GLOBAL AUTOMOTIVE HUD MARKET TO ATTAIN A MARKET SIZE OF USD 2.76 BILLION BY 2024, GROWING AT A CAGR OF 22.8%. WINDSHIELD HUD TO DOMINATE THE MARKET DURING THE FORECASTED PERIOD (2018-2024)
As per the report published by UnivDatos Market Insights (UMI), the global automotive HUD market is anticipated to gain market worth of USD 2,756.7 million by 2024, expanding at a CAGR of 22.8% in the forecasted period 2018-2024. Windshield HUD and Combiner HUD are the major product category of the automotive Head-Up display technology. In 2017, windshield HUD dominated the global automotive HUD market and is anticipated to generate a market size of US$ 656.5 million by 2020. On the other hand combiner HUD segment is anticipated to expand at highest CAGR growth of 25% during the analyzed period. Evolving vehicle technology and increasing demand for high-end luxury and mid-sized vehicles are considered to be the key growth drivers for the global automotive HUD market. Moreover, surging adoption of advanced driver assistance system (ADAS) technology due to rising consumer interest and stringent government regulations for safe driving further adds value to the overall market growth.
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Ever growing interest of consumers towards the safety and comfort owing to the overall increase in disposable income, which have influenced the consumers to spend more on technologically advanced products in their vehicles is further accelerating the demand of the technology in high-end vehicles and SUVs. Based on the technology market is segmented into augmented reality and conventional technologies. Augmented Reality HUD, dominated the market in 2017, with an overall market share of 68%, however, rises in adoption of conventional technologies in the mid-priced and economic vehicle segment is expected to propel its demand, making it the fastest growing technology during the forecasted period. Whereas, augmented reality HUD technology is expected to maintain its dominance during the same period. The segment is forecasted to generate a revenue size of US$ 1,767.9 million by 2024. Augmented reality HUD is smaller and lighter, compared to that of conventional HUD, thus making it easier to be integrated in vehicles. Some of the Key players operating in the Augmented Reality HUD market are Continental, Bosh, Nippon Seiki, Visteon Corporation, and Denso Corporation.
OEM’s and Aftermarket sales are the two major channels of sales for the automotive HUD sector analysed during the study. OEM’s sales channel were the largest market for the automotive HUD technology, followed by aftermarket sales channel, which is estimated to witness highest CAGR growth of 24.6% during the forecasted period 2018-2024. In 2017, North America dominated the OEM sales channel segment market, however, Asia-Pacific region is expected to become the largest market post 2019.
Additionally, HUD technology is rapidly capturing every segment of vehicles manufactured, including luxury vehicles, premium cars and SUVs, among others. Luxury brands such as Audi, BMW, Lexus, land Rover and Mercedes-Benz among others are offering a HUD system as a standard or optional add on features across their premium vehicles. The growing interest of customers for advance safety features across the premium vehicle segment has forced the global car manufacturers to install smart features including head-up display in their upcoming model. Premium car segment dominated the adoption of HUD technology for safe and secure riding, followed by Luxury and SUV segments. Luxury car segment is expected to grow at highest CAGR of 25.2% during the forecasted period 2018-2024.
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Additionally, for better investigation and penetration of 3D printing solutions the report bifurcates the global 3D printing technology market into distinct region and countries including North America (U.S., Canada, Mexico and rest of North America), Europe (Russia, Germany, France, U.K., Italy, Spain and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and rest of Asia-Pacific) , Latin America (Brazil, Argentina, Chile and Rest of Latin America) and Middle East and North Africa( UAE, Saudi Arabia, Kuwait,, Qatar, Algeria, Egypt and rest of Middle East and North Africa). In 2017, North America dominated the global automotive Head-up display market, however, Asia-Pacific region is anticipated to overtake North America to become the largest market for automotive HUD technology. Increasing manufacturing of vehicles in countries such as India, Thailand and China paired with increasing demand for safety features in vehicles among the Asian consumers would surge such high growth potential for the technology in the Asia-Pacific region. Asia-Pacific automotive HUD market is expected to witness CAGR growth of 22.7% during the analyzed period.
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Some of the major companies profiled in the global automotive HUD study include Aptiv PLC, Continental AG, Denso Corporation, Harman International industries Inc., Nippon Seiki Co Ltd, Panasonic Corporation, Robert Bosh GmbH, TomTom NV, Visteon Corporation and Yasaki Corporation. These players consistently aim to focus on product development, new product launch and enhance their existing portfolios to expand their customer base and strengthen their market position through partnerships and collaborations which further offers them growth opportunities for geographic expansion
Market Insights, by Product Type
- Windshield HUD
- Combiners HUD
Market Insights, by Technology
- Augmented Reality
Market Insights, by Sales Channel
Market Insights, by Vehicle Type
- Luxury Cars
- Passenger Cars
- Commercial Vehicles
Market Insights, by Region
- North America Automotive HUD Market
- The US
- Rest of North America
- Europe Automotive HUD Market
- The UK
- Rest of Europe
- Asia-Pacific Automotive HUD Market
- South Korea
- Rest of Asia-Pacific
- MENA Automotive HUD Market
- The UAE
- Saudi Arabia
- Rest of MENA
- Latin America Automotive HUD Market
- Rest of Latin America
- Aptiv Plc
- Audi AG
- Continental AG
- Daimler AG
- Denso Corporation
- Harman International industries Inc.
- Robert Bosh Gmbh
- TomTom NV
- Visteon Corporation
- Yasaki Corporation