ID: MRFR/AM/1828-CR | April 2020 | Region: Global | 136 pages
Automotive Head-Up Displays (HUD) Market in terms of value is estimated to register a 24.09% CAGR during the forecast period.
The automotive OEMs are expected to implement augmented reality (AR) HUDs with a long virtual image distance and large display area to minimize driver distraction and increase situational awareness by incorporating the advanced driver assistance system (ADAS) information. Conventional HUDs are large in size and difficult to incorporate into the instrument cluster. Several HUD manufacturers are working on developing new technologies and utilizing advancements in the areas of holographic films and waveguides. Digital light processing is a set of chipsets, which reduce the mechanical volume of the entire HUD system while also enabling a huge display area with long virtual image distances. The digital light processing can be incorporated with LED lights, which have narrow laser bandwidth that offers a premium and enhanced driving experience. Additionally, digital light processing offers color saturation, contrast color mode, electrical and optical efficiency, and enhanced projections, which can be implemented in small areas in the instrument cluster. Digital light processing is being incorporated into AR HUDs for various premium and luxury vehicles.
HUD manufacturers are developing and launching new technologies for HUDs used in vehicles to enable the driver to find directions, send messages, and play music while driving. For instance, in January 2019, Continental AG is working on developing an exclusive HUD for sports cars. This display offers reliable visualization of information in the driver’s field of vision and helps enhance safety and comfort while driving in traffic. This driving assistant helps the driver with road behaviors, updates, and high traffic areas.
The Global Market for Automotive Head-Up Display is segmented based on component, product type, fuel type, and end-user. Based on component, the global automotive HUD market is segmented into video generators, projectors/projection units, display units, software, and others. The projectors/projection segment registered a significant market share in 2018. The projectors/projection units project real-time data and information about the vehicle and road conditions, road signs, navigation maps, and lane departure alerts. The increase in demand for windshield HUDs and portable HUDs in economical cars and the increase in demand for contrast pictures in vehicle windshields is expected to further boost the demand for projectors/projection units in automotive HUDs during the forecast period. The video generator segment is projected to witness a considerable share in the market. It is used for displaying video and real-time developments both in the vehicle and outside the vehicle. The growing demand for real-time situation projection and high-quality picture and video images in HUD and the rapid advancements in HUD technology further boost the demand for video generators in automotive HUDs during the forecast period.
Based on Product Type, the market is segmented into Windshield HUD and Combiner HUD. Combiner HUDs will witness a substantial share in the market. Combiner HUDs are compact in design and can be projected into various locations and different positions. This type of HUD requires less installation space compared to other systems. A combiner HUD is designed with a combiner that is used as a mirror for showing information. Combiner HUDs require limited space and can be integrated into the cockpit of any vehicle, including sports cars with limited cockpit space. Combiner HUDs come with a single mirror in the interior, which makes their construction extremely flat, enabling them to be integrated into smaller areas. Hence, the combiner HUD segment is projected to register a 27.20% CAGR during the forecast period.
Based on Technology, the market is segmented into AR and conventional. The conventional segment will register a considerable share in the market. The AR HUDs offer an exterior view of the vehicle condition, traffic conditions, and other necessary information to the driver. The essential safety features in vehicles such as pedestrian warning, blind-spot detection or night vision, and the advanced driver assistance system is also displayed using AR. HUDs incorporated with AR technology provides the driver with information about road signals, warning indicators, speed limits, and navigation, using data from Wi-Fi, cameras, maps, sensors, and GPS. These technologies are expected to raise the demand for HUDs with AR in connected and autonomous vehicles during the forecast period.
Based on Fuel Type, the market is segmented into ICE and electric. The electric segment will register significant growth in the market. Growing government initiatives for the incorporation of electric vehicles, an increase in government subsidies and policies for the development of electric vehicles, and the growing environmental awareness further boost the demand for electric vehicles across the globe. There is massive growth in the sales of electric vehicles, owing to the shifting preference for zero-emission vehicles in the global market.
Based on End-User, the market is segmented into economic cars, mid-segment cars, and luxury cars. The mid-segment cars are expected to account for a steady share in the market. The mid-segment cars range between USD 20,000 and USD 35,000. The increase in disposable income along with the increase in purchasing power of consumers, increase in demand for safety features in midsegment cars, and the increase in production and sales of these vehicles are further expected to boost the demand for mid-segment cars in the global market during the forecast period.
The growth of market players is dependent on market conditions, end-use industry growth, and technology developments. Thus, the vendors should consider focusing on expanding geographically and improving product quality. Robert Bosch GmbH, Continental AG, Panasonic Corporation, Denso Corporation, Visteon Corp., Yazaki Corporation, Pioneer Corporation, Nippon Seiki Co., Ltd., Alps Alpine Co., Ltd., and Garmin Ltd are the key companies in this market, who compete based on market presence, product specifications, quality, and price.
By Region, the Global Automotive Head-Up Display Market is segmented into North America, Asia-Pacific, Europe, and the rest of the world.
Europe accounted for the largest share in the global automotive HUD market. Countries in Europe including the UK and Germany will significantly contribute to the market share. According to the UK Legal Expert, over a million claims for front windshield injuries are made every year. Aviva Plc estimated that around 80% of the claims involved whiplash-related injuries in motor crash cases. Thus, the growing consumer awareness in the UK is expected to meet the safety standards to minimize the risk of accidents during front-end collisions. The increase in awareness about vehicle safety through the incorporation of HUDs and other safety components are expected to influence the demand for vehicles equipped with HUDs during the forecast period.
In 2018, Asia-Pacific registered a considerable share in the global market. China is estimated to be the largest market with the highest share of automotive HUD in Asia-Pacific throughout the forecast period, owing to the increased sales of premium passenger vehicles. The rising automotive aftermarket industry, availability of cost-effective raw materials and labor, and the growing automotive component market are further expected to raise the demand for automotive HUD. Additionally, the high gross domestic product (GDP) growth, technological developments, and the rising middle-class income are expected to drive the demand for luxury vehicle sales and fuel the market in China. This country has a large electric vehicle concentration, which is expected to increase the research and development activities regarding automotive HUD and create investment opportunities in the global automotive HUD market.
The global Automotive Head-Up Display Market is characterized by the presence of many global, regional, and local vendors. The global market is in the initial growth stage and the manufacturers are expected to invest heavily in collaborations and partnerships with the integrators and automotive OEMs. The vendors compete based on cost, quality, and reliability of the technology in the systems of the vehicle. It is crucial for the vendors to provide cost-effective and high-quality products and services in order to survive and succeed in an intensely competitive market environment.
|Market Size||2027: Significant Value|
|CAGR||24.09% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Product Type, Technology, Fuel Type and End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Robert Bosch GmbH, Continental AG, Panasonic Corporation, Denso Corporation, Visteon Corp., Yazaki Corporation, Pioneer Corporation, Nippon Seiki Co., Ltd., Alps Alpine Co., Ltd., and Garmin Ltd|
|Key Market Opportunities||Increase situational awareness by incorporating the advanced|
|Key Market Drivers||Increase in demand for windshield HUDs|
Frequently Asked Questions (FAQ) :
The global automotive headup display market is poised to record a market value of USD 5 Billion by 2023.
The global automotive headup display market is maturing at a whopping 27.5% CAGR over the review period of 2017 to 2023.
A few significant players of the global automotive headup display market are Panasonic Corporation (Japan), Visteon Corporation (US), Robert Bosch GmbH (Germany), and BAE Systems (UK), among others.
The ICE segment is expected to drive market growth over the review period.
The augmented reality segment is likely to witness the highest demand in the automotive headup display market.