The global head-up display market size is expected to grow from USD 5,297.8 million in 2020 to USD 19,118.3 million by 2027, at a CAGR of 20.1% from 2021 to 2027. The head-up display is a projection unit that projects a brightly lit video or image onto a transparent surface. The primary function of head-up display is to eliminate users’ need to take away their gaze from the road to the infotainment dashboard. These displays emit details, such as the turn-by-turn navigation, current speed, posted road signs, and blind-spot warnings, directly into the driver's or pilots’ field of view such that their vision remains forward. Originally, the head-up displays were invented for military aircraft; however, their implementation in premium automotive has witnessed popularity in recent years.

The head-up display market is anticipated to witness growth during the forecast period due to challenging driving conditions with increasing population and the number of vehicles on the road. Also, enhanced safety offered by the head-up displays drives the market growth. Additionally, advancement in augmented reality technology is estimated to revolutionize the head-up display market. Considering these factors, it is estimated that the head-up display market will experience steep growth in the near future.

The factors such as the higher penetration rate of head-up displays in the defense and aerospace sector are some of the other drivers for the head-up display market growth. However, the cost of head-up displays acts as a major restraint, which hinders the market growth. Furthermore, the development of connected cars and the emergence of new head-up display applications provide lucrative opportunities for the head-up display market.

Request Sample Copy of this Report: https://www.marketstatsville.com/request-sample/head-up-display-market

COVID-19 Impact on the Global Head-up Display

The emergence of COVID-19 has severely impacted the head-up display market, owing to the adverse effects of the COVID-19 pandemic on the end user industry. It has also led to geopolitical uncertainties. However, the market players have focused on near-term priorities such as meeting customer priorities as they face unique challenges and supporting the supply chain to deal with pandemic-related disruption.

Governments in key markets have prioritized defense and security in the current threat environment; therefore, the defense sector has strong demand. However, the commercial aerospace sector is experiencing severe loss as no new orders have been placed during the pandemic. This impact is estimated to continue till 2021. Furthermore, the international automobile markets are in a very week state, owing to the lockdowns imposed that continued for several weeks to tackle the pandemic. Although the vehicles markets in the U.S. and Europe are estimated to witness mild recovery in the second half of 2020, they are still significantly down on pre-crisis levels. Therefore, the head-up display market is facing major obstacles due to the emergence of the COVID-19 pandemic.

Global Head-up Display Market Dynamics

Drivers: Increase in demand for high-tech vehicles

With advancing technologies in all spheres of life, there is a considerably high demand for high-tech automotive. According to the 2017 Autotrader Car Tech Impact Study, 48% of consumers focus on in-vehicle technology while purchasing a vehicle. About 55% of consumers are willing to spend more to get the tech features they want in their vehicles. Therefore, it is evident that consumers give more importance to technology than brand or body style.

In addition, consumers believe that certain high-tech safety features must be standard for all vehicles. Besides, the idea of autonomous vehicles is gaining popularity among consumers and is anticipated to evolve the automotive sector considerably. All these factors highly favor the development and adoption of head-up displays in the automotive sector.

Restraints: The cost of the head-up display is the biggest restrain for the market growth

In most vehicles, vehicle navigation and infotainment systems have been found commonplace since years. Although the technology is relatively outdated, the cost of these systems hasn’t been reduced in years. On the other hand, smartphones have evolved largely in a short span of time, and they continue to include many advanced features such as navigation.

Consequently, consumers have been less likely to choose the expensive navigation and infotainment systems while buying a vehicle. Therefore, automakers need to economize the new technologies in navigation and infotainment systems for greater adoption.

Opportunities: Emergence of new applications

The major applications of head-up displays are aircraft and vehicles. Besides these, there are many new emerging applications of head-up displays, which boost the market growth. New applications at museums, exhibition stands, or car dealerships allow the users to display additional information in the real world. Headup displays for these applications can be developed up to 80 inches in size. Moreover, head-up displays can be excellent eye-catchers at trade shows. Therefore, many such applications are estimated to emerge over time, fueling the head-up display market growth.

