Head-up Display Market worth $4.6 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Jan. 11, 2021 /PRNewswire/ -- According to the new market research report "Head-up Display Market with COVID-19 Impact Analysis by Component (Video Generator, Projector/Projection Unit, Display Unit, Software), Type (Conventional HUD, AR-Based HUD), Application (Aviation, Automotive), and Geography - Global Forecast to 2025", published by MarketsandMarkets™, the Head-up Display Market is projected to grow from USD 1.3 billion in 2020 to USD 4.6 billion by 2025; it is expected to grow at a CAGR of 28.5% from 2020 to 2025. The increase in awareness about passenger and vehicle safety, the convenience offered by a combination of satellite navigation technology & HUD system, increasing demand for connected vehicles, increasing demand for technologically advanced HUDs, and growth of the augmented reality market are the key factors driving the head-up display market growth.
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Projector units to lead the head-up display component market during the forecast period
The projector is a major part of HUD as it projects the information on a transparent windshield. In early HUDs, refraction was used for projecting images in the projector, whereas in modern HUDs, reflection is used to project the image. Projection units use cathode ray tubes, LEDs, or liquid crystal displays to project the image. Projection units can be adjusted either below or above combiners. Projector projects image through the laser beam. Projector units are expected to lead the overall head-up display market.
Market for AR-based head-up displays projected to grow at a higher CAGR during the forecast period
Technological advancements, as well as increasing consumer demand for advanced safety functions, are expected to drive the AR-based HUD market. Monitoring multiple in-vehicle displays while driving can trigger mishaps on the road. To reduce cognitive workload while driving, AR-based HUD systems can reduce distraction and make driving safer. Driver information, assistance, and attention management can be viewed, along with real-time traffic conditions, on the windshield in the driver's line of sight.
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APAC to lead the head-up display market during the forecast period
APAC is expected to exhibit strong growth in the next few years owing to the significant contribution of Japan, China, and South Korea in the growth of HUD market. The strong growth of the automotive application in China and Japan is projected to boost the automotive market in the APAC region.
Major vendors in the head-up display market include Bosch (Germany), Nippon Seiki Co., Ltd. (Japan), Continental AG (Germany), Visteon Corporation (US), Denso Corporation (Japan), Panasonic Corporation (Japan), BAE Systems (UK), Pioneer Corporation (Japan), Yazaki (Japan), and Garmin (US).
Related Reports:
Augmented Reality Market by Offering (Hardware (Sensor, Displays & Projectors, Cameras), Software), Device Type (Head-mounted, Head-up), Application (Enterprise, Consumer, Commercial, Healthcare, Automotive), and Region - Global Forecast to 2024
Virtual Reality Market with COVID-19 Impact Analysis by Offering (Hardware and Software), Technology, Device Type (Head-Mounted Display, Gesture-Tracking Device), Application (Consumer, Commercial, Enterprise, Healthcare) and Geography - Global Forecast to 2025
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