The head-up display market is set to expand substantially in the coming years. In 2023, it is estimated to be worth around US$ 8.6 billion, and this value is predicted to soar to a staggering US$ 46.0 billion by 2033. This remarkable growth is driven by an impressive Compound Annual Growth Rate (CAGR) of 18.3% throughout the forecast period.
The market is primarily being driven by the rising global sales of automobiles. Along with this, rising customer demand for luxury and premium vehicles with cutting-edge display and safety features, such as HUD systems, is propelling the market’s expansion.
In order to provide a safer driving experience and thus boost product demand, several manufacturers are incorporating various driver aid features, such as augmented reality (AR) and a bigger space for graphics.
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In addition, a number of automakers are integrating HUDs into mid-range car models in an effort to appeal to middle-class and lower-income consumers, which is anticipated to boost the market.
Other factors influencing the expansion of the worldwide head-up display market include increased urbanization, rising consumer spending power, and a number of technological developments, including the use of liquid crystal displays (LCD) and light-emitting diodes (LED).
Key Takeaways from the Head-Up Display Market:
- The U.K. is emerging as an appealing niche in the European market due to the increasing use of cutting-edge technical solutions in the automotive industry. The demand for head-up displays in the United Kingdom is anticipated to grow at a CAGR of 17.3% during the course of the study, according to the report.
- Sales in the U.S. market are anticipated to increase at a staggering 18.1% CAGR through 2033 and reach a market share of US$ 16.6 billion by that year, according to FMI. The market is being stimulated by ongoing investments in the military and defense industry, and sales are anticipated to keep increasing in the years to come.
- The projection unit had the highest sales volume in 2022, generating US$ 891.6 million in revenue. This is due to its high level of transparency and environmental friendliness.
- HUD applications in the automotive sector are expected to grow at 24.2% over the forecast period. To improve the driving experience, leading automakers are deploying advanced HUDs in premium and exclusive vehicle lines.
- The primers and base coat segment are dominant in the Heads-Up Display market. Both segments collectively hold around 66.3% of share in global Heads-Up Display market.
Competitive Landscape:
Leading companies in the worldwide head-up display market are concentrating on research and development to incorporate connective technologies like augmented reality and artificial intelligence (AI) (AR). Players want to diversify their product portfolios with this. In order to obtain a competitive edge in the market, firms are also engaging in mergers, acquisitions, and collaborations.
- In January 2022, CY Vision introduced 3D augmented reality head-up displays for automobiles. (3D AR-HUD). It offers the broadest field of view in augmented displays now available for all kinds of weather and distances.
- In September 2021, For its A320 family of aircraft, Airbus is creating a newly improved flight vision system (EFVS). The sophisticated vision sensor needed to create head-up displays will be provided by Collins Aerospace. The sensor, a system of many specialty cameras, a head-up display (HUD), and cockpit controls make up the EFVS now under development.
Key Players:
- BAE Systems
- Continental AG
- Denso Corporation
- Honeywell Aerospace
- Microvision, Inc.
- Nippon Seiki Co., Ltd.
- Panasonic Automotive Systems
- Pioneer Corporation
- Robert Bosch
- Rockwell Collins
- Saab
- Thales Group
- Visteon Corporation
- Yazaki Corporation
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Head-Up Display Market Segmentation:
By Component:
- Projection Unit
- Video Generator
- Display Panel
- Software
By Technology:
- CRT
- Micro Electromechanical Systems (MEMS)
- Liquid Crystal Display (LCD)
- DLP
- LCOS
- Waveguide
By Application:
- Military and Defense
- Civil and Aviation
- Automotive
- Others (Manufacturing, Wearable etc.)
By Type:
- Windshield
- Combiner
- Head-Mounted
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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