The head-up display market is estimated to grow from USD 1.3 billion in 2018 to USD 4.7 billion by 2023, growing at a CAGR of 29.9% during the forecast period. The factors such as increase in awareness about passenger and vehicle safety; convenience offered by combination of satellite navigation technology and head-up display system; increase in demand for connected vehicles and technologically advanced HUDs drive the demand for head-up displays.

Head-Up Display for Display units will grow at highest CAGR during the forecast period

Head-Up display for display unit is an important component of a HUD as it is used to process an image to display on the windshield of the vehicle. It includes combiner as well as windshield display panels. Some of the major technologies used to manufacture display panels for HUD are Digital Micromirror Device (DMD), Liquid Crystal Display (LCD), and Liquid Crystal on Silicon (LCoS) technologies. The LCoS is further segmented into Nematics LCoS (NLCoS) and Ferroelectric LCoS (FLCoS). The use of different display technologies in HUD will depend on the applications that is to be deployed in.

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Conventional HUDs will dominate the Head-Up Display Market during the forecast period

Conventional head-up display were initially developed for aviation and military applications; however, they are increasingly being used in automotive applications. Conventional HUDs are further segmented into combiner HUDs and windshield HUDs. Increasing adoption of the conventional head-up display technology by OEMs, reducing installation prices of head-up display systems, and increasing importance given to vehicle and passenger safety systems will be the factors responsible for the growth of this market. Conventional HUDs will dominate the HUD market as compared to the AR HUDs as the latter are yet in the nascent stage of their growth.

Automotive application of Head-Up Display Market will grow at faster rate during the forecast period

Conventional HUDs are used in cars as a secondary display unit to provide information on navigation routes, vehicle speed, fuel indication, lane-departure warning, and traffic information to the driver. HUDs with improved benefits such as monochrome, 4-color display, night vision, high-contrast, and color-rich virtual image are driving the demand from the automotive segment. Voice control and gesture recognition are the latest trends in head-up displays in automotive application. This will help drive the automotive application market of HUDs during the forecast period.

Europe is expected to be the largest Head-Up Display Market by 2023

Europe is considered as the prominent luxury/premium car manufacturer. The major high-end car OEMs, such as Audi AG (Germany), BMW AG (Germany), Mercedes-Benz (Germany), Bentley Motors Ltd (UK), Maserati (Italy), Skoda Auto (Malda), Ferrari s.p.a (Italy), and Bugatti Automobiles S.A.S (France), have their headquarters in Europe. As HUD is a major safety feature, most luxury/premium segment car manufacturers install HUD in their car models that are manufactured in Europe. Increasing demand for luxury or premium cars and SUVs equipped with head-up display systems is expected to drive the HUD market in Europe.

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Some of the major players in the head-up display market are Nippon Seiki (Japan), Continental (Germany), Visteon (US), DENSO (Japan), BAE Systems (UK), Pioneer Corporation (Japan), MicroVision (US), Thales (France), Garmin (Switzerland), and Panasonic (Japan)

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