Press release
Augmented Reality will Revolutionize the Concept of Head-up Displays, Says TMR
Research and development activities have enabled the leading companies to innovate for improving their existing HUDs in terms of wider angle of view, clarity in projection, and easy integration with other electronic devices. Such innovations are aimed at gaining the lion’s share in the market.
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Demand for Improved Safety to Boost HUD Uptake in Automotive and Aviation Sectors
The demand for head-up display mainly arises from the automotive and defense & aviation sectors. In the automotive sector, demand for these products has been surging rapidly from the high-end and luxury cars segment. The increasing demand for improved safety systems in aircrafts and automobiles is another key factor aiding the uptake of HUDs. “The automotive industry witnesses cut-throat competition, which is compelling manufacturers to explore technological innovations as a key strategy for competitive advantage. This is in turn fueling demand for HUDs from the industry as they enhance road safety by displaying critical information,” said a lead TMR analyst.
HUDs have been incorporated in combat aircrafts since decades. Due to the surging air traffic, their use in civil aircrafts is also expected to increase gradually. This recent development will in turn create opportunities for increased HUD sales. “Strong growth witnessed in the luxury car segment across emerging economies will also boost the incorporation of HUDs in the forthcoming years,” added the TMR analyst. The demand for luxury cars is rising at a robust pace in India, Brazil, China, Mexico, and Russia. All these countries boast a growing economy, rising disposable income levels, and changing demographics, which are key factors fuelling demand for HUDs.
High Cost of Manufacturing to Limit HUD Adoption in Mid-range Cars Segment
Despite witnessing favorable growth opportunities, high cost of manufacturing is restraining the adoption of HUD around the world. Until recently, the application of HUDs was limited to the defense and military sector, because only government could afford the high investment required for its production. Despite the technology gaining a footprint in the automotive sector, small and medium scale manufacturers are yet to participate in the popular trend. The technology was thus able to attract only large manufacturers. This in turn has led to the limited deployment of HUDs.
Demand for HUDs to Increase with the Launch of Augmented Reality
Nevertheless, TMR forecasts attractive opportunities for the market in the forthcoming years. The launch of augmented reality in automotive HUDs holds immense potential for growth. The technology will provide real-time traffic information to drivers. It will also display information from driver assistance systems such as lane departure warning and adaptive cruise control.
The HUD technology has its root in the automotive industry, witnessing robust deployment in the luxury and high-end car segment. Furthermore, TMR expects the technology to gradually penetrate in the mid-range car segment, as its cost of production decreases. This will bolster sales of head-up displays in the near future.
By applications, the aviation industry accounted for approximately 79% of the overall demand witnessed in the market. However during the forecast period from 2015 to 2022, the application of HUDs in the automotive sector is expected to rise at a faster pace. Regionally, North America led the global HUD market in 2014. Besides increasing application in the aviation sector, the rising demand for luxury cars will boost the North America HUD market at a CAGR of 19% between 2015 and 2022.
As per TMR, the global head-up display market stood at US$1.76 bn in 2014. TMR forecasts the market to reach US$7.05 bn by 2022, exhibiting a CAGR of 19.1% from 2015 to 2022.
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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