A heads-up display (HUD) is an electronic display that is transparent and placed above the driver’s line of sight (LoS) on the windshield or on a separate screen. This enables the driver to easily access information like speed, warning signals, and navigational indicators while keeping their eyes on the road and obtaining real-time information. With fast advancing technological techniques and equipment, liquid crystal display (LCD) and organic light-emitting diode (OLED) are the main technologies used to create HUDs.
The market worth of head up displays in 2021 was USD 3.80 billion, and it will be worth USD 28.10 billion by 2030, growing at a 24.86% CAGR during the forecast period.
The HUD was initially developed for military and naval aircraft to provide the relevant data in the pilot’s line of sight rather than on the dashboard. For increased driver and passenger safety, this technology was further evolved into automotive head-up displays (also known as automobile head-up displays). As per the US Department of Transportation, more than 35,000 car accidents resulted in roughly 39,000 fatalities in 2020, or 12 fatal car accidents per 100,000 people.
The rising global sales of automobiles drive the market. Rising customer demand for luxury & premium vehicles with innovative display and safety features, such as HUD systems, is propelling the market’s expansion.
Market Dynamics
Drivers
Increasing adoption of head-up displays from the aerospace and defense industries, difficult driving conditions due to an increase in population, and an increase in the number of cars on the road are all factors influencing the growth of the head-up display market. The advancement of connected automobiles through cutting-edge technology will also fuel the Head-Up Display Market’s expansion in the years to come. During the projection period, escalating consumer demand for high-end, luxurious vehicles loaded with cutting-edge safety features will considerably fuel market expansion.
Restraints
The major factor limiting market growth is obtaining economies of scale or lowering the cost of production per unit. Consumer demand may remain stagnant due to relatively high selling prices.
Opportunity
HUDs are a common feature of both base and enhanced variants of electric vehicles. According to ACEA, over 1.3 million electric vehicles were sold in 2020, an increase of 135% from the previous year. As a result, with the rising need and EV sales, the demand for HUDs will also grow significantly.
Market Segmentation
By component, the demand for the display panel/unit segment will grow rapidly. The market for the segment will grow as demand for navigation and entertainment systems increases. The market is expanding due to rising consumer demand for comfort, convenience, and improved safety in vehicles, particularly in emerging economies. To increase sales, manufacturers are introducing cutting-edge infotainment systems, center controllers, gesture control systems, and telematics, boosting the market’s expansion.
By application, the demand for HUDs in the automotive industry will increase rapidly during the forecast period. Advanced HUDs are installed in premium and unique car lines by market-leading manufacturers like BMW, Volkswagen, Mercedes, and Volvo to enhance the driving experience. Mercedes HUDs are currently available in their A-Class, CLA, CLS, and GLE models. Similarly, HUDs have been developed for car models from various manufacturers, like Seltos HUD and Baleno HUD, among others.
Regional Insights
Europe significantly ruled the entire market, with the largest market share of 45.22%. The presence of major world-renowned car and aircraft manufacturers in Europe is one of the key factors driving the expansion of markets for fixed and mounted HUDs, military aircraft HUDs, and commercial aircraft HUDs. Examples of well-known aviation-aircraft manufacturers with a substantial impact on using HUDs for back-light projections in the European region include Lufthansa AG (Germany), Airbus (France), and others.
Key PlayersÂ
- Thales Group (France)
- Nippon Seiki Co. Ltd. (Japan)
- BAE Systems (UK)
- Continental (Germany)
- Panasonic Corporation (Japan)
- Texas Instruments Inc. (USA)
- Elbit Systems Ltd.
- STMicroelectronics
- Rockwell Collins (USA)
- DENSO Corporation
- Visteon Corporation
The market worth of head-up displays in 2021 was USD 3.80 billion, and it will be worth USD 28.10 billion by 2030, growing at a 24.86% CAGR during the forecast period. The inexpensive cost of the device and ease of smartphone interaction is driving the expansion of the HUD market, which improves driver safety by decreasing distractions.
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