Newark, Aug. 19, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global automotive HUD market is expected to reach USD 3.90 billion by 2033, at a CAGR of 12.2% during the forecast period 2024-2033. Asia Pacific region emerged as the largest market for the global automotive HUD market, with a 39.2% share of the market revenue in 2023. The Asia Pacific currently dominates the automotive HUD market due to the rising concern regarding the safety of the passengers in the vehicles and increasing demand for premium vehicles with safety features in them.
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Leading companies in the industry include Bosch, Continental, Visteon, Pioneer, Alps Alpine, Toshiba, Nippon Seiki, Yazaki, Panasonic, and Denso, among others which are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The technology type segment is divided into augmented reality HUD and conventional HUD. The conventional HUD segment dominated the market with a market share of around 68% in 2023. The HUD type segment is divided into combiner & windshield. In 2023, the windshield segment dominated the market, accounting for around 62% of global revenue. 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 42% of global revenue in 2023. Because of the growing demand for technologically advanced vehicles with built-in safety features at an affordable price, the need for a mid-segment PC class is increasing rapidly. Also, the increasing demand for convenience and premium features in vehicles pushes manufacturers to develop mid-segment vehicles with HUD features.
The global automotive head-up display (HUD) market is set to experience substantial growth over the next few years, driven by the increasing adoption of advanced driver assistance systems (ADAS) and the rising demand for enhanced safety features in vehicles. With projections indicating a robust expansion, key players in the automotive industry are focusing on developing innovative HUD solutions that provide drivers with crucial information in real-time, directly on their windshields.
Automotive HUDs have evolved from luxury vehicle features to essential components in modern cars, offering improved safety and convenience. The integration of augmented reality (AR) with HUD technology is further transforming the market, providing drivers with more intuitive and immersive experiences. These advancements are expected to drive market growth, as consumers increasingly prioritize safety and technology in their vehicle purchase decisions.
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Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 12.2% |
| 2033 Value Projection | USD 3.90 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Technology, HUD Type, PC Class, Sales Channel |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Automotive HUD Market Growth Drivers | Portable HUDs at lower prices in the middle- and lower-class vehicles |
According to World Health Organization, almost 1.8 million deaths happen annually because of road traffic injuries. More than 80% of these deaths occur in lower or middle countries. The rising number of vehicles and lack of proper regulation related to traffic and roads is expected to increase the number of accidents. HUDs are a way to minimize those accidents and protect people's lives driving vehicles. HUDs can provide all the essential information regarding the road and vehicle to the driver on the windshield. This will reduce the constant readjustment of vision while driving and reading instructions.
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