Automotive HUD market worth $1.3 billion by 2025
The automotive head-up display (HUD) market is estimated to be $759.6 million in 2017 and is projected to grow at a compound annual growth rate (CAGR) of 28.54% from 2020 to 2025. According to the report, "Automotive HUD Market by Technology (Augmented Reality and Conventional), Type (Combiner and Windshield), End-User (Economic, Luxury, and Mid-Segment), Fuel Type (ICE, BEV, and Hybrid), Vehicle Type (Passenger and Commercial), and Region - Global Forecast to 2025," published by MarketsandMarkets, the market size is expected to reach $1.3 billion by 2025. The market is driven by factors such as increasing demand for in-vehicle safety features, increase in the number of connected cars, and progress toward developing semi-autonomous and autonomous vehicles.
The augmented reality head-up display (AR HUD) is projected to be the largest segment for the automotive HUD market, by HUD technology. With low-cost HUD systems being developed for mid-sized and economical cars, OEMs are now offering the sensor technology-enabled AR HUD for enhanced in-vehicle safety in luxury vehicles. Diminishing the consumer's concern over safety, the AR HUD integrates multiple ADAS functions to provide different information, all in the driver's line of sight. Apart from the growing luxury vehicle segment, the anticipated autonomous vehicle market is projected to drive the demand for AR HUD.
Combiner HUD is anticipated to be the fastest growing segment in the automotive HUD Market, by HUD type. The combiner HUD is a compact version of the windshield HUD. The combiner requires less space for installation compared with the windshield HUD. Its compact size makes the combiner HUD an ideal fit for smaller cars. The installation of HUD in economic vehicles is projected to be driven by an increase in the adoption of combiner HUD in this segment of vehicles.
North America is projected to be the largest regional market for the automotive HUD market. North America comprises Canada, Mexico, and the U.S. The U.S. is an automotive hub, in terms of vehicle production as well as sales, and it is also the fastest country in terms of adopting in-vehicle advanced automotive technology. The demand for HUD technology such as AR HUD is directly linked to the luxury and premium vehicle production and consumer demand for the vehicles in this region. Canada is experiencing a growing consumer demand for advanced automotive electronics in the cockpit.
According to the report, the automotive HUD market is dominated by a few global HUD system suppliers and comprises several regional players. Some of the key HUD suppliers operating in the market are Nippon-Seiki (Japan), Continental (Germany), Denso (Japan), Visteon (U.S.), and Robert Bosch (Germany).
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