Global Automotive Head Up Display Market Predicted to Grow Substantially Owing to the Increasing Sales of Automobiles Post-Covid-19 Pandemic [270-Pages] | Commended by Research Dive

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05 Apr, 2023, 10:59 GMT

The global automotive head up display market is predicted to experience prominent growth by 2031, due to the increasing demand for safety features in vehicles. Regionally, the Europe region registered the highest revenue in 2021.

NEW YORK, April 5, 2023 /PRNewswire/ -- Global Automotive Head Up Display Market Forecast Analysis:

As per the report published by Research Dive, the global automotive head up display market is envisioned to garner a revenue of $10,382.1 million and grow at a noteworthy CAGR of 26.7% during the estimated timeframe from 2022 to 2031.

Segments of the Automotive Head Up Display Market

The report has divided the market into the following segments: 

  • HUD Type: windshield HUD and combiner HUD
    • Windshield HUD – Most dominant in 2021
      The increasing demand for windshield HUDs because of their numerous advantages such as greater efficiency, cost-effectiveness, and higher security is expected to push the growth of this sub-segment further.
  • Technology: augmented reality HUD and conventional HUD
    • Augmented Reality HUD - To have the fastest growth by 2031
      AR HUDs use artificial intelligence to highlight pedestrians, possible collisions, and crosswalks to improve the situational awareness of drivers, which is expected to augment the growth rate of the market in the 2022-2031 timeframe.
  • Car Type: high-end cars, mid-segment cars, and economy cars
    • High-End Cars - Most profitable in 2021
      The increasing use of HUDs in high-end cars due to their high cost is expected to propel the sub-segment forward.
  • Sales Channel: Original Equipment Manufacturer (OEM), and Aftermarket
    • Original Equipment Manufacturer – Most lucrative in 2021
      Manufacturing a huge quantity of HUDs can allow automotive OEMs to increase performance and minimize costs which are anticipated to push the market forward.
  • Region: North America, Europe, Asia-Pacific, and LAMEA
    • Europe - Significant market share in 2021
      The presence of major OEMs, rising disposable income among millennials, and the increasing demand for high-end cars in this region are predicted to propel the regional market growth in the forecast period.

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Dynamics of the Global Automotive Head Up Display Market

A rapid increase in the sales of automobiles post the Covid-19 pandemic due to the ease of lockdowns and availability of semiconductors is predicted to fortify the growth of the automotive head up display market during the pandemic period. Besides, the increasing expenses on premium car services for enhanced safety features are expected to bolster the growth of the market throughout the forecast timeframe. However, the high costs of HUDs may impede the growth of the market over the analysis period.

The adoption of augmented reality in head up displays to increase the limit of the field of view (FOV), overlay information directly onto the real world and help drivers to make preventive decisions are the major factors expected to create massive growth opportunities for the market over the estimated period.

Covid-19 Impact on the Global Automotive Head Up Display Market

The outbreak of the Covid-19 pandemic has had a negative impact on the automotive head up display market, likewise various other industries. This is mainly due to the decrease in the manufacturing of displays due to the nationwide lockdowns and economic downturns. Moreover, the shortage of labor, the high price of raw materials, and supply chain disruptions have further affected the market growth. Additionally, the decreased sales of mid-segment and economy car sales across the globe have further declined the growth of the market throughout the crisis.

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Key Players of the Global Automotive Head Up Display Market

The major players of the market include

  • Denso
  • Nippon Seiki Co. Ltd.
  • Visteon Corporation
  • Hudway
  • Bosch
  • 3M
  • UniMax
  • Valeo
  • FIC Group
  • Continental

These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain a leading position in the global industry.

For instance, in December 2021, Karma Automotive, a Chinese-owned American producer of luxury electric vehicles, announced its collaboration with WayRay, a deep-tech Switzerland-based company bringing holographic AR to the automotive industry. With this collaboration, Karma Automotive aimed to integrate an innovative Augmented Reality (AR) Head-Up Display (HUD) technology in its upcoming vehicle segments.

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What the Report Covers

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)

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