According to a new report, published by KBV research, The Global Head-up Display Market size is expected to reach $5.9 billion by 2027, rising at a market growth of 19.2% CAGR during the forecast period.
The Automotive segment acquired the maximum revenue share in the Global Head-up Display Market by Application in 2020, thereby, achieving a market value of $3.5 billion by 2027. Vehicle manufacturers, like Ford and GM, are progressively incorporating built-in infotainment systems into their vehicles to provide customers with better driving experiences. HUD systems, which are extensively connected with in-car entertainment as well as vehicle information systems, are projected to see rising demand as the requirement for these advanced systems in vehicles grows. The seamless integration of tablets and smartphones with in-vehicle entertainment and information systems, as well as the increasing trend of connection in vehicles, is also contributing to the rising demand for advanced driving-assisted systems. The demand for HUD systems is likely to rise as the market for these driver-assisted systems grows, making the process of monitoring the information presented easier.
The Augmented Reality (AR)-based market is showcasing a CAGR of 21.7% during (2021 - 2027). A vehicle with an AR-based HUD can convey more information than one with a regular dashboard. Augmented reality, for example, can show how a car interprets its surroundings, detects danger, interacts with other technologies, calculates routes, and activates Advanced Driver-Assist Systems. Due to the integration of these advanced technologies, driver safety is being more streamlined. Therefore, the growth of the segment is being augmented by this factor.
The Projectors/Projection Units segment is leading the Global Head-up Display Market by Component in 2020, thereby, achieving a market value of $2.2 billion by 2027. In a conventional HUD, the projection unit is an optical collimator arrangement, which consists of a concave mirror or convex lens with a light emitting diode display, cathode-ray tube, or liquid crystal display at its focal point. This setup produces a collimated image, in which the focus point is thought to be infinity. The increasing growth of this segment is attributed to the fact that projectors or projection units are comparatively easier to deploy.
The Europe market dominated the Global Head-up Display Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2.0 billion by 2027. The North America market is estimated to grow a CAGR of 18.5% during (2021 - 2027). Additionally, The Asia Pacific market would experience a CAGR of 20.1% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/head-up-display-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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