Pune,India, Jan. 25, 2022 (GLOBE NEWSWIRE) -- The global HUD market was valued at USD 1.76 Billion in 2020 and it is anticipated to grow at a CAGR of 30.23% during the forecast period, according to a recent market study by Quince Market Insights. The opaque display that provides data to vehicle drivers on front window, which does not require the vehicle driver to look away elsewhere is referred to as a head-up display, or HUD. The word comes from a pilot's ability to monitor data with his head "up" and facing forward, rather than tilted down and looking at lower sensors. Despite their military origins, HUDs are now used in commercial planes, cars, and other (mostly professional) applications.
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The increasing number of connected features in passenger cars, as well as safety systems that provide comfort and convenience, leisure, and entertainment, is driving demand for connected vehicles. As a result of increasing sale of cars, the demand for in-vehicle related services has risen. HUDs are a required feature in linked vehicles. Connected vehicles provide visual and auditory entertainment via multimedia devices, as well as comfort and safety features like as navigation and real-time traffic, including parking spot alerts, all of which enhance the driving experience.
The demand for semi-autonomous and electric vehicles has risen significantly in recent years. The development of such vehicles has boosted the growth of the HUD market. Semi-autonomous vehicles can sense their surroundings and navigate to their destination without human interference, and they can be controlled using voice commands. The primary goal of semi-autonomous vehicles is to increase the driver's comfort and safety. These automobiles contain advanced technologies like as park assist, front collision avoidance, and advanced cruise control. As a result, the global HUD market has potential in future due to the increasing demand for semi-autonomous and electrified vehicles.
Impact of COVID-19 on Global HUD Market
The impact of the pandemic on the growth of the HUD market was significant, as the automobile production declined. The supply of components was disturbed due to the disruption of global supply chains and the fact that most HUD research and development, and new product releases were delayed until 2021. The total growth of the HUD market slowed in 2020. However, the global HUD market is expected to recover during the next few years. The automotive industry is the primary application of the HUD market. As the manufacturing and the automotive industries resume, the growth of the HUD market is expected to surge in the future.
Global HUD Market, By Component
Based on component, the market is segmented into projector/projection unit, video generator, software, display unit, and others. Among these segments, display unit captured the largest market share in global HUD market in 2021 and it is anticipated to remain largest till the forecast period. The display unit on the vehicle’s windshield or the combiner processes a picture. High demand for Digital Micromirror Device (DMD), Liquid Crystal Display (LCD), and Liquid Crystal on Silicon (LCoS), which are some of the most prevalent display panel technologies are driving the global HUD market.
Global HUD Market, By Type
Based on type, the market is segmented into AR-based HUD, conventional HUD, Windshield-based HUD. Among these segments, Windshield-based HUD captured the largest market share in global HUD market in 2021 and is anticipated to remain largest till the forecast period. A more sophisticated type of technology is the HUD that is shown on the windshield. It is a standard feature on some premium automotive vehicle models, and it is an optional feature on others in the luxury and mid-range segments. The demand for better in-vehicle technology in advanced countries like Germany and the United Kingdom is propelling the windshield HUD market in Europe forward.
Global HUD Market, By Application
Based on application, the market is segmented into aviation, automotive. Among these segments, aviation captured the largest market share in global HUD market in 2021 and is anticipated to remain largest till the forecast period. The aviation sector has high demand for HUD technology as it is used as a main information displayer in aircrafts assisting pilots. HUD has been available in all large aircraft for several years, including military/defense aviation and general aviation, which is the key driving force for the HUD market in the aviation industry.
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Global HUD Market, By Region
North America captured the largest market share in global HUD market in 2021 and it is anticipated to remain largest till the forecast period. North America's HUD market includes United States, Canada, as well as Mexico. The HUD market in North America has risen exponentially in recent years. The demand for high-end luxury vehicles equipped with HUDs is being driven by increased awareness of safety technology in the automotive and aviation production industries, as well as a large customer base and high discretionary income of consumers.
Recent Developments in Global HUD Market
- October 2019 - Nippon extended its research facility for its HUD business in Tokyo, Japan. Tasks including integrated cockpit development, next-generation HUD development, as well as design and development enhancement would be handled by the upcoming Tokyo R&D center.
- October 2018 - Continental unveiled an industry-first full-color demonstration of an automotive-specific head-up display using waveguide technology, in collaboration with DigiLens.
Major companies studied are Bosch (Germany), Continental (Germany), Denso Corporation (Japan), BAE Systems (UK), Pioneer Corporation (Japan), Yazaki (Japan), and Nippon Seiki Co., Ltd. (Japan), Visteon Corporation (US), Panasonic Corporation (Japan), Garmin (Japan).
For more information on this topic please visit our website report titled, “HUD Market, by Type (Conventional HUD, AR-Based HUD, Wind-shield-based HUD), Component (Projector/Projection Unit, Video Generator, Display Unit, Software, and others), Application (Aviation, Automotive), and By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America)” — in-depth analysis along with the table of contents (ToC).
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