According to the latest report by IMARC Group, titled “Head-Up Display Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global head-up display market size reached US$ 1,120 Million in 2019. A head-up display (HUD) is a transparent display that exhibits data and visual elements without the requirement of the user to look away from their usual viewpoint. It mainly comprises three components, which include a combiner, projector unit and video generation computer. HUDs provide easy access to relevant information, such as speed, warning signals and indicators for navigation, without disturbing the concentration of the driver. Designed initially for military vehicles, HUDs are nowadays widely equipped in passenger and commercial vehicles to fulfill the safety, comfort and entertainment needs of the users.
Global Head-Up Display Market Trends:
According to the ‘Global Status Report on Road Safety 2018’ by the World Health Organization (WHO), around 1.35 Million people, especially among the age of 5-29 years, die annually due to road accidents. Consequently, there is a growing focus on the installation of active safety systems like HUDs in automobiles across the globe. Moreover, on account of rapid urbanization and inflating income levels, there is a rise in the demand for luxury and high-end cars. This, in confluence, with the boosting sales of automobiles worldwide, is strengthening the HUD market growth. Apart from this, some of the leading vendors are increasing their focus on research and development (R&D) activities to introduce innovative products. Similarly, car manufacturers are also collaborating with HUD market players to launch HUDs in the middle car segment. On account of these factors, the market value is projected to reach US$ 3,897 Million by 2025, expanding at a CAGR of 22.9% during the forecast period (2020-2025).
- Based on the product type, the market has been segmented into the windshield, combiner glass and collision warning only HUDs.
- The market has been analyzed on the basis of the conventional and augmented reality-based HUDs.
- On the basis of the technology, the market has been bifurcated into CRT based and digital HUDs (optical waveguide, digital micromirror device, light-emitting diode and others).
- Based on the application, the market has been divided into aviation and automotive.
- Region-wise, the market has been classified into Asia Pacific (China, Japan, India, South Korea and others); North America (the United States and Canada); Europe (the United Kingdom, Germany, France, Italy, Spain and others); Latin America (Brazil, Mexico and others); and Middle East and Africa (the United Arab Emirates, Turkey, Saudi Arabia, Iran and others).
The competitive landscape of the market has been examined, with some of the key players being Nippon Seiki Co., Ltd., Robert Bosch GmbH, Continental AG, Visteon Corporation, Panasonic Corporation, Thales Group, MicroVision, Inc., DENSO Corporation, Garmin Ltd. and BAE Systems Plc.
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