A news report was released this week relating to the findings of Transparency Market Research (TMR). Companies such as BAE Systems plc, Nippon Seiki Co. Ltd., Rockwell Collins Inc., and Continental AG currently lead the global head-up display (HUD) market. It is said that these players are mainly focusing on giving users a comprehensive experience through incorporating cutting-edge technologies. Many players are also taking recourse to strategic collaborations and business partnerships to strengthen their position in the market. Besides this, the leading companies are looking to add novel solutions to their portfolios to expand their geographical reach.
Research and development activities have enabled the leading companies to innovate for improving their existing HUDs in terms of wider angle of view, clarity in projection, and easy integration with other electronic devices. Such innovations are aimed at gaining the lion’s share in the market.
Two forecasts are discussed including (1) Demand for Improved Safety will Boost HUD Uptake in Automotive and Aviation Sectors and (2) High Cost of Manufacturing to Limit HUD Adoption in Mid-range Cars Segment.
Additionally, demand for HUDs is set to Increase with the Launch of Augmented Reality. TMR forecasts attractive opportunities for the market in the forthcoming years. The launch of augmented reality in automotive HUDs holds immense potential for growth. The technology will provide real-time traffic information to drivers. It will also display information from driver assistance systems such as lane departure warning and adaptive cruise control.
The HUD technology has its root in the automotive industry, witnessing robust deployment in the luxury and high-end car segment. Furthermore, TMR expects the technology to gradually penetrate in the mid-range car segment, as its cost of production decreases. This will bolster sales of head-up displays in the near future.
By applications, the aviation industry accounted for approximately 79% of the overall demand witnessed in the market. However during the forecast period from 2015 to 2022, the application of HUDs in the automotive sector is expected to rise at a faster pace. Regionally, North America led the global HUD market in 2014. Besides increasing application in the aviation sector, the rising demand for luxury cars will boost the North America HUD market at a CAGR of 19% between 2015 and 2022.
As per TMR, the global head-up display market stood at US$1.76 bn in 2014. TMR forecasts the market to reach US$7.05 bn by 2022, exhibiting a CAGR of 19.1% from 2015 to 2022.