Portland, OR, Oct. 13, 2020 (GLOBE NEWSWIRE) -- As per the report, the global head-up display (HUD) industry was pegged at $6.07 billion in 2019, and is expected to reach $19.11 billion by 2027, growing at a 20.1% CAGR from 2020 to 2027. The report provides a thorough analysis of changing market trends, key investment pockets, major segments, value chains, and leading market players.
Growing demand for high-tech vehicles, rise in penetration rate of head-up displays in the aerospace and defense sector, demand for safety features in automobiles, and challenging driving conditions propel the growth of the global head-up display market. On the other hand, its high cost impedes the market growth. Moreover, advancements in AR technology and emergence of new applications are expected to offer multiple opportunities to the market players.
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Covid-19 scenario:
- The lockdown imposed due to the pandemic has stopped the manufacturing of HUD. In addition, the demand for HUD and other displays have been declined as well.
- The supply chain disruptions and restrictions over imports and exports are other reasons responsible for descending the market growth.
- Moreover, the government bodies have initiated certain relaxations on the existing regulations, thereby giving a nod to restart manufacturing processes.
The global head-up display market is segmented by type, technology, end user, sales channel, and region. Based on type, the combiner-based segment held the largest share in 2019, accounting for more than half of the global head-up display market. On the other hand, the windshield-based segment is expected to register the highest CAGR of 22.8% from 2020 to 2027.
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Based on end user, the aerospace segment is expected to portray the highest CAGR of 24.2% during the forecast period. Furthermore, the segment is anticipated to dominate the market throughout the forecast period. However, the automotive segment held the largest share in 2019, contributing to around three-fourths of the global head-up display market.
By region, the global head-up display market across Europe held the largest share in 2019, accounting for nearly two-fifths of the market. In addition, the region is expected to manifest the highest CAGR of 22.0% during the forecast period. The report also studies regions including Asia-Pacific, LAMEA, and North America.
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Key market players in the report include Continental AG, BAE Systems, Denso Corporation, Elbit Systems Ltd., Nippon Seiki Co., Ltd., Panasonic Corporation, Rockwell Collins, STMicroelectronics, Texas Instruments Incorporate, and Visteon Corporation.
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