MARKET OVERVIEW - GLOBAL HEAD UP DISPLAY MARKET
Head Up Display also called HUD is a device that can be mounted on automotive vehicles, especially in aircraft devices. This device displays crucial information and data without diverting the driver from their usual viewing position. With the help of HUD, the driver can be in a straight heads-up position and have access to all the vital information that they need to see while driving the vehicle. In addition, HUD also displays speed and navigation stuff. The passenger’s safety is crucial and distracted driving could be an obstacle. Thus this factor such as the increasing use of head-up displays in military aviation owing to drivers’ safety will rise the market demand for Head-Up Display.
MARKET DRIVERS
In the last few years, the demand for electric automobiles as well as semi-autonomous is growing tremendously owing to the sales of HUD over the years. In addition, the rising concerns about driver safety and rules and restrictions by government authorities will drive the market growth in the coming forecast time. The consumer shift to semi-autonomous vehicles with minimum human interference will drive the demand for HUD. The use of HUD in the automotive insures drivers’ safety while driving without distraction and improves efficiency. From the study report by National Center for Statistics and Analysis (NCSA), Every day, there are 9 people are killed, and more than 1,000 are wounded in the United States. Thus, with the help of HUD integration, it lowers road accidents by preventing drivers’ distractions while driving. These are some factors that will drive the market growth over the mentioned span.
MARKET OPPORTUNITIES
The increasing demand for luxury cars and autonomous or semi-autonomous cars is due to changing the consumer’s shits. In autonomous driving and electric vehicles, head-up displays are going to play an important role. The various emerging technology in the automotive such as advanced driver-assistance system (ADAS) warnings, bridge-height information, battery temperature cautions, turn-by-turn directions, front blind-spot detection will offer many key opportunities in the coming period. In addition, the key companies in the market are focusing on improving product efficiency with investing in research and development will offer many opportunities in the coming period. For instance, Panasonic, has created the newest HUD system, which uses artificial intelligence and a 4k camera to analyze everything in the driver’s line of sight. Thus, these are some factors that will offer potential opportunities in the coming future.
MARKET RESTRAINTS
Although HUD displays the vehicle’s insights while driving still driver needs to change focus from further down the road to the HUD and back. Often color font on the HUD display offers poor legibility when closely following a white car in traffic. Sometimes, drivers with tall height may not have HUD in their sight after adjusting the seat to their preference. These are some factors that act as restraining factors that will impact the market growth.
MARKET GROWTH CHALLENGES
Tier 1 suppliers and Automotive OEMs are challenged to integrate interdisciplinary HUD development teams to build cutting-edge optical and software capabilities to optimize user experience, meet stringent security and validation requirements, and quickly launch their designs to meet growing market demand. Technology is still evolving and needs R&D capabilities to future-proof design, IoT data collection, and overall efficiency and quality.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of the global Head-Up Display market including, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The increasing passenger safety and growing sales of luxury cars or autonomous cars with high features will drive the market and are expected to witness growth at a specific CAGR from 2021-2028.
HEAD UP DISPLAY MARKET SEGMENTAL OVERVIEW
The global Head-Up Display market is segmented based on Type, Application and Geography.
HEAD UP DISPLAY MARKET BY TYPE
Based on type, the Head Up Display market is divided into
- Windshield-Based Head-Up Display
- Combiner-Based Head-Up Display
- AR-Based Head-Up Display
The Combiner-Based Head-Up Display has been highest in the year 2019. But, AR-Based Head-Up Display is projected to grow at the highest rate during the mentioned forecast period. The AR augmented reality head-up displays will make driving even more comfortable and safe in the coming future time. The updated AR-based head-up display offers an exterior view of the traffic conditions in front of the vehicle with virtual information (augmentations) for the driver. AR-based Head Up displays is different from normal windshield-HUD as the reflected information appears to be part of the driving situation itself. This factor leads to AR-Based Head-Up Display segment growth over the period.
HEAD UP DISPLAY MARKET BY APPLICATION
By application, the global Head-Up Display market is applied across
- Automotive
- Military and Civil Aviation Industry
- Other Applications
Based on applications, the Automotive segment is estimated to gain a major market chunk during the forecast period. The automotive segment is growing rapidly owing to the increasing demand for luxury cars or autonomous cars. The change in consumer shift towards high technology and advanced car will drive growth for the automotive industry. In addition, increasing driver safety to prevent any fatal incident is a major growth-inducing factor that will propel the demand for the automotive segment.
HEAD UP DISPLAY MARKET BY GEOGRAPHY
The Global Head-Up Display market is studied for the following region:
- North America
- Europe
- Asia-Pacific
- Rest of the World (RoW)
Europe is expected to dominate the region. There are many reasons that contributed to the region’s growth such as Europe being the top manufacturer of Luxury cars and even Germany is also considered an Automotive hub in Europe. The growth is also induced by the presence of companies such as BMW, Mercedes, Audi AG, and Skoda. Many operating companies are considered Head Up displays to be a premium feature for their luxury cars will drive market expansion in the region. The increasing demand for safety features as well as advanced technologies will fuel the market growth in the Europe regions.
COVID-19 IMPACT ANALYSIS ON THE GLOBAL HEAD-UP DISPLAY MARKET
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors with regard to the Head Up Display market. The report studied an exclusive COVID-19 impact analysis. In addition, the report also studied a complete analysis of changes in the global Head Up Display market, expenditure, and economic and international policies on the supply and demand side. The report also studies the impact of pandemics on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. The Head UP display market has been hit hard by the pandemic and lockdown imposed by the COVID-19 outbreak, the market is affected by the lockdown and shutdown of manufacturing plants that were making head-up displays parts and accessories. Manufacturing halts due to the supply chain disruption resulted in a complete downturn in the production of head-up display parts. In the Asia Pacific region, the Head-Up display market has been affected due to the political crisis between India and China. After The lockdown the demand for Head Up Displays is increasing as the demand for autonomous vehicles arises. The increasing use of HUD technology in gaming, aerospace, security & surveillance will offer various emerging opportunities post-COVID in the market.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the Head Up Display market is majorly focused on expanding the growth of Head-Up Display technology with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in Head Up Display has led to the growing demand for the market. Besides, the market offers a range of products with different applications to fulfil the requirements of the automotive, aerospace and military markets which is further contributing to healthy growth in the market.
The key players studied in the market are
- Panasonic Corporation (Japan)
- Nippon Seiki Co., Ltd. (Japan)
- Elbit Systems Ltd. (Canada)
- Texas Instruments Incorporated (United States)
- Denso Corporation (Japan)
- BAE Systems (United Kingdom)
RECENT DEVELOPMENT:
May 2022: BAE Systems has announced the launch of a new lightweight, compact Head-Up Display (HUD) for use in commercial and military aircraft. The product is called LiteWave, which is a laptop-sized HUD mounted above the pilot’s head that presents critical information, such as direction, altitude, and speed, directly in their line of sight. It is 70% smaller than a traditional HUD. It can be accommodating to the most limited cockpit space. In addition, it is 80% faster to install and its simple design makes maintenance quicker and cheaper.
Jan 2022: Panasonic Automotive Systems Company unveiled AR HUD 2.0 (Augmented Reality Head-Up Display 2.0), the first system to include a new, patented eye-tracking system (ETS).
