Press release
Top Market Shifts Transforming the Automotive HUD Market Landscape: Key Insights
Automotive HUD Market
What Is the Expected CAGR for the Automotive HUD Market Through 2025?
In the past few years, there has been a significant expansion in the size of the automotive hud market. It is forecasted to increase from $1.55 billion in 2024 to a whopping $1.88 billion in 2025, with a compound annual growth rate (CAGR) of 20.8%. The surge in growth during the historical period can be linked to demands for luxury cars, consumer knowledge, government guidelines, the rise of electric vehicles, and overall economic development.
What's the Projected Size of the Global Automotive HUD Market by 2029?
The market size of the automotive hud is anticipated to witness considerable expansion in the upcoming years, reaching $4.17 billion in 2029 with an impressive compound annual growth rate (CAGR) of 22.0%. Reasons for this projected growth can be traced back to the increase in autonomous vehicles, the growing popularity of in-vehicle entertainment systems, a heightened emphasis on road safety, the rise in traffic bottleneck situations, and the escalation in disposable income. Key trends that will dictate the foreseeable future include the incorporation of augmented reality (ar), the advent of holographic and 3D displays, the introduction of gesture controls, the use of laser projection technology, and cooperative ventures between automobile manufacturers and tech firms.
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Top Growth Drivers in the Automotive HUD Industry: What's Accelerating the Market?
The escalating need for interconnected vehicles is predicted to accelerate the expansion of the automotive HUD market. An interconnected vehicle is characterized by its internet connectivity. Automobile HUDs heighten the security and safety of such vehicles through the employment of diverse technologies. For example, the Visual Capitalist, a data-oriented visual content platform based in Canada, projected in March 2023 that by the year 2030, a staggering 95% of all new vehicle sales will be interconnected vehicles, a significant surge from the 50% documented in 2023. Consequently, this proliferating demand for interconnected vehicles is fueling the growth of the automotive HUD market.
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Which Fast-Growing Trends Are Poised to Disrupt the Automotive HUD Market?
Progress in technology is a notable trend making waves in the automotive aftermarket. Big hitters in the automotive HUD segment are investing in the creation of state-of-the-art products to solidify their foothold in the market. For example, in January 2024, Nissan, an auto manufacturer from Japan, introduced the new member of their car series - the Nissan Ariya Engage. This compact electric crossover model aims to offer an affordable gateway into the Nissan Ariya range. It emphasizes on utility and efficiency without compromising on the innovative features typically associated with electric vehicles. Packed with Nissan's cutting-edge tech, such as driver assistance systems and connectivity capabilities, it is designed to elevate the overall driving experience. Its chic design and roomy interior make the Ariya Engage suitable for city rides, extended trips and everything in between. This vehicle embodies Nissan's dedication towards sustainable travel and their innovative stance in the electric vehicle segment.
What Are the Main Segments in the Automotive HUD Market?
The automotive hud market covered in this report is segmented -
1) By HUD Type: Windshield, Combiner
2) By Technology: Conventional HUD, Augmented Reality HUD
3) By Dimension: 2D, 3D
4) By Fuel Type: BEV, ICE, Hybrid
5) By End User: Passenger Cars, Small Cars, Compact Cars, Mid-Sized Cars, Luxury Cars, SUVs and Crossovers, Light Commercial Vehicles
Subsegments:
1) By Windshield HUD: Augmented Reality (AR) Windshield HUD, Conventional Windshield HUD
2) By Combiner HUD: Fixed Combiner HUD, Adjustable Combiner HUD
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Which Top Companies are Driving Growth in the Automotive HUD Market?
Major companies operating in the automotive hud market include Continental AG, LG Display Co. Ltd., Denso Corporation, Visteon Corporation, Nippon Seiki Co. Ltd, Panasonic Holdings Corporation, Pioneer Corporation, Yazaki Corporation, Toshiba Corporation, Garmin Ltd., MicroVision Inc., Hudway LLC., Mitsubishi Electric Corporation, Thales Group, BAE Systems, Bosch Group, Harman International, Magna International Inc., Navdy, Inc., Texas Instruments, HUDWAY, WayRay, DigiLens Inc., Continental Automotive GmbH, Renesas Electronics Corporation, Robert Bosch GmbH, Kyocera Corporation, THALES Group, E-Lead Electronic Co., Ltd., HOLOEYE Photonics AG, Tata Elxsi Limited
Which Regions Will Dominate the Automotive HUD Market Through 2029?
North America was the largest region in the automotive HUD market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive hud market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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