Rise in demand for
high-tech vehicles, higher penetration rate of head-up displays in the
aerospace and defense sector, demand for safety features in automobiles, and
challenging driving conditions drive the growth of the global head-up display
market. However, its high cost hampers the market. On the contrary,
advancements in AR technology and emergence of new applications are expected to
create lucrative opportunities for the market players.
As
per the report, the global head-up display
(HUD) industry was pegged
at $6.07 billion in 2019, and
is expected to reach $19.11
billion by 2027, growing at a 20.1% CAGR from 2020 to
2027.
COVID-19
scenario:
·
As the majority of countries are
still in lockdown, the demand for HUD and other display technologies is
decreased.
·
Most of the manufacturing
companies are not working up to their full potential, which negatively impacts
the market.
·
Most of the raw materials and raw
materials for HUD are manufactured in China. However, the ban on
import-export with China imposed
by China have
hampered the market.
The
combiner-based segment dominated the market
By type, the combiner-based segment held the largest share in
2019, accounting for more than half of the global head-up display market, owing
to higher penetration rate of head-up displays in the aerospace and defense
sector. However, the windshield-based segment is expected to register the
highest CAGR of 22.8% from 2020 to 2027, due to the development of augmented
reality technology.
Read Full News: https://www.alliedmarketresearch.com/head-up-display-market
The aerospace
segment to manifest the highest CAGR through 2027
By end user, the aerospace segment is expected to portray the
highest CAGR of 24.2% during the forecast period, owing to increasing adoption
of head-up displays by commercial and business aircraft. However, the automotive segment held the largest share in
2019, contributing to around three-fourths of the global head-up display
market, enhanced safety features of premium vehicles.
Europe, followed by North America,
held the lion's share
By region, the global head-up display market across Europe,
followed by North
America, held the lion's share in 2019, accounting for nearly
two-fifths of the market. Moreover, the region is expected to manifest the
highest CAGR of 22.0% during the forecast period, owing to presence of a
significant number of OEMs.
Major market
players
·
BAE Systems
·
Continental AG
·
Denso Corporation
·
Elbit Systems Ltd.
·
Nippon Seiki Co., Ltd.
·
Panasonic Corporation
·
Rockwell Collins
·
STMicroelectronics
·
Texas Instruments Incorporated
Visteon Corporation
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