Augmented reality – the technology of superimposing digital images on real-world objects – is projected to become all-pervasive in the coming years. Although this technology is still in its infancy, the software & hardware required to leverage its full potential are becoming available now. Besides, the rise of IoT devices and artificial intelligence are also pushing the adoption of augmented reality in automobile industry.
Industries are quickly finding ways to implement augmented reality to reap a multitude of benefits. The automobile industry is opening up new avenues for implementing AR in its design, manufacturing, maintenance, and training.
The augmented reality in automobile market is predicted to reach $6.79 billion in 2025, a growth trajectory of CAGR 17% during 2020 – 2025. Besides the improved technological advancements in connectivity, the growth can also partly be attributed to increased demand for automation and autonomous vehicles.
How Augmented Reality in Automobile Industry is Preparing us For the Future
Let’s look at how augmented reality will bring about a dramatic change in the automobile industry.
1. Changing Buyer Persona
AR is about to bring about a complete overhaul in the preferences of customers. If customers were to buy a car in the early days, they would simply walk into a dealer store and check out the cars available & If they weren’t satisfied with the vehicles on display, they would just have to settle with some other color or go for another model.
Original Source: 5 Ways Augmented Reality is Changing the Automobile Industry
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Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Augmented Reality Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/augmented-reality-market/download-sampleMarket DynamicsAugmented reality (AR) is among the most prominent technology trends right now.
The technology is growing exponentially with increasing application in industries like manufacturing, utilities, telecommunications, retail, healthcare, and logistics for various uses, including assembly, maintenance and repair, education and training, retail showcasing, and diagnostics.
Augmented reality (AR) is widely employed across industrial and non-industrial applications due to its ability to facilitate tasks, solve complex problems, provide access to resources, and enhance overall experience.
However, security and privacy issues concerning augmented reality and health issues due to excessive usage of augmented reality pose barriers to market growth.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
