Automotive HUD Market
The Automotive HUD Market is projected to grow at a steady CAGR during the forecast period (2020-2027).
The factors driving the growth of Automotive HUD Market includes growing consciousness about vehicle safety amongst consumers, increasing demand for luxury cars, connected cars and Electric Vehicles, integration of advanced technologies such as voice-operated head-up display systems and Liquid Crystal Display (LCD). As per the report published by Bloomberg, the Global Connected Car Market is projected to reach USD 56.3 billion by 2026, from USD 23.6 billion in 2021, growing at a vigorous CAGR of 19.0%, during the forecast period (2021 to 2026), which will accelerate the Automotive Hud Market size in the upcoming years. In addition, the rising investments on research and development by the leading players to develop advanced display systems and increasing number of road accidents around the world, are expected to enhance the market growth in the approaching years. According to World Health Organization (WHO), around 1.3 million people across the globe, die every year in road traffic accidents, of which 93% fatalities happens in low- and middle-income Countries.
However, the growth of Automotive HUD Market is hindered due to greater storage capacity required for installation of HUD systems.
The major players operating in the market includes Visteon Corporation, YAZAKI Corporation, PIONEER, Continental AG, Robert Bosch GmbH, Panasonic Corporation, Nippon Seiki Co., Garmin Ltd., LG Display Co., Ltd. And Denso Corporation among others.
HUD Type – Segment Analysis
Based on the HUD type, the windshield segment is predicted to grow at a higher CAGR during the forecast period. The growing demand for light-emitting diodes (LED) and liquid crystal display (LCD) and continuous technological innovations have lowered the manufacturing cost of HUD systems, are some of the factors supporting the growth of the segment.
Vehicle Type – Segment Analysis
Based on the vehicle type, the passenger cars segment is anticipated to expand at a significant CAGR over the forecast period attributed to growing demand for luxury cars and integration of advanced technologies inside the passenger cars.
Region – Segment Analysis
As per Automotive Hud Market Trends, the Asia Pacific region is projected to grow at remarkable CAGR during the forecast period owing to increased manufacturing of passenger vehicles, presence of the leading players and rising demand for advanced safety systems. Moreover, abundance of cheap labor, increasing disposable income, rapid urbanization and favorable Government policies makes this region lucrative for global manufacturers to shift their production line in Asia Pacific.
Global Automotive HUD Market by HUD Type
Global Automotive HUD Market by Technology
- Conventional HUD
- Augmented Reality (AR) HUD
Global Automotive HUD Market by Vehicle Type
- Passenger Cars
- Commercial Vehicles
Global Automotive HUD Market by Region
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
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