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With 9.51% CAGR, Head-up Display Market Size to Reach USD 478.68 Billion by 2030

STRATEGIC MARKET RESEARCH LLP
STRATEGIC MARKET RESEARCH LLP

As Per the Report Published by Strategic Market Research, the Head-up Display Market is expected to reach USD 28.19 Billion by 2030, Growing at a CAGR of 24.69% During the Forecast Period of 2021 – 2030.

New York, USA, Sept. 07, 2022 (GLOBE NEWSWIRE) -- The Worldwide Head-up Display Market value was USD 3.81 Billion in 2021 and will reach USD 28.10 Billion in 2030 with a 24.69% CAGR. A head-up display, sometimes known as a HUD, is a transparent display that shows information without requiring the users to change their natural viewing angles. As HUD eliminates the need for drivers to glance down at a traditional display panel, hence, it is considered as an active safety feature. Today's HUDs can also display information such as navigational instructions, warning lights, and engine rpm, hence reducing the distraction rate of the drivers from the road. A substantial growth of HUD usage in the automotive sector, a rise in disposable incomes, passenger car sales, etc., are expediting the market growth.


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Head-up Display Market Insights: 

  • The Display units segment held the largest share of 81.78% for the Components sector.

  • The LCD segment of the Technology section dominated with a share of 51.91%.

  • For the Application section, the Automotive segment led the market with a 72.23% share.

  • For the Regional section, Europe dominated with a 45.22% market share.


Factors influencing the Head-up Display Market growth

(A substantial growth of HUD usage in the automotive sector, a rise of disposable incomes, passenger car sales, etc. are expediting the market growth)

  • The HUD is used in the automotive industry to improve the safety standards of drivers. The Motor Vehicle Safety Data report from the Bureau of Transportation Statistics predicts that there were be around 42,915 fatalities in 2021. SMR's survey reported that adjustments made during a change in the field of vision, such as looking from the road towards the dashboard and again back on the road, are the main causes of the majority of car accidents. Hence, there is a significant decrease in the likelihood of crashes if the information is displayed on the screen. Thus, rising consumer knowledge regarding the use of HUDs will result in an increase in sales, which in turn will proliferate the market growth extensively.

  • The rate of passenger car sales in the automotive industry has significantly increased over the anticipated time frame. The Bureau of Transportation Statistics' data inputs showed that new passenger car sales and leases increased by almost 3.21% between 2020 and 2021. The European Automobile Manufacturers Association (ACEA) stated that in 2020, the EU region sold more than 11 million passenger cars. Hence, the need for the head-up display (HUD) will rise along with an increase in passenger vehicle sales.

  • Worldwide, an individual’s rate of disposable income has significantly increased since 2014. Eurostat reported that the average annual rise in disposable income has been 1.55% in 2021. The US Bureau of Economic Analysis reported that between Q4 of 2020 and Q4 of 2021, there was an increase in disposable income from USD 17,282.2 per quarter to USD 18,255.1 per quarter, representing a 5.63% gain. Hence, higher wages will result in a greater rate of expenditure on a variety of consumer goods, including HUDs.

Head-up Display Market: A thorough Segmentation Analysis

The worldwide Head-up Display Market segmentation has been performed based on Component, Technology, Application, & Geography.

For Component:

  • Display Units

  • Projection Units

  • Video generators

  • Software

For Technology
· Micro-Electromechanical Systems/MEMS
· CRT
· DLP
· Waveguide
· LCD
· LCOS
· Others

For Application

  • Automotive

    • Mid-segment & Basic Cars

    • Sports Cars

    • Luxury/ Premium Cars

  • Wearables

  • Aviation

  • Other

For Geography
North America

  • USA

  • Mexico

  • Canada

  • Rest of North-America

Asia-Pacific 

  • Australia

  • India

  • Japan

  • Vietnam

  • Singapore

  • China

  • South Korea

  • Rest of APAC

Europe Continent

  • Greece

  • Poland

  • France

  • Italy

  • UK

  • Finland

  • Portugal

  • Netherlands

  • Germany

  • Russia

  • The rest of Europe 

RoW

  • Saudi Arab

  • Kuwait

  • Brazil

  • Qatar

  • Argentina

  • South Africa

  • Algeria

  • UAE


Make a Direct Purchase of the latest Head-up Display Market Report published in the month of July 2022. Click the below link to initiate the purchase: 

https://www.strategicmarketresearch.com/buy-now/head-up-display-market


The Display units segment held the largest share of 81.78% for the Components sector. The market for this segment will grow exponentially as demand for navigation and entertainment systems are continuously increasing along with the rising consumer demand for comfort, convenience, and improved safety in vehicles, particularly in emerging economies. To increase sales, manufacturers are introducing cutting-edge infotainment systems, centre controllers, gesture control systems, and telematics, which are boosting the market's expansion. SMR's research delineated that in 2021, out of all the vehicles sold worldwide, around 84% of vehicles had an infotainment system (a touchscreen display system mounted on the dashboard in the middle of a car) installed in it.

