|Study Period:||2018 - 2026|
|Fastest Growing Market:||Europe|
|Largest Market:||North America|
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The automotive head-up display (HUD) market registered about USD 1 billion in 2020, and it is expected to register a CAGR of over 24% during the forecast period, 2021-2026.
With the global dip in new automotive sales and used automotive vehicle sales due to the COVID-19 pandemic, the head-up display market has seen a downward curve in terms of market value. With no sales being registered, the research and development of new technology that can be employed in the technology were carried out remotely, but the chip fabrication was halted due to the shutting down of assembly lines. Post the pandemic, with the estimation of an increase in new vehicles and used automotive sales, the market expects to grow and increase the economics of the market.
- Head-up displays have been popular since the mid-20th century and were primarily used in aircraft. However, during the 1950s, attempts were made to test this technology for cars. Currently, most of the luxury car manufacturers, such as BMW, Audi, Volvo, Mercedes-Benz, etc., equip their vehicle model range with HUD.
- The HUD market is expected to achieve high growth rates across the world. The technology is not entrenched and is still in the growing phase in many of the developing markets.
- The North American and European automobile markets are two of the most technology-sensitive markets, and the HUD systems can be witnessed only in select automobiles in these markets. The higher growth rates for HUDs in the Asia-Pacific are expected due to the increasing demand for luxury cars. However, in effect, the North American market is expected to witness higher levels of activity in the HUD market.
- Existing manufacturers of aircraft HUD systems are expected to tap the automobile HUD market. However, the reduction in costs and the downsizing of technology are expected to be the major challenges for these manufacturers.
Scope of the Report
The automotive head-up display (HUD) market is segmented by HUD type (Windshield and Combiner), vehicle (passenger cars and commercial vehicles), and geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers the market size of and forecast for automotive head-up display and value (USD billion) for all the above segments.
Key Market Trends
Increased Adoption Rate of Windshield HUD
Automobile manufacturers and HUD suppliers have been continually working in developing better systems for cars. These HUDs have evolved beyond the bulky navigation that was available a few years ago. These systems are now capable of displaying compass direction, warning messages, and radio information, etc., on the windshield.
Utilizing advanced technologies, like liquid crystal display (LCD) and light-emitting diodes (LED), delivers the advantage of displaying bright, vibrant images on the windshield. The consistent technological advancements have evolved them to be less expensive to manufacture. The new projection technologies, including micro mirror-based devices based on electromechanical systems, are coming into the market, which will aid in creating brighter displays with the usage of more colors. The factors that are expected to drive the growth of the display systems market are the low cost and innovative display technologies.
Head-up displays were earlier available majorly in luxury cars, but now, OEMs have been thinking and making them standard even in economy cars. In 2018, Japanese manufacturer, Toyota, launched Camry with the largest windshield HUD compared to many other cars available in the market. The company has also made windshield HUD as a standard for its Prius model.
Continental AG offers Adaptive Cruise Control, which uses AR-based HUD to display and monitor the speed and distance ahead of the cars. A crescent-shaped icon on the display changes its color to provide uninterrupted feedback when the vehicle ahead gets too close. The display panel plays a critical role in the augmented usage of the driver assistant systems in the vehicle.
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The United States is Driving the North American Market
According to a study conducted by the NHTSA, about 80% of the accidents happening in the United States are caused due to driver distraction. With the rapid technological developments happening in the automotive industry, HUDs have helped drivers in viewing not only vehicle information but also the nearby environment information. Drivers can be alerted with several notifications, such as a phone call, driving speed, navigation, and imminent collision when the vehicle ahead is braking, etc.
The prominence of the United States in automotive safety makes North America one of the leading geographies in the automotive HUD market scenario, after Europe. Stringent safety norms mandated by various international agencies are expected to boost the adoption rate of safety systems for driver assistance, which, in turn, is expected to help maneuver the market for these systems in the country by 2026. With a steady transformation in the country's automotive industry, there is considerable market penetration and mass adoption of safety systems, especially among the passenger vehicle segment. Commercial vehicles, like pick-up trucks, have also started adopting these systems to improve the driver’s visibility and reduce accidents at night.
Automobile manufacturers, such as Ford and GM, are increasingly equipping their vehicles with built-in infotainment systems to provide consumers with enhanced driving experiences. The increasing demand for these advanced systems is expected to result in an increased demand for the HUD systems, which are intricately integrated with in-vehicle entertainment and vehicle information systems. The growing trend of connectivity in vehicles, with the increased integration of smartphones and tablets with in-vehicle entertainment and information systems, helps drive increased demand for advanced driving-assisted systems. Currently, manufacturers are focusing on developing HUDs that can detect pedestrians. The growth of the market for these driver-assisted systems is expected to increase the demand for HUD systems, thus, easing the process for monitoring the information provided.
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The automotive HUD market comprises a few global players and several regional players. Continental AG, Nippon Seiki Co. Ltd, HUDWAY LLC, Denso Corporation, and Visteon Corporation are the leading players in the market. These companies have managed to gain an advantage by managing their product portfolio, developing new products, and expanding their footprint across several countries across the world.
In October 2018, Continental developed an augmented reality HUD that features new waveguide technology, which enables large-area augmentation in the driver’s field of view.
In February 2019, Nippon Seiki announced an investment of JPY 1 billion in order to expand the production capacity of its HUD and to establish a new production facility, which can manufacture onboard gauges and displays in Lodz, Poland. The new facility will start full-scale operations by October 2020.
In recent years, it has been argued that conventional HUDs will be replaced by holographic AR technologies, such as the ones developed by WayRay that use holographic optical elements (HOE). The HOE allows for a wider field of view while reducing the size of the device and making the solution customizable for any car model. Nippon Seiki, apart from supplying HUD Mirrors to Daimler from 2019, has also moved toward merging two of its subsidiaries to achieve more efficiency and better business opportunities.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 HUD Type
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Rest of the World
184.108.40.206 South America
220.127.116.11 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Nippon Seiki Co. Ltd
6.2.2 Continental AG
6.2.3 Yazaki Corporation
6.2.4 DENSO Corporation
6.2.5 Robert Bosch GmbH
6.2.6 Visteon Corporation
6.2.7 Panasonic Corporation
6.2.8 Pioneer Corporation
6.2.9 HUDWAY LLC
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Automotive Head-up Display Market market is studied from 2018 - 2026.
What is the growth rate of Automotive Head-up Display Market?
The Automotive Head-up Display Market is growing at a CAGR of <21% over the next 5 years.
What is Automotive Head-up Display Market size in 2018?
The Automotive Head-up Display Market is valued at 1 Billion USD in 2018.
What is Automotive Head-up Display Market size in 2026?
The Automotive Head-up Display Market is valued at 3 Billion USD in 2026.
Which region has highest growth rate in Automotive Head-up Display Market?
Europe is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Automotive Head-up Display Market?
North America holds highest share in 2020.
Who are the key players in Automotive Head-up Display Market?
Continental AG, DENSO Corporation, HUDWAY, LLC., Nippon Seiki Co. Ltd, Visteon Corporation are the major companies operating in Automotive Head-up Display Market.