ALBANY, New York, September 12, 2018 /PRNewswire/ --
The global head-up display market has fragmented landscape, observes Transparency Market Research (TMR). Some of the key players operating in the head-up display market are Continental AG, BAE Systems plc, Nippon Seiki Co. Ltd., Rockwell Collins Inc., and Thales Group. These key players are focusing on product innovation. For this, these companies are increasingly adopting the strategies such as merger and acquisition for improving their product portfolio and business expansion. These companies are increasingly investing in research and development activities for the development of novel devices.
According to a report by Transparency Market Research (TMR), the global head-up display market stood at US$1.76 bn in 2014 and expected to expand with impressive CAGR of 19.1% to attain the value of US$7.05 bn by 2022 over the forecast period from 2015 to 2022. Based on application, the aviation industry accounted for approximately 79% shares of the market. Based on the region, North America dominated the global head-up display market in 2014.
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Growing Demand for Safety Systems to Emerge as Key Growth Driver
Head-up displays (HUDs) are transparent displays which display the information and data which guides the driver to ensure safety. HUDs provides the comfort and entertainment coupled with does not effect on focus of driver. Additionally, the device offers several other advantages such as assistance to the driver to reduce the accidents on road and easy access to the information of road. These factors are boosting adoption by consumers is likely to fuel the growth of the global head-up display market.
In addition, growing demand for safety systems and luxury facilities in the high-end cars are boosting adoption of the HUDs and likely to drive the growth of the HUDs market. Widening application of HUDs in the automobile, civil aviation, gaming, sports and infotainment applications, and military and aviation purposes are augmenting the growth of the head-up display market.
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High Cost of Manufacturing to Limit Adoption
Despite these growth prospects, the high cost of head-up display manufacturing is hampering the growth of the head-up display market. Nevertheless, the technology was thus able to attract only large manufacturers of automotive, until now, the small companies operating in the automotive market are also offering the display to ensure safety while driving. In addition, the companies are investing in the research regarding the displays to improve the existing devices. The launch of portable HUDs at lower prices may spur the growth of HUDs in low and middle car segments are creating lucrative growth opportunities for key players by the end of the forecast period.
This information is encompassed in the new report by TMR, titled "Head-up Display Market (By Type - Combiner Projected HUDs and Windshield Projected HUDs; By Applications - Aviation, Automotive, and Other (Sports, Gaming, etc.)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020."
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For the study, the Head-up Display Market has been segmented as follows:
Head-up Display Market by Type:
- Combiner Projected HUDs
- Windshield Projected HUDs
Head-up Display Market by Applications:
- Other (Sports, Gaming, etc.)
Head-up Display Market by Geography:
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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SOURCE Transparency Market Research