The Virtual Visor Market Size was valued at USD 0.214 billion in 2023 and is estimated to reach USD 1.25 billion by 2031 and grow at a CAGR of 24.79% over the forecast period 2024-2031.
The virtual visor market is growing quickly, due to a few reasons. Firstly, people are looking for better ways to block sun glare in their cars. Second, there's a bigger focus on driver safety these days. Third, augmented reality (AR) technology is getting better, which creates new possibilities for visors. Finally, the rise of self-driving cars and electric vehicles, which often come with advanced safety features, is helping to boost the market for virtual visors. Drivers are looking for ways to combat sun glare and get important information directly on their visors, making virtual visors a safety game-changer. Augmented reality is also adding to the excitement, with features like displaying navigation or highlighting road hazards. The rise of smart and connected cars creates a perfect fit for virtual visors, allowing for a truly personalized driving experience. However, there are some bumps in the road. Since this is a new technology, there can be glitches and limitations.
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KEY DRIVERS:
Virtual sensors help save money by spotting equipment problems early, preventing breakdowns and costly repairs.
Virtual sensors are becoming a game-changer for maintenance. By analyzing data from existing sensors, they can predict equipment failures before they happen. This allows factories to fix problems early, preventing costly downtime and repairs.
Oil, gas, and utility companies depend heavily on constantly monitoring their processes.
RESTRAIN:
Virtual visors are a new technology, so they can be small and struggle with things like recognizing faces or showing AR clearly.
The virtual visors offer exciting possibilities, they're still a young technology. This means they can be like a new gadget with bugs to iron out. For example, they might struggle with recognizing faces clearly or displaying augmented reality information perfectly.
The tech behind virtual visors can be expensive, making them pricier than some people are willing to pay, especially in markets where affordability is a major concern .
OPPORTUNITY:
Virtual visors can work together with existing car safety features like blind-spot monitoring to show drivers important information directly on the visor.
Virtual visors can connect seamlessly with existing safety features like blind-spot monitoring or lane departure warnings. This would put this vital information right in the driver's line of sight, helping them stay aware of their surroundings and react faster to potential hazards. By making it easier for drivers to see critical safety alerts, virtual visors could significantly improve road safety.
The tech behind virtual visors might not just be for cars - it could also be useful in aviation or construction for clear, customized information displays.
CHALLENGES:
Visors typically allow air circulation to prevent fogging and ensure comfort.
A visor that creates a vacuum seal around the head wouldn't be safe. Inhaling against a strong vacuum can be very dangerous and potentially fatal. So, for safety reasons, a vacuum visor wouldn't be a realistic product.
The vacuum visor wouldn't work is because creating a perfect seal around head is nearly impossible.
The Russian Ukraine war has created political and economic instability, resulting in a decline in consumer purchasing power within the region. The war further impact on the supply chain blockages and semiconductor shortage which have already limited supply . LMC Automotive estimates the global production will be cut by 400,000 units reducing global auto sale in 2023 to 85.8 million that’s well off 93 million that could be sold if automakers could fill demand. The shortfall will continue to put a upward pressure on new and used car prices. At the same time due to the conflict, the higher gas price and rising rates raise the cost of vehicle ownership potentially triggering a significant drop in vehicle demand. Share prices of many automaker with significant operations the region have dropped the situation puts additional pressure on gross margins which have fallen by 8-10 % in the past six quarters.
First, governments and businesses which are focusing on their spending on more immediate needs like defense and basic supplies. This means less money is available to invest in new technologies like virtual sensors. Second, the overall economic uncertainty is making businesses nervous. They might delay or cut back on investments in new tech like virtual sensors until things settle down. On top of that, some industries that rely heavily on virtual sensors, like manufacturing and shipping, might be taking a hit from the war. If these industries slow down, they'll need fewer virtual sensors, further dampening the market. Overall, the war is creating a temporary roadblock for virtual sensors, but the market's long-term prospects are still positive.
By Type:
LCD
LED
There are two main types of virtual visors on the market: LED and LCD. As of 2023, LED visors hold the bigger market share. This is because LEDs allow for more customization. The light they emit can be adjusted in both intensity and color, which means virtual visor users can fine-tune the shading to their liking. This lets drivers get the exact level of darkness they prefer, depending on the brightness outside.
