The Head-Up Display Market Value is expected to record a valuation of USD 11576.3 Million by 2028, Registering to Accelerate at a 21.35% CAGR, Head-Up Display Market Size Reached USD 2987.4 Million in 2021. According to the most recent study by Brandessence Market Research & Consulting Pvt ltd.
Increasing number of automobile vehicles, growing investment in the military and defense sector, and rising awareness regarding passenger and vehicle safety are some of the major factors driving the growth of the Global Head-up Display Market.
Head-Up Display Market: Market Scope
The global head-up display market has been projected to show a good amount of growth in the coming years with the market showing great development in the aerospace sector. The head-up display unit is a projection unit which projects an image or a video which is brightly lit on a transparent surface. The main function of the head-up display is the elimination of the need of a user to take their gaze away from the road for the infotainment dashboard.
These displays are responsible for emitting the details such as turn-by-turn navigation, current speed, poster signs, blind spots and warnings etc. the vision remains where the danger is going to be. When they first came into being, the head-up displays had been invented only for the aircrafts that were used by the military however the implementation recently has been done for the premium automotives too.
Head-Up Display Market: Key Drivers
Among the global head-up display market demand drivers, it is the growth in challenging driving conditions in the past few years with the increase in population and the increase in number of vehicles which are on the road. Moreover, there is an advancement in the augmented reality technology which is going to revolutionize the market. When these factors are taken into consideration, it is estimated that this market is going to be experiencing an unprecedented level of growth in the coming years.
The passengers and vehicles and their safety is something that is of grave importance for the buyers of any vehicle. The regulatory authorities all over the world have been working on improving the safety of all vehicles. It is estimated that there are over a million deaths are caused due to the traffic on roads every single year all over the world. There are studies which suggest that the road traffic injuries are going to become even more significant in the coming years. One of the main reasons behind these deaths is the distraction of driers. The accidents can be reduced by the head-up displays market and that is going to be a key factor in influencing the growth of the global head-up display market.
Head-Up Display Market: Competitive Analysis
The global head-up display market manufacturers have found their space in the market. The prominent market players are the likes of Continental AG, BAE Systems, Elbit Systems Ltd., Denso Corporation, Panasonic Corporation, Pioneer, Bosch, Yazaki Corporation, Nippon Seiki Co., Ltd., STMicroelectronics, Texas Instruments Incorporated, Rockwell Collins and Visteon Corporation. These are companies which work on innovation and making their products cost effective for their users. This will drive the market as they fight to get a larger head up display market share.
News-BAE Systems Launched a New Lightweight Head-Up Display for Use in Commercial and Military Aircraft.
On May 4th,2022; BAE Systems unveiled a new lightweight, compact head-up display (HUD) for use in commercial and military aircraft.A light wave is a laptop-sized HUD mounted on a pilot’s head that presents critical information such as direction, altitude, and speed directly to their vision. Being 70% smaller and lighter than a traditional HUD, the LiteWave can be fitted to a plane with the most limited cockpit space. It is up to 80% faster to install and its simple design makes maintenance quick and inexpensive.
The new Maruti Baleno Facelift Launched and for the First Time, Any Suzuki Car has a 9-inch Infotainment Screen with a Head-Up Display.
On February 11th, 2022; Maruti Suzuki India launched its new Baleno (New Maruti Baleno Facelift Launch) and its features are coming to the fore. For the first time, Maruti offers a feature in this vehicle that they have not provided in any of their vehicles to date. Maruti Suzuki has started showing the teaser of the new Baleno 2022. This shows that the company is moving into a new car with a head-up display. At the same time, it had an infotainment screen that had never been seen in any Maruti vehicle.
Head-Up Display Market: Key Trends
In most of the cases, the drivers are prone to taking their eyes of the road while reading an instrument cluster which requires a vision adjustment. The driver has to then readjust to a larger distance on the road. This frequent shifting can lead to the eyes tiring and the concentration loss in the drivers. The critical information which is related to the speed of the vehicle and navigation. These are offered by the head-up displays in the line of their sight and then avoids distractions for the driver. This is a major factor which can make road travel safer and also grow the demand for the market.
This is going to encourage the automobile manufacturers into deploying the head-up displays in their transportation. Therefore, the awareness of safety all over the world will propel the market demand significantly. These kinds of devices are also going to be available in the luxury vehicles. The other factors which are critical for the head up display market size is the high penetration of these displays in the aerospace and the defense sector. This is going to be an important condition for the growth of this market as the aerospace market uses the display segment very extensively.
There are some constraints for this market though like the cost of the product which really hinders this market growth. Further, the development of the connected cars as well as the emergence of the newer applications will be providing the lucrative opportunities for the global head-up display market. The major factors which are impacting the market include the increase in the number of vehicles recently. The advancements in the augmented reality are also further growing this market. The head up display market analysis shows that the augmented reality will be key to how this market performs in the coming years.
The global head-up display market will see the highest growth in the world on the basis of region in Europe. The region is going to be dominant because of the presence of some of the most important players in this market and also because of how the connected cars segment is going well in this region. North America is also going to be a major contributor behind Europe as there is increased adoption in this region along with Europe and people are adopting the technology more than what they are doing elsewhere in different markets.