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DUBLIN--(BUSINESS WIRE)--Sep 16, 2022--
The HUD)+Global+Market+to+2030+-+Europe+Was+the+Largest+Market+in+2021&utm_exec=jamu273prd" rel="nofollow" shape="rect">"Head-Up Display (HUD) Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
The global head-up display market is expected to reach US$ 40.32 Bn by 2030, expanding at a CAGR of 21.9% from 2022 to 2030.
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Growing demand for avionics in military aviation and rising adoption of HUDs in civil and commercial aircraft has collectively spurred the demand for head-up displays in the aviation segment. In addition, escalating demand from automotive sector has further fueled market momentum.
Strong growth in the premium and luxury car segment has provided the much needed impetus to the market growth. Government regulations promoting vehicle safety are also expected to support the market growth in the coming years.
These factors are expected to contribute towards a compounded annual growth rate (CAGR) of 21.9% during the forecast period 2022 - 2030. Although high upfront cost and lack of awareness have collectively weighed down the market growth, the penetration of the head-up display technology is expected to gradually increase as the technology unearths applications across multiple verticals.
Europe was the largest automotive head-up display market in 2021, accounting for around one third of the global market revenue. The dominance is majorly on account of the large size of the luxury and premium car market in the region. In addition, the growth in the region is also bolstered by the presence of German auto makers such as Audi, BMW, and Mercedes Benz in the region. High technology acceptance and adoption in the U.S. has paved the way for the growth of HUD technology in North America.
However, Asia Pacific is poised to witness comparatively higher growth during the forecast period. Rising standard of living, increase in discretionary expenditure, and increase in per capita ownership of premium cars represent economic variables conducive to the future growth of automotive technologies in Asia Pacific and RoW countries.
In 2021, the aviation segment comprising both defense and commercial aviation was the largest application segment in the global head-up display market. Head-Up Displays are majorly used to raise situational alertness among flight crew/aircrew while carrying out different operations including take-off and landing.
In addition, head-up displays are also used in aircrafts for wide range of activities such as event detection and ground navigation. Greater adoption of avionics for tracking and navigation applications is expected to boost the demand for head-up displays, especially in the defense sub-division. Over the forecast period 2022 - 2030, head-up displays are poised to witness alarming adoption among automotive segment.
The advancements in technologies have resulted in the development of low-cost interactive and mobile HUDs, extending their demand beyond primary and luxury car segments. In addition, rising demand for smart and safer vehicles is expected to stimulate the demand for head up displays in the automotive segment. The incorporation of head-up displays in automotives has brought dynamism to the automotive industry and is quickly changing the way cars are manufactured, designed, and used by consumers
With the emergence of varied technologies including laser display, holographic display, volumetric display, mobile - interactive display, and pico-projector based display, the head-up display market is all set to attain potential growth in the coming years. Increased demand for avionics coupled with the growing fleet size of helicopters, airplanes, and mobile land vehicles has been instrumental in driving the demand for head-up displays in developed markets such as North America and Europe.
Although the demand for head-up displays has been majorly concentrated among developed markets, there exist robust growth opportunities for the market in emerging economies of Asia Pacific. This is primarily on account of the latent demand, especially in the automotive segment.
Key questions answered in this report
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KEYWORD: EUROPE
INDUSTRY KEYWORD: TECHNOLOGY AUDIO/VIDEO HARDWARE
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/16/2022 12:41 PM/DISC: 09/16/2022 12:41 PM
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