Newark, May 02, 2022 (GLOBE NEWSWIRE) -- The report published by The Brainy Insights shows that the global automotive HUD market is expected to grow from USD 1.6 billion in 2021 to USD 18.17 billion by 2030, at a CAGR of 31% during the forecast period 2022-2030.
Automotive HUD is a transparent surface that projects brightly lit images and videos. The main aim of the HUDs is to help the user constantly look on the road to the infotainment dashboard for information regarding the vehicle while driving.
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The automotive HUD market is being driven by the rising population with challenging driving conditions and an increasing number of vehicles on the road. The enhanced safety features offered by the head-up display market are expected to boost the market's growth. The cost of raw materials and the final product is likely to restrain the market. Advanced features of HUDs such as augmented reality functions are expensive and can only be used in luxury and premium vehicles. Manufacturers are finding it difficult in incorporating these features in mid-segment and economy vehicles. Reduced demand for luxury and premium vehicles is declining post the Covid-19 pandemic, hindering the growth of the automotive HUDs. The advent of new technologies in the manufacturing of HUDs and the development of connected cars at lower prices is providing lucrative opportunities for the market's growth. The rising demand for safety in most vehicles also provides opportunities for the growth of the market. The HUDs require more significant space in the cockpit for installing advanced HUDs such as Augmented reality HUDs which makes driving more comfortable and safer. The AR HUDs superimpose the exterior view of the traffic conditions with virtual information in front of the vehicle for the driver to focus on the driving.
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But the need for substantial space in the cockpit is a challenge for the OEMs to overcome to boost the market growth. The hardware associated with the windshield augmented reality HUDs require greater cockpit space in the vehicles, which requires the redesigning of the vehicles and is a tremendous challenge for the manufacturers.
Key players operating in the global automotive HUD market are:
● Bosch
● Continental
● Denso
● Visteon
● Nippon Seiki
● Panasonic
● Pioneer
● Yazaki
● Toshiba
● Alps Alpine
To enhance their market position in the global automotive HUD market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
● In March 2020, Continental, based in Japan, launched its next-generation display with autostereoscopic 3D technology equipped in HMC Genesis GV80 high-line variant. The display displays a stop sign warning in the driver’s line of sight.
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The conventional HUD segment dominated the market with around 72% in 2021
The technology type segment is divided into augmented reality HUD and conventional HUD. The traditional HUD segment dominated the market, with a market share of around 72% in 2021. This growth is attributed to the urge to keep the safety of drivers and passengers as the prime importance with cost-effective products. Conventional HUDs were previously used in military and aviation applications to display radar information, real-time position, flight position, acceleration, and the path of the flight, which helps pilots take instant action. Conventional HUDs in vehicles display information such as speed, engine details, and GPS information.
The windshield segment dominated the market, with the largest market share of 56.3% in 2021.
The HUD type segment is divided into combiner & windshield. In 2021, the windshield segment dominated the market, accounting for around 63% of global revenue. This growth can be credited to developing new technologies in making the windshield HUDs cost-effective, and integrating it with advanced driver assistance systems in autonomous vehicles is expected to boost the segmental growth.
The mid-segment dominated the market, with the largest market share of 43% in 2021.
The PC class segment is divided into the economy, mid-segment, and luxury. The mid-segment PC class segment dominated the market with a market share of around 43% of global revenue in 2021. Mid-segment passenger class vehicles can be equipped with AR HUDs, which helps provide information regarding the road to the driver in 3D, which allows them to avoid traffic and accidents while navigating.
Regional Segment Analysis of the Automotive HUD Market
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, U.K., Italy, Spain, & the Rest of Europe)
● Asia-Pacific (China, Japan, India, & the Rest of Asia Pacific)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of the Middle East and Africa)
Among all regions, the Asia Pacific region emerged as the largest market for the global automotive HUD market, with around 39% in 2021. Asia Pacific leads the automotive HUD market, owing to the presence of OEMs in the Asia Pacific countries such as China, Japan, and India. The manufacturers in this region are focusing on developing technologically advanced HUDs which can help provide the required information to the driver in one place and avoid accidents that happen because of the frequent change in vision.
About the report:
The global automotive HUD market is analyzed based on value (USD Billion). All the segments have been analyzed globally, regional and country basis. The study includes the analysis of more than 30 countries for each piece. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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