The automotive head-up display market is projected to grow at a rate of 27.4% in terms of value, from USD 1,389.7 Million in 2019 to reach USD 9,881.1
NEW YORK, NY, UNITED STATES, December 24, 2021 /EINPresswire.com/ — The global automotive head-up display market is expected to reach USD 9,881.1 Million by 2027, according to a new report by Reports and Data. The market for automotive head-up display (HUD) is experiencing high demand attributed to factors such as rising incidences of road accidents, growing cognizance about vehicle and passenger safety, rising demand for autonomous vehicles, growing demand for advanced 3D AR head-up display, and growing investment on luxury cars, among others.
Head-up displays (HUDs) are a significant innovation in the ADAS (advanced driver assistance systems) industry. An automotive head-up display is beneficial in maintaining the driver’s attention on the road, safely conveying speed, warning signals comprising obstacle detection, intersection collision warning, lane departure warning, lane change assistance, road departure warning, rollover warning, rear impact warning, and forward-collision warning, and other critical automotive and navigation information directly on the windshield in the line of sight of the driver. For instance, Jaguar Land Rover (JLR) and researchers from the University of Cambridge are collaborating to develop an innovative 3D head-up display with the ability to project real-time safety information and cautions directly in driver’s front while driving.
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Key participants include Continental AG, Elbit Systems, YAZAKI Corporation, Thales Group, BAE Systems, Denso Corporation, Visteon Corporation, Robert Bosch LLC, Panasonic, and Rockwell Collins, among others.
Increased investment and funding in the research and development of head-up display technology is a significant factor in driving the market growth. In 2018, WayRay, a firm engaged in the development of holographic AR (augmented reality) technology and hardware, implemented in automotive head-up displays to project information into the field of vision of the driver, has raised a funding of USD 80.0 million, a Series C spearheaded by Porsche, along with Hyundai Motor. Besides, prior investors Alibaba Group and JVCKENWOOD, and numerous sovereign wealth funds participate in the funding process.
The COVID-19 pandemic has a substantial influence automotive industry, which, in turn, has led to reduced demand for automotive head-up displays. Demand for the product is suffering severe shocks as worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global automotive head-up display sector into an oversupply situation. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.
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Further key findings from the report suggest
Conventional head-up display (HUD) for automotive dominated the market in 2019, owing to rising deployment by the OEMs, reduced price of installation compared to AR HUD, and a growing emphasis on the safety of the passengers and automotive.
Combiner head-up display for automotive is likely to grow at a faster rate in the forecast period, as the Combiner product type is smaller in size and considerably more cost-effective as compared to the windshield.
OEMs held a larger market share in 2019 attributed to growing investment by automotive OEMs in luxury vehicles and the development of advanced head-up displays and engaging in strategic alliances like partnerships and collaborations.
Europe, in terms of revenue, contributed to the largest market share in 2019, owing to the growing need to comply with safety standards to mitigate the risk of accidents during collisions. Moreover, rising awareness to improve automotive safety and growing investment in the R&D to deliver an innovative solution to road safety are causative of the growth of the market in the region.
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For the purpose of this report, Reports and Data have segmented the global automotive head-up display market on the basis of product type, technology, vehicle type, sales channel, and region:
Product Type Outlook (Volume, Million Units; Revenue, USD Million; 2017-2027)
Windshield Head-Up Display
Combiner Head-UP Display
Technology Outlook (Volume, Million Units; Revenue, USD Million; 2017-2027)
Conventional Head-Up Display
Augmented Reality Head-Up Display
Vehicle Type Outlook (Volume, Million Units; Revenue, USD Million; 2017-2027)
Sales Channel Outlook (Volume, Million Units; Revenue, USD Million; 2017-2027)
Regional Outlook (Volume, Million Units; Revenue, USD Million; 2017-2027)
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Rest of the Middle East and Africa
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