Head-up Display (HUD) Market Size, Outlook | Global Opportunity Analysis 2020-2028
The global head-up display (HUD) market size is expected to reach USD 9.72 Billion at a steady CAGR of 28.4% in 2028, according to latest analysis by Emergen Research. Some key factors driving market revenue growth include increasing number of vehicles on the road, rising disposable income and spending capacity, rising focus on driver and passenger safety, and growing novelty of advanced driver assist technologies and solutions in the market. Improved safety provided by head-up displays will continue to propel growth of the market going ahead owing to increasing demand for more efficient safety and driver and pilot assist technologies in vehicles and aircraft.
Head-up displays are also transforming the retail sector, especially in small stores where there is limited space to showcase all the products. For example, car dealership does not have to showcase latest car models in store, but customers can view them virtually, configure them according to their requirement, and get an idea of their purchase.
Some Key Highlights From the Report
- AR-based HUD enables vehicles to communicate more information than a traditional dashboard. For example, AR can help indicate how the vehicle interprets the surroundings, senses danger, communicates with other technologies, plans routes, and triggers Advanced Driver-Assistance Systems (ADAS).
- Display unit segment is expected to register largest revenue share during the forecast period. Liquid Crystal Display (LCD) delivers benefits of bright vibrant images onscreen, and allows the realization of multi-colors in head-up displays. The high luminescence of head-up displays offer bright raster images.
- Automotive segment accounted for largest revenue share in 2020. Rising concerns regarding safety of driver and passenger is fueling adoption of head-up displays in vehicles.
- Asia Pacific market is expected to register the fastest revenue growth rate during the forecast period due to improving standard of living and rise in demand for luxury cars. Favorable government policies and easy availability of low-cost labor which helps in reducing manufacturing cost of head-up displays and result in availability of this solution at lower cost is expected to continue to drive growth of the market in the region.
The report on strategic initiatives taken by the companies such as mergers and acquisitions, product launches and brand promotions, collaborations and joint ventures, agreements and partnerships, and government deals, among others. The strategic initiatives offer the companies a chance to expand their foothold in the industry and gain a significant global position.
Key players in the market include Nippon Seiki Co., Ltd., Denso Corporation, BAE Systems, Bosch, Pioneer Corporation, Garmin Ltd., Continental AG, Yazaki, Visteon Corporation, and Panasonic Corporation.
The infotainment system displays details such as turn-by-turn navigation, current speed, blind spot warnings, and posts road signs in driver’s field of view. Head-up display is also used to enhance situational awareness of pilots during flights in limited visibility in the vicinity of visible terrain, ground-based obstacles, water, or other aircraft. HUD is particularly helpful in approach and landing phases of flights, during which most aircraft accident take place. HUD can help the pilot in visualizing any gap that may exist between the required trajectory to safe landing and projection of current aircraft status by displaying the projected touchdown point.