The LCD segment of the Technology section dominated with a share of 51.91%, owing to the rise in LCD demands for commercial aircrafts. The commercial aircrafts used LCD HUD for their back-light projections. The USA Aerospace & Defence industry has reported that in 2021 almost 60% of all commercial planes belonging to the Boeing-737 NG aircraft & Airbus A320 series used HUD LCD displays for back-light projections.

For the Application section, the Automotive segment led the market with a 72.23% share. The market for the automotive sector is anticipated to expand due to the integration of head-up displays with driver assistance systems, which are being embraced by more and more automakers worldwide, thereby augmenting the market growth. As per Digi-Key CEC, the augmented reality Head-Up Display installed in the Audi Q4 e-Tron, spotlights the vehicle in front of it and displays navigational turn information.

For the Regional section, Europe dominated with a 45.22% market share. One of the pivotal reasons influencing the expansion of the markets for fixed and mounted HUDs, military aircraft HUDs, and commercial aircraft HUDs is the presence of some world-renowned vehicle and aircraft manufacturers in Europe. For example, Lufthansa AG (Deutschland), Airbus (France), etc., are some of the well-known aviation-aircraft manufacturers present in the European region that plays a significant role in HUD usage for back-light projections.


Key players prevailing in Head-up Display Market:

  • Lufthansa AG

  • Airbus

  • BAE Systems

  • Visteon Corp.

  • Thales Group

  • Denso Corp

  • Robert Bosch

  • Continental AG

  • Nippon

  • Texas Inst.

  • Rockwell Collins

Before initiating a purchase, make a Pre-order enquiry and get a detailed overview of the content of the report.

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Report Coverage

Details

Forecast Period

2021-2030

Forecast Period 2021 to 2030 CAGR

CAGR of 24.86 %

2030 Value Projection

USD 22.77 billion

Base Year

2020

Market Size in 2021

USD 3.80 billion

Historical Data for

2015-2019

No. of Pages

135

Companies

Medtronic, Boston Scientific Corporation, Abbott Laboratories, LivaNova, Synapse Biomedical, Nevro Corporation, NeuroSigma, Inc., NeuroPace, Inc., Neuronetics, Inc., BioControl Medical, Bioness, Soterix Medical, Integer Holdings Corporation, Bioinduction, GiMer Medical, GTX Medical, Helius Medical Technologies, MicroTransponder, Neuronano, BlueWind

Leading Segment Based on Component

display panel/unit

Leading Region

Europe

Segments covered

By Component Outlook, By Type, By Technology, By Application and By Region

Recent Developments

  • On 5th September 2022, Toyota and Maruti launched their brand-new models, Toyota Hyryder and Maruti-Grand Vitara, respectively. These highly-advanced cars are equipped with a 9-inch touchscreen, infotainment system HUD integrated with a 360-degree camera. This will allow the drivers to navigate properly while driving and reduce the rate of their distractions on the road, which in turn will prevent the chances of further road-accidents.

  • On 7th June 2022, Raythink a Taiwan-based organization, received a whooping sum of USD 15 million from the Series A+ Funding round to enable mass production of AR-powered HUDs for the development of its vehicle navigation systems. Moreover, it also announced that it is partnering with a Chinese organization, Chengwei Capital, to accelerate the growth of the AR HUD market in China. 

  • On 4th May 2022, BAE Systems launched its brand-new lightweight HUD, LiteWave, for usage in military and commercial aircrafts. LiteWave is a laptop-sized head-up display (HUD) that is installed above the pilot's head and displays crucial data like direction, altitude, etc. In the aircraft, LiteWave can be installed in even the most constrained cockpit area because it is 70% smaller and lighter compared to a conventional HUD. 

To read the summary of the report, visit the website at
 https://www.strategicmarketresearch.com/market-report/head-up-display-market


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