The head-up display market was valued at USD 1.02 Billion in 2017 and is expected to reach USD 4.71 Billion by 2023, at a CAGR of 29.91% during the forecast period. The base year considered for the study is 2017, and the forecast period is 2018–2023.
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According to the new market research report "Head-Up Display Market by Component (Video Generator, Projector/Projection Unit, Display Unit, Software), Type (Conventional HUD, AR-Based HUD), Application (Aviation, Automotive), and Geography - Global Forecast to 2023", The head-up display market is expected to reach USD 4.71 Billion by 2023 from USD 1.27 Billion in 2018, at a CAGR of 29.91% between 2018 and 2023. The factors such as increase in awareness about passenger and vehicle safety, convenience offered by the combination of satellite navigation technology and HUD system, increase in demand for connected vehicles and for technologically advanced HUDs drive the demand for head-up displays.
Browse 61 market data Tables and 51 Figures spread through 142 Pages and in-depth TOC on "Head-Up Display Market y - Global Forecast to 2023"
Head-up display market for AR-based HUDs expected to grow at highest CAGR during forecast period
AR-based HUDs are expected to be launched in luxury and premium range of vehicles once they become commercially available in 2018.
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Technological advancements, as well as increasing consumer demand for advanced safety functions, are expected to drive the AR-based HUD market.
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Head-up display market for automotive application expected to grow at highest CAGR during forecast period
Head-up display systems are used for automotive applications as a secondary display unit to provide information on navigation routes, vehicle speed, fuel indication, lane-departure warning, and traffic information to the driver. The increase in adoption of advanced driving assistance systems by OEMs across various vehicle types and consumer demand for in-vehicle safety features that potentially reduce collisions and injuries caused by human-driver errors are the factors responsible for the growth of this market.
Head-up display market in APAC expected to grow at highest CAGR during forecast period
The head-up display market is rapidly expanding in APAC. The growth of the market in APAC can also be attributed to the rapidly growing demand for the mid-segment cars equipped with head-up display systems and increasing per capita income of China, Australia, South Korea, and Japan is expected to drive the head- up display market in this region.
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Some of the major players operating in the head-up display market are Nippon Seiki (Japan), Continental (Germany), DENSO (Japan), BAE Systems (UK), Visteon (US), Pioneer Corporation (Japan), MicroVision (US), Thales (France), Garmin (Switzerland), and Panasonic (Japan).
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