LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global automotive augmented reality HUD market to grow at a CAGR of over 70% during the period 2018-2022, according to their latest report.
In this report, Technavio highlights the development of flexible AR HUD as one of the key emerging trends in the global automotive augmented reality HUD market. AR HUDs have grown popular in the automotive ecosystem due to their interactive nature that decreases driver distraction significantly. Development of flexible AR HUD is a major breakthrough in the global automotive AR HUD market. Flexible AR HUD has a transparent flexible display that can be used in multiple ways with different functionalities ensuring a safer and more comfortable driving experience. When not in use, this flexible display can be rolled around a predetermined shaft, and the driver can adjust it to the desired position when needed. This flexible AR HUD displays vehicle information such as speed, traffic, signs, navigation, remaining fuel amount, vehicle faults, and traffic information. AR HUD can connect to the server at home, thereby enabling surveillance, through the Internet of things (IoT).
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In this report, Technavio analysts highlight the adoption of integrated diffractive optics as a key factor contributing to the growth of the global automotive augmented reality HUD market:
Adoption of integrated diffractive optics
Recently, limited field of vision was a barrier for HUD application. However, the development of diffractive optical waveguide technology by DigiLens has eliminated the same. This technology uses nanotechnology materials that cost less and are simple to manufacture. DigiLens manufactured diffractive optics by photographically recording nanostructures. This technology enables the creation of thinner AR HUDs for various applications, including car windshields.
According to a senior analyst at Technavio for automotive electronics, “As optics is a key enabler of AR, this technology has reduced the size and form of AR HUD’s kit allowing its adoption in vehicles facing interior space constraints. The added advantage for AR HUDs provided by this technology is the low manufacturing cost enabled by this technology.”
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Global automotive augmented reality HUD market segmentation
This market research report segments the global automotive augmented reality HUD market into the following end-users (OEMs and aftermarket) and key regions (the Americas, APAC, and EMEA).
Of the two end-users, the aftermarket segment held the largest market share in 2017, accounting for nearly 84% of the market. The market share for this end-user is expected to witness a massive decline of nearly 55% by 2022. The fastest growing end-user is OEMs, which will account for nearly 70% of the total market share by 2022.
EMEA was the leading region for the global automotive augmented reality HUD market in 2017, accounting for a market share of nearly 43%. By 2022, APAC is expected to register an enormous growth of nearly 11%.
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