3D Displays and Augmented Reality Market: Introduction
- Technological advancements, in terms of vehicles, are anticipated to propel the global 3D displays and augmented reality market. Major automakers and OEMs are anticipated to increase investments in the R&D of electric driveline technology in order to increase efficiency of electric vehicles. For instance, in 2017, Germany-based automaker Volkswagen first launched an app for its luxury brand Audi, which enables consumers to experience the vehicle interior without actually being close to the automobile. In 2019, the same technology evolved further and consumers could experience AR-based test drive, without actually being close to the automobile.
Key Drivers of 3D Displays and Augmented Reality Market
- Globally, several government organizations are increasingly enacting stringent safety regulations for automobiles, which is compelling automakers to increase safety for their vehicles. For instance, heads-up Display (HUDs) augmented reality technology is transforming automobile windscreens into large computer screens, non-intrusively displaying travel information including navigation indications, vehicle speed, weather information, live traffic data, and even collision warnings directly in the driver’s line of vision.
- In the absence of AR-based features in the vehicle, in case a driver wants to view this information, he/she has to pay attention to his/her smartphone or in-vehicle display mounted in the vehicle cabin wherein the probability of vehicle collision increases due to the driver’s attention being shifted away from the road. However, AR-based features reduce the amount of time the driver spends away from the road, thereby reducing vehicle collision rates.
- Major players in the automotive industry including Continental AG, Robert Bosch GmbH, and ZF Friedrichshafen AG among others are focused on developing AR-based technology to increase safety of the vehicles.
- Increase in demand for in-vehicle entertainment systems is expected to offer lucrative opportunity for major players operating in the supply chain of the global 3D displays and augmented reality market. Automotive OES and automakers are investing in the development of new type of 3D displays, which offer more depth and a more natural viewing experience to passengers. The 3D displays coupled with AR-based technology can be used for multiple applications ranging from providing collision warnings to video entertainment. For instance, in 2020, Robert Bosch announced that it would be offering passive 3D technology to generate three-dimensional realistic effects, which would alert the driver. Additionally, in March 2020, Continental AG developed Lightfield Display, a 3D display for vehicle cockpit that eliminates the use of special glasses to view 3D effects. The natural 3D Lightfield Technology in these displays is estimated to enable vehicle occupants to experience three-dimensional movies without needing either cameras detecting head movement or 3D glasses.
North America and Europe cumulatively to account for prominent share of global 3D displays and augmented reality market
- In terms of region, the global 3D displays and augmented reality market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa
- North America and Europe have presence of economically stable countries. These regions are also home to technologically advanced research institutes catering to the development of electric vehicles. Additionally, major players have established their technological centers and manufacturing facilities in various countries including the U.S., Germany, the U.K., and France. Several new players emerging from these regions are focused on the development of in-vehicle entertainment systems for vehicles. All the factors mentioned above contributed to the major share held by these regions in the global 3D displays and augmented reality market.
Key Players Operating in 3D Displays and Augmented Reality Market
The global 3D displays and augmented reality market is concentrated owing to the presence of top manufacturers. A few key players operating in the global 3D displays and augmented reality market are:
- Continental AG
- Robert Bosch GmbH
- Volkswagen AG
- ZF Friedrichshafen AG
Global 3D Displays and Augmented Reality Market: Research Scope
Global 3D Displays and Augmented Reality Market, by Vehicle Type
- Passenger Vehicle
- Utility Vehicles
- Light Commercial Vehicle
- Medium & Heavy Commercial Vehicle
- Off Road Vehicle
- Buses & Coaches
Global 3D Displays and Augmented Reality Market, by Application
- Vehicle Safety Notifications & Warnings
- In-vehicle Entertainment
Global 3D Displays and Augmented Reality Market, by Region
- North America
- Nordic Countries
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.