Automotive Head-Up Display Market Report by Type, Technology, Vehicle Type, End-User, Geographical Outlook, Industry Analysis and Growth Forecast to 2025
The automotive head-up display market has also been categorized into augmented reality and conventional technologies. Of the two, the conventional head-up display technology is expected to hold the larger market share in 2025. Furthermore, among different vehicle types, which include internal combustion engine (ICE), plug-in electric vehicle (PEV), and hybrid electric vehicle (HEV), the PEV category is expected to witness the fastest growth in the market during the forecast period. This can be mainly attributed to the growing demand and increasing government support for fuel-efficient and eco-friendly vehicles, especially PEVs.
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Geographically, Asia-Pacific (APAC) is expected to be the largest revenue contributor in the automotive head-up display market during the forecast period, owing to the rising automobile production in the region and the growing adoption of combiner-projected head-up displays in mid-segment cars. Moreover, several American and European vehicle manufacturers have shifted their manufacturing plants in developing countries of the APAC region. Mid-segment cars are expected to be the key application area for the installation of head-up displays during the forecast period on account of the declining cost of these devices. Furthermore, the growth in the automotive industry in developing economies, such as China, Japan, and India, is expected to drive the automotive head-up display industry.
The growing adoption of the ADAS system, supported by the government mandate on its incorporation in automobiles, is a key driver for the growth of the automotive head-up display market. Head-up display is one of the main components that are incorporated into the ADAS system for improved driving experience and vehicle safety. Government in many countries have, thus, passed regulations for the incorporation of the ADAS system in automobiles. These mandatory regulations are expected to benefit the market during the forecast period. In addition, growth in the automotive industry and increasing vehicle production across the world are expected to drive the market growth in the near future.
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The global automotive head-up display market is fairly competitive owing to the presence of several players. Key market players are increasingly investing in research and development to incorporate advanced features in head-up displays. Some of the leading vendors in the market are Robert Bosch GmbH, DENSO Corporation, Nippon Seiki Co. Ltd., Visteon Corporation, and Continental AG. Other important players in the industry include Panasonic Corporation, Yazaki Corporation, Harman International Industries Inc., Garmin Ltd., and MicroVision Inc.
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