Automotive HUD Market worth $2.4 billion by 2030 | MarketsandMarkets
Friday, May 31, 2024
CHICAGO, May 23, 2024 /PRNewswire/ -- Automotive HUD Market size is projected to grow from USD 1.2 billion in 2024 to USD 2.4 billion by 2030, at a CAGR of 12.3%, according to a new report by MarketsandMarkets. Automotive HUD solutions are in great demand due to the growing emphasis on both vehicle and passenger safety, the steady rise of high-end car segments, particularly in emerging markets, and the growing demand for better in-vehicle experiences.
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260 - Pages
Automotive HUD Market Scope:
Report Coverage
Details
Market Revenue in 2024
USD 1.2 billion
Estimated Value by 2030
USD 2.4 billion
Growth Rate Poised to grow at a CAGR of 12.3%
Market Size Available for
2020-2030
Forecast Period
2024-2030
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered HUD Type, Technology, Level of Autonomy, Offering, Vehicle Type, Propulsion Type, EV Type,
Vehicle Class, and Region
Geographies Covered
Asia Pacific, North America, and Europe
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Increasing demand for semi-autonomous vehicles
Key Market Drivers Steady growth in demand for luxury and high-end segment cars, mainly in emerging markets
BEV segment is expected to have largest share in the global automotive HUD market.
Government agencies and OEMs are launching programs to encourage the usage of electric vehicles (EVs) in response to the daily rise in vehicle emissions. BEVs are EVs that get their power from chemical energy kept in rechargeable battery packs. Advancements in battery technology are essential to the expansion and prosperity of BEVs. As a result, a large number of automakers are spearheading the development of battery technology. With over half of all sales worldwide, China continues to be largest market for BEVs, although BEV usage in Europe has been expanding quickly. OEMs are making an effort to provide better driving experiences as the use of BEVs grows. HUDs are even more important for guaranteeing a safe driving experience when driving an electric vehicle (EV), as drivers may need extra information on energy use and charging facilities. HUDs are standard on a few vehicles, including the BMW iX BEV, Audi Q4 e-tron, Mercedes-Benz S-Class, and Porsche Macan EV.
3D HUD segment is expected to have significant growth opportunities in global automotive HUD market.
During the forecast period, the 3D HUD category is expected to present considerable growth prospects.
Customers will have a more engaging driving experience because of the ease with which 3D HUD may incorporate AR features. In order to give drivers a thorough awareness of their surroundings, augmented reality features can include dynamic navigation overlays, virtual lane assistance, and the ability to indicate potential hazards on the road. AR technology is a major emphasis for several automotive HUD suppliers. Due to the abovementioned factors, the 3D HUD industry is anticipated to increase significantly in near future. 3D HUDs are being developed by many HUD manufacturers, such as WayRay AG, Continental AG, Panasonic Holdings Corporation, and Visteon Corporation, as well as component suppliers, such as NVIDIA and Zecotek. The advanced technologies like ADAS are becoming more widely used and augmented reality technology like HUDs is receiving more attention. The 3D HUD market's revenue growth in this area is expected to be supported by all these factors.
"China to lead the automotive HUD market in Asia Pacific."
China is the largest vehicle market in the Asia Pacific and one of the biggest automobile markets worldwide, is expected to have significant growth in the automotive HUD industry. Due to changes in investment policies, including the relaxation of labor constraints and the lowering of labor costs, as well as the nation's expanding demand for passenger automobiles, domestic car production has expanded. Regulations controlling vehicle safety are another factor driving the nation's ADAS industry. Since 2021, the government has issued new ADAS requirements, mostly pertaining to blind spot detection and lane keep assist devices. China's HUD solution providers are expected to have greater opportunities due to these guidelines. OEMs such as BYD, Chery, Geely, SAIC among others provide cars with HUDs in China.
