Newark, NJ, May 17, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global Head-up display market is expected to grow from USD 1.68 billion in 2019 to USD 13.69 billion by 2027, at a CAGR of 29.9% during the forecast period 2020-2027. North America holds the largest market share in the HUD market. This is because of the rapidly increasing demand of HUD in automobiles, digitisation into vehicles, growing safety concerns among the consumers coupled with strict government laws, and presence of dominant players who have invested high amount in the R&D in the USA. Europe is anticipated to be the market with the highest growth potential, owing to increasing awareness and consumers adapting HUD for its features. Also, the majority of road accidents happen due to driver distractions, and HUD reduces the driver distraction while providing essential information to the drivers. OEMs are providing HUD as standard feature in even economy cars now. This is another factor fuelling the growth of this market in this region.
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Some of the key players in the Head-up display market are Bosch, Garmin Ltd, Honeywell International, Esterline Technologies Corporation, Continental, Denso Corporation, Visteon Corporation, Thales Group, Nippon Seiki, Bae Systems, Pioneer Corporation, Delphi Technologies, Hudway, Exploride, Holoeye Systems, Panasonic Corporation, Elbit Systems, and Navdy.
Based on the type, the HUD market is segmented into conventional and AR-based HUD. The conventional HUDs account for the largest market share owing to its increasing use in automobiles, and these were earlier used in aircraft. By the application segment, the HUD market is divided into aviation, automobile, wearables, and others. The automobile segment holds the largest market share, and it is also expected to hold this position in the future owing to its high demand in economical and luxury vehicles as a secondary display. Furthermore, the automobile segment is divided into luxury cars, sports cars, and economy and mid-sized cars.
In August 2019, Jaguar Land Rover (J-LR) announced that it is developing next-generation HUD technology which can allow passengers to stream 3D movies directly from their seats.
HUDs are increasing their share in economy cars too.
In 2018, Toyota launched Camry with a large windshield HUD, and It has also made windshield HUD as a standard feature for its most successful economy car Prius.
In 2019 KIA the South Korean manufacturer entered the Indian automobile market with mid-segment SUV Seltos. With Seltos, KIA introduced HUD in this segment in India.
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About the report:
The global Head-up display market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of 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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