By Application :
Commercial Vehicle
Passenger vehicle
Virtual visors are currently seeing more use in passenger cars than in commercial vehicles. This is likely due to a few reasons. First, there's a growing desire for luxury features and advanced safety systems in personal cars, and virtual visors fit the bill. Second, passenger car drivers are increasingly interested in anything that can improve road safety and visibility. So, with virtual visors offering both customization and a clearer view, it's no surprise they're gaining popularity in this market.
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The North America is currently leading the virtual visor market. There are a few reasons for this. First, car companies in North America are known for being quick to adopt new technology, and virtual visors are right on trend. Second, there's a growing interest in electric and self-driving cars in this region, and virtual visors are seen as a natural fit for these advanced vehicles. Finally, with safety being a top concern for drivers, the potential of virtual visors to improve visibility and awareness is a major selling point in North America.
The Europe is catching up fast in the virtual visor market. This makes sense for a few reasons. First, Europe has a long history of innovation in car technology, and companies there are eager to embrace virtual visors. In fact, Bosch, a major European tech company, is a front runner in this field. Europeans tend to have a higher disposable income, which allows them to afford new car features like virtual visors.
The Asia Pacific region is expected to be the future champion of the virtual visor market. There are two key drivers behind this growth.There's a growing focus on road safety in this region, and virtual visors are seen as a valuable tool for improving visibility and reducing accidents. The auto industry in giants like China, Japan, and South Korea is booming, and car manufacturers are eager to integrate new technologies like virtual visors into their vehicles.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Some of the major players in the ROBERT BOSCH GMBH, ATLAS HOLDINGS, KÖBO GmbH & Co. KG, IRVINE AUTOMOTIVE PRODUCTS, Kasai Kygo Co.ltd, Mursion. , Sunvisors India Private Limited, VISOR-AR, Weetect,Scope AR and other players.
ROBERT BOSCH GMBH-Company Financial Analysis
August 2023 Automotive Sun Visor Market is Expected to Accumulate a Value of US$ 18.1 billion by Registering a CAGR of 4.0% in the Forecast Period 2023 to 2031.Significant usage of automotive sun visors in order to enhance passenger and in-vehicle safety is expected to bolster market development .
January 2024 virtual reality (VR) industry is on the brink of introducing some groundbreaking headsets, each promising to revolutionize our digital interactions. From productivity-enhancing devices to affordable alternatives and high-spec models, these upcoming VR headsets are poised to cater to a wide range of users and applications.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 0.214 Billion |
| Market Size by 2031 | US$ 1.25 Billion |
| CAGR | CAGR of 24.79% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (LCD, LED) • By Application (Commercial Vehicle, Passenger Vehicle) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | ROBERT BOSCH GMBH, ATLAS HOLDINGS, KÖBO GmbH & Co. KG, IRVINE AUTOMOTIVE PRODUCTS, Kasai Kygo Co.ltd, Mursion. , Sunvisors India Private Limited, VISOR-AR, Weetect,Scope AR |
| Key Drivers | • Virtual sensors help save money by spotting equipment problems early, preventing breakdowns and costly repairs. • Oil, gas, and utility companies depend heavily on constantly monitoring their processes. |
| Opportunities | • Virtual visors can work together with existing car safety features like blind-spot monitoring to show drivers important information directly on the visor. • The tech behind virtual visors might not just be for cars - it could also be useful in aviation or construction for clear, customized information displays. |
Ans: The Virtual Visor Market is expected to grow at a CAGR of 24.79%
Ans: Virtual Visor Market size was USD 0.214 billion in 2023 and is expected to Reach USD 1.25 billion by 2031.
Ans: Virtual sensors help save money by spotting equipment problems early, preventing breakdowns and costly repairs.
Ans: Virtual visors are a new technology, so they can be small and struggle with things like recognizing faces or showing AR clearly.
