Head-Up Display Market Projected to Grow at Steady Rate through (2020)
Previously HUDs were developed using cathode ray tube (CRT) technology, but nowthey are available with liquid-crystal display(LCD) technology. Advancements in personal digital assistant (PDA) devicesand smartphones have triggered the development of HUD technology, as these small electronic gadgets or components can be used to complement improved HUD for various other applications.Besides these advancements, new prototypes have been developed for implementing this technology in two-wheeler helmets and on-board diagnostic features, thus opening up new scope for applications.There are various advantages of HUD.It allows driversand pilots to concentrate on their path and simultaneouslyread any important operational informationon display, minimizes the possibility of accidents and provideseasy access to information. Amajor concern for head-up display is that it may create a distraction while driving, if a text or voice message is flashedincessantly. In the automobile industry, such devices are supported by portable multimedia which can read or display emails, which too can cause distraction.
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Major factors driving the growth of HUD market include an increasing awareness about active safety systems in automobile and aircraft business and the increasing demands of premium and luxury cars, as HUD acts as a value-added feature for these cars. HUD technology is still in its initial stage of development, hence requiresa huge amount of investment on research &development activities, which is a restraining factor for new entrants to enter the market.
Market segmentation of head-up displays can be done on the basis of region, components, technology and applications. Geographically, the HUD market can be dividedinto four regions - North America, Latin America, Asia-Pacific, Japan, Western Europe, Eastern Europe and Middle East & Africa Europe is the leader in global HUD market. By components,it’s further segmented into projection unit, video generator, display panels, combiners and others. HUDs were primarily used in militaryand civil aviation, but now used by the automobile industry too. Apart from these applications, it’s alsoused in aerospace technology. Technological segmentation includes optical waveguides, LED and cathode ray tube technologies.
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At present, the penetration of this technology is below5% in the automobile industry, but the market for this technology is expected to grow rapidly in the near future due to a growing awareness onsafe driving. The market is expected to grow at a double-digit rate in the coming Six years. Some of the major players are Recon Instruments, Toshiba Electronics, Continental and Johnson Controls. Recon Instruments received a significant amount of investment from Intel Capital, which they utilized for marketing, product development and global sales expansion activities. Continental, another key player in the HUD market, recently introduced an augmented reality head-up display (AR-HUD), the next step in the evolution of the HMI (human machine interface), which works as facilitator between drivers and vehicles. Product development and innovation is the common marketing strategy used by key players in this market.
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