Global Automotive HUD Market Size, Trends & Analysis - Forecasts to 2026 By Technology (Conventional HUD, and Augmented Reality HUD); By HUD Type (Combiner, and Windshield); By Dimension Type (2-D HUD, and 3-D HUD), By Vehicle Class (Economy Car, Mid-segment Car, and Luxury Car); By Vehicle (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle); By Sales Channel (OEM, and Aftermarket); By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Automotive HUD Market Insights
The global automotive HUD market will grow at a CAGR value of 23.5% during the forecast period (2020-2026). Factors such as increasing awareness in the customers regarding the safety of road and vehicle, increasing demand for high-quality luxury cars by various end-users, and high demand for improved in-vehicle experience are the drivers that are pulling the automotive HUD market at a global scale. Besides, the involvement of innovative and advanced technology in the automotive sector has further added opportunities for the HUD automotive market to excel in the projected period.
However, the Coronavirus outbreak has led to a temporary shutdown of big automotive industries globally and which further decelerated the HUD automotive market growth. Due to this setback, various OEMs are not ready to invest in technological research for a few years which leads to affect the global market share of HUD automotive.
Automotive HUD Market: By Type of Technology
Conventional and AR HUD are the two major technologies of the market. The conventional HUD segment is expected to show a considerable business in the forecast years however augmented reality HUD is projected to dominate the market due to key technologies that are raising its demand in the market. AR HUDs offer various information to drivers such as traffic conditions, exterior view of the vehicle condition, display essential safety features, and provide navigation data with GPS and warning indicators.
Automotive HUD Market: By HUD Type
Based on the HUD type, the market is segmented into a combiner and windshield. Combiners HUD is expected to dominate over the windshield HUD market in the projected period. The reason behind the combiner's HUD exceptional growth is its compact designing and ability to get projected into various locations and different positions. The presence of only a single mirror in the interior coupling up with the requirement of a small installation area even in a sports car is the boosters for the high demand for the combiner HUD segment. However, the windshield HUD segment will grow moderately over the coming years.
Automotive HUD Market: By Dimension Type
2D and 3D HUD are the dimension types in the market. The 3D HUD segment will grow faster mainly due to compact behavior, a deeper & clearer view of the field with no requirement of eye tracking in comparison to the 2-D HUD segment. In the next-generation technology of the 3-D HUD system, it offers to provide a full 3D effect and the possibility to project images at a safer distance to avoid distraction. Many HUD manufacturers are focusing their research on 3-D HUD development hence creating demand for the segment which ends up building a great business in the forecast period.
Automotive HUD Market: By Vehicle Class
Across the entire globe, the vehicle class can be seen in three different types, namely luxury, economy, mid-segment cars. The fastest-growing segment is the mid-segment car type. Many key manufacturers are focused to build mid-segment cars with combiner type of HUD to cut down the cost and the system provides suffice optical quality with increased brightness which is getting recognized by a wide range of consumers hence end up building a great business.
Automotive HUD Market: By Vehicle Type
Light & heavy commercial vehicles, and passenger vehicles are the types in the market. Passenger will hold a bigger share than others in the market as they are the cheapest and widest vehicles used by the customer. The high usage of the segment leads to increase awareness of in-vehicle safety.
Automotive HUD Market: By Sales Channel
OEM and aftermarket are the two major sales channels present in the market, out of which, the OEM market will dominate. Due to the high price and limited associated advantages of aftermarket limits its role in the next couple of years. This leads to bring OEM into the business with substitute products, autonomous cars, and changing in customers buying and driving preferences are the driving factor responsible for the OEM segment growth.
Automotive HUD Market: By Region
Based on the regional analysis, North America will continue to be the largest segment in the market as manufacturers are focused to introduce the latest display technologies like OLED and AMOLED in vehicles. US is expected to dominate the European automotive HUD market due to an increase in the production of automotive and the adoption of new technologies is triggering the market demand.
Asia-Pacific is expected to follow the market trend as of Europe in the automotive HUD business in the forecast period. With the growing demand for in-vehicle technology in countries like India and China, significant installation of windshield HUDs in mid-segment vehicles is seen in the past couple of years. Furthermore, China and India being the latest hub of the automotive HUD market are adding more market shares to the Asia-Pacific region.
Automotive HUD Market Share and Competitor Analysis
The key players operating in the market are BOSCH, Continental AG, Panasonic, DENSO, Visteon, NIPPON, Pioneer Corporation, Yazaki, Garmin Ltd., LG Display, Texas Instruments, MicroVision, Exploride, Alps Alpine, Renesas, Toshiba, and others.
Please note: This is not an exhaustive list of companies profiled in the report.
In October 2020, Continental AG is driving the electric mobility market of Volkwagen's by providing essential components required for the new VW electric model ID.3. The model supports high computer performance with safety and far from continental technologies.
In October 2019, Panasonic developed a fully automated valet parking system with the requirement of zero driver support with a large AR-HUD screen.
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The Global Automotive HUD Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Automotive HUD Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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