Ans: The North America is currently leading the pack in the virtual visor market by 39%.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact Of Russia Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Virtual Visor Market Segmentation, By Product Type
9.1 Introduction
9.2 Trend Analysis
9.4 LCD
9.5 LED
10. Virtual Visor Market Segmentation, By Application
10.1 Introduction
10.2 Trend Analysis
10.3 Commercial Vehicle
10.4 Passenger vehicle
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 Trend Analysis
11.2.2 North America Virtual Visor Market by Country
11.2.3 North America Virtual Visor Market By Product Type
11.2.4 North America Virtual Visor Market By Application
11.2.5 USA
11.2.5.1 USA Virtual Visor Market By Product Type
11.2.5.2 USA Virtual Visor Market By Application
11.2.6 Canada
11.2.6.1 Canada Virtual Visor Market By Product Type
11.2.6.2 Canada Virtual Visor Market By Application
11.2.7 Mexico
11.2.7.1 Mexico Virtual Visor Market By Product Type
11.2.7.2 Mexico Virtual Visor Market By Application
11.3 Europe
11.3.1 Trend Analysis
11.3.2 Eastern Europe
11.3.2.1 Eastern Europe Virtual Visor Market by Country
11.3.2.2 Eastern Europe Virtual Visor Market By Product Type
11.3.2.3 Eastern Europe Virtual Visor Market By Application
11.3.2.4 Poland
11.3.2.4.1 Poland Virtual Visor Market By Product Type
11.3.2.4.2 Poland Virtual Visor Market By Application
11.3.2.5 Romania
11.3.2.5.1 Romania Virtual Visor Market By Product Type
11.3.2.5.2 Romania Virtual Visor Market By Application
11.3.2.6 Hungary
11.3.2.6.1 Hungary Virtual Visor Market By Product Type
11.3.2.6.2 Hungary Virtual Visor Market By Application
11.3.2.7 Turkey
11.3.2.7.1 Turkey Virtual Visor Market By Product Type
11.3.2.7.2 Turkey Virtual Visor Market By Application
11.3.2.8 Rest of Eastern Europe
11.3.2.8.1 Rest of Eastern Europe Virtual Visor Market By Product Type
11.3.2.8.2 Rest of Eastern Europe Virtual Visor Market By Application
11.3.3 Western Europe
11.3.3.1 Western Europe Virtual Visor Market by Country
11.3.3.2 Western Europe Virtual Visor Market By Product Type
11.3.3.3 Western Europe Virtual Visor Market By Application
11.3.3.4 Germany
11.3.3.4.1 Germany Virtual Visor Market By Product Type
11.3.3.4.2 Germany Virtual Visor Market By Application
11.3.3.5 France
11.3.3.5.1 France Virtual Visor Market By Product Type
11.3.3.5.2 France Virtual Visor Market By Application
11.3.3.6 UK
11.3.3.6.1 UK Virtual Visor Market By Product Type
11.3.3.6.2 UK Virtual Visor Market By Application
11.3.3.7 Italy
11.3.3.7.1 Italy Virtual Visor Market By Product Type
11.3.3.7.2 Italy Virtual Visor Market By Application
11.3.3.8 Spain
11.3.3.8.1 Spain Virtual Visor Market By Product Type
11.3.3.8.2 Spain Virtual Visor Market By Application
11.3.3.9 Netherlands
11.3.3.9.1 Netherlands Virtual Visor Market By Product Type
11.3.3.9.2 Netherlands Virtual Visor Market By Application
11.3.3.10 Switzerland
11.3.3.10.1 Switzerland Virtual Visor Market By Product Type
11.3.3.10.2 Switzerland Virtual Visor Market By Application
11.3.3.11 Austria
11.3.3.11.1 Austria Virtual Visor Market By Product Type
11.3.3.11.2 Austria Virtual Visor Market By Application
11.3.3.12 Rest of Western Europe
11.3.3.12.1 Rest of Western Europe Virtual Visor Market By Product Type
11.3.2.12.2 Rest of Western Europe Virtual Visor Market By Application
11.4 Asia-Pacific
11.4.1 Trend Analysis
11.4.2 Asia Pacific Virtual Visor Market by Country
11.4.3 Asia Pacific Virtual Visor Market By Application
11.4.4 Asia Pacific Virtual Visor Market By Product Type
11.4.5 China
11.4.5.1 China Virtual Visor Market By Product Type
11.4.5.2 China Virtual Visor Market By Application
11.4.6 India
11.4.6.1 India Virtual Visor Market By Product Type
11.4.6.2 India Virtual Visor Market By Application
11.4.7 Japan
11.4.7.1 Japan Virtual Visor Market By Product Type
11.4.7.2 Japan Virtual Visor Market By Application
11.4.8 South Korea
11.4.8.1 South Korea Virtual Visor Market By Product Type
11.4.8.2 South Korea Virtual Visor Market By Application
