BANGALORE, India, July 24, 2020 /PRNewswire/ -- Factors such as increased passenger and vehicle safety awareness, the convenience of integrating satellite navigation technology with a head-up display system, increased demand for connected vehicles and advanced technical HUDs drive the growth of head-up display market size
Global Head Up Display Market size is projected to reach USD 2422.5 Million by 2026, from USD 930 Million in 2019, at a CAGR of 17.3% during 2020-2026.
The key regions covered in the Head Up Display (HUD) market report are North America, Europe, China, Japan, and South Korea. The report includes a country-wise and region-wise market size for the period 2015-2026. It also provides market size and forecast by Type and application segment in terms of production capacity, price, and revenue for 2015-2026.
TRENDS INFLUENCING THE HEAD-UP DISPLAY MARKET SIZE
The demand from the automotive vertical and the increasing opportunities for growth in the wearables sector are driving the growth of the Head Up Display Market size.
Initially, traditional head-up displays were designed for aviation and military applications. However, they are widely used in automotive applications. The major factors responsible for this growth of head up display market size are increased adoption by OEMs in display technology, reduced installation costs of head-up display systems, and increased importance given to vehicle and passenger safety systems.
Conventional HUDs are used as a secondary display device in automobiles to provide the driver with information on navigation routes, vehicle direction, fuel indication, lane-departure alert, and traffic information. HUDs power the demand from the automotive segment with enhanced benefits such as monochrome, 4-color monitor, night vision, high contrast, and color-rich virtual images. These new features are expected to fuel the HUD adoption and thereby increase the Head Up Display Market size.
Artificial Intelligence is being introduced by the use of a cloud terminal in the Heads-up Display. AI works as a driver's digital assistant observing the driver's preferences at various times of the day and week and automatically scheduling the entertainment, navigation and other details needed at the appropriate time. This incorporation of AI in HUD is expected to increase the Head Up Display Market size.
The automotive application segment is expected to account for the largest market share over the forecast period. The section of aviation follows next due to most commercial aircraft adopting head-up display systems for optimal landing and takeoff.
Major factors driving market growth in the North American area are the emergence of major technology firms and significant investments made in head-up display R&D. North America currently holds a large Head Up Display Market share in the global market.
Europe's market closely follows the North American region. The market growth in this region is attributed to the increasing awareness among individuals about the benefits offered by head-up displays.
The global Asia Pacific market is expected to account for a comparatively higher CAGR due to an increasing perception among users of the benefits the technology provides.
Furthermore, the growth in living standards and rising disposable income are driving the growth of the Head Up Display Market size.
The global Head Up Display market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Head Up Display market will be able to gain the upper hand as they use the report as a powerful resource
The key drivers of the Automotive HUD Market are increased adoption rate of advanced technologies by OEMs, fast generation of real-time and reliable data from advanced driver assistance systems, and growing connected vehicles.
Furthermore, increasing demand for portable HUDs, the advent of semi-automatic and electric vehicles would further generate new opportunities for the automotive HUD market during the forecast period.
The North American market is expected to hold the largest Automotive HUD Market size during the forecast period. The North American and European automobile markets are two of the most technology-sensitive markets, and the HUD systems are adopted on a larger scale in these markets. The Asia Pacific market is expected to witness the highest growth rate due to the increasing demand for luxury cars.
Top companies in the Automotive HUD Market are, Robert Bosch, Panasonic, Continental, DENSO, Visteon, NIPPON SEIKI, Pioneer, Yazaki, Harman, Garmin, Microvision, LG Display, etc.
Aerospace head-up displays have its applications in both military and defense and civil aviation. Civil aviation and commercial aviation are expected to gain traction of aerospace head up displays in the forecast period. Presently, higher adoption of aerospace head up displays is observed in military and defense.
Head up display software is designed to handle content presented in the most user-friendly and versatile manner on a head-up display. Head-up displays are holographic projections that are used to provide details on different aspects. The head-up display's key application is in driving, showing details such as current vehicle speed, fuel level, current consumption rate, and navigation directions.
This report focuses on the global Head Up Display Software status, future forecast, growth opportunity, key market, and key players. The study objectives are to present the Head Up Display Software development in the United States, Europe, and China.
The major regions covered in the report are North America, Europe, Asia-Pacific, South America, Middle East & Africa, etc.
The Head Up Display Ecosystem Market report lists the major manufacturers in the regions and their respective market share on the basis of global revenue. It also explains their strategic moves in the past few years, investments in product innovation, and leadership changes to stay ahead in the competition.
The global Augmented Reality (AR) Market size is projected to reach USD 3664.5 Million by 2026, from USD 849 Million in 2019, at a CAGR of 27.6% during 2020-2026.
The increasing demand for AR devices and applications in medical, increase in demand for AR in the retail and e-commerce, and rising investment are the major drivers for Augmented Reality Market size growth.
The global Mixed Reality market size is projected to reach USD 4454.1 Million by 2026, from USD 196 Million in 2019, at a CAGR of 68.3% during 2020-2026.
Increased adoption of new technology equipment in various educational institutions is expected to increase the mixed reality market size during the forecast period. Furthermore, the surge in the adoption of mixed reality technology in the gaming and entertainment industries is expected to fuel the growth of mixed reality market size.
The Global Virtual Reality Market Size is growing with a CAGR of 34.5% during the forecasted period 2019 to 2025
North America is expected to hold the largest size of the virtual reality market, while the market in Asia-Pacific is estimated to grow at the highest rate. Countries such as China, India, Japan, and South Korea in the APAC region are witnessing a huge demand for head-mounted displays for the gaming application.
The report lists the major manufacturers in the regions and their respective market share on the basis of global revenue. It also explains their strategic moves in the past few years, investments in product innovation, and leadership changes to stay ahead in the competition.
The global AR and VR market size was USD 11.35 Billion in 2017, and the augmented and virtual reality market forecast is projected to reach USD 571.42 Billion by 2025, growing at a CAGR of 63.3% from 2018 to 2025.
The study presents an in-depth analysis of the global augmented and virtual reality market along with the current & future trends to elucidate the imminent investment pockets.
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