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Automotive HUD Market Dynamics:
Drivers:
1. Steady growth in demand for luxury and high-end segment cars, mainly in
emerging markets
Restraints:
1. Requirement for greater space in automotive cockpits
Opportunities:
1. Increasing demand for semi-autonomous vehicles
Challenge:
1. Optical Challenges in head-up disp lay systems
Key Market Players of Automotive HUD Industry:
Prominent players in the Automotive HUD Market include Nippon Seiki Co. Ltd. (Japan), Continental AG (Germany), DENSO Corporation (Japan), Panasonic Holdings Corporation (Japan), and Foryou Corporation (China), among others.
The break-down of primary participants is as mentioned below:
-- By Company Type: Automotive HUD Manufacturers - 60%, OEMs - 20%, and
Tier 2 -20%,
-- By Designation: CXOs- 23%, Manager - 43%, and Executives - 34%
-- By Region: North America - 30%, Europe - 45%, and Asia Pacific - 25%
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Automotive HUD Industry Recent Developments:
-- In March 2024, Panasonic Holdings Corporation and Mazda Motor
Corporation partnered and installed full-display meters for the CX-70
model of Mazda Motor Corporation. The CX-70 integrates a large 12.3-inch
display, showcasing graphics of the vehicle conditions, such as speed
and warnings. It adapts in real-time to offer drivers timely and
pertinent information, enhancing their safety and driving experience.
-- In February 2024, Nippon Seiki Co., Ltd. and FPT Software partnered to
develop automotive HUD platforms and applications for automobiles and
motorcycles.
-- In July 2023, Panasonic Automotive Systems Co., Ltd., Holding of
Panasonic Holdings Corporation, announced that its intelligent room
mirror (electronic mirror), linked with a drive recorder and HUD, has
been adopted for the new Nissan Serena e-Power. The HUD linked with the
mirror uses a 2-megapixel camera, a high-resolution display, and
proprietary image processing technology to achieve high-definition
images and improved nighttime visibility.
Automotive HUD Market Size - Key Benefits of Buying the Report:
-- The report will help the market leaders/new entrants in this market with
information on the closest approximations of the revenue numbers for the
overall automotive HUD market and the subsegments.
-- This report will help stakeholders understand the competitive landscape
and gain more insights to position their businesses better and to plan
suitable go-to-market strategies.
-- The report also helps stakeholders understand the market pulse and
provides information on key market drivers, restraints, challenges, and
opportunities.
This report provides insights on:
-- Analysis of key drivers (Increasing awareness about passenger and
vehicle safety, demand for enhanced in-vehicle experience, rising demand
for connected vehicles, steady growth in demand for luxury and high-end
segment cars, mainly in emerging markets), restraints (Requirement for
greater space in automotive cockpits, lack of luminance and high-power
consumption), opportunities (Increasing demand for semi-autonomous
vehicles, rising penetration of electric vehicles, introduction of
portable HUDs at lower prices in low and middle-segment cars, increasing
investment in automotive head-up displays), and challenges (Optical
Challenges in head-up display systems, integration with existing
infrastructure) influencing the growth of the automotive HUD market
-- Product Development/Innovation: Detailed insights on upcoming
technologies, research & development activities, and new product &
service launches in the automotive HUD market
-- Market Development: Comprehensive information about lucrative markets -
the report analyses the automotive HUD market across varied regions.
-- Market Diversification: Exhaustive information about new products &
services, untapped geographies, recent developments, and investments in
the automotive HUD market
-- Competitive Assessment: In-depth assessment of market shares, growth
strategies, and service offerings of leading players like Nippon Seiki
Co. Ltd. (Japan), Continental AG (Germany), DENSO Corporation (Japan),
Panasonic Holdings Corporation (Japan), and Foryou Corporation (China),
among others in the automotive HUD market
Related Reports:
Automotive Interior Market - Global Forecast to 2028
Augmented Reality Automotive Market - Global Forecast to 2025
Multi Domain Controller Market - Global Forecast to 2030
Autonomous / Self-Driving Cars Market - Global Forecast to 2030
Get access to the latest updates on Automotive HUD Companies and Automotive HUD Industry Growth
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