A Head-Up Display (HUD) is a Transparent display set up on the car’s dashboard, which displays crucial information and data without diverting the driver’s attention from the viewing position. It allows the driver to be in a head-up position and access all the important information they need while driving. One can get access to the car’s speed or navigation with the help of a Head-Up Display.
The Global Head-Up Display market size in 2021 was $3.80; by 2030, it is expected to reach $ 28.10 billion at a CAGR of 24.86% 2021-2030.
Key Industry Drivers
Increasing awareness and the growing automotive sector are driving the overall market growth.
- In the Automotive Industry, the purpose of the HUD is to provide higher safety standards for vehicle drivers. The Bureau of Transportation Statistics’ Motor Vehicle Safety Data reported that 42,915 fatalities were expected in 2021. According to industry reports, most crashes are caused by adjustments made during a change in the field of vision, such as looking from the road to the dashboard and back on the road. According to research, having the information on the screen significantly reduces the likelihood of a crash. As a result, increased awareness of the use of HUDs will increase sales.
- In the forecasted time, sales in the automotive sector will increase. According to the recent Bureau of Transportation Statistics data, in 2020-2021, there was a 3.2% increase in new passenger car sales. In 2020, more than 11 million cars will be sold in the EU, according to the ACEA (European Automobile Manufacturers Association). With an increase in automobile sales, the demand for the Head-Up Display market will rise.
Recently there has been a rise in global demand for semi-autonomous and Electric vehicles. The growing popularity of these vehicles is boosting the demand for Head-Up Displays. Semi-autonomous vehicles can detect their surroundings and navigate to their destination with less human intervention. They can be controlled using voice commands. These vehicles are primarily used to improve driver safety and convenience. Semi-Autonomous vehicles have advanced features like park assistance, forward collision avoidance, and cruise control. All these are displayed on windshields in the sight of drivers by the head-up displays used in semi-autonomous vehicles.
- The Market is segmented based on components: Software, Projectors, Display units, and Video generators. The display unit segment is predicted to grow astounding during the forecast period. Growing demand for Navigation and Infotainment systems will drive the segment’s growth.
- Based on Application, the Head-Up Display market is segmented into Military and Defense, Civil Aviation, Automotive, and others.
HUDs in the Automotive Industry is expected to gain traction over the forecast period. BMW, Volkswagen, Mercedes-Benz, and Volvo, among others, install advanced HUDs in premium and exclusive vehicle lines to improve the driving experience. Mercedes HUDs are currently available in models such as the A-Class, CLA, CLS, and GLE. Similarly, HUDs have been developed for other car models, such as the Seltos HUD and the Baleno HUD, among others.
The Aviation Industry will also boost the overall market, primarily in the Defense Aviation sector. As per the UK House of Commons Library, defense spending would rise by GBP 2.5 billion, bringing total defense spending to GBP 42.4 billion. Thus, increased spending on HUDs by the Aviation Industry would increase device sales.
Based on Region, the Head-Up Display market is studied across North America, Europe, Asia-Pacific, The Middle East, Africa, and South America.
From 2020 to 2030, Europe is predicted to account for most of the Head-Up Display market. Europe is considered one of the primary regions for producing luxury and premium automobiles. Europe is one of the leading manufacturers of luxury and premium cars. Luxury cars such as Audi AG, Jaguar Land Rover Holdings, and Mercedes-Benz are headquartered in Europe. Because head-up displays are part of key safety features, most manufacturers of these car segments install HUDs in their European-made vehicles. The rising demand for premium or luxury vehicles, as well as SUVs equipped with HUDs, will boost the market growth in Europe.
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- Thales Group
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