New York, April 12, 2023 (GLOBE NEWSWIRE) -- The global augmented reality windshield market is estimated to be valued at USD 910 million by 2032 from USD 315 million in 2022 and is expected to exhibit a CAGR of 11.5% during the forecast period 2023 to 2032. The market for augmented reality (AR) windshields is comparatively new but expected to expand rapidly in the upcoming years. AR windshields are a type of "smart glass" that integrates digital information and displays it on the windshield, giving drivers real-time awareness about their environment, navigation, and other useful data.
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Key Takeaway:
- By position type, in 2022, the Augmented Reality Windshield market was dominated by the front segment due to convenience in use.
- By vehicle type analysis, the passenger car segment is dominating the market. Because of the number of tour companies trying to provide more convenient services to their customers.
- The North American region is dominant in the market in the year 2022 with 38% of the market share.
- In the APAC region, the demand for electric vehicles is rising, and increasing demand for their safety features this factor is driving the market for AR windshields in the region.
Factors affecting the growth of the Augmented Reality Windshield Market
Several factors affect the growth of the augmented reality windshield market. Some of these are as follows:
- Increasing demand for connected and smart vehicles: As customers look for more convenient and immersive driving experiences, the demand for augmented reality windshields is anticipated to rise. AR windshields could become a common feature in many new cars as the adoption of connected and smart vehicles rises.
- Advancements in AR technology: The market for AR windshields is anticipated to increase as a result of advances in AR technology. As AR technology becomes more sophisticated and affordable, it will become simpler for automakers and tech firms to incorporate AR windshields into their vehicles.
- Growing focus on road safety: The market for AR windshields is anticipated to increase as public attention to road safety increases. AR windshields can give drivers information about their environments in real-time, minimizing the need for them to look away from the road and enhancing driving safety.
- Increasing government regulations: Governments all over the world are progressively putting laws into place that are intended to increase road safety. As automakers work to comply with these rules and offer customers safer vehicles, this is anticipated to increase demand for AR windshields.
- High cost of AR windshield technology: Adoption of AR windshield technology is presently significantly hindered by its higher cost. However, the price is expected to drop in the coming years as the technology develops and becomes more widely accessible, making AR windshields more affordable for consumers.
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Market Growth
In the upcoming years, the market for augmented reality (AR) windshields is expected to grow significantly. One of the main reasons propelling the market's expansion is the rising demand for connected and smart vehicles. AR windshields are a popular feature in new cars as customers look for more convenient and immersive driving experiences. The incorporation of AR windshields into cars is also becoming simpler for automakers and tech firms thanks to advancements in AR technology.
AR windshields improve safety while enhancing the driving experience by giving drivers access to real-time information about their surroundings, navigation, and other helpful data. The growing focus on road safety is also expected to drive the demand for AR windshields as automakers seek to comply with government regulations aimed at improving road safety. While the high cost of AR windshield technology is currently a barrier to the adoption of this technology, the cost is expected to decrease with advancement in technology, making AR windshields more accessible to consumers.
Regional Analysis
North America leads the other regions, holding a 38% market share. Demand in this area is being driven by advanced driver assistance systems (ADAS) and an increasing fascination with autonomous vehicles, which has led to the integration of more sophisticated sensors and cameras into AR Windshield systems so drivers can get accurate information more rapidly. A variety of new innovations are being made in the augmented reality windscreen market, and distinct patterns are emerging in each.
