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Automotive AR and VR Market is Expected to Reach $ 673,602.2 Million by 2025

 
 

quote In 2017, by type, the augmented reality segment dominated the global automotive AR and VR market, in terms of revenue. In addition, based on application, the R&D segment is expected to continue its lead throughout the forecast period. At present, North America is the highest revenue contributor and is expected to maintain its lead throughout the forecast period, followed by Asia-Pacific, Europe, and LAMEA. quote

Pranav Padalkar & Rohit Sawant
Lead Analysts, Automotive and Transportation at Allied Market Research

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According to a recent report published by Allied Market Research, titled,"Automotive AR and VR Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global automotive AR and VR market was valued at $213.0 million in 2017, and is projected to reach $673,602.2 million by 2025, registering a CAGR of 175.7% from 2018 to 2025.

At present, North America dominates the market, followed by Asia-Pacific, Europe, and LAMEA. U.S. dominated the global automotive AR and VR market in 2017, whereas Mexico is expected to grow at a significant rate in North America during the forecast period.

The advent of connectivity technological advancements primarily drive the growth of the market. In addition, high need of augmented and virtual reality in automotive and cost-effective benefits from the AR and VR based solutions are responsible for the growth of this market. However, the serious threats to the physical and emotional wellbeing of the end users and high dependence on internet connectivity are anticipated to hamper the growth of the AR and VR market. Furthermore, formation of mixed reality (MR) from integration of AR and VR and development of HUD system to enhance safety ensures emerging growth opportunities for this market.

Key Findings of the Automotive AR and VR Market:

  • In 2017, based on type, the augmented reality (AR) segment generated the highest revenue.
  • In 2017, based on application, the research & development segment was the highest revenue contributor.
  • In 2017, based on region, North America contributed the highest market revenue, followed by Asia-Pacific, Europe, and LAMEA.
  • Based on region, Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.

The key players analyzed in this report are Continental, Microsoft, Visteon, Volkswagen, Unity, Bosch, DAQRI, HTC, Hyundai Motor, and Wayray.

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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quote Automotive AR and VR Market by Type (Augmented Reality (AR) and Virtual Reality (VR)) and Application (Research & Development, Manufacturing & Supply, Marketing & sales, Aftersales, Support Functions, and Product): Global Opportunity Analysis and Industry Forecast, 2018 - 2025 quote

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