Automotive HUD Market to Grow at 30.4% CAGR from 2022 to 2027

"Increasing demand for connected vehicles to fuel the demand for the automotive HUD"
The global automotive HUD market is projected to reach USD 3.9 billion by 2027 from USD 1.0 billion in 2022, at a CAGR of 30.4% during the forecast period. The increase in the variety of connected features available in a passenger car and the safety and convenience attached to them have increased the demand for connected vehicles that provide superior convenience, comfort, and entertainment. The increase in the time spent inside a car due to traffic congestions has increased the demand for in-car connected features. Advanced HUDs are an indispensable part of connected vehicles. Connected cars provide audio and visual entertainment from infotainment units and enhance the driving experience by providing convenience and safety features such as navigation, real-time traffic, and parking space updates. Today, cars also have wireless connectivity systems for the timely upgrade of the operating systems. The increase in the demand for connected car solutions is thus expected to drive the automotive head-up display (HUD) market.

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"Mid-segment car segment is projected to be the fastest-growing vehicle class during the forecast period."
Toyota, Nissan, Honda, and Ford are the leading manufacturers of mid-segment cars, which are priced generally between USD 25,000 and USD 50,000. Mid-size segment cars are mostly integrated with combiner type of HUD because of the high cost attached to the installation of windshield projected HUD. Combiner HUDs offer cost-effective systems with a compact field of view and limited color definition. For the mid-segment market, combiner HUD system features suffice optical quality and increased brightness. This technology satisfies OEM's compact space requirements, thereby increasing the adoption and demand of the technology. The combiner type HUD, in contrast to windshield HUD, utilizes a small plastic screen between the steering wheel and the windscreen and is smaller and significantly more cost-effective. The Asia Pacific region is projected to increasingly adopt this technology as North America and Europe have already adopted this technology. The Asia Pacific HUD market for mid-segment cars is expected to hold the largest share as the region has a higher volume of production.
"The conventional HUD segment is estimated to be the largest automotive HUD market, by technology"
Conventional HUDs were initially developed for aviation and military applications; however, this innovation has slowly made its way into the automotive industry and is currently being considered among the prominent driver assistance systems. HUDs in airplanes display information regarding the position, radar information, flight path, acceleration, and real-time position, which helps pilots to react instantly. HUDs in automobiles display GPS information, speed, and engine details on the windshield. The Asia Pacific region is projected to be the fastest-growing conventional HUD market during the forecast period. The major focus on the adoption of safety systems by Japanese and Chinese automotive OEMs is expected to drive the demand for conventional HUDs in the region. Japanese OEMs such as Honda and Toyota offer major ADAS features as standard across models, enabling drivers to monitor the surroundings of the vehicle without having to glance at the instrument clusters. ADAS warnings are displayed on the head-up display for a distraction-free driving experience.
"North American automotive HUD market is estimated to grow at a significant rate during the forecast period."
As the demand for augmented reality is expected to increase during the forecast period, manufacturers of these components are contemplating introducing the latest display technologies such as OLED and AMOLED in vehicles. The US is expected to lead the automotive HUD market in the North America region due to the increase in automotive production and the developed market for advanced technologies. In addition, the region is witnessing a steady growth of semi-autonomous vehicles due to high investment in research & development. This would also act as a catalyst for the automotive HUD market. Further, the increasing penetration of advanced electronics is expected to fuel the demand for automotive HUD systems. Mexico is estimated to be the second-largest North American automotive HUD market in 2022. Canada is estimated to account for the smallest share of the North American automotive HUD market in 2022. However, the growing demand for premium in-vehicle safety and comfort features to reduce driver distraction and improve communication between the driver and the vehicle are expected to create growth opportunities for the Canadian automotive HUD market.

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