Head-up Display Market Size & Share, by Type (Conventional, Augmented Reality-Based); Technique (Projection-Based, Reflection-Based); Components (Projector, Combiner, Video Generation Computer); Application (Automotive, Aviation) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4847
  • Published Date: Apr 26, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Head-up Display Market size is anticipated to reach USD 47 Billion by the end of 2035, growing at a CAGR of 24.30% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of head-up display was over USD 3 Billion.  The growth of the market can be attributed to the radically growing number of vehicles on road worldwide as well as increasing concern about on-road passenger and vehicle safety owing to the rising number of road crashes. According to the World Health Organization data, approximately 1.3 million people lose their lives every year as a result of a road traffic crash.

In addition to these, factors that are believed to fuel the growth of head-up display market include the rise in strategic partnerships and collaboration between major key players, as well as soaring investments to develop good quality products with the spike in demand for augmented reality-based HUDs. For instance, in July 2021, Corning Incorporated announced a new product category Corning Curved Mirror Solutions, which is now a key component in a new augmented reality (AR) head-up display system by Hyundai Mobis. The Hyundai Motor Company debuted this technology in the 2021 IONIQ 5 electric crossover utility vehicle. Additionally, the growing demand for more immersive and connected driving experiences is predicted to present the potential for market expansion over the projected period.


Head-up Display Market
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Head-up Display Market: Growth Drivers and Challenges

Growth Drivers

  • Flourishing Aviation Industry - in the aviation industry, the HUD helps the pilot in the critical phases of a flight, especially while takeoff and landing. It acts as a Human-Machine-Interface that relays real-time information related to the vehicle, traffic, and associated environment for an assisted driving experience. Hence, with the augmenting aerospace industry, the demand for novel, lightweight HUDs is anticipated to propel market growth over the forecast period. For instance, recently in May 2022, BAE Systems plc revealed a new lightweight, compact Head-Up Display (HUD) which will be used in commercial and military aircraft. LiteWave is anticipated to be easily adjusted to suit any individual flying position and allows the pilot to maintain excellent situational awareness, even during poor weather or at night.
  • Growing Demand for Smart Vehicles – The rapidly surging demand for semi-autonomous as well as connected cars which come with upgraded technologies such as automotive smart displays, HUDs, voice assistance, sensors, and several other features are expected to boost the growth of the head-up display market in the upcoming years. For instance, it was observed that in 2020, ~5 million cars sold worldwide had HUD technology and this number is expected to go beyond 10 million by 2025 as major automakers quickly adopt AR technology to complement other enhanced connectivity features in automobiles.
  • Rising Road Accidents Owing to Distracted Driving - Distracted driving is one of the most dangerous behaviors on the road hampering road safety. For instance, in the United States alone every year, nearly 3,000 people lose their lives in car accidents owing to distracted driving by drivers. This accounts for approximately 9% of all fatal motor vehicle collisions on roads across of U.S.
  • Advancements in Augmented Reality Technology – For instance, recently in January 2023, Harman International, an automotive technology company and a subsidiary of Samsung Electronics Co., Ltd. focused on designing consumer experiences at automotive grade, revealed HARMAN Ready Vision. It is a set of Augmented Reality (AR) head-up display (HUD) hardware and AR software products that will enhance driver safety and awareness. Its AR software empowers the driver with critical knowledge and information, in a timely, accurate, and non-intrusive manner by integrating with vehicle sensors to deliver immersive audio and visual alerts.
  • Expanding Demand for Luxury Cars – The increasing GDP per capita of the global population as well as the rising demand for premium features in vehicles and growing sales of luxury brand cars are estimated to boost the head-up display market growth. It was found that out of total U.S. light-vehicle sales in 2021, luxury brands delivered 2.2 million vehicles, accounting for a record ~14.7%.

Challenges

  • High cost of investment – as per investigations not every model of a car has basic specifications that can implement the HUD technology. Hence, as per the current HUD technology, more development is required in this field, which requires more investments. This, as a result, is restraining the market growth. Moreover, HUD is expensive and adds up to the overall cost of the vehicle, making it non-desirable for a major class of car buyers.
  • Adherence to conventional driving
  • Space constraint in the automotive cockpit

Head-up Display Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

24.30%

Base Year Market Size (2022)

 USD 3 Billion

Forecast Year Market Size (2035)

 USD 47 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Head-up Display Segmentation

Application (Automotive, Aviation)

The head-up display market is segmented and analyzed for demand and supply by application in the automotive industry and aviation industries. Out of the two major industrial applications of head-up displays, the automotive segment is estimated to gain the largest market share of about ~64% in the year 2035. The growth of the segment can be attributed to the rapidly prospering automotive industry post-pandemic recovery with increased production of cars, trucks, and buses owing to its elevating demand worldwide. For instance, in 2021, the automotive manufacturing industry revenue was recorded at around USD 2.86 Trillion· Moreover, the demand for autonomous electric vehicles, e-bikes, and others is anticipated to boost the expansion of the segment in the upcoming years.

