Automotive Head Up Display Market Size Projected to Generate $10,382.1 Mn by 2031Download Sample Reports Overview
The Global Automotive Head Up Display Market Size is predicted to be valued at $10,382.1 million by 2031, surging from $1,024.0 million in 2021, at a CAGR of 26.7%.
Impact Analysis of COVID-19 on the Automotive Head Up Display Market
The COVID-19 outbreak severely hampered global trade, leading to a negative impact on the global economy. To control the spread of the virus, strict measures including lockdowns, social distancing, quarantine, border closures, travel bans, and others had been implemented by authorities around the world. Many OEMs had delayed or completely halted their production activities on account of labor shortages, high raw material prices as well as supply chain disruption. All these factors created a negative impact on the automotive head up display market share. During the first two quarters of 2020, a steep decline in sales of all categories of vehicles was reported worldwide.
The post-COVID-19 scenario of the automotive head up display market growth is promising as countries have eased strict lockdowns. Over the last several months, the automotive industry has witnessed remarkable growth in terms of sales of vehicles. The industry has rebounded enormously to showcase year-over-year growth in new-vehicle sales across the world.
Global Automotive Head Up Display Market Analysis
The automotive head up display presents important information such as vehicle speed, possible collision, direction, crosswalks, curves, turns, and others in a manner that does not require drivers to take their eyes off the road to see this information. Numerous OEMs are increasing their emphasis on the development of cutting-edge augmented reality head up displays. This system is anticipated to deliver real-time information on the objects on the road. The rise in sales of high-end cars and EVs worldwide is anticipated to boost the demand for automotive head up displays. Currently, automotive HUDs are mostly installed in expensive cars. The integration of HUDs in vehicles increases the safety and in-car experience of drivers as well as passengers. The rise in road safety concerns among consumers increases the need for HUDs. In addition, the growing adoption of digital technologies in the automotive sector is further supplementing the growth of the automotive head up display market growth.
The high cost of HUDs and less awareness among the population in developing countries are the major challenges in the adoption of automotive head up displays. Moreover, it is also challenging to get a large viewing area and the optimal positioning on the windshield in cars using these displays. This factor is also predicted to hamper the automotive head up display market size during the forecast period.
Augmented Reality (AR) HUDs are expected to offer lucrative opportunities during the forecast period. There are several limitations with conventional head up displays. In addition, conventional displays do not offer real-time human-machine interfaces (HMIs). To overcome these challenges, there has been a growing focus by OEMs on the development of AR head up displays. AR displays can project images that can interact with the FOV, overlaying information directly onto the real world.
Global Automotive Head Up Display Market, Segmentation
The automotive head up display market is segmented on the basis of HUD type, technology, car type, sales channel, and region.
The HUD type segment is further classified into windshield HUD and combiner HUD. Among these, the windshield HUD sub-segment accounted for the largest market share in 2021. Windshield HUDs are ideal for cars with limited installation space such as sports cars. It offers excellent display quality despite a compact design. This technology does not need any additional combiner and projects critical information via virtual images directly on the screen of the windscreen.
The technology segment is further divided into augmented reality HUD and conventional HUD. Among these, the augmented reality HUD sub-segment is anticipated to be the fastest growing during the forecast period. Augmented reality (AR) HUDs offer excellent in-car experience along with safety to the driver. These HUDs augment real-world objects and reduce distraction while driving. Compared to conventional HUDs, the graphic projection is enhanced with a layer of data right on the road in front of the vehicle. The augmented reality HUD is one of the major technologies for autonomous driving cars. The AR HUDs use AI technology to highlight and spot pedestrians, crosswalks, turns, lane edges, and other important information.
The car type segment is further classified into high-end cars, mid-segment cars, and economy cars. Among these, the high-end cars sub-segment held the largest automotive head up display market share in 2021. Automotive head up displays is the most prevalent in luxury cars. Heads up displays are installed within the vehicle's dash and are developed to project essential information such as vehicle speed, direction, probable collision, and others through the windshield onto the road ahead. Various models of Land Rover, Cadillac, Rolls-Royce, BMW, Genesis, Lincoln, Audi, Lexus, Buick, Audi, and Mercedes-Benz, offer HUDs in their high-end cars.
The sales channel segment is further divided into original equipment manufacturer (OEM) and aftermarket. Among these, the original equipment manufacturer (OEM) sub-segment accounted for the largest market share in 2021. Automotive HUDs can be incorporated into a vehicle by original equipment manufacturers (OEMs) during the production of the vehicle. Every OEM's HUD differs by dimension type, technology, vehicle, and other factors. All major OEMs are designing HUD displays that represent the next generation of infotainment in cars.
The automotive head up display market in Asia-Pacific is projected to be the fastest growing during the forecast period. The automotive industry in Asia-Pacific is witnessing substantial digital transformation owing to technological innovations. In addition, the region reports the highest sales of cars across the world due to the mass consumer base and increase in per capita disposable income. These factors are expected to boost the demand for automotive head up displays in Asia-Pacific and drive the regional automotive head up display market growth during the forecast period.
Key Players in the Global Automotive Head Up Display Market
Some of the leading automotive head up display market analysis are
- Nippon Seiki Co. Ltd.
- Visteon Corporation
- FIC Group
In 2022, Continental AG developed a head-up display (HUD) for trams. The display solutions' objective is to make intra-urban traffic safer by assuring that tram drivers can focus their full attention on the road.