Global Automotive Head-up Display (HUD) Market Overview:
The automotive head-up display market is growing profusely. The market growth attributes to the increasing awareness for safety features and vast advances in automotive & display technologies. Moreover, the growth of luxury and premium cars escalate the market on the global platform.
The market is booming and expected to gain prominence over the forecast period. According to a recent study analysis published by Market Research Future (MRFR), the global automotive head-up display market is poised to create exponential valuation, registering a whopping double-digit CAGR over 24.9 %. Growing traffic concerns have led to increasing the demand for head-up displays in the automotive sector.
Augmented reality head-up displays would help to make driving even more comfortable and safe soon. The increasing demand for head-up displays to improve the consumer experience in vehicles to ensure safety is a major growth driver for the head-up displays market.
However, the light efficiency of these head-up displays is low due to the complex structure of the optical system used provided in it. This, as a result, is impeding the growth of the market. Also, the high cost of windshield HUD is another restraint that could hinder the market growth.
Payers leading the global automotive head-up display market include Rockwell Collins (US), Continental AG (Germany), Nippon Seiki Co. Ltd. (Germany), Yazaki Corporation (Japan), Denso Corporation (Japan), Delphi Automotive PLC (UK), Visteon Corporation (US), Panasonic Corporation (Japan), BAE Systems (UK), and Robert Bosch GmbH (Germany) among others.
Global Automotive Head-up Display Market – Segments
The automotive HUD market report is segmented into components, product types, technology, application, and regions. The component segment is sub-segmented into video generators, projectors/projection units, display units, software, and others. The product type segment is sub-segmented into windshield HUD, combiner HUD, and others.
The technology segment is sub-segmented into augmented reality (AR) and conventional. The application segment is sub-segmented into premium, luxury, and mid-segment cars. The region segment is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.
Global Automotive HUD Market – Regional Analysis
Asia Pacific dominates the global automotive head-up display market with the burgeoning automotive sector in the region. The demand for automotive HUD in this region is gradually growing with the strengthening economy in India, China, and Southeast Asian countries. Besides, leading head-up display manufacturers are shifting their bases in major emerging economies in this region, providing impetus to the market growth.
Advancing automotive and display technologies, alongside the increasing number of OEM and aftermarket companies, drive the growth of the market. Moreover, the adoption of automotive HUD in the mid-range car segment led by improving socio-economic conditions in the region boost the market size.
North America is the second-largest market for automotive head-up displays. Factors such as stringent safety norms and increasing awareness about the safety systems installed in vehicles boost the market size.
The automotive head-up display market in Europe has emerged as a profitable market globally. The market growth is driven by the augmenting demand for luxury or premium cars and SUVs equipped with automotive head-up display systems.
Automotive Head-up Display Market – Competitive Analysis
Highly competitive, the automotive HUD market appears fragmented due to the presence of several well-established players. These players incorporate strategic approaches such as mergers & acquisitions, collaborations, expansion, and technology/product launches to gain a larger competitive share.
March 31, 2021 — Himax Technologies, Inc. (Taiwan), a leading supplier & manufacturer of fabless semiconductors and display drivers and BOE Varitronix Limited (Hong Kong), a leading global supplier of automotive display products, announced their partnership with a leading new energy vehicle (NEV) maker secure a flexible AMOLED automotive display solution design.
Recently, the solution has been applied to the customer’s upcoming launch of a flagship NEV model. The partnership would allow Himax to promote its innovative automotive display solutions and nurture its leading-edge AMOLED technology. The deal is further expected to help Himax launch advanced display solutions to the ever-growing car market, especially for NEV.