Head-up display market growing, but manufacturing costs could limit adoption
The global head-up display (HUD) market has a fragmented landscape, according to Transparency Market Research (TMR) in a recent report examining the market. Some of the key players operating in the head-up display market are Continental AG, BAE Systems plc, Nippon Seiki Co. Ltd., Rockwell Collins Inc., and Thales Group. These key players are focusing on product innovation by increasingly adopting strategies such as merger and acquisition to improve their product portfolio and business expansion, as well as investing in research and development activities for the development of novel devices.
According to the report, the global HUD market stood at $1.76 billion in 2014 and is expected to expand at a compound annual growth rate of 19.1% to reach $7.05 billion by 2022 over the forecast period from 2015 to 2022. Based on application, the aviation industry accounted for approximately 79% of the market. Based on the region, North America dominated the global HUD market in 2014.
Head-up displays are transparent displays that present information and data to guide the driver and ensure safety. HUDs also provide comfort and entertainment features and are designed to minimize driver distraction. The devices assist drivers by allowing easy access to road, vehicle, and travel information, and they help to reduce the number of accidents. These factors are boosting adoption by consumers and are expected to fuel the growth of the global head-up display market.
In addition, the growing demand for safety systems and luxury facilities in high-end cars is boosting adoption of HUDs and is likely to drive the growth of the HUD market. Widening application of HUDs in automobile, civil aviation, gaming, sports and infotainment applications, and military and aviation purposes are augmenting the growth of the market.
Despite these growth prospects, the high cost of manufacturing is hampering the growth of the head-up display market. However, the technology, which until recently only attracted large manufacturers in the automotive industry, now is filtering into smaller companies operating in the industry to ensure safety while driving. Companies are investing in research to improve the existing displays. The launch of portable HUDs at lower prices may spur the growth of HUDs in the low and middle car segments and create lucrative growth opportunities for key players by the end of the forecast period.
Download the table of contents for the report at https://www.transparencymarketresearch.com/report-toc/1278.