Automotive HUD Market worth $2.2 billion by 2028

The global automotive HUD market size is projected to grow from USD 1.0 billion in 2023 to USD 2.2 billion by 2028, at a CAGR of 16.6%. Increasing awareness about passenger and vehicle safety, paired with steady growth in luxury and high-end car segments, mainly in emerging markets are anticipated to increase the demand for automotive HUD solutions all over the world. Moreover, increasing penetration of electric vehicles in conjunction with growing demand for semi-autonomous vehicles are also expected to create lucrative opportunities for the automotive HUD market in the coming years globally.

The study involved four major activities to estimate the current size of the automotive HUD market. Exhaustive secondary research was done to collect information on the market, the peer market, and model mapping. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The bottom-up and top-down approaches were employed to estimate the total market size. After that, market breakdown and data triangulation were used for determining the market size of segments and subsegments.

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Automotive HUD Market Dynamics:

Driver: Steady growth in demand for luxury and high-end segment cars, mainly in emerging markets

The steady growth in demand for luxury vehicles is anticipated to support the revenue growth of the automotive HUD market during the forecast period. Luxury vehicles have been early adopters of automotive HUD technology. Automotive manufacturers of luxury vehicles have recognized the value of HUDs in providing an enhanced driving experience and have incorporated them into their high-end models. For instance, models such as Audi Q4 e-tron, BMW iX, BMW iX3 (RR), and Mercedes-Benz EQE are equipped with automotive HUDs. Additionally, luxury vehicles often serve as platforms for introducing cutting-edge technologies and features. As a result, automotive HUDs in luxury vehicles have witnessed continuous technological advancements. These advancements include improved display quality, augmented reality features, wider viewing angles, and integration with other advanced systems like night vision and adaptive cruise control. All these aforementioned parameters are expected to support the growth of the automotive HUD market.

Opportunity: Increasing demand for semi-autonomous vehicles

The increasing inclination towards semi-autonomous and autonomous vehicles is likely to increase the demand for automotive HUDs. As self-driving technology advances, there is a need to ensure that drivers remain engaged and vigilant in case manual control is required. Automotive HUDs can serve as a vital interface between the vehicle and the driver, displaying critical information about the status of the autonomous system, potential handover requests, or system failures. Thus, integration of HUD technology can contribute to the safe deployment and operation of autonomous vehicles, further boosting the demand for HUDs. All these aforementioned parameters are expected to augment revenue for the automotive HUD market during the forecast period.

BEV segment is expected to have largest share in the global automotive HUD market

The BEV segment is estimated to dominate the automotive HUD market based on electric vehicle type. Increasing sales of BEVs in China, the US, and European countries are driving the BEVs segment. Additionally, BEV manufacturers are increasingly adopting HUDs as a safety and convenience feature. For instance, the 2022 NIO ET7, NIO ES6, and NIO ES8, electric car models by NIO in China, have HUDs installed in them. As per industry experts, most of the BEV OEMs have started adopting HUD technology in their respective models. As such, the penetration rate of automotive HUDs in BEVs is increasing, which will, in turn, drive the BEV automotive HUD market during the forecast period.

3D HUD segment is expected to have significant growth opportunities in global automotive HUD market

The 3D HUD segment is anticipated to have significant growth opportunities during the forecast period. 3D HUD can easily integrate AR elements, which, in turn, creates a more immersive driving experience for the customers. AR features can include dynamic navigation overlays and virtual lane guidance and highlight potential hazards on the road, providing a comprehensive understanding of the driving environment. Several automotive HUD suppliers are focusing on augmented reality (AR) technology. Considering these parameters, the market for 3D HUDs is likely to witness significant growth in the near future.

“The Asia pacific automotive HUD market is projected to hold the largest share by 2028.”

Asia Pacific is estimated to be the largest market for automotive HUDs by 2028. In this region, countries such as China, Japan, and South Korea are expected to take the lead in autonomous driving technology in the coming years. Leading automobile manufacturers in this region, such as Toyota, Honda, and Hyundai, have leveraged the advantages of safety systems and made essential safety features a standard across their models. China is expected to be the most influential factor in the Asia Pacific automotive HUD market in terms of value & volume. The large market share of China can also be attributed to the increasing sales of vehicles equipped with HUD technology. For example, Changan Raeton PLUS, Changan CS75, and Haval H6 are some of the models in China equipped with automotive HUDs.

Key Market Players

The global automotive HUD market is dominated by major players such as Nippon Seiki Co. Ltd. (Japan), Continental AG (Germany), DENSO Corporation (Japan), Panasonic Holdings Corporation (Japan), Foryou Corporation (China), Yazaki Corporation (Japan), and Valeo (France), and among others.

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