Augmented Reality and 3D Display Features Driving the Future of Automotive HUD Market
Posted: Apr 04, 2019
FMI delivers key insights on the global automotive HUD market in its latest report titled ‘Automotive HUD Market: Global Industry Analysis and Opportunity Assessment 2015-2025.’ The long-term outlook on the global automotive HUD market remains positive with the market value expected to increase at a CAGR of 23.2% during the forecast period (2015-2025). Among product types, the combiner segment is expected to expand at a significant CAGR in terms of value over the forecast period. The global automotive HUD market for premium passenger cars is estimated to have been valued at US$ 91 Mn at the end of 2015. North America is estimated to have accounted for a value share of 33.2% in the global Automotive HUD market by 2015 end and is anticipated to be replaced by Western Europe as the prominent region during the forecast period. In this report, FMI throws light on drivers and restraints likely to impact Automotuve HUD market during the forecast period.
Growing Awareness and Ability to Enhance Safety and Driver Comfort will drive the Automotive HUD market
Currently, the growth is limited to the premium or luxury vehicles, but rise in consumer awareness regarding safety features associated with automotive HUD is anticipated to drive the growth of the automotive HUD market. Along with this, rise in the incidences of road accidents across the globe have tempted automakers to offer automotive HUD in their vehicles. As automotive HUD provide driving comfort and enhance safety to the occupants, the market for automotive HUD is projected to grow at a significant growth rate.
Rise in the production of vehicles, especially premium and luxury cars, has also boosted the demand for automotive HUD. In 2017, more than 97 million vehicles were produced, of which more than 73 million were passenger cars, which constitute the prime application area of automotive HUD. Rise in the sales of vehicles has also accelerated the growth of fleet on road. In 2015, the global fleet on road was about 1.2 Bn. Apart from the OEM market, the aftermarket is also anticipated to grow at a steady pace as vehicles which were not equipped with HUD systems are opting for automotive HUD systems.
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Segmentation Analysis of Automotive HUD market
The Automotive HUD market is segmented on the basis of product type, passenger car type and sales channel.
Premium passenger car type is projected to continue to lead the market in terms of value over the forecast period. The premium passenger car segment of the automotive HUD market is estimated to grow at a significant CAGR over the forecast period. It is expected to represent total incremental opportunity of US$ 620.5 Mn between 2015 and 2025. The SUV segment is projected to grow at a relatively high CAGR as compared to other passenger car types over the forecast period
Combiner automotive HUD is projected to be the most prominent product type in the automotive HUD market. The combiner automotive HUD segment is estimated to grow at a significant CAGR of 28.9%, in terms of value, over the forecast period.
The market for automotive HUD is estimated to be dominated by OEM during the forecast period. However, the market for aftermarket is expected to grow at a relatively higher rate of 24.5% during the forecast period.
Regional Market Projections of Automotive HUD
The Automotive HUD market in Western Europe is expected to represent significantly high incremental opportunity between 2015 and 2025. The market of Automotive HUD in North America is expected to represent total incremental opportunity worth US$ 413.7 Mn between 2015 and 2025.
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Automotive HUD Market Participants
The report highlights some of the top companies operating in the Automotive HUD market, such as Continental AG, Delphi Automotive, Denso Corporation, Johnson Controls, MicroVision, Inc., Nippon Seiki Co., Ltd., Robert Bosch GmbH, Yazaki Corporation, Visteon Corporation and Harman International Industries Inc.
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