With companies increasingly digitalizing automotive manufacturing processes, mixed reality (MR) tools are gaining significance for improving design and prototyping, streamlining assembly processes, enhancing quality control, reducing downtime, and increasing safety. In addition to these benefits, MR holds the potential to transform the automotive manufacturing industry by strengthening collaboration between different departments, reducing the need for paper manuals, making training more engaging, and improving customer service. The MR offerings for automotive customers include virtual reality (VR) and augmented reality (AR) technologies as well. As companies continue to develop these offerings and make them more affordable, the automotive manufacturing space will see more innovative and transformative applications for MR.
This Frost Radar™ highlights market participants supplying MR/AR/VR solutions to support the manufacturing processes of OEMs and tier-level component suppliers in the automotive industry. It features a mix of start-ups and established players, namely Actimage, Altoura, Engage XR, Hexagon, Hololight, Varjo, and Autodesk. Some of these companies provide MR software solutions running on standard MR hardware, such as Microsoft’s HoloLens, while others provide both specialized hardware and software to enable extended reality (XR) experiences. Most of them have partnered with Microsoft and Unity to create their MR offerings.
Increased adoption of transformative technologies, such as digital twins, simulation, and modeling, is accompanied by demand for immersive technology tools to maximize customer benefits. Also, automotive industry megatrends, such as the adoption of CASE vehicles, and various digital transformations in manufacturing, such as virtual design, prototyping, and virtual workspaces, are driving demand for MR tools.
Using the Innovation and Growth Indices, this Frost Radar™ analyzes critical success factors for MR tools that are driving the adoption of these solutions across the entire automotive value chain, with significant focus on manufacturing.
Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™ considering their strengths and the opportunities that best fit those strengths.
Mixed Reality Tools for Automotive Manufacturing 2023
- Mixed Reality Tools for Automotive Manufacturing
Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Growth Index
Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.
- Market Share (previous 3 years)
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This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.
Innovation Index
Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.
- INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals. - RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. - PRODUCT PORTFOLIO
This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue. - MEGATRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. - CUSTOMER ALIGNMENT
This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.
Significance of Being on the Frost Radar™
Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
- GROWTH POTENTIAL
Your organization has significant future growth potential, which makes it a Company to Action. - BEST PRACTICES
Your organization is well positioned to shape Growth Pipeline™ best practices in your industry. - COMPETITIVE INTENSITY
Your organization is one of the key drivers of competitive intensity in the growth environment. - CUSTOMER VALUE
Your organization has demonstrated the ability to significantly enhance its customer value proposition. - PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.
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| Deliverable Type | Frost Radar |
|---|---|
| Author | Sandhya Jesu |
| Industries | Automotive |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Mixed Reality Tools |
| Keyword 2 | Augmented Reality In Automotive |
| Keyword 3 | Automotive Manufacturing Technology |
| Podcast | No |
| WIP Number | PF70-01-00-00-00 |
Frost Radar™: Mixed Reality Tools for Automotive Manufacturing, 2023
A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines
23-Nov-2023
Global
Frost Radar
