LONDON--(BUSINESS WIRE)--The heads-up display (HUD) market is expected to grow by USD 2.18 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The demand for air travel is likely to double over the next two decades, mainly driven by countries such as China, India, Indonesia, Russia, and the US. The year-over-year increase in air traffic has essentialized the induction of new aircraft, encouraging automotive OEMs to invest in capacity augmentation. HUDs help pilots during takeoff and landing in uncertain environmental conditions such as foggy weather. Moreover, most aviation administrations around the world have mandates on the use of enhanced flight vision systems to reduce accidents and increase passenger safety. As the aviation industry has in the past accounted for a major share of the HUD market, an increase in the orders for new-generation aircraft will also drive the growth of the HUD market.
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As per Technavio, the advances in AR HUD will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Heads-Up Display (HUD) Market : Advances in AR HUD
AR HUDs generate a comprehensive view for the driver, which is a combination of the real scene viewed by end-users and an augmented, computer-generated virtual scene with additional information. AR HUDs allow a wide field of view, which enhances driver assistance systems such as blind spot detection, upcoming lane change, and exit directions. Camera, LiDAR-based sensors, GPS modules, and Wi-Fi are the essential building blocks required to manufacture AR HUD. WayRay SA, Continental AG, Denso Corp., and DigiLens Inc., are some of the vendors that manufacture AR HUDs. Moreover, vendors are collaborating with peer companies to improve product features. For instance, in October 2018, Continental AG launched a full-color demonstrator of an automotive-specific AR HUD that is based on waveguide technology. Thus, advances in AR HUD are expected to drive the growth of the market.
“Factors such as the growing focus on development of autonomous vehicles, and the development of electric aircrafts will have a positive impact on the growth of the heads-up display (HUD) market during the forecast period,” says a senior analyst at Technavio.
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Heads-Up Display (HUD) Market: Segmentation Analysis
This market research report segments the heads-up display (HUD) market by end-user (aviation, automotive and others), and geography (APAC, Europe, MEA, North America and South America).
The European region led the heads-up display (HUD) market in 2019, followed by APAC, North America, MEA and South America. During the forecast period, the European region is expected to register the highest incremental growth due to factors such as the rising penetration of HUDs in the commercial vehicle segment and increasing investments in aircraft manufacturing facilities.
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Some of the key topics covered in the report include:
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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