The global automotive HUD market size is projected to expand at 24.09% CAGR from 2022 to 2030. MRFR’s report on the automotive HUD market comprises growth drivers, challenges, and trends on the industry for the forecast period (2022-2030). The COVID-19 pandemic and its implications are explored in depth in the market.
Market Scope
The global automotive HUD market is driven by increasing awareness of driver and passenger safety and advances in vehicle technologies. Aim of regulatory agencies to improve safety of drivers and curb rising number of road accidents can bode well for the market. A HUD (HUD) unit can provide vital statistics on mileage, traffic, and other obstacles on roads. Benefits of HUDs in preventing the driver from distracting is expected to drive sales of these units.
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Introduction of compact HUDs in mid-sized and luxury cars is a novel growth avenue for the market. Technological advances such as driver assists and surround-view cameras in standard cars can be lucrative for market players in the long run. Recently, Mazda has HUDs in its Mazda3 and Mazda6 cars.
But constrained space in automotive cockpits may hamper market growth.
COVID-19 Impact
The COVID-19 pandemic had affected the development of augmented reality and HUDs in the automotive sector. But the ease of facilities for testing and development of systems and interest of car makers to offer technology-driven solutions can improve market demand over the forecast period.
Segmentation
Windshield HUD Product to Garner Market Demand
The windshield HUD is expected to generate interest among customers owing to sleek display of maps and surrounding traffic on the windshield. Huge demand for in-vehicle technology and dipping prices of HUDs can augur favorably for the segment. Europe and APAC can contribute the most to the segment owing to sales of luxury and premium vehicles.
Mid-segment Cars to Dominate Market Demand
The mid-segment cars is expected to dominate the demand for HUD units due to its price and increasing purchasing power of customers. Demand for advanced safety features and increasing sales of mid-sized cars can drive the segment growth.
Electric Type Cars to Lead in Automotive HUD Market Share
Electric cars are expected to lead in global automotive HUDs market owing to initiatives by governments to commence construction of charging infrastructure and schemes for adapting electric vehicles (EVs). Preference of zero-emission vehicles may kickstart demand in the segment.
Regional Analysis
Europe to Lead in Global Automotive HUD Market
Europe is expected to lead in the global automotive HUD market owing to its potential in the U.K. and Germany. The large number of car injuries as per the survey by Aviva Inc., is evident of the large potential of HUDs in minimizing car accidents. Growing awareness of customers in the U.K. and safety standards to lower casualties can drive market demand in the region.
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Competitive Analysis
Alps Alpine Co., Ltd., Panasonic Corporation, Continental AG, Robert Bosch GmbH, Yazaki Corporation, Visteon Corp., Denso Corporation, Pioneer Corporation, Nippon Seiki Co., Ltd., and Garmin Ltd. are key players in the global automotive HUD market. Development of new features and collaborations are to be witnessed in the market.
Industry News
Infineon’s MEMS scanner chipsets allow HUD systems to be integrated into a dashboard and projects images through laser beams.
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