DUBLIN, Jan. 11, 2024 /PRNewswire/ — The “Global Head-Up Display Market by Type (Conventional Head-Up Displays, AR-based Head-Up Displays), Component (Video Generators, Projectors/Projection Units, Display Units), Technology (CRT-based HUD, Digital HUD), Application & Region – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global head-up display market is expected to reach USD 3.3 billion by 2028 from USD 1.5 billion in 2023, at a CAGR of 16.7% during the 2023-2028 period.
With rising instances of road traffic accidents leading to significant mortalities and the economic burden attributed to these accidents, the need for innovative safety solutions in the automotive industry has never been more pressing. Head-up displays (HUDs) have emerged as a crucial technology in mitigating driver distractions and enhancing safety, thus driving demand in the market. The incorporation of head-up displays enables crucial data, such as speed and GPS navigation, to be presented within the driver’s line of sight, reducing the need to shift focus away from the road.
The insurance sector’s data supports this shift towards advanced safety mechanisms like HUDs, showing an improvement in the mileage-death rate, reinforcing the positive impact of HUD inclusion in vehicles. Windshield-based conventional head-up displays lead the charge in this market segment, as the technology sees increased incorporation in high-end vehicles and strives towards standardization in passenger cars.
Europe Leads Head-Up Display Market with Significant Innovation and Adoption in Luxury, Premium Vehicles
During the forecast period, Europe is poised to maintain its position as the dominant market for head-up displays, backed by its strong luxury and premium automotive manufacturing base. The region’s enduring reputation for high-quality craftsmanship and luxury car production, combined with evolving tech capabilities in civil aviation, champions the demand for HUDs in the European sector.
European automotive giants and aviation manufacturers have been influential in bolstering the head-up display market within the continent. Adoption of HUDs in premium vehicles, as well as integration into the fleet of leading European airlines, signifies the region’s commitment to enhancing safety and efficiency through advanced technologies.
Civil Aviation and Display Units Components Witness Highest CAGR
The civil aviation sector is expected to grow at the highest CAGR during the forecast period, as HUDs become more prevalent in civil aircraft, facilitating safer navigation and flight operation. In alignment with aviation advancements, display unit components in HUDs are also anticipated to witness substantial CAGR growth. These components are integral in displaying important visuals, and with various emerging technologies like Digital Micromirror Device (DMD), Liquid Crystal Display (LCD), and Liquid Crystal on Silicon (LCOS), the enhancement in visual clarity and projection capabilities has been significant.
Market Dynamics Accentuating Head-Up Display Adoption
- Improved driver comfort and safety through the seamless integration of satellite navigation with head-up displays.
- Expanding demand for semi-autonomous and electric vehicles equipped with advanced displays.
- Continuous product innovation driven by intense R&D in head-up display technologies.
Digital trends in HUD technology are carving a niche in the automotive sphere, with companies innovating to optimize driver experience and interface design. This report offers key insights into internal market dynamics, growth factors, and barriers, accompanied by detailed analysis of market segmentation and regional diversification.
Key Topics Covered:
- Recession Impact
- Head-Up Display Market: Impact of Recession
- Conventional Head-Up Display Segment to Hold Larger Market Share in 2028
- Combiner-based Conventional Head-Up Display Segment to Register Higher CAGR During Forecast Period
- Projectors/Projection Units Component to Account for Largest Market Share in 2028
- Europe to Hold Largest Share of Head-Up Display Market During Forecast Period
- Attractive Opportunities for Players in Head-Up Display Market – Rise in Global Demand for Semi-Autonomous and Electric Vehicles to Drive Growth of Head-Up Display Market
- Head-Up Display Market, by Application – Automotive Segment to Hold Larger Market Share in 2023
- Head-Up Display Market for Aviation, by Sub-Application – Civil Aviation Segment to Register Higher CAGR During Forecast Period
- Head-Up Display Market for Automotive, by Sub-Application – Commercial Vehicles Segment to Register Higher CAGR During Forecast Period
- Head-Up Display Market, by Country – Canada to Exhibit Highest CAGR in Head-Up Display Market During Forecast Period
- Rising Awareness Regarding Safety of Passengers and Vehicles
- Increasing Demand for Advanced Driver Assistance Systems (ADAS)
- Improved Ease and Comfort Provided by Fusion of Satellite Navigation Technology and Head-Up Displays
- Rising Desire for Enhancing In-Vehicle Experience
- Rising Demand for Connected Vehicles Worldwide
- Growing Interest in Technologically Advanced Head-Up Displays
- Increasing Adoption of AR-based Head-Up Displays
- Spatial Limitations in Vehicle Cockpits
- Demand for High Luminance, Power, and Brightness in Head-Up Displays
- Misinterpretation of Symbols Displayed in Head-Up Displays
- Complex Installation and Maintenance
- Increasing Demand for Semi-Autonomous and Electric Vehicles
- Utilizing Head-Up Displays in Sports for Enhanced Performance
- Development of Displays That Operate Without Conventional Screens
- Improved Driving Experiences Facilitated by AR-based Head-Up Displays
- Rollout of Cost-Effective Portable HUDs Within Automotive Market’s Affordable Low and Middle Segments
- Regulatory Challenges
- Limited Field of View
- High Expenses Linked to Advanced Head-Up Displays
- Presence of Laser-based Volumetric Displays as Substitutes for Head-Up Displays
Head-Up Display Market: Case Studies
- Panasonic’s Large-Screen WS Hud Incorporated in Nissan Ariya
- Garmin Collaborated with Ford Motors to Integrate Its Navigation Technology
- Pioneer Partnered with Continental to Develop Cockpit Solutions
- Alps Alpine
- BAE Systems
- Collins Aerospace
- E-Lead Electronic
- Elbit Systems
- Nippon Seiki
- Panasonic Holdings
- Renesas Electronics
- Robert Bosch
- Texas Instruments
For more information about this report visit https://www.researchandmarkets.com/r/bww0ok
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Originally published at https://www.prnewswire.com/news-releases/global-head-up-display-market-forecast-to-2028-europe-leads-head-up-display-market-with-significant-innovation-and-adoption-in-luxury-premium-vehicles-302032424.html
Images courtesy of https://pixabay.com