11.4.9 Vietnam
11.4.9.1 Vietnam Virtual Visor Market By Product Type
11.4.9.2 Vietnam Virtual Visor Market By Application
11.4.10 Singapore
11.4.10.1 Singapore Virtual Visor Market By Product Type
11.4.10.2 Singapore Virtual Visor Market By Application
11.4.11 Australia
11.4.11.1 Australia Virtual Visor Market By Product Type
11.4.11.2 Australia Virtual Visor Market By Application
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Virtual Visor Market By Product Type
11.4.12.2 Rest of Asia-Pacific Virtual Visor Market By Application
11.5 Middle East & Africa
11.5.1 Trend Analysis
11.5.2 Middle East
11.5.2.1 Middle East Virtual Visor Market by Country
11.5.2.2 Middle East Virtual Visor Market By Product Type
11.5.2.3 Middle East Virtual Visor Market By Application
11.5.2.4 UAE
11.5.2.4.1 UAE Virtual Visor Market By Product Type
11.5.2.4.2 UAE Virtual Visor Market By Application
11.5.2.5 Egypt
11.5.2.5.1 Egypt Virtual Visor Market By Product Type
11.5.2.5.2 Egypt Virtual Visor Market By Application
11.5.2.5 South Africa
11.5.2.5.1 South Africa Virtual Visor Market By Product Type
11.5.2.5.2 South Africa Virtual Visor Market By Application
11.5.2.6 Rest of Africa
11.5.2.6.1 Rest of Africa Virtual Visor Market By Product Type
11.5.2.6.2 Rest of Africa Virtual Visor Market By Application
11.5.2.6 Saudi Arabia
11.5.2.6.1 Saudi Arabia Virtual Visor Market By Product Type
11.5.2.6.2 Saudi Arabia Virtual Visor Market By Application
11.5.2.7 Qatar
11.5.2.7.1 Qatar Virtual Visor Market By Product Type
11.5.2.7.2 Qatar Virtual Visor Market By Application
11.5.2.8 Rest of Middle East
11.5.2.8.1 Rest of Middle East Virtual Visor Market By Product Type
11.5.2.8.2 Rest of Middle East Virtual Visor Market By Application
11.5.3 Africa
11.5.3.1 Africa Virtual Visor Market by Country
11.5.3.2 Africa Virtual Visor Market By Product Type
11.5.3.3 Africa Virtual Visor Market By Application
11.6 Latin America
11.6.1 Trend Analysis
11.6.2 Latin America Virtual Visor Market by Country
11.6.3 Latin America Virtual Visor Market By Product Type
11.6.4 Latin America Virtual Visor Market By Application
11.6.5 Brazil
11.6.5.1 Brazil Virtual Visor Market By Product Type
11.6.5.2 Brazil Virtual Visor Market By Application
11.6.6 Argentina
11.6.6.1 Argentina Virtual Visor Market By Product Type
11.6.6.2 Argentina Virtual Visor Market By Application
11.6.7 Colombia
11.6.7.1 Colombia Virtual Visor Market By Product Type
11.6.7.2 Colombia Virtual Visor Market By Application
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Virtual Visor Market By Product Type
11.6.8.2 Rest of Latin America Virtual Visor Market By Application
12. Company Profiles
12.1 ROBERT BOSCH GMBH
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 ATLAS HOLDINGS
12.2.1 Company Overview
12.2.2 Financial
12.2.3 Products/ Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 KÖBO GmbH & Co. KG,
12.3.1 Company Overview
12.3.2 Financial
12.3.3 Products/ Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 IRVINE AUTOMOTIVE PRODUCTS
12.4.1 Company Overview
12.4.2 Financial
12.4.3 Products/ Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Kasai Kygo Co.ltd,
12.5.1 Company Overview
12.5.2 Financial
12.5.3 Products/ Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Scope AR
12.6.1 Company Overview
12.6.2 Financial
12.6.3 Products/ Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Sunvisors India Private Limited
12.7.1 Company Overview
12.7.2 Financial
12.7.3 Products/ Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 VISOR-AR
12.8.1 Company Overview
12.8.2 Financial
12.8.3 Products/ Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Weetect
12.9.1 Company Overview
12.9.2 Financial
12.9.3 Products/ Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Mursion
12.10.1 Company Overview
12.10.2 Financial
12.10.3 Products/ Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. USE Cases And Best Practices
15.Conclusion
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