Scope of the Report

The study categorizes the head-up display market based on type, technology, end-user, and sales at the regional and global levels.

Direct Purchase Report: https://www.marketstatsville.com/buy-now/head-up-display-market?opt=2950

By Type Outlook (Thousand Units, Revenue, 2017-2027, USD Million)

  • Windshield-based
  • Combiner-based

By Technology Outlook (Thousand Units, Revenue, 2017-2027, USD Million)

  • Conventional
  • AR-based

By End-User Outlook (Thousand Units, Revenue, 2017-2027, USD Million)

  • Aerospace
    • Civil
    • Military
  • Automotive

By Sales Channel Outlook (Thousand Units, Revenue, 2017-2027, USD Million)

  • OEMs
  • Aftermarket

Access full Report Description, TOC, Table of Figure, Chart, etc: https://www.marketstatsville.com/table-of-content/head-up-display-market

By Region Outlook (Thousand Units, Revenue, 2017-2027, USD Million)

  • North America (US, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
  • The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

By type, the head-up display segment is projected to account for the largest market share

On the basis of type, the head-up display market includes windshield-based and combiner-based. In 2020, The combiner-based segment was the highest contributor to the market, having a 54.5% share in the global head-up display market. A combiner-based head-up display uses a partially reflective screen, such as transparent glass, to display information in the driver's line of sight. There are two types of combiner glasses available, conventional optical combiners and waveguide combiners. During recent years, combiners have evolved from simple semitransparent flat surfaces that passively reflected light from projectors to sophisticated conformational holograms that diffract selective wavelengths and act as relay lenses. This evolution has been promoted to maximize the field of view (FoV) of the projected image to maintain a comfortable viewing experience and minimize the size of the projector. Various companies develop this technology in their products due to its advancements.

Request For Report Description: https://www.marketstatsville.com/head-up-display-market

Asia Pacific accounts for the highest CAGR during the forecast period

The head-up display market segmentation is segmented into North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Europe is the fastest-growing region with a CAGR of 22.0% during the forecast period. Europe includes the UK, Germany, France, and the rest of Europe. This region is a hub for leading market players for both the automotive and aerospace sectors. Therefore, the head-up display market holds potential demand from this region.

After Europe, North America is the fastest-growing region and has a CAGR of 20.9% during the forecast period. The rise in awareness about active safety systems in aircraft and automobiles is the prime factor that fuels the growth of the North America head-up display market. Moreover, there are significant investments in research activities of augmented reality from market players present in this region. The advancement of augmented reality technology is estimated to propel the head-up display market during the forecast period by offering improved real-time information to the user. Therefore, North America is expected to witness a high growth rate for the head-up display market during the forecast period.

Key Market Players

Continental AG, BAE Systems, Denso Corporation, Nippon Seiki Co., Ltd., Elbit Systems Ltd., Panasonic Corporation, STMicroelectronics, Texas Instruments Incorporated, Rockwell Collins, and Visteon Corporation are among the main head-up display market competitors profiled in this study.

To gain the most market share, each firm has its unique business plan. The major head-up display market companies are Elbit Systems Ltd., Continental AG, Rockwell Collins, Denso Corporation, and Panasonic Corporation.

BROWSE RELATED REPORTS

https://www.spoke.com/topics/material-handling-equipment-market-to-set-phenomenal-growth-in-key-regions-by-2030-63724d3400d3e3212401a2cc

https://www.linkedin.com/pulse/lab-automation-market-intelligence-study-insights-v%25EA%25AD%25B5-%25EA%25AD%25B5%25C5%2588-rai/?published=t

https://www.klusster.com/portfolios/riteshmsg/contents/412367?code=2b620748-3b08-44cd-a64a-ba621a31439c&share_content=true