Last week, an article on Global LEDs/OLEDs discusses the global head-up display (HUD) market, as it has been analysed by Transparency Market Research in their recent report.
Significant points in the article include:
- It is predicted that the global HUD market will increase at a compound annual growth rate (CAGR) of 19.1% between 2015 and 2022
- In 2014, the global HUD market was valued at $1.76 billion; this is expected to increase to $7.05 billion by the end of 2022
- By application, the market is divided into aviation, automotive, and others
- In 2014, the aviation segment accounted for over 79% of the total demand for HUDs; however, the automotive segment is predicted to grow most quickly during the forecast period
- Currently, HUDs are integrated in premium cars and sports cars, although it is yet to be incorporated into mid-range cars
- HUDs have been integrated in military aircrafts for many decades, but have recently been introduced to helicopters and civil aircrafts
- Market drivers include: increased demand for active safety systems in aircrafts and automotive, technological developments of Augmented Reality in HUDs, high military modernisation, and increased luxury car industry
- Limitations of the market include: the high cost incurred on producing HUDs,
- In 2014, North America was the largest market for HUD; the region has many driving factors for the HUD market
- Europe was the second-largest HUD market in 2014 due to the involvement of luxury car manufacturers such as BMW AG, Audi, and Mercedes Benz
- The Asia Pacific HUD market is predicted to have the highest CAGR from 2015 to 2022 (19.4%) due to increased demand for high-end cars
Key players in the global HUD market include:
- BAE Systems PLC
- Rockwell Collins Inc.
- Thales Group
- Delphi Automotive PLC
- Yazaki Corporation
- Microvision Inc.