Market Size of Automotive Head-up Display Industry
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| CAGR | 24.00 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Head-up Display (HUD) Market Analysis
The Automotive head-up display (HUD) market registered about USD 1.27 billion in 2021 and is expected to reach over USD 4.56 billion in 2027 registering a CAGR of around 24% during the forecast period (2022-2027).
The COVID-19 pandemic had a negative impact on the market during 2020 due to a halt in manufacturing activities and supply chain disruptions due to restrictions imposed by governments worldwide. However, post-pandemic as economic activities restored the demand started gaining momentum owing to notable growth in production and sales of vehicles across major countries like the United states, China, India, and others.
The demand for high-end luxury and mid-size cars with advanced safety features including head-up displays coupled with significant growth in the use of smart phones and navigation systems is anticipated to enhance demand in the market. Further, the introduction of stringent government regulations regarding safety, continuous reduction in the price of head-up displays, advancement in technology, and organic growth in automobile production to further boost growth of market during the forecast period.
Automobile manufacturers and HUD market players are working towards improving the present head up display system. Present HUDs are equipped with geological positioning system (GPS), can display warning and error messages on the windshield. Implementation of strict safety regulations by government coupled with increasing sales of luxury cars, the adoption of HUD in the luxury vehicles is on the rise as a part of driver and passenger safety system to offer lucrative opportunities for players in the market.
North American region expected to dominate the market studied during the forecast period followed by Europe and Asia-Pacific region. Increased consumer spending on luxury cars and growing emphasis on safety expected to support growth of automotive HUDs in these regions.
