The Automotive HUD market is valued to USD 1.0 billion in the year 2019. It is projected to grow at a very high CAGR over the forecast period. It is projected to grow at nearly 23.8% over the forecast period of 2020-2026
However, the COVID19 has impacted the automotive market adversely. The vehicles sales have been declined and the companies were shut down for few months due to lockdown across the globe. The OEMs are not very much interested in investing in safety features for next one or two years.
For more details, visit: Global Automotive HUD Market By Product Type (Windshield HUD, Combiner HUD), By Technology (Augmented Reality, Convectional), By Fuel Type (ICE, Electric),End User, By Region–Forecast & Opportunities to 2026
According to World Health Organization (WHO) 1.35 million deaths occur due to road accident. Road accidents have now become major concern for everyone in the world. Some studies suggest that road accidents are likely to become 5th major reason for causing death globally by the year 2030. The government and companies are now majorly focusing on improving safety features in a vehicle. This is driving market to witness higher growth in coming years.
The automotive HUD market is segmented by product, technology, fuel type and end user. Based on product is further divided into windshield HUD and combiner HUD. Out of this two, combiner HUD is expected to witness higher market share by 2026. It is projected to witness growth at a CAGR of XX% by the year 2026. Combiner HUD is a kind of compact HUDs and can be installed at any position and at different locations. It uses mirror to show information. They are very compact and require limited space and can be installed in cockpit of vehicle.
Based on the technology, the automotive HUD market is segmented into conventional and augmented reality. Augmented reality provides exterior view of vehicle conditions and traffic conditions. AR also signifies pedestrian detection along with blind spot detection. Advanced driver assistance feature is also present in AR HUD. The AR HUD is expected to register higher market share over the forecast period.
Automotive HUD market based on fuel type is divided into ICE and Electric fuel. Up till now ICE was a leading sector and has maximum market share however, the automotive sectors is shifting towards electric vehicles and it has recorded good sales in EVs by the year 2020.
Automotive HUD market is segmented into economic cars, mid-segment cars and luxury cars based on end users. The mid-segment has registered maximum growth in the year 2019. Mid-segment cars are now offering good safety features along with other impressive features.
Based on region, Europe has accounted for maximum market share by the year 2019. In this year Europe has accounted for XX% market share. Europe is technological hub with countries like Germany and U.K. they are confronting technological advancement rapidly. Awareness about vehicle safety features is increasing in Europe and people are demanding more safety features. Knowing that HUD can reduce driver distraction accidents, people are demanding this features. This factor drives the market towards growth.
The key players in automotive HUD market are Panasonic Corporation, Continental AG, Denso Corporation, Visteon corporation, Yazaki Corporation, Pioneer Corporation, Nippon Seiki, Alps Alpine.
- What are the expected industry trends over the next three to five years?
- Which of the automotive HUD technology is likely to lead by 2025?
- Which of the product type segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?