Automotive Head-up Display (HUD) Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2044
Automotive Head-up Display (HUD) Market size will envisage substantial growth with the growing automotive industry. This innovative technology is widely used in automobile industry for providing convenience to drivers. Extensive use of this technology in luxury cars has accelerated automotive head-up display (HUD) market.
Increasing sales of global car industry has propelled automotive head-up display (HUD) market. It is a desired component of vehicle which provides direction and ease of accessibility in the car without physical contact. Economic backdrop around the world and positive sales position raised component demand. Growing investment on luxury cars is another factor that has positively impacted demand of the product. It is a translucent presentation that offers data in the automobile without demanding users to look away from their standard viewpoint.
Growing luxury car sector will drive automotive head-up display (HUD) market, mass production of luxury passenger vehicle grew over 6% in 2016. Big luxury car manufacturers such as Audi and BMW has launched this technology in their products. Technological upgradation has progressed to the point where it is feasible, it is used in navigation as well as road marking. It is also useful in conditions like bad visibility.
Increasing demand of automobiles will lead to surge in automotive head-up display (HUD) market. GST is the factor that drives consumption in the industry. Overall reduction of tax burden on consumers has triggered investment on vehicles. This industry plays a significant role in the economy of a country and generation of revenue. Rising disposable income of consumer is a key factor that drives automobile sector and influences the product.
Such devices will further evolve as portable multimedia that will directly distract the driver. Diversion from voice, flashing text and low light efficiency can result into major car accidents that can impact demand of the product. Excessive cost of this innovative technology is another factor that hinders growth of automotive head-up display (HUD) market.
Based on vehicle price automotive head-up display (HUD) market is divided into premium, luxury and middle segment cars. Component bifurcation of the product involves projector, combiner, video, image generator and windshield. It is majorly used in automobile sector in various applications such as luxury and mid segment cars.
North America led by the U.S. is largest manufacturer of luxury cars. The product is optional in low budget but is mandatory in all luxury cars. It provides ease in accessibility, vision, direction and adds value, prestige in vehicle. Sales of premium luxury cars and SUV’s has witness increase of over 3%, 1% respectively in 2016. With rising technological advancement, low employment rate and high demand for luxury cars drives automotive head-up display (HUD) market.
Asia Pacific automotive head-up display (HUD) market, led by India and China will witness significant growth due to growing locomotive industry, increasing population and rise in disposable income that boosts demand for the product. China vehicle sales will grow over 3.5% in 2017 as tax cut reduced on small engine cars. The country hosts almost all big brands and models’ car manufacturers such as Audi, Venucia and Beijing. The product is featured by all the car brand making it most desirable feature in a vehicle.
Europe automotive head-up display (HUD) market will witness robust growth as the region is the largest buyers of cars in the world. United Kingdom sold over 2 million cars and trucks in 2012, one of the highest figure recoded. It is home to many volume car manufacturers and commercial vehicles. More than 70% of vehicle manufactured in the region is exported to various countries for consumption. Growing demand of automobiles and exports in the region is driving growth for automotive head-up display (HUD) market in Europe.
Key manufacturers in automotive head-up display (HUD) market includes Nippon Seiki, BMW Group, Panasonic Corporation, Micro vision Inc., Visteon Corporation. General Motors Company announced key restructuring in 2017, aiming to drive tougher business performance and focus on its capital resources on corporate prospects expected to deliver higher revenues. The company will focus on export manufacturing and more focused and disciplines operations. BMW AG announced production expansion in near future. Being the most prominent luxury car manufacturer, it is heading towards expanding its production capacity to meet needs and desires of end consumers.
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