As per the report published by The Brainy Insights, the global automotive HUD market is expected to grow from USD 1.6 billion in 2021 to USD 18.17 billion by 2030, at a CAGR of 31% during the forecast period 2022-2030. Asia Pacific region emerged as the largest market for the global automotive HUD market, with a 39% share of the market revenue in 2021. The Asia Pacific currently dominates the automotive HUD market due to the rising concern regarding the safety of the passengers in the vehicles and increasing demand for premium vehicles with safety features in them.
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Automotive HUD Market Size by Technology, PC Class , Sales Channel, Dimension, Level of Autonomy, EV Type, Vehicle Type, Region, Global Industry Report, Share, Growth, Trends, and Forecast 2022 to 2030
Leading companies in the industry include Bosch, Continental, Visteon, Pioneer, Alps Alpine, Toshiba, Nippon Seiki, Yazaki, Panasonic, and Denso, among others which are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The technology type segment of automotive HUD market is divided into augmented reality HUD and conventional HUD. The conventional HUD segment dominated the market with a market share of around 72% in 2021. The HUD type segment of automotive HUD market is divided into combiner & windshield. In 2021, the windshield segment dominated the market, accounting for about 63% of global revenue. The PC class segment of automotive HUD market is divided into the economy, mid-segment, and luxury. The mid-segment PC class segment dominated the market with a market share of around 43% of global revenue in 2021. Because of the growing demand for technologically advanced vehicles with built-in safety features at an affordable price, the need for a mid-segment PC class is increasing rapidly. Also, the increasing demand for convenience and premium features in vehicles pushes manufacturers to develop mid-segment vehicles with HUD features.
According to World Health Organization, almost 1.8 million deaths happen annually because of road traffic injuries. More than 80% of these deaths occur in lower or middle countries. The rising number of vehicles and lack of proper regulation related to traffic and roads is expected to increase the number of accidents. HUDs are a way to minimize those accidents and protect people’s lives driving vehicles. HUDs can provide all the essential information regarding the road and vehicle to the driver on the windshield. This will reduce the constant readjustment of vision while driving and reading instructions.