Global Automotive HUD Market Revenue to Increase from 2014 Value of US$ 169.5 Mn to US$ 1,728.8 Mn by 2025
Automotive Head-up Display (HUD) is system that displays information onto a transparent screen, a combiner or a windshield in a car. This technology enables users to receive important messages and vital driving information, thus minimizing chances of potential road accidents. Apart from displaying vehicle speed and providing alerts, HUDs display navigation information and Advanced Driver Assistance System (ADAS) data, thereby providing drivers access to critical information without needing to look away from the road. HUD systems are designed to meet security needs, safety, comfort and entertainment requirements of users. Automotive HUDs are widely used in luxury, sports and premium cars. These innovative systems are gradually being adopted in midsize cars and SUVs, and are currently being considered among the most prominent driver assistance systems.
Market Value and Forecast
The global automotive HUD market is anticipated to grow at a double-digit CAGR during the forecast period. Growth of the global automotive HUD market is mainly driven by the system’s ability to enhance safety & user comfort, increasing awareness about HUD devices, rising penetration of luxury segment cars in emerging markets such as China, India and Brazil and expanding automobile industry coupled with rise in purchasing power of consumers. Moreover, the trend that follows with the growth of global automobile HUD market are product innovation, mergers & acquisitions by various companies for enhancing their market share, declining average selling prices of HUDs and adoption of new technologies such as augmented reality HUD for enhancing the user experience.
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Segmentation by Product Type
By product type, the global automotive HUD market is segmented into windshield and combiner. Out of these two segments, the combiner segment accounted for over 30% share of the global automotive HUD market in 2014. In contrast, the windshield segment market, which dominated the global automotive HUD market in 2014, is expected to remain the dominant segment by the end of 2022. However, the combiner segment is anticipated to expand at a comparatively higher double-digit CAGR during the forecast period.
Segmentation by Sales Channel
On the basis of sales channel, the global automotive HUD market is segmented into OEMs and aftermarket. Out of these segments, OEMs dominated the global automotive HUD market in 2014, and is expected to continue its dominance throughout the forecast period. The aftermarket segment accounted for over 32% market share of the global automotive HUD market in 2014.
Segmentation by Passenger Car Type
The global automotive HUD market is further segmented on the basis of passenger car type into midsize cars, premium cars, luxury cars, sports utility vehicles (SUVs) and sports car; among these, the premium cars segment dominated the global automotive HUD market in 2014. However, the SUV and sports car segments are anticipated to expand at higher CAGRs during the forecast period. The luxury car segment accounted for over 18% market share in the global automotive HUD market in 2014 and is projected to lose 130 Basis Point Shares during the forecast period.
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The global automotive HUD market has been segmented into seven major regions, namely, North America, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan, Eastern Europe, Latin America and Middle East & Africa (MEA). Of all the regions, North America dominated the market with over 32% share of the overall automotive HUD market in 2014. Western Europe closely followed North America with approximately 31% share in the global automotive HUD market, followed by APEJ. APEJ is anticipated to become the fastest growing region in the global automotive HUD market by the end of the forecast period.
Some of the key players identified in global automotive HUD market are Continental AG, Delphi Automotive LLP, Denso Corporation, JOHNSON CONTROLS, MicroVision, Inc., Nippon Seiki Co. Ltd., Robert Bosch GmbH, YAZAKI Corporation, Visteon Corporation and Harman International Industries Inc. These key players of the global automotive HUD market continue to increase their global presence by expanding into emerging markets through mergers and acquisitions and introduction of innovative products.
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