Automotive HUD Market worth $2.4 billion by 2030 | MarketsandMarkets

CHICAGO, May 23, 2024 /PRNewswire/ -- Automotive HUD Market size is projected to grow from USD 1.2 billion in 2024 to USD 2.4 billion by 2030, at a CAGR of 12.3%, according to a new report by MarketsandMarkets. Automotive HUD solutions are in great demand due to the growing emphasis on both vehicle and passenger safety, the steady rise of high-end car segments, particularly in emerging markets, and the growing demand for better in-vehicle experiences.

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Automotive HUD Market Scope:

BEV segment is expected to have largest share in the global automotive HUD market.

Government agencies and OEMs are launching programs to encourage the usage of electric vehicles (EVs) in response to the daily rise in vehicle emissions. BEVs are EVs that get their power from chemical energy kept in rechargeable battery packs. Advancements in battery technology are essential to the expansion and prosperity of BEVs. As a result, a large number of automakers are spearheading the development of battery technology. With over half of all sales worldwide, China continues to be largest market for BEVs, although BEV usage in Europe has been expanding quickly. OEMs are making an effort to provide better driving experiences as the use of BEVs grows. HUDs are even more important for guaranteeing a safe driving experience when driving an electric vehicle (EV), as drivers may need extra information on energy use and charging facilities. HUDs are standard on a few vehicles, including the BMW iX BEV, Audi Q4 e-tron, Mercedes-Benz S-Class, and Porsche Macan EV.

3D HUD segment is expected to have significant growth opportunities in global automotive HUD market.

During the forecast period, the 3D HUD category is expected to present considerable growth prospects.

Customers will have a more engaging driving experience because of the ease with which 3D HUD may incorporate AR features. In order to give drivers a thorough awareness of their surroundings, augmented reality features can include dynamic navigation overlays, virtual lane assistance, and the ability to indicate potential hazards on the road. AR technology is a major emphasis for several automotive HUD suppliers. Due to the abovementioned factors, the 3D HUD industry is anticipated to increase significantly in near future.  3D HUDs are being developed by many HUD manufacturers, such as WayRay AG, Continental AG, Panasonic Holdings Corporation, and Visteon Corporation, as well as component suppliers, such as NVIDIA and Zecotek. The advanced technologies like ADAS are becoming more widely used and augmented reality technology like HUDs is receiving more attention. The 3D HUD market's revenue growth in this area is expected to be supported by all these factors.

"China to lead the automotive HUD market in Asia Pacific."

China is the largest vehicle market in the Asia Pacific and one of the biggest automobile markets worldwide, is expected to have significant growth in the automotive HUD industry. Due to changes in investment policies, including the relaxation of labor constraints and the lowering of labor costs, as well as the nation's expanding demand for passenger automobiles, domestic car production has expanded. Regulations controlling vehicle safety are another factor driving the nation's ADAS industry. Since 2021, the government has issued new ADAS requirements, mostly pertaining to blind spot detection and lane keep assist devices. China's HUD solution providers are expected to have greater opportunities due to these guidelines.  OEMs such as BYD, Chery, Geely, SAIC among others provide cars with HUDs in China.

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Automotive HUD Market Dynamics:

Drivers:

1. Steady growth in demand for luxury and high-end segment cars, mainly in emerging markets

Restraints:

1. Requirement for greater space in automotive cockpits

Opportunities:

1. Increasing demand for semi-autonomous vehicles

Challenge:

1. Optical Challenges in head-up disp lay systems

Key Market Players of Automotive HUD Industry:

Prominent players in the Automotive HUD Market include Nippon Seiki Co. Ltd. (Japan), Continental AG (Germany), DENSO Corporation (Japan), Panasonic Holdings Corporation (Japan), and Foryou Corporation (China), among others. 

The break-down of primary participants is as mentioned below:

• By Company Type: Automotive HUD Manufacturers – 60%, OEMs – 20%, and Tier 2 –20%,
• By Designation: CXOs– 23%, Manager – 43%, and Executives – 34%
• By Region: North America – 30%, Europe – 45%, and Asia Pacific – 25%

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Automotive HUD Industry Recent Developments:

• In March 2024, Panasonic Holdings Corporation and Mazda Motor Corporation partnered and installed full-display meters for the CX-70 model of Mazda Motor Corporation. The CX-70 integrates a large 12.3-inch display, showcasing graphics of the vehicle conditions, such as speed and warnings. It adapts in real-time to offer drivers timely and pertinent information, enhancing their safety and driving experience.
• In February 2024, Nippon Seiki Co., Ltd. and FPT Software partnered to develop automotive HUD platforms and applications for automobiles and motorcycles.
• In July 2023, Panasonic Automotive Systems Co., Ltd., Holding of Panasonic Holdings Corporation, announced that its intelligent room mirror (electronic mirror), linked with a drive recorder and HUD, has been adopted for the new Nissan Serena e-Power. The HUD linked with the mirror uses a 2-megapixel camera, a high-resolution display, and proprietary image processing technology to achieve high-definition images and improved nighttime visibility.

Automotive HUD Market Size - Key Benefits of Buying the Report:

• The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall automotive HUD market and the subsegments.
• This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
• The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

This report provides insights on:

• Analysis of key drivers (Increasing awareness about passenger and vehicle safety, demand for enhanced in-vehicle experience, rising demand for connected vehicles, steady growth in demand for luxury and high-end segment cars, mainly in emerging markets), restraints (Requirement for greater space in automotive cockpits, lack of luminance and high-power consumption), opportunities (Increasing demand for semi-autonomous vehicles, rising penetration of electric vehicles, introduction of portable HUDs at lower prices in low and middle-segment cars, increasing investment in automotive head-up displays), and challenges (Optical Challenges in head-up display systems, integration with existing infrastructure) influencing the growth of the automotive HUD market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the automotive HUD market
• Market Development: Comprehensive information about lucrative markets – the report analyses the automotive HUD market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the automotive HUD market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Nippon Seiki Co. Ltd. (Japan), Continental AG (Germany), DENSO Corporation (Japan), Panasonic Holdings Corporation (Japan), and Foryou Corporation (China), among others in the automotive HUD market

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