AR and VR in Automotive Industry: Research & Development Segment to Value $162.39 Billion by 2025

Also, the use of AR and VR in designing & assembling phase is benefitting automotive companies significantly. For example, designing and visualizing the vehicle in AR and VR technology assists designers in visualizing the body structure of a vehicle to improve efficiency, safety, and durability. Allied Market Research recently published a report, titled, "Automotive AR and VR Market by Type (Augmented Reality (AR) and Virtual Reality (VR)) and Application (Research & Development, Manufacturing & Supply, Marketing & sales, Aftersales, Support Functions, and Product): Global Opportunity Analysis and Industry Forecast, 2018 - 2025". According to the report, the global automotive AR and VR market was valued at $213.0 million in 2017 and is expected to reach $673.60 billion by 2025, growing at a CAGR of 175.7% during the forecast period.