Automotive HUD Market to Grow at a CAGR of 30.4% | MarketsandMarkets

According to the new market research report "Automotive HUD Market by Technology (AR-HUD, Conventional HUD), HUD Type (Combiner, Windshield), PC Class (Economy, Mid-Segment, Luxury), Level of Autonomy, Dimension, Vehicle Type, Sales Channel, EV Type, and Region", Published by MarketsandMarkets™, 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.

Technological advancements in current generation automotive cockpit electronics along with the increasing trend of connected and autonomous vehicles are further expected to drive the Automotive HUD Market. The HUD technology is evolving from a conventional HUD to an augmented reality HUD. The augmented reality HUD overlays the external environment of the vehicle with virtual imagery that appears to be a part of the driving situation. This type of HUD highlights the street signs, enables advanced navigation that appears as arrows flowing over the road, and detects and illuminates the vehicles ahead to alert the driver of the distance between vehicles. This is again expected to always keep the driver alert and enhance the user experience. These advanced HUD functions are also projected to play a significant role in developing fully autonomous driving technology.

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The COVID-19 pandemic has resulted in halted production and plunging sales and has forced the key players in the global automotive field to rethink their strategies. Rescheduling the launch of models and projects, stabilizing dealer networks, managing cash carefully, and reviewing investment portfolios have affected the production and sales of passenger and commercial vehicles across the globe, which has resulted in a dip in the Automotive HUD Market in 2020 as compared to 2019. The development and implementation of safety features are expected to slow down as well.

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3D HUD segment, by technology, is estimated to be the fastest-growing automotive head-up display (HUD) market during the forecast period.

The 3-D HUD technology is attractive to leading auto manufacturers because it is compact, does not require eye tracking, and provides a deeper field of view than the existing HUD displays. With glasses-free 3-D technology, next-generation HUD units offer the possibility of full 3-D effects, projecting the images seen by drivers at safer distances from the windshield, therefore, causing less distraction. The 3-D AR HUD can display information at different distances depending on the driving speed (e.g., 40 m ahead when driving at 40 km/h in urban areas, 80 m ahead when driving at 80 km/h on highways).

The presence of any object can be detected with the help of 3-D projecting using sensors. This visually alerts the driver in advance, giving the driver additional time to make judgments and control the vehicle. Thus, the 3-D AR HUD is expected to reduce the accident rate and make driving safer. Currently, many HUD manufacturers, including WayRay, Continental, Visteon, Panasonic, and component providers, such as NVIDIA and Zecotek, are working on the development of 3-D and augmented reality HUDs. In 2021, Panasonic developed a new Augmented Reality (AR) HUD, wherein its latest advances in optics, volume optimization, and imaging technology, combined with AI technology from its SPYDR cockpit domain controller were utilized to render near-field and far-field content for vehicle information (like speed), object and pedestrian detection, and mapping/route guidance, for a seamless, more engaged, and informed driver experience. These factors will boost the growth of the 3-D HUD market.

The luxury car segment, by passenger car class, is estimated to hold the largest market share during the forecast period.

The luxury car segment makes a major contribution to the automotive head-up display (HUD) market. The luxury car segment includes brands like Audi, BMW, Land Rover, Mercedes Benz, and Jaguar, which are generally priced higher than USD 50,000. The luxury car segment integrates windshield HUD in the vehicle, as the market is less price-sensitive, which gives attractive profit margins. Many OEMs are now offering the HUD as a standard feature in premium models and their variants.

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The windshield is estimated to be the largest market for automotive HUD in 2022

Windshield HUD's safety-enhancing features such as LDWS, blind spot detection, navigation, and speed metrics in the driver's field of view have made the driving experience even richer. With technological advancements in the automotive industry progressing at a rapid pace, the integration of a wider range of advanced driver assistance systems in the windshield HUD is projected by 2027. The technological innovation in the product and the safety features attached to it would increase the demand in this segment. The Asia Pacific and Europe hold a major share in this segment due to the high production of luxury vehicles in these regions and the increasing demand from consumers for advanced safety and convenience in-vehicle features. Despite the high price of windshield HUDs, suppliers continue to invest heavily in full-windshield HUD systems, adding advanced features such as augmented reality.

Europe is estimated to be the largest market for automotive HUD in 2022

Europe is expected to account for the largest market share by 2022, followed by the Asia Pacific and North America. The automotive industry is one of the key industries in Europe. As per the European Commission, there are about 180 automobile facilities across the EU, and the automobile industry represents the largest investor in research & development. The European region is a hub for automotive giants and premium vehicle manufacturers. However, in recent years, it has witnessed a slump in the production of vehicles and an increase in competition from emerging markets such as the Asia Pacific and the Rest of the World. The major growth drivers of the Automotive HUD Market in the region include the growing demand for technology, the rising need for a safe and secure driving experience, and an increase in the development of connected cars. Germany is estimated to account for the largest share of the European Automotive HUD Market, by value and volume, during the forecast period. The market growth can be attributed to the increasing demand for advanced automotive in-vehicle electronics. The presence of key automotive players such as Continental AG enhances the market's first mover advantage with advanced automotive applications. In addition, the German commercial vehicle market is expected to adopt augmented reality HUDs at a faster pace compared to other developed countries.

The Automotive HUD Market is dominated by globally established players such as Robert Bosch (Germany), Continental (Germany), DENSO (Japan), Visteon (US), Nippon Seiki (Japan), Panasonic (Japan), Pioneer (Japan), and Yazaki (Japan).

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