The report forecasts the global automotive augmented reality market to grow at a CAGR of 17.96% during the period 2016-2020.
Primary deficiencies of conventional HUDs:
Irrelevant information and on-screen space clutter
Inappropriate on-screen positioning or location
Lack of situational information overlays
Lack of interactivity
A trend which is having a big impact on the market is TFT to DMD evolution. Some of the notable highlights are:
Continental has been using the TFT system in their HUDs to date. However, with the advent of AR, Continental aims to sharpen its images and add more animated graphics content to its HUD display.
With this goal in mind, Continental has come up with its Innovative HUD, which features two display levels. There is a DMD instead of the existing mass-produced TFT technology. DMD is a movie projector industry-based product, which is integrated into the Continental's HUD system.
According to the report, one key driver among many in this market is the electrification of automotive mechanics. Currently automotive innovation is primarily driven by government regulations and to cater to the stringent government regulations, the automotive industry is relying more on electronics. Automotive is one of the major contributors of environmental pollution; hence, various governing bodies across the world have issued regulations to reduce vehicle emissions along with increasing fuel economy.
Further, the report states that one challenge that could adversely impact market growth is the high costs on unit sales of AR devices.