The head-up display market is predicted to be worth US$ 8.6 billion in 2023, rising to US$ 46.0 billion by 2033. During the projection period, sales of head-up displays are expected to expand at a substantial CAGR of 18.3%.
The market is primarily driven by expanding global automotive sales. Increasing customer demand for luxury and premium automobiles with cutting-edge display and safety features, such as HUD systems, is further fueling market growth. Several manufacturers are implementing various driver aid elements, such as augmented reality (AR) and more graphics space, to give a safer driving experience and thereby enhance product demand.
Furthermore, a number of manufacturers are incorporating HUDs into mid-range vehicle models in order to cater to middle-class and lower-income consumers, which is expected to enhance the market. Increased urbanisation, rising consumer spending power, and a number of technological breakthroughs, such as the adoption of liquid crystal displays (LCD) and light-emitting diodes, are all impacting the global heads-up display market’s expansion (LED).
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Key Takeaways from the Head-Up Display Market
- The U.K. is emerging as an appealing niche in the European market due to the increasing use of cutting-edge technical solutions in the automotive industry. The demand for head-up displays in the United Kingdom is anticipated to grow at a CAGR of 17.3% during the course of the study, according to the report.
- Sales in the U.S. market are anticipated to increase at a staggering 18.1% CAGR through 2033 and reach a market share of US$ 16.6 billion by that year, according to FMI. The market is being stimulated by ongoing investments in the military and defensce industry, and sales are anticipated to keep increasing in the years to come.
- The projection unit had the highest sales volume in 2022, generating US$ 891.6 million in revenue. This is due to its high level of transparency and environmental friendliness.
- HUD applications in the automotive sector are expected to grow at 24.2% over the forecast period. To improve the driving experience, leading automakers are deploying advanced HUDs in premium and exclusive vehicle lines.
- The primers and base coat segment are dominant in the Heads-Up Display market. Both segments collectively hold around 66.3% of share in the global Heads-Up Display market.
Competitive Landscape
Leading companies in the worldwide head-up display market are concentrating on research and development to incorporate connective technologies like augmented reality and artificial intelligence (AI) (AR). Players want to diversify their product portfolios with this. In order to obtain a competitive edge in the market, firms are also engaging in mergers, acquisitions, and collaborations.
- In January 2022, CY Vision introduced 3D augmented reality head-up displays for automobiles. (3D AR-HUD). It offers the broadest field of view in augmented displays now available for all kinds of weather and distances.
- In September 2021, For its A320 family of aircraft, Airbus is creating a newly improved flight vision system (EFVS). The sophisticated vision sensor needed to create head-up displays will be provided by Collins Aerospace. The sensor, a system of many specialty cameras, a head-up display (HUD), and cockpit controls make up the EFVS now under development.
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Head-Up Display Market by Category
Head-Up Display Market Component:
- Projection Unit
- Video Generator
- Display Panel
- Software
Technology:
- CRT
- Micro Electromechanical Systems (MEMS)
- Liquid Crystal Display (LCD)
- DLP
- LCOS
- Waveguide
Application:
- Military and Defense
- Civil and Aviation
- Automotive
- Others (Manufacturing, Wearable etc.)
Type:
- Windshield
- Combiner
- Head-Mounted
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
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