Yahoo Finance At a CAGR of 21.3% The Global Head-up Display Market Anticipated to Hit US $6.4 Bn by 2027
Chicago, Feb. 01, 2023 (GLOBE NEWSWIRE) -- The report "Head-up Display Market by Type (Conventional Head-up Display and Augmented Reality (AR) Based Head-up Display), Application, Components (Video Generators, Projectors/Projection Units, Display Units, Software) and Region - Global Forecast to 2027", size is projected to grow from USD 2.4 billion in 2022 to USD 6.4 billion by 2027 it is expected to grow at a CAGR of 21.3% from 2022 to 2027.
The key factors contributing to the growth of the head-up display market include increasing awareness about passenger and vehicle safety, growing adoption of AR based head-up display etc. However, space constraint in automotive cockpits and high luminace, brightness and power requirements is hindering the growth of head-up display market. Impact of COVID-19 on supply chain and the global chip shortage possesses a huge challenge to the industry. However, growing demand for electric and semi-autonomous vehicles is the biggest opportunity in the market space with Europe having the highest market share and North America the highest CAGR for the forecast period.
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Scope of the Report
Report Metric | Details |
Market size available for years | 2018–2027 |
Base year considered | 2021 |
Forecast period | 2022–2027 |
Forecast units | Value (USD Million) and Volume (Thousand Units) |
Segments covered | By Component, By Type, By Application, By Region |
Geographies covered | Asia Pacific, Europe, North America and Rest of World |
Companies covered | The key players operating in the head-up display market are Nippon Seiki (Japan), Continental (Germany), Visteon (US), Denso (Japan), Bosch (Germany), Pioneer (Japan), BAE Systems (UK), and Yazaki Corporation (Japan). |
Browse in-depth TOC on " Head-up Display Market”
154 – Tables
68 – Figures
221 – Pages
Nippon Seiki holds a strong product portfolio in the head-up display market. The company estimates that its order intake will be twice the existing capacity by 2030 as the company is focusing on increasing its production capacity by constructing a new facility. The company has an R&D center in Japan and 28 manufacturing plants spread across the globe. It has a strong foothold in 12 countries in Asia, the Americas, and Europe and subsidiaries in China, Japan, the US, and Brazil. The company also focuses on environmental aspects by working on reducing power consumption.
Continental is among the key players in the head-up display market. With its constant innovations, quality products, and excellent customer service, the company is one of the leading HUD providers across the globe. The company gives importance to technological equilibrium with the combination of established solutions and pioneering technologies. It is focusing on the interior business, which includes HUDs, and is increasing the capacity of the division.
Bosch has been working closely on environmental techniques. Bosch, with its more than 400 locations, has been carbon neutral since February 2020. The company has achieved this goal way ahead of schedule and has also made significant investments for combating climate change. Bosch has been increasing its R&D workforce year on year. For example, 72,000 R&D associates worked across the globe in 126 locations in 2019; in 2020, this number increased to 73,000 in 129 locations.
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Opportunity: Growing demand for semi-autonomous and electric vehicles
The global demand for semi-autonomous and electric vehicles has increased significantly in the last few years. The increased adoption of these vehicles is accelerating the demand for head-up displays. Semi-autonomous vehicles can sense their environment and navigate to the destination with the partial interference of humans. They can be operated through voice commands. These vehicles are primarily used to provide enhanced safety and convenience to drivers. Semi-autonomous vehicles are equipped with advanced functions such as park assistance, forward collision avoidance, and advanced cruise control. The head-up displays deployed in semi-autonomous vehicles display these features on windshields in the line of sight of drivers.
Challenge: Availability of laser-based volumetric displays as alternatives to head-up displays
Laser-based volumetric displays are key substitutes for head-up displays. Volumetric head-up displays represent information in a volumetric aspect. With the help of lasers, images are projected on windshields to give the illusion of depth. During the night and harsh driving conditions such as fog, low-light vision, and heavy rains, laser-based volumetric displays ensure enhanced safety and traveling information to drivers. In the automotive industry, volumetric head-up displays use laser rays to display images on windshields. In the aviation sector, volumetric displays play an important role in air traffic control.
Recent Developments
In January 2022, Panasonic unveiled the AR-HUD 2.0, the first product to include a new patented eye-tracking system (ETS), enhancing the AR experience. This HUD also includes AI-powered navigation software with 3D AR overlays, icons, and mappings.
In January 2022, Visteon delivers a high-quality intelligent cockpit experience for conventional and electric vehicles. This includes artificial intelligence-based speech recognition and camera domain integration.
In October 2021, BAE systems delivers 1.6-megapixel hawk eye sensor is a major development for targeting and surveillance applications optimally used for battery-powered soldier systems. It has high-performance imaging capabilities in all lighting conditions.
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Virtual Reality Market by Offering (Hardware and Software), Technology, Device Type (Head-Mounted Display, Gesture-Tracking Device), Application (Consumer, Commercial, Enterprise, Healthcare) and Geography - Global Forecast to 2025
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