The global automotive head-up display market share is expected to attain a valuation of US$ 1.3 billion in 2023 and is projected to reach US$ 6.4 billion by 2033, trailing a CAGR of 17.2% during the forecast period.
The German Association of the Automotive Industry reported that in 2019, luxury car production in Germany reached approximately 224,009 units, slightly lower than the 227,466 units produced in 2018. This consistent production of luxury cars, coupled with the presence of top Head-Up Display (HUD) manufacturers in Germany, is expected to drive the demand for HUD technology in the country.
Furthermore, the demand for automotive HUD in the region is anticipated to expand significantly, with a Compound Annual Growth Rate (CAGR) of 17% during the forecast period. This growth can be attributed to the implementation of strict safety regulations by the government, along with the increasing sales of luxury cars. Automotive HUD systems are increasingly being adopted in luxury vehicles as part of the driver and passenger safety system, enhancing the driving experience and improving overall safety on the road.
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The market is significantly expanding due to increased awareness of road vehicles and passenger safety. Features such as on board cameras, alert signals, speed limits, and navigation help prevent driver distractions while driving.
Utilizing head-up displays can avoid accidents caused by drivers checking in-vehicle displays and provide excellent driver safety. The growing demand for connected vehicles acts as a significant driver, fuelling the growth of the global automotive head-up display market during the forecast period.
Automotive HUDs are used to enhance safety during flights with limited visibility and ground-based obstacles. They aid in landing by providing the pilot with information about the flight path, safe landing position, and proximity to other aircraft. Moreover, this leads to a high demand for automotive head-up displays globally. The desire for an improved driving experience is also fuelling market growth further.
Key Takeaways
- The United States automotive head-up display industry is projected to expand with a CAGR of 16.8% from 2023 to 2033.
- The demand for automotive head-up displays in China is expected to capture a CAGR of 17.1% during the forecast period.
- By dimension, the 3D segment is projected to expand with a CAGR of 19.6% between 2023 and 2033.
- Germany is expected to secure a CAGR of 17% throughout the forecast period.
Increasing sales of luxury and premium vehicles are expected to fuel the demand for automotive head-up displays during the forecast period – Anticipates an FMI Analyst
Competitive Landscape
The market for automotive head-up displays is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.
The key industry players operating in the market are
- Continental AG
- Denso Corporation
- Nippon Seiki Co., Ltd.
- Visteon Corporation
- Delphi Automotive LLP
- Garmin Ltd.
- MicroVision, Inc.
- LG Display Co., Ltd.
- Hyundai Mobis
- KYOCERA Corporation
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Key Segments Profiled in the Automotive Head-up Display Market
By Product Type:
- Windshield
- Combine
By Technology:
- Augmented Reality
- Conventional
By Vehicle Type:
- Midsize
- Luxury
- Sports Utility Vehicle
- Commercial Vehicle
By Dimension:
- 2D
- 3D
By Sales Channel:
- Original Equipment Manufacturers (OEM)
- Aftermarket
Key Regions Covered:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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