Market Synopsis
The Global Automotive HUD Market Share, according to MRFR, is expected to witness substantial growth over the review period.
Market Overview
The HUD market is expected to attain high levels of growth around the world. The technology is not established in many of the emerging markets and is still in the that process. Using advanced technology such as liquid crystal display ( LCD) and light emitting diodes (LED), the benefit of viewing bright , vivid images on the windshield is offered. The continuous advancements in technology have developed to make them less costly to manufacture. The introduction of new projection technologies, including micro-mirror-based devices, based on electromechanical systems, will help to create brighter displays using more colors.
Low cost and innovative display technologies are the factors that are expected to drive the growth of the display systems market. Existing aircraft HUD systems manufacturers are expected to tap the automobile HUD market. However, the main challenges facing these manufacturers are considered to be reducing costs and downsizing technology.
Segmentation
The Global Market for Automotive HUDs is analyzed based on component, product type, fuel type, and end-user. Based on component, the global automotive HUD market is segmented into projectors/projection units, video generators, display units, software, and others.
By Product Type, the global automotive HUD market is bifurcated into Windshield HUD and Combiner HUD.
By Technology, the global automotive HUD market is divided into AR and conventional.
By Fuel Type, the global automotive HUD market is bifurcated into ICE and electric.
By End-User, the global Automotive HUD Market is segmented into mid-segment cars, economic cars, and luxury cars.
Regional Assessment
The Global Automotive HUD Market is divided by Area into North America, Asia-Pacific , Europe and the rest of the world.
Europe has represented the largest share of the global HUD automotive industry. Countries in Europe like the UK and Germany will contribute substantially to the market share. More than a million claims for front windshield injuries are made each year according to the UK Legal Expert. Aviva Plc estimated that in motor crash cases about 80 per cent of the claims involved whiplash-related injuries. Therefore, the growing awareness of consumers in the UK is expected to meet safety standards to minimize the risk of accidents during front-end collisions. It is expected that increased awareness of vehicle safety through the incorporation of HUDs and other safety components will influence demand for vehicles equipped with HUDs during the forecast period.
Asia-Pacific reported a large share of global automotive HUD market in 2018. Due to the increased sales of premium passenger vehicles, China is expected to be the largest market with the highest share of automotive HUD in Asia-Pacific over the entire forecast period. The the automotive aftermarket industry, the availability of cost-effective raw materials and labor and the increasing market for automotive components are expected to increase demand for automotive HUD further. Additionally, growth in high gross domestic product ( GDP), technological advances, and increasing middle-class revenues are expected to boost demand for luxury vehicle sales and fuel the automotive HUD market in China. This country has a large concentration of electric vehicles, which is expected to increase the automotive HUD research and development activities and create investment opportunities in the global automotive HUD market.
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Key Competitors
The success of market players depends on market dynamics, the success of the end-use industry and the advancement of technology. Therefore the vendors should consider spreading geographically and enhancing the quality of the commodity. Continental AG, Visteon Corp., Robert Bosch GmbH, Panasonic Corporation, Denso Corporation, Pioneer Corporation, Alps Alpine Co., Ltd., Nippon Seiki Co., Ltd., Yazaki Corporation, and Garmin Ltd are the key companies in this market, who compete based on market presence, quality, product specifications, and price.
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