The market for head-up displays, which show information on a screen in front of you while you’re driving or using certain devices, is set to be worth about $8.6 billion in 2023. However, it’s predicted to increase quite a bit and reach a value of around $46 billion by the year 2033. This means that these displays are becoming more and more popular. In fact, the sales of head-up displays are expected to grow quite rapidly, with an annual growth rate of about 18.3% over the next several years. This indicates a strong demand for this technology.
The market for automotive technology is booming, mainly because more and more people around the world are buying cars. People are also becoming increasingly interested in high-end and luxury vehicles that come with advanced displays and safety features like Head-Up Display (HUD) systems.
What’s really driving this market forward is the fact that car manufacturers are adding cool stuff to their vehicles. They’re using technology like augmented reality (AR) to make driving safer and more enjoyable. Think of it like having extra helpful information displayed on your windshield, like a co-pilot guiding you. This makes driving safer and more fun, and that’s why people want cars with these features.
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Key Takeaways from the Head-Up Display Market:
- The U.K. is emerging as an appealing niche in the European market due to the increasing use of cutting-edge technical solutions in the automotive industry. The demand for head-up displays in the United Kingdom is anticipated to grow at a CAGR of 17.3% during the course of the study, according to the report.
- Sales in the U.S. market are anticipated to increase at a staggering 18.1% CAGR through 2033 and reach a market share of US$ 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 the 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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