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.)
More about Automotive Head Up Display Market:
- Tracing the Recent Advances in Automotive Head Up Display Systems
- Global Automotive Head Up Display Market to Generate $10,382.1 Million by 2031, Owing to Increase in the Demand for Vehicles with Advanced Safety Features
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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