Dublin, Feb. 08, 2024 (GLOBE NEWSWIRE) -- The "Automotive HUD Market by Technology (AR-based HUD, Conventional), HUD Type (Combiner, Windshield), Offering (Hardware, Software), Vehicle Class, Level of Autonomy, Dimension Type, Vehicle Type (PC, CV), EV Type and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global automotive HUD market is projected to grow from USD 1 billion in 2023 to USD 2.2 billion by 2028, at a CAGR of 16.6%. The market comprises of major manufacturers such as Nippon Seiki Co. Ltd. (Japan), Continental AG (Germany), DENSO Corporation (Japan), Panasonic Holdings Corporation (Japan), Foryou Corporation (China), Yazaki Corporation (Japan), and Valeo (France), etc.
Increasing awareness about passenger as well as vehicle safety in conjunction with steady growth in demand for luxury and high-end segment cars, mainly in emerging markets are expected to bolster the revenue growth of the automotive HUD market during the forecast period. In addition, rising demand for connected vehicles paired with increasing demand for enhanced in-vehicle experience are also major factors expected to drive the market growth.
The windshield HUD segment is estimated to grow at a noticeable CAGR during the forecast period
Windshield HUDs offer more information compared to combiner HUDs, which, in turn, is expected to increase the demand for windshield HUDs in the near future. Additionally, the integration of augmented reality technology in windshield HUDs is expected to drive the growth of the windshield HUD segment during the forecast period.
By 2028, Asia Pacific is expected to be the largest market for windshield HUDs due to the growing demand for advanced in-vehicle technology in advanced markets such as China and Japan, increasing demand for premium vehicles with advanced in-vehicle safety systems, and a significant installation rate of windshield HUDs in mid-segment vehicles.
2D HUD segment is likely to dominate the automotive HUD market during the forecast period
The 2D HUD segment is expected to have significant growth opportunities in the automotive HUD market during the forecast period. 2D HUDs project real-time information about the vehicle's speed, upcoming turns, traffic conditions, and relevant warnings, which, in turn, help vehicle owners/drivers stay aware of their surrounding environment and make informed decisions.
In addition, 2D HUDs can work in conjunction with various advanced driver assistance systems (ADAS) and safety features, displaying alerts and relevant information from these systems directly to the driver. All these aforementioned parameters are likely to support the revenue growth of the 2D HUD segment during the forecast period.
Asia Pacific shows high growth potential for automotive HUD market
Asia Pacific is projected to be the largest market for automotive HUDs during the forecast period. Countries such as China, India, Japan, South Korea, and the Rest of Asia Pacific are considered under Asia Pacific for market analysis. One of the key factors driving the market growth in this region is the large production of passenger vehicles, coupled with the increasing penetration of connected cars and other advanced technologies. China and India are considered manufacturing hubs for the automotive industry.
According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), China and India together produce approximately 30 million vehicles every year. With an increase in the production of vehicles, the demand for advanced technology associated with vehicles is expected to increase. This, in turn, is expected to drive the growth of the automotive HUD market in the region.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 331 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $1 Billion |
| Forecasted Market Value (USD) by 2028 | $2.2 Billion |
| Compound Annual Growth Rate | 16.6% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Increasing Awareness About Passenger and Vehicle Safety
- Demand for Enhanced In-Vehicle Experience
- Rising Popularity of Connected Vehicles
- Steady Growth in Demand for Luxury and High-End Segment Cars, Mainly in Emerging Markets
- Integration of Advanced Technologies
- Restraints
- Requirement for More Space in Automotive Cockpits
- Lack of Luminance and High Power Consumption
- Opportunities
- Increasing Demand for Semi-Autonomous Vehicles
- Rising Penetration of Electric Vehicles
- Introduction of Portable HUDs at Lower Prices in Low and Middle-Segment Cars
- Development of Comprehensive Voice-Operated HUD Systems
- Increasing Investment in Automotive HUDs
- Challenges
- High Cost of Advanced HUD Systems
- Requirement for Regular Updates
Patent Analysis
- Introduction
- Legal Status of Patents (2012-2022)
- Top Patent Applicants (2012-2022)
Case Study Analysis
- Thermal Solution by BOYD for Automotive HUDs
- Compact HUD Systems by Visteon Corporation
- Complete Test Systems for HUD Windshields by CP Industries and Radiant
- Proof of Concept (PoC) Development of Laser-based & Gesture-Controlled HUDs by Embitel
Technological Overview
- Current Sensor Technologies Used in HUDs
- Radar
- LiDAR
- Image Sensors
- Technological Advancements in Near Future
- Adoption of Connected Vehicles
Emerging Trends
- Motorcycle Windshield HUDs
- Motorcycle Helmet HUDs
- AR HUDs
- Development of Conventional and AR HUDs, 2017-2023
- Technology Roadmap for Automotive HUDs
Companies Profiled
- Continental AG
- CY Vision
- DENSO Corporation
- Envisics
- E-Lead Electronic Co. Ltd.
- Foryou Corporation
- Futurus Technology Co. Ltd.
- Huawei Technologies Co. Ltd.
- Hyundai Mobis
- Harman International
- HUDway, LLC
- HUDly
- Jiangsu Zejing Automotive Electronics Co. Ltd.
- LG Electronics
- Maxell
- Nippon Seiki Co. Ltd.
- Panasonic Holdings Corporation
- Visteon Corporation
- Valeo
- Wayray AG
- Yazaki Corporation
- Zhejiang Crystal-Optech Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ljpqwn
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