In 2022, the Global Automotive HUD Market reached a value of US$ 1.57 Bn. The market for automotive HUD displays exhibits a moderate level of consolidation, characterized by the presence of both international and regional players. These companies have gained a competitive advantage by effectively managing their product portfolios, introducing innovative offerings, and expanding their global presence across multiple countries. Prominent automakers are investing in research and development initiatives to develop advanced HUD systems, aiming to boost sales and make HUD technology available in compact and midsize vehicles.
Global Automotive HUD Market: Drivers
Drivers Safety and Advanced Driver Assistance Systems.
The driver's line of sight is directly provided with real-time information by automotive Head up Display systems, such as speed, navigational instructions, and warning alerts. HUDs improve driving safety by reducing distractions and increasing situational awareness by removing the need for the driver to look away from the road. The demand for automotive HUDs is being fueled by the growing integration of ADAS features like lane departure warning, adaptive cruise control, and collision warning systems.
Global Automotive HUD Market: Opportunities
Shift towards electric Vehicles
The use of automotive HUDs is greatly facilitated by the rising popularity of electric and autonomous vehicles. HUDs are an excellent way to display the unique displays and data that electric vehicles frequently have regarding battery status, charging stations, and energy usage. HUDs in autonomous vehicles can show essential details about the vehicle's surroundings and status, delivering a seamless user experience.
Global Automotive HUD Market: Restraints
High Cost of Installation.
HUD system installation in vehicles can be quite expensive. High-resolution displays, optical components, and sensors are just a few examples of the sophisticated technology and components that are a major driver of this price. HUD system adoption may be constrained by their higher cost when compared to conventional instrument clusters or infotainment displays, especially in lower-priced vehicle segments.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/automotive-hud-market-2795
Key Takeaways:
The Global Automotive HUD Market was valued at US$ 1.57 Bn in 2022 and is forecast to reach a value of US$ 9.04 Bn by 2030 at a CAGR of 24.5% between 2023 and 2030.
Windshield segment held dominant position in the Global Automotive HUD Market in 2022, accounting for 67.0% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global Automotive HUD Market Trends:
Emergence of electric vehicles.
The rise of electric and autonomous vehicles presents opportunities for HUD systems. As electric vehicles become more mainstream, HUDs can provide real-time data on battery levels, range estimation, and charging station locations. In autonomous vehicles, HUDs can assist with displaying critical information and alerts to passengers.
Use of advanced technology:
The automotive HUD market has witnessed significant technological advancements. HUD systems now offer improved graphics, augmented reality features, and integration with advanced driver assistance systems (ADAS). These advancements have resulted in enhanced user experiences and increased safety features. Augmented reality HUDs are gaining traction in the automotive industry. These HUD systems overlay virtual information onto the real-world view, providing drivers with contextual and location-based data.
Global Automotive HUD Market: Competitive Landscape
Continental AG, Delphi Automotive LLP, Denso Corporation, MicroVision Inc., Nippon Seiki Co. Ltd., Robert Bosch GmbH, YAZAKI Corporation, Visteon Corporation.
Global Automotive HUD Market: Recent Developments
In March 2023, BMW’s new head-up display (HUD) called BMW Panoramic Vision is to go into series production with the first ‘Neue Klasse’ models in 2025. Oliver Zipse, Chairman of the Board of Management of BMW AG, confirmed this during his speech at the 2023 Annual Conference.
In April 2023, Raythink, a Chinese producer of augmented reality (AR) head-up displays (HUDs) for the automotive and transportation industry, has recently debuted its new smart vehicle AR-HUD solution at the 20th Shanghai International Automobile Industry Exhibition.
In December 2022, Screens that clearly display vehicle and route information in the driver’s field of vision – Continental AG, an automotive company is continuing this trend with the first-ever Scenic View Head-up Display (HUD)
