Driven by the recent boom in the automotive industry, and the emergence of electric and semi-autonomous vehicles, the global automotive head-up display (HUD) market is anticipated to exhibit a CAGR of 21.74% CAGR during the forecast period of 2019-2027 to capture a revenue of $5.54 billion by 2027.
The booming automotive industry, increased demand for connected vehicles, growing concerns & awareness about passenger & vehicle safety, increasing per capita income across geographies and the emergence of electric & semi-autonomous vehicles are primarily driving the global market.
But, with the increased adoption of Automotive Head-Up Display (HUD), newer challenges have been introduced into the market. The high cost of automotive HUD systems is the key challenge. Due to the high cost of automotive head-up display systems, consumers opt for the alternative system which is available at lower costs. This is expected to hinder the demand and adoption of automotive HUDs.
Regionally, the market is segmented into Europe, Asia-Pacific, North America, and the remaining countries collectively forming the Rest of World segment. North America dominates the global market due to the growing disposable income of the population and the presence of global giants who are actively involved in the R&D for Automotive HUDs. The presence of a pool of companies offering automotive head-up display system as a standard in vehicles and the positive government stance on autonomous cars is profitable for the regional market.
On the other hand, it is the Asia-Pacific market that is expected to register a very healthy CAGR by the end of the forecast period. The region is globally renowned for its production as well as the export of vehicles.
Market share analysis, key company analysis, key corporate strategies along with company profiles of the key companies are discussed in detail. Eminent market players like Garmin International Inc., Panasonic Corporation, BAE Systems Inc., Robert Bosch GmbH, Harman International Incorporated, Texas Instruments Inc., Pioneer Corporation, LG Display Co. Ltd., Microvision Inc., Continental AG, Yazaki Corporation, Nippon Seiki Co. Ltd., Denso Corporation, and Visteon Corporation are competing in the global automotive HUD market.