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.
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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. Technological
advancements, as well as increasing consumer demand for advanced safety
functions, are expected to drive the AR-based HUD market.
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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