– With expansive advancements in the automobile sector and the need for better information display, while driving, the global automotive head-up display (HUD) market is expected to garner promising growth
– The global automotive HUD market is anticipated to expand at a healthy CAGR of ~22 percent across the forecast period of 2020-2030
ALBANY, N.Y., Dec. 2, 2020 /PRNewswire/ — The automobile industry is prospering at a rapid rate. Barring the short-term negative impact on the growth of the automobile sector during the strict lockdown period, it is regaining rapidly. Factors such as rising disposable income of the global populace and the emergence of affordable passenger vehicles are leading to increased sales. This, in turn, influences the growth of the automotive head-up display (HUD) market to a great extent.
Head-up displays show varied information regarding speed, indicator arrows during navigation, or warning signals directly in the sight of the driver. S/he does not have to look constantly at the instrument cluster for obtaining information. This aspect makes head-up displays one of the most important components of any passenger vehicle, eventually inviting growth.
The researchers at Transparency Market Research (TMR), after a scrutinized study on varied aspects, conclude that the global automotive HUD market may expand at a robust CAGR of ~22 percent during the tenure of 2020-2030. The global automotive Head-up Display (HUD) market is expected to account for a value of US$ 4.7 bn by the end of the forecast period, that is, 2030.
The role of technology is crucial for the advancement of the automotive HUD market. Various advanced tools such as Augmented Reality (AR) and Artificial Intelligence (AI) are helping in adding a large number of features to the head-up display. This aspect will serve as a great growth factor for the automotive HUD market. Furthermore, the growing use of LEDs and LCDs is proving to be an additional feature for inviting growth.
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Automotive HUD Market: From Analysts View
The analysts at Transparency Market Research opine that the ongoing political tensions between two prominent revenue-generating countries, China and India may impede the growth of the automotive HUD market to a certain extent. The analysts further advise the players in the automotive Head-up Display (HUD) market to introduce both advanced and basic level HUDs to fulfill the need for premium as well as affordable passenger vehicle buyers.
Automotive HUD Market: Key Revelations
- On the basis of vehicle type, the passenger vehicle segment held a large share of the automotive HUD market
- In terms of technology, the conventional HUD segment acquired a lion’s share of the automotive HUD market
- In the context of region, Asia Pacific and Europe are prognosticated to acquire a dominant position on the back of growth contribution
Explore 364 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Automotive Head-up Display (HUD) Market (Type: Windshield HUD and Combiner HUD; Dimension Type: 2D HUD and 3D HUD; Vehicle Type: Passenger Vehicle and Commercial