The head-up display market is expected to reach USD 3.3 billion by 2028 from 1.5 billion in 2023, at a CAGR of 16.7% during the 2023- 2028 period.
Head-Up Display is a technology that projects information, data, or graphics onto a transparent surface, typically a vehicle's windshield, allowing users to access important information without looking away from their primary line of sight. Head-up display is commonly used in the automotive and aviation industries to provide drivers and pilots with real-time data such as speed, navigation directions, and other relevant information.
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AR- based head-up display is expected to grow at the highest CAGR during the forecast period.
Luxury and premium range cars are anticipated to come equipped with augmented reality-based head-up displays. The demand from consumers for increased safety features along with ongoing technical improvements is anticipated to fuel the expansion of the AR-based head-up display market. Driving while watching various in-car displays might lead to accidents. By minimizing distractions and improving driving safety, augmented reality-biased head-up displays let drivers drive with less cognitive strain. On windshields in the line of sight of drivers, necessary information and assistance can be seen, together with real-time traffic conditions. In order to improve the driving experience, AR-based head-up displays point out adjacent streets and indicate obstacles on projected images.
Commercial Vehicle in the head-up display market are expected to grow at the highest CAGR during the forecast period.
The uptake of advanced technologies in commercial vehicles has been relatively slow, primarily due to concerns about the overall cost of these vehicles. However, there is a noticeable shift driven by evolving regulations and mandates related to vehicle safety, compelling the adoption of advanced safety features in commercial vehicles. One of the significant challenges in developing head-up displays for commercial vehicles lies in meeting distinct resistance and durability requirements. Unlike passenger cars, commercial vehicles typically have flat windshields that lack the necessary curvature for optimal head-up display performance. Additionally, these vehicles are subjected to higher levels of vibration and temperature variations. Continental, a German company, has emerged as a pioneer in developing head-up displays for commercial vehicles and has already implemented these displays in its Innovation Truck.
Projectors/projection units is expected to have the highest market share of head-up display market in the forecast period from 2023-2028.
In early head-up displays, refraction was used for projecting images on projectors, while in modern head-up displays, the principle of reflection is used to project images. Projectors/projection units use cathode-ray tubes, light-emitting diodes, or liquid crystal displays to project images. They can be adjusted either below or above combiners. Projectors/projection units create images through laser beams. Convex lenses or concave mirrors are set up with cathode-ray tubes, light-emitting diodes, or liquid crystal displays at the focus of projectors/projection units in typical head-up displays. This setup produces images on surfaces through parallel light, with observers perceived to be at infinity.
Germany is expected to have the highest market share in Europe of head-up display market in the forecast period from 2023-2028
Germany stands at the forefront of global technological innovation, boasting a robust automotive industry present in Europe. This industry is anticipated to sustain steady growth due to ongoing technological advancements. Key German automobile manufacturers, including Volkswagen, BMW, Audi, and Daimler, are contributing to an increased demand for head-up displays. As a result, Germany is poised to dominate the European head-up display market throughout the forecast period.
Key Market Players
The major players in the head-up display market with a significant global presence include Nippon Seiki Co., Ltd. (Japan), Continental AG (Germany), DENSO CORPORATION (Japan), Robert Bosch GmbH (Germany), Visteon Corporation (US), BAE Systems (UK), YAZAKI Corporation (Japan), Pioneer Corporation (Japan), Panasonic Holdings Corporation (Japan), Garmin Ltd. (US), Thales (France), E-LEAD ELECTRONIC CO. LTD (Taiwan), Honeywell International Inc. (US), MicroVision (US), Collins Aerospace (US), Renesas Electronics Corporation (Japan), STMicroelectronics (Switzerland), ALPS ALPINE CO., LTD. (Japan), Elbit Systems Ltd. (Israel), Saab AB (Sweden), Vuzix (US), Foryou Corporation (US), HARMAN International (US), HUDWAY, LLC (US), WayRay AG (Switzerland), Envisics (UK), Texas Instruments Incorporated (US).
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