Europe has prioritized preserving the environment and cutting carbon pollution. In order to achieve this, fuel-efficient AR windscreen systems have been developed, which can reduce fuel use and increase car efficiency. Furthermore, the market in APAC is being driven by user-friendly interfaces and cutting-edge sensor technologies to improve driving efficiency and safety due to rising electric car adoption and demand for advanced safety features. Demand for AR windscreen systems is being driven by Middle Eastern investors in the building and industrial sectors as well as in commercial trucks and public transit vehicles, which is encouraging investments in infrastructure projects.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 315 million |
| Market Size (2032) | USD 910 Million |
| CAGR (from 2023 to 2032) | 11.5% |
| North America Revenue Share | 38.0% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Demand for augmented reality windshields is anticipated to soar as connected vehicles become more prevalent due to cutting-edge technologies like 5G connectivity, artificial intelligence, and the Internet of Things. (IoT). These intuitive interfaces allow drivers to interact with their cars in new ways, offering them a better driving experience. Augmented reality windshields are viewed as a potential solution as the issue of driver safety becomes more urgent, especially in light of increasing accident rates and the adoption of autonomous driving technologies. Driving decisions can be aided by real-time data on the environment, traffic, and possible hazards on the road.
Market Restraints
Given how difficult it is to manufacture these windshields right now, their high cost might discourage widespread use. Cost is a significant consideration, especially for lower-end vehicle classifications like economy cars. While augmented reality windshields can offer real-time information to drivers, there is a chance that having too much information will cause drivers to become preoccupied and endanger traffic safety. This is especially troublesome when using inferior interfaces or displays.
Market Opportunities
The automotive sector presents one of the greatest opportunities for the AR Windshield market, as this technology can be applied to improve driver safety and boost vehicle performance. By giving drivers more precise and timely data about road conditions, traffic patterns, and weather patterns, AR technology may even enhance driving assistance systems like lane departure warnings or adaptive cruise control. Furthermore, there are potential applications outside the automotive sector such as military operations and aviation fields.
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Report Segmentation of the Augmented Reality Windshield Market
Position Type Insight
The market for augmented reality windshields is divided into front and rear positions based on location type. With a 74% market share among these kinds, the front segment dominates. A front-mounted augmented reality windshield that displays information like speed, navigation, and traffic dangers is typically in the driver's line of sight. It allows the driver to stay aware of the condition of the road without taking their eyes off the road. The rear position variety of an AR windshield is installed in the rear of the vehicle and displays information such as the feed from the rearview camera, the distance between the vehicle and other objects, and parking assistance.
Vehicle Type Insight
The market for augmented reality in windshields is divided into PC (Passenger Car), LCV (Light Commercial Vehicle), and HCV on the premise of vehicle types. (Heavy Commercial Vehicle). PCs are the primary vehicle variety with augmented reality in their windshields. Augmented reality assists passenger vehicles in displaying information like navigation instructions, traffic alerts, and hazard warnings. It also offers a virtual overlay of the road ahead to help with lane guidance. For navigation and obstacle avoidance in LCV, the windshield can show data such as the vehicle's speed and position in addition to providing a virtual overlay of the road ahead.
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Market Segmentation
Based on Position Type
- Front
- Rear
Based on Vehicle Type
- PC
- LCV
- HCV
By Geography
- North America
-
- The US
- Canada
- Mexico
- Western Europe
-
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
-
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
-
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
-
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
The market for Augmented reality (AR) windshields is still developing and has several major players competing to establish dominance. It is predicted that key players will continue investing in this rapidly expanding sector while heavily investing in research and development of AR Windshield technology. As this market matures, we can expect further competition between established players as well as recent entrants, leading to further innovation from both sides.
Recent Development of the Augmented Reality Windshield Market
- In February 2021: Two companies Continental and DigiLens make a partnership. DigiLens is a leader in holographic waveguide display technology. They make partnerships for developing augmented reality windshield solutions that provide drivers with a more immersive and instinctive demonstration of real-time information.
- In October 2021: Jaguar Land Rover launches clear sight augmented windshield reality. This system makes use of sensors and cameras which gives information about the road in front of them, and improve visibility in poor weather and weakly illuminate areas.
Some of the major players include:
- AGC Inc
- Compagnie de Saint-Gobain
- Magna International
- Xinyi Glass Holdings Limited
- Fuyao Glass Industry Group Co Ltd
- Shenzhen Benson Automobile Glass Co Ltd
- Dura Automotive Systems Inc
- Niantic
- Scanta
- Other Key Players
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