The global head-up display market is expected to gain traction in the next few years. The enhanced driving experience making use of the AR-based head-up displays is considered as the key factor likely to enhance the growth of the overall market in the coming few years. The key players in the market are making notable efforts to handle the fatal errors in head-up display technology. However, the convenience offered by the combination of satellite navigation technology and head-up display system are predicted to accelerate the growth of the global market throughout the forecast period.
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Rising Trend of Augmented Reality to Enhance Global Head-up Display Market
According to the market research study by Transparency Market Research, in 2014, the global market for head-up display was worth US$1.76 bn and is projected to reach a value of US$7.05 bn by the end of 2022. The market is estimated to register a healthy growth rate in the coming years.
A significant rise in the awareness regarding passenger and vehicle safety and the rise in the demand for connected vehicles are the key factors that are projected to enhance the growth of the global head-up display market in the coming years. The rising demand for technologically advanced HUDs and the augmented reality is expected to enhance the growth of the HUD market are further projected to support the growth of the global market in the next few years. On the flip side, the fatal errors in HUD display technology and the large space requirement in the automotive cockpit are projected to restrict the market growth in the coming few years. Nonetheless, the rise in the demand for semi-autonomous and electric vehicles is predicted to support the growth of the market in the near future.
Strong Growth of Automotive Sector to Drive North America Market
From a regional perspective, North America is expected to hold a major share of the global head-up display market in the next few years. This region is predicted to register a healthy growth rate in the near future, thanks to the high military modernization. In addition to this, the rapid growth of the luxury car industry is predicted to support in the expansion of the HUDs market in this region. Furthermore, Europe is estimated to remain in the second position in terms of revenue and offer lucrative opportunities for the market players in the coming years. On the other hand, Asia Pacific is predicted to register a strong growth rate in the near future, thanks to the significant rise in the demand for high-end cars, especially from developing economies.
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The global market for head-up display is competitive in nature and is expected to witness a healthy competition among the key players in the next few years. In order to enhance their market penetration, the key players are emphasizing on expansion of the product portfolio and research activities. In addition to this, the rising mergers and acquisitions and collaborations is projected to offer growth opportunities for the market players in the coming few years. Some of the key players operating in the head-up display market across the globe are Pioneer Corporation, Rockwell Collins Inc., Yazaki Corporation, Esterline Technologies Corporation, Continental AG, Johnson Controls Inc., Denso Corporation, Delphi Automotive PLC, Nippon Seiki Co. Ltd., Microvision Inc., BAE Systems plc, and Thales Group.