Kenneth Research released a report on North America Automotive Augmented Reality and Virtual Reality Market consisting of detailed analysis of the market and industry insights over the forecast period of 2022-2031. The latest trends and business opportunities in the market are discussed in the report on the basis of analysis of the market value and calculation of the CAGR during the forecast period. The market is anticipated to grow at a significant CAGR over the forecast period.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for North America Automotive Augmented Reality and Virtual Reality Market Products.
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As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
North America automotive AR and VR market is expected to grow by 77.7% annually in the forecast period and reach $21.79 billion by 2026.
Highlighted with 29 tables and 36 figures, this 94-page report “North America Automotive Augmented Reality and Virtual Reality Market by Component, Technology, Application, Vehicle Type, Driving Autonomy, and Country 2020-2026: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire North America automotive AR and VR market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. In this report 2019 is the base year for market analysis, with historic study covering 2015-2019 and forecast covering 2020-2026. (Please Note: The report will be updated before delivery to make sure that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of North America market is forecast in optimistic, balanced, and conservative view. The balanced (most likely) projection is used to quantify North America automotive AR and VR market in every aspect of the classification from perspectives of Component, Technology, Application, Vehicle Type, Driving Autonomy, and Country.
Based on Component, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2015-2026 included in each section.
• Semiconductor Component
• Displays and Projectors
• Position Trackers
• Software Developer Kits
• Cloud Services
Based on Technology, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2015-2026 included in each section.
Augmented Reality (AR) by Technology
• Marker-based Augmented Reality (further segmented into Passive Marker and Active Marker)
• Markerless Augmented Reality (further segmented into Model based Tracking and Image based Processing)
Augmented Reality (AR) by Device
• Head-Mounted Display (HMD)
• Head-Up Display (HUD)
• Handheld Device
Virtual Reality (VR) by Technology
• Nonimmersive Technology
• Semi-Immersive and Fully Immersive Technology
Virtual Reality (VR) by Device
• Head-Mounted Display (HMD)
• Gesture-Tracking Device
• Projector & Display Wall
Based on Application, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2015-2026 included in each section.
• Manufacturing & Supply
• Research & Development
• Marketing & Sales
• Aftermarket Service
• Support Functions & Training
• Other Applications
Based on Vehicle Type, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2015-2026 included in each section.
• Passenger Vehicles
• Commercial Vehicles
Based on Driving Autonomy, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2015-2026 included in each section.
• Conventional Driving
• Autonomous & Semi-autonomous Driving
Geographically, the following national/local markets are fully investigated:
For each of the aforementioned countries, market analysis and revenue data are available for 2015-2026. The breakdown of major national markets by Technology, Application, and Vehicle Type over the years 2015-2026 are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Specifically, potential risks associated with investing in North America automotive AR and VR market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.
Key Players (this may not be a complete list and extra companies can be added upon request):
General Motors (GM)
Hyundai Motor Company
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of North America Automotive Augmented Reality and Virtual Reality Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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