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The global heads-up display (HUD) market size is estimated to grow at a CAGR of 4.28% between 2022 and 2027. The heads-up display (HUD) market size is forecast to increase by USD 1,124.87 million. The growth of the market depends on several factors, including the growing awareness regarding passenger and vehicle safety, the increasing demand for commercial aircraft, and the rising demand from the luxury vehicles segment.
This heads-up display (HUD) market report extensively covers market segmentation by end-user (aviation, automotive, locomotive, and construction equipment), technology (conventional and ar-based), and geography (Europe, APAC, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing awareness regarding passenger and vehicle safety is the key factor driving the growth of the global heads-up display (HUD) market.
In recent years, there has been an increase in traffic accidents caused by distracted driving. According to the World Health Organization (WHO), distracted driving is one of the most important risk factors for road fatalities, followed by fast driving and drunk driving. As per a report published by the National Highway Traffic Safety Administration (NHTSA), more than 42,915 people died in motor vehicle traffic crashes in 2021, which is a 10.5% increase from the 38,824 fatalities in 2020, and a majority of these accidents were attributed to drivers errors.
However, in July 2022, the European Union came under a new set of rules under the Vehicle General Safety Regulations, which mandated new vehicles to be equipped with a range of ADAS to improve road safety and protect passengers, pedestrians, and cyclists across the EU. HUDs, as part of the ADAS framework, would benefit from the regulations. New display options, such as reconfigurable automotive instrument clusters and AR HUD, can provide the information the driver needs right behind the wheel or on the front glass. This will reduce drivers` need to consider vehicles' center console, thus minimizing the total eyes-off-road time and total glance times. Therefore, to curb accidents related to driver distraction, most automotive OEMs and automobile buyers are opting for HUDs.
The advent of holographic in HUD is the primary trend in the global heads-up display (HUD) market.
The holographic film is another emerging technology that is having a similar impact on the size and performance of HUD applications. The combination of recent advances in polymer films and new printing techniques has opened up new possibilities for holographic films. Holographic can be used as optical elements to shape and bend light. The functionality of multiple conventional optical lenses can be combined into one holographic film recording, and this significantly reduces the overall size of the optical system.
For reducing the size of a HUD system, one or more holographic films can be used. They replace the functionality of large, curved mirror elements that are generally used, as well as eliminate the need for large air space between elements. This reduction in size enables the HUD to project better and bigger /images. WayRay introduced Navion, a holographic AR navigation system for cars. It displays route information using AR. The AR interface is visible at a comfortable 30-foot distance ahead of the car, with information seamlessly integrated into the real world. This helps drivers to maintain their focus on the roads. Such factors will increase the market growth during the forecast period.
The high cost of HUDs is a major challenge to the growth of the global heads-up display (HUD) market.
HUDs are still in the development stage and are not yet widespread. HUD end-users are mainly limited to luxury cars and airplanes, and the high cost of production has reduced the number of manufacturers entering the HUD market. This has resulted in a high ASP of HUDs in the automotive sector, which is a critical factor as this cost is passed on to customers. Although the ASP of HUDs has witnessed a steep decline over the years, AR-based and advanced HUDs still fall under the higher end of the price range.
Moreover, automotive OEMs operate at a low-profit margin and are constantly making efforts to reduce their costs. The high cost of HUDs restricted their adoption to premium and luxury cars initially, and now, they are being limited to mid-size cars. Manufacturers are trying to reduce the cost through mass manufacturing. Though some states in the US are planning to draft regulations that mandate new cars to be equipped with HUDs, a majority of countries globally are yet to implement stringent mandates on the adoption of HUDs in automobiles. Therefore, the high cost of HUDs acts as a major barrier to the adoption of HUDs, especially in passenger and mid-sized cars. Such factors will hinder market growth during the forecast period.
The market share growth by the aviation segment will be significant during the forecast period. HUD was first integrated into military aviation, and after successful implementation, it was integrated into civil aviation. The development of HUDs and the growth of commercial aircraft operations have led to the massive deployment of HUD systems on commercial aircraft. Such factors will increase the aviation segment growth during the forecast period.
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The aviation segment was valued at USD 1,992.62 million in 2017 and continue to grow by 2021. The high prevalence of HUD systems in the aviation industry stems from the need to meet stringent safety standards and an increase in aircraft accidents due to hazardous weather conditions. Therefore, most airlines are increasingly considering incorporating HUD systems in commercial aircraft to improve controllability during landing and takeoff, especially in hazardous environmental conditions. Therefore, increasing demand for aftermarket HUDs is expected to boost the growth of the global HUD market in the aviation industry during the forecast period.
A HUD is any transparent display that displays data without needing viewers to shift their gaze away from their normal viewing angles. The term derives from a pilot's ability to examine the information with the head "up" and facing forward rather than inclined down and gazing at lower instruments. A conventional HUD offers information in a 2D fixed orientation at a fixed distance. The conventional HUD holds the largest market share in 2022 and is expected to dominate the global HUD market during the forecast period owing to the low cost associated with production and sales.
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Europe is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In Europe, increasing penetration of HUDs in the commercial vehicle segment and increased investment in aircraft manufacturing plants are the major factors driving the market growth. Demand for HUDs for construction equipment and locomotives is limited. However, increased cooperation between OEMs and HUD vendors in the region is expected to provide growth opportunities for HUD manufacturers in various market segments during the forecast period.
The COVID-19 outbreak negatively impacted the growth of the HUD market in the European region in 2020. However, in 2021, due to the vaccination drives carried out by the governments of several countries such as Italy, Germany, and France, many business and industrial activities related to HUD production resumed, which increased the sales of vehicles and resulted in a positive impact on the demand for HUDs across Europe. Furthermore, the rising adoption of advanced AR technologies in HUDs due to safety requirements will fuel the growth of the HUD market in Europe during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Elbit Systems Ltd.: The company offers heads-up displays such as Elop heads-up displays. Also, the company provides a broad portfolio of airborne, land, and naval systems as well as products for defense, homeland security, and commercial applications.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Heads-Up Display (HUD) Market Customer Landscape
The heads-up display (HUD) market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Heads-Up Display (HUD) Market Scope |
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Report Coverage |
Details |
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Page number |
174 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.28% |
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Market growth 2023-2027 |
USD 1,124.87 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
3.73 |
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Regional analysis |
Europe, APAC, North America, Middle East and Africa, and South America |
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Performing market contribution |
Europe at 38% |
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Key countries |
US, China, France, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
BAE Systems Plc, BorgWarner Inc., Continental AG, DENSO Corp., Elbit Systems Ltd., Garmin Ltd., HOLOEYE Photonics AG, Honeywell International Inc., MicroVision Inc., Nippon Seiki Co. Ltd., Panasonic Holdings Corp., Pioneer Corp., Raytheon Technologies Corp., Robert Bosch GmbH, Saab AB, STMicroelectronics NV, Thales Group, Visteon Corp., WayRay AG, and Yazaki Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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