The Asia Pacific Head-up Display Market would witness market growth of 20.1% CAGR during the forecast period (2021-2027).
Due to difficult driving conditions and an increase in the number of vehicles on the road, the head-up display market is likely to develop throughout the forecast period. Furthermore, the market is also being driven by the enhanced safety features provided by head-up displays. In addition, advancements in the augmented reality technology are expected to revolutionize the market for head-up displays.
The rising number of vehicle accidents has necessitated the development and deployment of technology to assist drivers in avoiding deadly mistakes, dangerous vehicle accidents, and casualties. The majority of car accidents are caused by drivers who are distracted or talking on their phones while driving. Moreover, utilizing navigational apps on a smartphone or mobile device required the driver to glance down or at the spot where the screen is to see where they are going. This causes a brief lack of concentration and slows response time, which could be dangerous if a car enters into the same lane, or if a person or pedestrian abruptly steps off a sidewalk onto the road.
In this region, China is one of the major market players in the automotive market. According to the Chinese central government, China's vehicle output is expected to exceed 30 million units by 2020. In addition, the organization also stated that the automotive output of the nation would reach 35 million units by 2025. The requirement for HUD is estimated to rise in tandem with the growth of automotive manufacturing, positively boosting the market's growth.
In addition, China is speeding up the standardization of autonomous driving as well as advanced driver assistance systems (ADAS). To support and facilitate the growth of the intelligent connected cars sector, the Chinese government's Ministry of Industry and Information Technology recently issued the major working principles of Intelligent Connected Vehicle Standardization for 2018. China faces various obstacles, including increased air traffic, adverse weather conditions, and higher pollution levels. Several measures are being adopted by the authorities, including the mandatory use of HUDs. The Civil Aviation Administration of China (CAAC), for example, has made HUD mandatory for all Chinese carriers.
The China market dominated the Asia Pacific Head-up Display Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $526.4 million by 2027. The Japan market is poised to grow at a CAGR of 19.3% during (2021 - 2027). Additionally, The India market would display a CAGR of 20.8% during (2021 - 2027).
Based on Application, the market is segmented into Automotive (Passenger Cars and Commercial Vehicles) and Aviation (Civil and Military). Based on Type, the market is segmented into Conventional and Augmented Reality (AR)-based. Based on Type, the market is segmented into Projectors/Projection Units, Display Units, Software, Video Generators and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Head-up Display Market is Projected to reach USD 5.9 Billion by 2027, at a CAGR of 19.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Visteon Corporation, Nippon Seiki Co., Ltd., Robert Bosch GmbH, Continental AG, Denso Corporation, Pioneer Corporation, BAE Systems PLC, Panasonic Corporation, Thales Group S.A., and Yazaki Corporation.
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