consumer demand. The presence of the automobile sector in nations like Germany and the UK has aided in the creation and use of augmented reality (AR) solutions in fields like maintenance, training, and virtual showrooms.
• Asia Pacific is a market for Automotive Augmented Reality (AR) that is expanding quickly due to a strong automotive manufacturing base and rising investments in innovative technologies. Leading the way in the adoption of AR solutions for automotive applications, such as manufacturing, servicing, and customer experience, are nations like China, Japan, and South Korea.

North America will account for the largest share of the Automotive Augmented Reality (AR) industry.

 North America is expected to hold the major market share globally due to technological advancements, innovations, and increasing consumer demand for advanced features. The United States in particular is a center for technical innovation and development on a worldwide scale. Many IT behemoths, academic institutions, and automakers are based in the area, and they are actively investigating and investing in cutting-edge technologies like Augmented Reality (AR). These businesses work together to create cutting-edge augmented reality (AR) technologies that improve convenience, safety, and the driving experience. For instance, Ford is investigating the possibility of integrating Microsoft's HoloLens technology into its vehicles in North America. A holographic overlay of information on the real environment might be shown to drivers using the augmented reality (AR) headset HoloLens. This collaboration is an example of how North American tech companies are working with automakers to develop cutting-edge augmented reality (AR) apps for vehicles.

Consumers in North America are renowned for embracing cutting-edge technologies quickly. The introduction of AR technologies in vehicles is being driven by the demand for connected and immersive driving experiences. In order to meet this need, automakers are adopting augmented reality (AR)-based technologies that provide real-time information, navigational cues, and safety alerts right in the driver's line of sight. For example, The Super Cruise advanced driver assistance system from General Motors uses augmented reality (AR) technology to provide drivers with a thorough view of the road ahead. It has a head-up display that gives the driver important information and instructions, improving both driving pleasure and safety.
Road safety laws and standards are highly prioritized in North America. To prevent accidents and improve overall driver safety, governments, and regulatory organizations are promoting the adoption of cutting-edge safety technologies, including as augmented reality (AR) solutions. For augmented reality head-up displays, guidelines have been published by the NHTSA in the US. These guidelines lay out the suggested procedures for developing and putting into practice augmented reality head-up displays (HUDs) that offer crucial information while reducing driver distraction.

 Global Automotive Augmented Reality (AR) Market Key Players:

Some of the major competitors in the global Automotive Augmented Reality (AR) market include Harman International Industries, Inc., Continental AG, Visteon Corporation, Panasonic Corporation, Denso Corporation, PTC Inc, Garmin Ltd., Bosch Rexroth AG, Honeywell International Inc., Upskill, and Ubimax GmbH.
Automotive Augmented Reality (AR) is extremely competitive with aggressive market strategies of global and regional companies looking to strengthen their market position through new product launches and facility expansions. The following are some recent market developments:

• Harman announced the opening of its "Automotive Audio Tech Center of Competence" in China in July 2021 to improve its audio and infotainment solutions for the automobile industry.
• Continental introduced its "3D Augmented Reality HUD" concept in January 2022 in order to create a seamless and engaging driving experience. This technology overlays crucial information right on the windshield.
• The "SmartCore" cockpit domain controller technology from Visteon was released in February 2021. It merges connectivity, infotainment, and instrument cluster features to improve user experiences.
• Panasonic and Octo Telematics will work together to create a "Smart City Solution" for connected automobiles in October 2020 to improve vehicle efficiency and safety. This solution will make use of AR and IoT technologies.
• PTC and Ford will work together to create a virtual reality (VR) solution using PTC's Vuforia platform in September 2020 with the goal of enhancing the design and manufacture of automobiles.
• The "RV 890" GPS navigator from Garmin was released in June 2021 with an augmented reality function that overlays navigation instructions on the live view from the car's camera.

Frequently asked questions about the global Automotive Augmented Reality (AR) market

Q: What is the current size of the global Automotive Augmented Reality (AR) market?
Ans: The Automotive Augmented Reality (AR) market was valued at XX million US$ in 2022 and is projected to reach XX million US$ by 2030, at a CAGR of XX% during the forecast period.

Q: What are the major opportunities in the Automotive Augmented Reality (AR) industry?
Ans: The creation of AR-based training programs for automotive professionals, the use of AR in in-car infotainment systems, and the integration of AR in vehicle maintenance and repair are some of the major potentials in the automotive augmented reality (AR) sector.

Q: What is the major growth driving factor for the Automotive Augmented Reality (AR) industry?
Ans: The need for improved in-vehicle user experiences, linked vehicles, and the rising need for advanced driver-assistance systems (ADAS) are the main growth drivers for the automotive augmented reality (AR) sector.

Q: Which region is expected to have the largest share of the Automotive Augmented Reality (AR) market?
Ans: South America region is expected to have the largest share of the Automotive Augmented Reality (AR) market

Q: Which electric vehicle segment will dominate the Automotive Augmented Reality (AR) market?
Ans: By electric vehicle, Battery electric vehicles (BEVs) were anticipated to hold the largest market share in the electric vehicle segment of the worldwide Automotive Augmented Reality (AR) industry. BEVs are entirely electric cars that only need battery power to move forward.