Head-up Display Market – Snapshot
A head up display system refers to a computerized system, which is capable of projecting information on a screen placed in the immediate vicinity of the viewer. The information could also be displayed on a separate display. The head up display system can perform multiple jobs, such as projection of image and data. This system can present information in such a way that the viewer is able to view the external surroundings and the information at the same time. The features of these displays are proving to be extremely beneficial, which likely to foster the growth of the global head-up display market in the near future.
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Widen Scope of Application to Pave Way for Lucrative Market Growth
Earlier, these displays were mostly used for the aviation sector but now, given its benefits, many other end use sectors such as military aircrafts, automobiles have adopted the gadget. Increased adoption is likely to trigger growth of the global head-up display market.
In the last few years, the head-up displays were put up on to civil aircrafts through a secondary screen. Of late, this display system is finding utilization in several dynamic application areas, which comprises
- motorcycle helmets
- automobile windscreens
In motorcycles, the data is displayed on the visor, which makes it easier for the ride to view the information and pay attention on the road as well. Gesture recognition and voice control are the latest add-ons in the head-up display systems designed for the automotives. This feature is likely to shoot up the demand for the product in the automobile sector.
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Global Head-up Display Market: Snapshot
The global head-up display market is expected to gain traction in the next few years. The enhanced driving experience making use of the AR-based head-up displays is considered as the key factor likely to enhance the growth of the overall market in the coming few years. The key players in the market are making notable efforts to handle the fatal errors in head-up display technology. However, the convenience offered by the combination of satellite navigation technology and head-up display system are predicted to accelerate the growth of the global market throughout the forecast period.
Rising Trend of Augmented Reality to Enhance Global Head-up Display Market
According to the market research study by Transparency Market Research, in 2014, the global market for head-up display was worth US$1.76 bn and is projected to reach a value of US$7.05 bn by the end of 2024. The market is estimated to register a healthy growth rate in the coming years.
A significant rise in the awareness regarding passenger and vehicle safety and the rise in the demand for connected vehicles are the key factors that are projected to enhance the growth of the global head-up display market in the coming years. The rising demand for technologically advanced HUDs and the augmented reality is expected to enhance the growth of the HUD market are further projected to support the growth of the global market in the next few years. On the flip side, the fatal errors in HUD display technology and the large space requirement in the automotive cockpit are projected to restrict the market growth in the coming few years. Nonetheless, the rise in the demand for semi-autonomous and electric vehicles is predicted to support the growth of the market in the near future.
Strong Growth of Automotive Sector to Drive North America Market
From a regional perspective, North America is expected to hold a major share of the global head-up display market in the next few years. This region is predicted to register a healthy growth rate in the near future, thanks to the high military modernization. In addition to this, the rapid growth of the luxury car industry is predicted to support in the expansion of the HUDs market in this region. Furthermore, Europe is estimated to remain in the second position in terms of revenue and offer lucrative opportunities for the market players in the coming years. On the other hand, Asia Pacific is predicted to register a strong growth rate in the near future, thanks to the significant rise in the demand for high-end cars, especially from developing economies.
The global market for head-up display is competitive in nature and is expected to witness a healthy competition among the key players in the next few years. In order to enhance their market penetration, the key players are emphasizing on expansion of the product portfolio and research activities. In addition to this, the rising mergers and acquisitions and collaborations is projected to offer growth opportunities for the market players in the coming few years. Some of the key players operating in the head-up display market across the globe are Pioneer Corporation, Rockwell Collins Inc., Yazaki Corporation, Esterline Technologies Corporation, Continental AG, Johnson Controls Inc., Denso Corporation, Delphi Automotive PLC, Nippon Seiki Co. Ltd., Microvision Inc., BAE Systems plc, and Thales Group.
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