Global head up display market valuation is anticipated to surpass $15.3 million by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
As per the report, the primary factor fueling the global head up display market growth is the rise of augmented reality which is deployed as an assistant between drivers and vehicle to help in safer driving. Therefore, the development of new and advanced driver-centric products has propelled the demand for the head up display market across the globe.
For the uninitiated, head up displays are transparent displays which enable drivers to view different information in real-time at a single screen, thereby helping them drive safely. In the past, these products were extensively used in the aircraft industry, but as the technology developed, such displays went on to gain immense traction in the automotive sector as well.
Some key findings from the report include:
- With regards to volume, the number of shipments in the automotive segment of the head up display market is expected to rise significantly over the forecast period.
- The implementation of head up displays in conjunction with the driver assistance systems has augmented the head up display market growth.
- The automotive sector is expected to account for a remarkable market share over the forecast period, primarily owing to the growing need for passenger road safety and rising demand for latest technology in military aircraft, defense, and automotive sectors.
- Global Positioning System (GPS) will also drive the growth of the global head up display market.
- Introduction of innovative technologies such as adaptive cruise control helped boost the head up display market growth.
According to the report, the invention of portable head-up display within standard & mid segment cars have also significantly triggered market growth. For instance, automakers like AUDI and BMW are teaming up with head up display manufacturers in order to incorporate the product in mid-segment cars. So far, these displays were largely used in the luxury or sports cars only, however, car manufacturers are trying to make it a standard feature throughout all models. Presently, the high traction experienced by the head up display market can be accredited to the improved perception regarding safety. Additionally, the implementation of advanced features in standard car models is also fueling the market for HUDs worldwide.
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In terms of regional growth, North America currently leads the head-up display market globally, followed by Europe. The expansion of the North America market can be attributed to the development of technology firms and high investments in R&D, cites the report.
The findings of the report also point out that in the ensuing years, the Asia-Pacific region is anticipated to emerge as a strong contender by gaining a higher growth rate.
The report also provides an in-depth analysis of the head up display market drivers, restraints, and opportunities over the estimation period. A detailed analysis of the report in terms of mount type, component type, region, and competitive ranking analysis has also been included in the report. In addition, company profiles of major market contenders have been elaborated under the heads of business overview, product benchmarking, financials, and recent developments.
The key industry participants operating in the competitive landscape of the head up display market includes BAE Systems, Elbit Systems, Visteon Corporation, DENSO Corporation, YAZAKI Corporation, and Robert Bosch LLC. The key growth strategies observed in this business space include launching innovative products and teaming up with other market leaders to design new products and meet the rising consumer needs and requirements, thereby augmenting the head up display market growth during the foreseeable timeline.