Head-Up Display (HUD) Market Size to Grow $19.11 Billion, Globally, by 2027 at 20.1% CAGR
As per the report, the global head-up display (HUD) industry was pegged at $6.07 billion in 2019, and is expected to reach $19.11 billion by 2027, growing at a 20.1% CAGR from 2020 to 2027.
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-As the majority of countries are still in lockdown, the demand for HUD and other display technologies is decreased.
-Most of the manufacturing companies are not working up to their full potential, which negatively impacts the market.
-Most of the raw materials and raw materials for HUD are manufactured in China. However, the ban on import-export with China imposed by China have hampered the market.
-The combiner-based segment dominated the market.
By type, the combiner-based segment held the largest share in 2019, accounting for more than half of the global head-up display market, owing to higher penetration rate of head-up displays in the aerospace and defense sector. However, the windshield-based segment is expected to register the highest CAGR of 22.8% from 2020 to 2027, due to the development of augmented reality technology.
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The aerospace segment to manifest the highest CAGR through 2027
By end user, the aerospace segment is expected to portray the highest CAGR of 24.2% during the forecast period, owing to increasing adoption of head-up displays by commercial and business aircraft. However, the automotive segment held the largest share in 2019, contributing to around three-fourths of the global head-up display market, enhanced safety features of premium vehicles.
Europe, followed by North America, held the lion's share
By region, the global head-up display market across Europe, followed by North America, held the lion's share in 2019, accounting for nearly two-fifths of the market. Moreover, the region is expected to manifest the highest CAGR of 22.0% during the forecast period, owing to presence of a significant number of OEMs.
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Major market players:
Elbit Systems Ltd.
Nippon Seiki Co., Ltd.
Texas Instruments Incorporated
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