Technique (Projection-Based, Reflection-Based)

The global head-up display market is also segmented and analyzed for demand and supply by technique into projection-based and reflection-based. Amongst these two segments, the projection-based segment is expected to garner a significant share of around ~56% in the year 2035. The segment is projected to witness a massive CAGR during the forecast period, owing to the increasing demand for luxury cars as well as the growing use of sensors in vehicles along with the development of more advanced driving assistance systems for premium cars. Though the projection-based HUD system is expensive overall and more complicated, the final image formed through this system is very clear. Hence, this, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years.

Our in-depth analysis of the global head-up display market includes the following segments:

    By Type

  • Conventional
  • Augmented Reality-Based

    By Technique

  • Projection-Based
  • Reflection-Based

    By Components

  • Projector
  • Combiner
  • Video Generation Computer
  • Others

    By Application

  • Automotive Industry
  • Aviation Industry

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Global Head-up Display Industry - Regional Synopsis

North American Market Forecast

The share of head-up display market in North America, amongst the market in all the other regions, is projected to be the largest with a share of about ~35% by the end of 2035. The growth of the market can be attributed majorly to the presence of the biggest road networks in the countries such as the United States together with the growing number of people who drive in the region besides rising concern about the increasing number of road accidents. For instance, as per findings, the United States had more than 2 million motor vehicle accidents in 2018 leading to over 3 million injuries and more than 37,000 deaths. Moreover, the growing aviation industry as well as the increasing incidences owing to distracted driving in the region are anticipated to propel the demand for vehicles with HUD and other advanced features to eliminate such mishaps. All these factors are expected to boost market growth.

Europe Market Forecast

The European head-up display market is estimated to be the second largest, registering a share of about ~24% by the end of 2035. The growth of the market can be attributed majorly to the increasing investment in research and development in the automotive industry to imbibe the latest technologies in the vehicles along with the growing demand for premium cars besides the rising ownership of semi-autonomous and connected vehicles in the region. Additionally, the rising innovations and investment in cockpit displays for commercial and military aircraft are further expected to propel the head-up display market growth in the region.

APAC Market Statistics

Further, the head-up display market in the Asia Pacific, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth in the region is backed by the surging disposable income of the population in emerging economies such as India and China which is leading to the increasing demand for luxury cars together with the growing production of electric vehicles with updated technologies.

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Companies Dominating the Head-up Display Market

top-features-companies
    • Panasonic Holdings Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • CY Vision
    • Robert Bosch GmbH
    • Continental AG
    • Denso Corporation
    • Thales Group
    • Pioneer Group
    • BAE Systems plc
    • Nippon Seiki Co., Ltd.
    • Visteon Corporation
    • Elbit Systems Ltd.

In-the-news

In The News

  • Panasonic Automotive Systems Co., Ltd. unveiled that its large-screen WS HUD (Wind Shield Head-Up Display) was installed in a new model crossover EV, the Ariya from Nissan Motor Corporation. This is the 6th car model from Nissan to use the WS HUD of Panasonic, following the Skyline, Rogue, Qashqai, Pathfinder, and QX60.
     
  • CY Vision, a maker of holographic display technologies for AR experiences, debuted the company's latest updates to 3D AR HUD Technology automotive 3D Augmented Reality Head-Up Displays (3D AR-HUD) at CES 2023. It is the only augmented reality windshield technology on the market able to provide continuous depth and true 3D capability, 3D AR-HUD provides the widest field of view in augmented displays on the market today for all distances and weather conditions.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 4847
  • Published Date: Apr 26, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The soaring number of vehicles on road, as well as the increasing cases of road traffic crashes, together with the development of advanced features for the automotive and aerospace sector to provide immersive experiences are the major factors driving the market growth.

The market size of the head-up display is anticipated to attain a CAGR of 24.30% over the forecast period, i.e., 2023-2035.

The requirement of the high cost of investment, as well as the limited space in the automotive cockpit, are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Panasonic Holdings Corporation, CY Vision, Robert Bosch GmbH, Continental AG, Denso Corporation, Thales Group, Pioneer Group, and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, technique, components, application, and by region.

The automotive industry segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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