Automotive HUD Market Worth $1.33 bn by 2021
The report ‘Automotive Head-up Display (HUD) Market by HUD type (Windshield & Combiner), Application (Premium, Luxury & Mid Segment Cars) and by Geography (Asia-Oceania, Europe, North America & RoW) – Industry Trends and Forecast to 2021’, The global market is projected to grow at a CAGR of 21.67%, to reach a market size of $1.33bn by 2021. The base year for the study is 2015, and the forecast period is 2016 to 2021.
The Automotive Head up Display Market is primarily driven by stringent safety norms and the increasing global demand for convenience and comfort.
The demand for premium and luxury passenger cars is set to grow at a high rate during the forecast period, particularly in emerging economies. For instance, despite the restrictive 2016 budget in India, the market size is projected to reach twice the current volume by 2020. German auto brands such as Mercedes-Benz, BMW, and Audi are expected to dominate the Indian luxury car market.
The North American and European regions impose stringent emission and safety regulations. Various automakers are incorporating active and passive safety systems to comply with these norms and to reduce the possibility of accidents. Safety features in a car currently drive consumer buying behaviour around the world. The head up display decreases distraction while driving, and therefore acts as an important safety feature. Thus, growing safety awareness will likely spur the demand for automotive head up displays.
Combiner projected head up display: Gaining traction in mid-segment passenger cars
The combiner projected head up display is essentially a compact version of the windshield projected head up display. The former requires less installation space than the windshield projected head up display. In a combiner projected head up display, the information is displayed on a small, translucent screen mounted on the dashboard of the vehicle.
The Asia-Pacific combiner projected Head up Display Market is projected to register the highest growth, followed by the North American market, by 2021. Currently, combiner projected head up displays, which are supplied by Robert Bosch GmbH, Continental AG, and Visteon Corporation, are available in vehicle models from Peugeot, Mini, and Mazda.
Growth in the luxury and premium car segments: Key driver of the windshield projected Head up Display Market
The windshield projected head up display is an advanced technology that is offered as a standard feature in some luxury cars and an optional feature in various other segments. The North American windshield projected Head Up Display Market is estimated to record the largest market size, and is projected to grow from 502.9 thousand units in 2016 to 1,745 thousand units by 2021. Europe is estimated to constitute the second-largest market, followed by Asia-Pacific. Tier-1 suppliers such as Continental AG, Nippon Seiki Co. Ltd., and Denso Corporation are focusing on cost reduction to enable this feature to be incorporated in lower priced models.
The report covers all the major players in the Automotive Head up Display Market, including companies such as Nippon Seiki (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K.), and Visteon Corporation (U.S.).
It analyzes the Automotive Head up Display Market, in terms of volume (‘000 units) and value (USD million). It explains the qualitative and quantitative aspects of the market on the basis of region, application, and head up display type from 2016 to 2021.