The overall head-up display (HUD) market size is projected to top US$ 7.053 Bn in 2022, as per another market assessment by Future Market Experiences (FMI). Growing revenue for free vehicles is supposed to push bargains at a 21.4% CAGR, with the market size showing up at US$ 22.6 Bn by 2028.
Furthermore, the blend of connective headways like mechanized thinking (artificial intelligence) and extended reality in HUDs to chip away at the driving experience and road security will remain a focal improvement driver. As per FMI, applications in the auto region are supposed to remain high, addressing 22% of the hard and fast head-up display market share in 2022.
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Extensive Demand from Automotive and Military and Defense Sectors to Present Lucrative Growth Prospects
The demand for advanced cars has increased substantially in developed as well as developing regions with the disposable income of consumers increasing along with the average household income. Consumers are moving forward with the trends and technologies taking shape in the automotive industry based on which it has been anticipated that the integration of augmented reality is going to be relatively high in the near future, thus pushing the sales of head-up displays. Not only is the automotive sector one of the lucrative end users, the military and civil and aviation sectors are also going to emerge as potential sectors for manufacturers to invest in the near future.
The average household income of consumers in the Asia Pacific region has been constantly increasing over the past couple of years and is expected to maintain the forward trend in the coming years as well. ASEAN countries and India are likely to exhibit a high a demand for advanced and new consumer electronics and cutting edge automotive products including head-up displays. With these factors in consideration, APAC is expected to rise at an outstanding
Companies to Gear up with Population Specific Strategies
The manufacturers and suppliers of head-up displays should focus the middle-class population as their target consumers, mostly developing countries. The introduction of economical and feasible products will help in the expanding their consumer base and also cater to the technological needs of the developing regions. The leading companies in the market are BAE Systems, Continental AG, Denso Corporation, Honeywell Aerospace, Panasonic Automotive Systems, and Robert Bosch, among several others.
Leading players operating in the global head-up display market are focusing on research and development to integrate connective technologies such as artificial intelligence (AI) and augmented reality (AR). Through this, players are aiming to diversify their product portfolios. In addition to this, players are investing in mergers, acquisitions, and collaborations to gain a competitive edge in the market. For instance:
- In February 2021, Panasonic displayed a futuristic augmented reality (AR) head-up display (HUD) at the 2021 Consumer Electronics Show. The new HUD uses artificial intelligence to detect and highlight potential obstacles and hazards including pedestrians, cyclists, vehicles, and bridges.
- In October 2019, Nippon opened a new development center in Tokyo, Japan, for its HUD business. The new R&D center will focus on tasks such as integrated cockpit development and next-generation HUD development for product enhancement.
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How Will the Integration of Connective Technology Influence Head-Up Display Sales?
Augmented reality (AR) is a developing area of technology, which is attracting interest in its ability to overlay digital objects in the surroundings at the consumer’s disposal. To improve the safety features and visibility in autonomous vehicles, manufacturers are getting inclined towards the integration of augmented reality (AR) and artificial intelligence (AI) in HUDs.
When combined with existing holographic HUDs, AR potentially enhances functionality by overlaying navigation indications and other obstacles with color-coded strips and other indicative features.
Head-up Display Market: Segmentation
- Projection Unit
- Video Generator
- Display Panel
- Micro Electro Mechanical Systems
- Liquid Crystal Display (LCD)
- Military and Defense
- Civil and Aviation
- Others (Manufacturing,
- Wearable etc.)
- Head Mounted
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Table of Content
- Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
- Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
- Market View Point
3.1. Macro-Economic Factors
3.2. Opportunity Analysis
- Global Head-Up Display Market Analysis 2017–2022 and Forecast 2022–2028
4.1. Market Size and Y-o-Y Growth
4.2. Absolute $ Opportunity
4.3. Value Chain
To Continue TOC…
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