Head-up Display (HUD) Market - 2027
The global head-up display market size was valued at $6.0 billion in 2019, and is projected to reach $19.1 billion by 2027, registering a CAGR of 20.1% from 2020 to 2027.
Head-up display is a projection unit that projects a brightly lit image or video onto a transparent surface. The primary function of head-up display is to eliminate users’ need to take away their gaze from road to infotainment dashboard. These displays emit details such as the current speed, turn-by-turn navigation, posted road signs, and blind spot warnings directly into the drivers’ or pilots’ field of view such that their vision remains forward where danger lies. Originally, the head-up displays were invented for military aircrafts; however, its implementation in premium automotive witnessed popularity in the recent years.
The head-up display market is expected to witness growth during the forecast period due to challenging driving conditions with increasing population and number of vehicles on road. Furthermore, enhanced safety offered by the head-up displays drives the market growth. Moreover, advancement in augmented reality technology is estimated to revolutionize the head-up display market. Considering these factors, it is estimated that the HUD market will experience steep growth in the near future.
The factors such as higher penetration rate of head-up displays in aerospace and defense sector are some of the other drivers for the head-up display market growth. However, cost of head-up displays act as a major restraint, which hinders the market growth. Furthermore, development of connected cars and emergence of new applications of head-up displays provide lucrative opportunities for the head-up display market.
The emergence of COVID-19 has adversely impacted the HUD market, owing to very weak state of international automobile markets, primarily due to partial or full lockdown imposed to tackle the pandemic. The new registrations of vehicles recorded in 2020 is significantly low. However, the head-up display is estimated to grow post-COVID pandemic, owing to increasing demand for connected cars during the forecast period.
The global head-up display market is analyzed by type, technology, end user, sales channel, and region. Based on type, it is fragmented into windshield-based and combiner-based. The combiner-based segment dominated the head-up display market in terms of revenue in 2019; however, the windshield-based segment grows with highest CAGR during the forecast period. On the basis of technology, the market is segregated into conventional and AR-based. The conventional segment accounted for the highest market share in 2019, and the AR-based segment is expected to grow at a highest CAGR from 2020 to 2027.
By Type
Combiner-based segment is projected as one of the most lucrative segments.
By end user, the market is divided into aerospace and automotive. The aerospace segment is further sub-segmented into civil and military. The global head-up display market is dominated by the automotive end user segment in terms of value. Based on sales channel, the market is categorized into OEMs and aftermarket. The OEMs segment attributes prominent market share in 2019, and is expected to follow same trend during the forecast period.
Based on region, the global head-up display market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Europe accounted for the highest share, owing to presence of significant number of market players. Increase in demand for connected cars or premium cars during the forecast period makes the Europe region a prominent market for head-up display. North America was the second largest contributor in terms of revenue, and is expected to witness significant growth during the forecast period, owing to significant investments in augmented reality technology.
By Sales Channel
OEMs segment is expected to secure leading position during forecast period.
Top Impacting Factors
The significant impacting factors in the head-up display market include increase in number of vehicles on road, development of connected cars, and advancement of augmented reality technology. However, cost of head-up display is expected to hinder the market growth. Conversely, emergence of new applications is projected to offer remunerative opportunities to the head-up display market. Each of these factors is anticipated to have a definite impact on the market during the forecast period.
Competition Analysis
Competitive analysis and profiles of the major head-up display market players such as BAE Systems, Continental AG, Denso Corporation, Elbit Systems Ltd., Nippon Seiki Co., Ltd., Panasonic Corporation, Rockwell Collins, STMicroelectronics, Texas Instruments Incorporated, and Visteon Corporation are provided in this report.
By Geography
Europe region would exhibit the highest CAGR of 22.0% during 2020-2027
Key Benefits For Stakeholders
- This study comprises analytical depiction of the global head-up display market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall head-up display market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current head-up display market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the head-up display market.
- The report includes the head-up display market share of key vendors and head-up display market trends.
Head-up Display Market Report Highlights
| Aspects | Details |
 By Type |
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 By Technology |
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 By End User |
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 By Sales Channel |
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 By Region |
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 Key Market Players | ELBIT SYSTEMS LTD., NIPPON SEIKI CO., LTD., STMICROELECTRONICS, PANASONIC CORPORATION, BAE SYSTEMS, TEXAS INSTRUMENTS INCORPORATED, ROCKWELL COLLINS, DENSO CORPORATION, VISTEON CORPORATION, CONTINENTAL AG |
Analyst Review
Over the past few years, head-up display has evolved the bulky in-console navigation units. Initially the head-up displays were introduced for the military aircrafts, but now the OEMs and aftermarket manufacturers have introduced head-up display systems for the automobile market. Currently, the use of head-up displays is considered a luxury spec reserved for high-end vehicles only. However, the rapidly developing infotainment and navigation systems have made head-up displays a flagship in most automotive designs. Hence, the head-up display market is estimated to witness a steep growth during the forecast period.
Furthermore, advancements in display technologies such as liquid crystal displays (LCD) and light-emitting diode (LED) technology have improved the design of head-up display systems. These technologies convey brighter images and are relatively inexpensive for manufacturers. Newer projection technologies based on electromechanical systems such as micromirror-based devices are anticipated to be introduced into the market, which enables brighter images with more saturated colors.
The physical size of components and technologies used in head-up displays for both windshield-based and combiner-based types are reducing, making it more feasible to engineer them into smaller vehicles. Along with shrinking sizes, the declining costs of head-up displays allows the automotive product planners to introduce head-up displays in vehicles; thereby, enhancing the safety features.
Various leading manufacturers such as BAE Systems, Continental AG, Denso Corporation, Elbit Systems Ltd., Nippon Seiki Co., Ltd., Panasonic Corporation, Rockwell Collins, STMicroelectronics, Texas Instruments Incorporated, and Visteon Corporation occupy a prominent revenue share in the head-up display market.
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