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Metaverse for Automotive Market Share

Report ID: GMI10079
Published Date: Jul 2024
Report Format: PDF

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Metaverse for Automotive Market Share

BMW Group & Mercedes-Benz AG together held over 30% share of the metaverse for automotive industry in 2023. BMW Group, a leading luxury automotive manufacturer, has been actively exploring and investing in metaverse technologies to enhance its brand presence, customer experiences, and product development processes. The company acknowledges the potential of the metaverse to revolutionize the automotive industry and has taken several initiatives to position itself at the forefront of this emerging technology.

Mercedes-Benz AG is a renowned German luxury automotive manufacturer with a rich history and global presence. The company is leveraging metaverse technologies to create digital twins of their vehicles and production facilities. This allows for more efficient design iterations, virtual testing, and optimization of manufacturing processes, potentially reducing development time and costs.

Metaverse for Automotive Market Companies

Major players operating in the metaverse for automotive industry are:

BMW Group
Mercedes-Benz AG
Toyota Motor Corporation
Ford Motor Company
General Motors (GM)
Unity Technologies
Nvidia Corporation

Authors: Suraj Gujar , Kanhaiya Kathoke

Frequently Asked Questions (FAQ) :

The market size of metaverse for automotive reached USD 2.3 billion in 2023 and is set to witness over 30% CAGR from 2024 to 2032, owing to the rising consumer demand for more personalized and engaging experiences worldwide.

Metaverse for automotive industry from the software segment is expected to register over 30% CAGR from 2024 to 2032, due to seamlessly leveraging AI to personalize user interactions.

Asia Pacific market is expected to reach USD 8.5 billion by 2032, attributed to increasing adoption of virtual showrooms where customers can explore and interact with vehicles remotely in the region.

BMW Group, Mercedes-Benz AG, Toyota Motor Corporation, Ford Motor Company, General Motors (GM), Unity Technologies, and Nvidia Corporation, are some of the major metaverse for automotive companies worldwide.