New York, Jan. 18, 2021 (GLOBE NEWSWIRE) — The Automotive Head-Up Display Market has been foreseen to register worth USD 9,881.1 Million by the year 2027. The global market for automotive head-up display (HUD) is witnessing an increased demand attributed to several factors like increasing road accidents, rising awareness about passenger and vehicle safety, mounting demand for different autonomous vehicles, elevating need for modified 3D AR head-up display, and rising investments in a wide array of luxury cars.
HUDs are a modern innovation in the industry like advanced driver assistance systems (ADAS). An automotive head-up display is advantageous in the area of maintaining the driver’s attention during driving on the road, conveying speed safely, warning about intersection collision, alerting upon detecting obstacles, assistance during lane change, warning about lane departure, warning at the time of road departure and rollover, forward-collision and rare impact warning, and several other crucial navigation and automotive information.
Increased funding in R&D activities of the technology in head-up display is a primary factor fueling the industry’s growth. In 2018, WayRay implemented AR hardware and technology in automotive head-up displays for projecting information into the field of driver’s vision. Moreover, prior investors JVCKENWOOD, Alibaba Group, and several sovereign wealth funds have participated actively in the process of funding.
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COVID-19 has had a negative influence in the overall automotive industry, leading to the reduced need for distinct automotive head-up displays. Due the disruption in supply chains, the demand for the product has suffered a massive shock and the competitive landscape has witnessed a drastic change.
Further key findings from the report suggest
- The conventional head-up display for automotive sub-segment led the industry in 2019, due to the reduced installation price compared to AR HUD, increasing penetration by OEMs, and a rising emphasis on the automotive and passenger’s safety.
- Based on product type, the combiner head-up display sub-segment is presumed to occupy a faster growth rate in the estimated duration, as the combiner product type is more cost-effective and smaller in size, compared to an automotive windshield.
- The OEM sub-segment accounted for a larger share in the overall industry in the year 2019, attributed to rising investment by OEMs in different luxury vehicles and fast development of modern head-up displays, and rapidly engaging strategic alliances like collaborations and partnerships.
- In terms of revenue, Europe contributed largely to the market in 2019, due to the rising need for complying with distinct safety standards to mitigate accident risks during collisions. Additionally, growing awareness about enhancing automotive safety and rising investments in the R&D for delivering an innovative solution for road safety are also responsible for influencing the industry’s growth in this region.
- Key participants include Elbit Systems, Continental AG, YAZAKI Corporation, Denso Corporation, Thales Group, BAE Systems, Visteon Corporation, Panasonic, Rockwell Collins, and Robert Bosch LLC.
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For the purpose of this report, Reports and Data has segmented the global automotive head-up display market on the basis of product type, technology, vehicle type, sales channel, and region:
Product Type Outlook (Volume, Million Units; Revenue, USD Million; 2017-2027)
- Windshield Head-Up Display
- Combiner Head-Up Display
Technology Outlook (Volume, Million Units; Revenue, USD Million; 2017-2027)
- Conventional Head-Up Display
- Augmented Reality Head-Up Display
Vehicle Type Outlook (Volume, Million Units; Revenue, USD Million; 2017-2027)
Sales Channel Outlook (Volume, Million Units; Revenue, USD Million; 2017-2027)
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Regional Outlook (Volume, Million Units; Revenue, USD Million; 2017-2027)
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Latin America
- Saudi Arabia
- Rest of Middle East and Africa
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