Transparency Market Research (TMR) observes, the global head-up display market has highly fragmented vendor landscape. The prominent players operating in the head-up display market are BAE Systems plc, Continental AG, Nippon Seiki Co. Ltd., Thales Group, and Rockwell Collins Inc. These players are increasingly focusing on product differentiation and innovation. In order to achieve this, the key players are increasingly taking part in merger, partnership, and acquisition activities in order to improve the product portfolio and achieve business expansion. For achieving this, companies are investing in the research and development (R&D) activities for development of ideal devices.
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According to a report, the global market for head-up display was valued at US$1.76 bn in 2014 and projected to expand with striking CAGR of 19.1% to attain the value of US$7.05 bn by 2024 over the forecast period 2015 to 2024. On the basis of application, the aviation industry segment accounted for nearly 79% of shares of the market. Based on the region, North America accounted for the leading share in the global head-up display market in 2014.
High Demand for advanced Safety Systems to Propel Growth
Head-up displays (HUDs) are transparent displays that are able to display information and other data that can be helpful in guidance for the driver and ensures safety. HUD offer comfort and entertainment during travelling through vehicle also does not distract the driver. Additionally, the devices has numerous other advantages including assistance to driver and helps to lower the accidents on road and easy and hand-free access to information of road. These factors are propelling adoption of displays from consumers which is likely to fuel growth of the global head-up display market.
Moreover, growing demand for safety systems coupled with luxurious facilities primarily in the high-end and fancy cars are fuelling adoption of HUDs which is again accounting as key driver for growth of the HUDs market. In addition, widening application of HUDs in the civil aviation, automobile, sports and infotainment applications, gaming, and military and aviation purposes are augmenting the growth of the head-up display market.
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High Cost of Manufacturing to Limit Adoption
Despite growth prospects, high cost of manufacturing of head-up display is restraining growth of the head-up display market. Nonetheless, earlier, this technology of head-up display was able to attract only large manufacturers of automotive primarily in the high-end cars; but now, the small companies which are manufacturing the automotive are also offering the display to ensure safety while driving. Furthermore, these companies are investing in the research for product innovation and improvement in the existing devices. This launch of portable HUDs and new devices at lower prices may spur growth of HUDs in low and middle car segments are offering lucrative opportunities for key players by the end of the forecast period.
This information is encompassed in the new report by TMR, titled “Head-up Display Market (By Type – Combiner Projected HUDs and Windshield Projected HUDs; By Applications – Aviation, Automotive, and Other (Sports, Gaming, etc.)) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2024.”
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