The evolution of technology has compelled manufacturers for developing units which can extend the comfort of users. Head-up displays (HUDs) are devices which display information pertaining to users in their line of sight without causing any distractions. The global head-up display market report by Market Research Future (MRFR) illustrates readers on current and future technological updates on HUDs as well as its prospects between 2016 and 2022 (forecast period).
The global Head-Up Display Market is touted to touch a valuation of USD 11 billion by 2022 exhibiting 24% CAGR over the forecast period, as per MRFR. Technological breakthroughs in military and aviation sectors which can assist pilots and drivers to complete their missions with efficiency can drive the market demand. The shifting focus of HUD manufacturers to improve the safety of drivers and lower collision and accident rates is likely to augur well for the market. Moreover, the displays act as a dual role for talking to peer and families without being distracted by smartphones. Improved standards of living and expendable income levels are other factors which can be possible catalysts of growth in the market.
Low light efficiency in these devices can pose a challenge to the market growth.
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Key market players include Visteon Corporation, BAE Systems Inc., Micro Vision Inc., Saab Automobile AB, Continental AG, Penny AB, Honeywell Aerospace, Esterline Technologies Corporation, Nippon Seiki Co. Ltd, Denso Corporation, Yazaki Corporation, Robert Bosch GMBH, Hudway, and others. Investments in research and development to improve the display text as well as enhance the intelligence of digital assistants to improve the navigation in vehicles are prime strategies of these players.
The global head-up display market is segmented by type, component, and application.
By type, it is segmented into helmet-mounted and fixed-mounted displays.
By component, it is segmented into video generator, projector unit, and combiner.
By application, it is segmented into automotive, civil aviation, military, and others. The automotive application can be the biggest during the forecast period due to the resurgence of the auto sector and renewed production of cars in developing and developed economies. In addition, the latest designs of electric and hybrid vehicles contain HUD units can drive the segment growth. Connectivity technologies which ensure the safety of passengers can bode well for the head-up display market growth.
The head-up display market looks upon the following regions – Asia Pacific (APAC), Europe, North America, and Rest-of-the-World (RoW), for a careful consideration of the impending demand.
North America is expected to dominate the global market owing to policies emphasizing on customer safety. Installation of HUD units in latest iterations of cars and aircraft can induce market demand and drive market revenue exponentially.
Europe is estimated to gain the second position in the market due to penchant of customers towards procurement of luxury and supercars. Voice control and gesture recognition features in the latest HUD systems can drive its sales in the region.
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The APAC region is projected to exhibit a rapid pace, in terms of growth, due to shift of production units of major automotive manufacturers in the region. Installation of HUD units in mid-segment cars is likely to spur market demand in the coming years. The success enjoyed by the automotive sector in India, Japan, and China is another catalyst working in favor of the head-up display market.
The SkyDisplay HUD system by MyGoFlight (MGF) is expected to receive approval from the Federal Aviation Agency (FAA) which would ensure the commercialization the product by the end of 2019. The installation of the system in aircraft is bound to increase the awareness of pilots as well as be aware of any environmental dangers due to the navigation system in the HUD.
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