The head-up display market is emerging at a faster rate over the years and is expected to raise its market valuation by around USD 11 billion by the end of the year 2022. The CAGR of the global head-up display market is presumed to reach 24 percent in the duration of 2016 to 2022.
Head-up displays are display projection that enables drivers to vision from their self-focus angle. Such display units reflect information on the vehicle's or aircraft's front glass to perfectly fit into the users' field of sight. In recent years, the cases of accidents are escalating at a rapid pace. With the help of display units of the head-up display industry, the chances of occurrences of accidents will subsequently decrease as the information is visible in front of the driver's eyes. These systems support increased safety and draw all the attention or focus towards the traffic. The reduced risk of accidents elevates the expansion of the head-up display market size.
The advanced technology of the head-up display (HUD) market serves best in the field of aviation and the military sector. Passenger traffic's rapid increase over the past few years has escalated the demand of the head-up display industry in the civil aviation field. The rising demand for head-up display market share shows the enhancement in consumer experience in aircraft or vehicles for safety purposes which peoples the market growth. These display units are extremely effective and save a lot of time for users from using smartphones or other things while driving. The head-up display industry growth is increasing exponentially in recent times due to the extreme necessity of safety features in vehicles.
The global market report provides in-depth insights about the growth estimation of the market in the forecast period. It describes the impact of COVID 19 on the head-up display industry and market dynamics, including the opportunities and challenges of the market growth. A brief analysis is provided on the segments of the head-up display industry and the key players that will influence the market in the upcoming years. The head-up display industry report sheds light on different geographies that will show the market growth during the forecast period.
COVID 19 Analysis
The outbreak of the COVID 19 pandemic breakdown the global economic growth and adversely affected the financial as well as health sector all over the world. The coronavirus disease impacted the operations of various industries and led to the closure of manufacturing units. The restrictions of lockdown resulted in the shutting down of many businesses and the working sector. During the pandemic, people stayed mostly at home, which impacted the head-up display market. However, the demand for the head-up display industry is not going to stop any sooner as vehicle production is increasing day by day, which raises the need for head-up displays.
The increased cases of accidents also encourage the head-up display market growth for ensuring the safety of users. The usage of display units is a great step to focus the driver's entire attention on the traffic, which led to steady growth of the head-up display industry even in harsher circumstances. With the rising awareness for vehicle safety, the demand for the head-up display industry is expected to reach optimum heights in the near future.
The automobile, military, and aviation sectors are the major driving force of the head-up display industry. The utilization of display units in the aviation industry and military will make these sectors more advanced in technology. In recent years, an upsurge of passenger traffic has taken place in the civil aviation sector, which immensely requires head-up display systems. The escalation of demand for these systems has increased the head-up display industry share globally. According to the global market report, the improvement in consumer experience for ensuring safety in vehicles and aircraft has led to the elevation of head-up display market growth.
The head-up display market provides numerous benefits that will propel the market potential in the upcoming years. Head-up display units provide consumers a great experience while driving by displaying the information in the front glass of the vehicle. The head-up display technology has immense potential in the field of military and aviation as it enables information projection at the driver's point of vision and helps them to provide complete attention towards traffic. These systems are widely used in heads-up display car so that the driver has no need to use phones or other things while driving.
In the civil aviation sector, there is a significant increase in passengers in recent times, which expand the head-up display industry size. The subsequent increase in the requirement for head-up displays will fuel the growth of the head-up display (HUD) market to a greater extent in the forecast years.
The major restraint for the head-up display market is the adverse impact of the COVID 19 pandemic. The economic growth declined to lower rates and will take several years to regain its momentum. During the pandemic, working sectors and industrial operations were restricted, which resulted in heavy financial loss globally. The imposition of lockdown measures led to the closure of the operation of manufacturing units which eventually disturbed the supply chain. The demand to supply gap kept widening in the pandemic.
The global head-up display industry was also affected by the surface of coronavirus disease. However, the increasing demand in the automotive head-up display industry will raise the market growth in the upcoming times.
Over the years, the head-up display market is growing exponentially due to its huge demand in several sectors. However, the head-up display (HUD) market has certain challenges too. The light efficiency of the head-up display is low, and the reason behind it is the extremely complex structure in the head-up display systems optical structure. As these difficulties lessen the quality of consumer experience, the growth of the global market during the forecast period can be hampered.
Value Chain Analysis
The revenue generation of the head-up display industry has touched the greatest heights in recent years, and by the end of 2022, the market will attain its momentum. As per the head-up display market report, the market value in the upcoming years will surpass the previous historic market growth. The increasing demand for head-up displays in the global vehicle sector has propelled the growth of the head-up display industry share.
The global head-up display market is fragmented on the basis of components, type, and application. The head-up display industry segmentation on the basis of components include projector unit, video generator, and combiner. The segmentation of the head-up display (HUD) market on the basis of type consists of helmet-mounted head-up display units and fixed-mounted head-up display units. In the fixed mounted head-up displays type, the driver looks through the information in the glass of the vehicle or aircraft. The weight and size of such displays are more compared to other head-up displays in the market. On the basis of application, the HUD market segmentation includes the military sector, aviation sector, and automotive industry.
The head-up display market is studied in different geographical regions such as North America, Asia-Pacific, Europe, and the rest of the world. In North America, the rising awareness about the installation of safety systems in the vehicle or aircraft has increased the global market share. North America has the maximum market share in the global competitive market and is expected to dominate during the forecast period.
The European region has the second-largest head-up display market share in the world. The increasing demand for safety system installed SUVs, luxury cars, and premium quality vehicles have resulted in the stupendous rise of the head-up display industry in Europe.
Competitive Landscape of the market
The prime players in the head-up display market are:
Frequently Asked Questions (FAQ) :
The component-wise segments enlisted in the MRFR report are video-generator, projector unit and combiner.
Fixed-mounted head-up displays involves the driver looking via the image displayed that is mounted on the glass of vehicle/aircraft.
The market value by 2022 is estimated to be USD 11 billion, estimates MRFR.
The applications of head-up display are in military and civil aviation sector and automotive industry.
Head-up displays’ light efficiency is quite low, given the complex structure of the optical system present in them. This can act as a major barrier in the market growth in the coming years.