Head-up Display Market size is projected to reach $19.1 billion by 2027, growing at a CAGR of 20.1% from 2020 to 2027

According to a new report published by Report Ocean, titled, “Head-up Display Market by Type, Technology, End User, and Sales Channel: Opportunity Analysis and Industry Forecast, 2020–2027,” the head-up display market size was valued at $6.0 billion in 2019, and is projected to reach $19.1 billion by 2027, growing at a CAGR of 20.1% from 2020 to 2027. Europe is expected to be the leading contributor to the global head-up display industry, followed by North America and Asia-Pacific.

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Head-up display is an innovative system that projects the information directly into the users’ field of view, taking into consideration the users’ head position and viewing direction. Head-up displays project detailed information including turn-by-turn navigation, current speed, blind spot warnings, and posted road signs for automobiles, and radar contacts and aeronautical data for aircrafts. Hence, head-up display offers numerous advantages over conventional display technologies.

Enhanced safety offered by the head-up display systems majorly drives the growth of the market, as it assists to drive safely in the challenging conditions. Moreover, higher penetration rate in the aerospace sector is expected to boost the head-up display market growth as it has become an essential system in aircrafts for improved safety. Furthermore, development of connected cars, advancement of augmented reality technology, and emergence of new applications of head-up displays are expected to provide lucrative growth opportunities for the market. However, cost of head-up displays is expected to hinder the growth of the market.

The combiner-based head-up display segment was the highest contributor to the market in 2019. The combiner-based segment accounted for more than 50% market share in 2019. This type of head-up display is widely used in military and commercial aircrafts, as it plays a vital role in supporting the pilots and preventing the collision risk with terrain. Besides, increase in demand from automotive aftermarket for combiner-based head-up displays is anticipated to enhance the further market growth.

The emergence of COVID-19 pandemic has downsized the head-up display market growth. There are hardly any new orders for commercial and business aircrafts, owing to unfortunate consequences on the business during the pandemic. Besides, the new vehicle registration record very low in the year 2020. However, the demand from defense sector remains unaffected and is estimated to grow with increasing investments during the forecast period.

Region wise, the head-up display market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe accounted for a major share of the global market in 2019, and is expected to dominate the market in terms of revenue during the forecast period, owing significant demand from leading OEMs present in this region. The North America region holds the second largest share in the global head-up market, and is expected to witness significant growth during the forecast period, owing to significant investments in display and projection technologies, which in turn improves the head-up display systems.

Key Findings Of The Study

In 2019, the combiner-based segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 18.4% during the forecast period.
The conventional segment accounted for around 80.0% of the head-up display market share in 2019.
In 2019, automotive segment attributed nearly three-fourth share of the total head-up display market.
OEMs contributed major share of 67.0% in global HUD market during 2019.
Germany was the major shareholder in the Europe head-up display market, accounting for more than 10.0% share in 2019.
The key players profiled in the report include BAE Systems, Continental AG, Denso Corporation, Elbit Systems Ltd., Nippon Seiki Co., Ltd., Panasonic Corporation, Rockwell Collins, STMicroelectronics, Texas Instruments Incorporated, and Visteon Corporation. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the HUD market.

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This release was published on openPR.