Head-up Display Market Growth Drivers - Global Forecast to 2027

Head-up Display Market size is projected to grow from USD 2.4 billion in 2022  to USD 6.4 billion by 2027 it is expected to grow at a CAGR of 21.3% from 2022 to 2027.

The key factors contributing to the growth of the head-up display market include increasing awareness about passenger and vehicle safety, growing adoption of AR based head-up display etc. However, space constraint in automotive cockpits and high luminace, brightenss and power requirements is hindering the growth of head-up display market. Impact of COVID-19 on supply chain and the global chip shortage possesses ahuge challenge to the industry. However, growing demand for electric and semi-autonomous vehicles is the biggest opportunity in the market space with Europe having the highest market share and North America the highest CAGR for the forecast period.

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The market based on geography has been segmented into 4 main regions: North America, Europe, APAC, and RoW. North America is projected to grow at the highest CAGR of 26.5% during the forecast period. The growth of the market in North America is attributed to the increasing awareness among manufacturers and users about the active safety systems deployed in automobiles and aircraft. The US is also one of the key consumers of high-end cars, including sports, luxury cars. Leading car companies such as Chevrolet (US), General Motors (US), and Ford Motor Company (US) are headquartered in the US and are expected to come up with advanced technology-based head-up displays in the market.

The passenger cars segment is estimated to account for a large share of the head-up display market during the forecast period. The adoption of advanced technologies continues to be high in passenger cars owing to their large-scale production and greater sales than commercial vehicles. The passenger cars segment of the head-up display market in Europe and North America is driven by the increasing adoption of head-up displays in new vehicle models sold in these regions. OEMs are placing extreme importance on ensuring that drivers view images directly in their field of view and the images are distortion-free. Tier 1 suppliers ensure that head-up displays are manufactured with a precision of thousandths of a millimeter.

The key players operating in the head-up display market Nippon Seiki (Japan), Pioneer (Japan), Continental (Germany), Visteon (US), Bosch (Germany), Denso (Japan), BAE Systems (UK), and Yazaki Corporation (Japan). The players in this market have adopted various strategies to expand their global presence and increase their market shares.