Global Automotive Head Up Display Market to Generate $10,382.1 Million by 2031, Owing to Increase in the Demand for Vehicles with Advanced Safety Features

An automotive head up display is a transparent display system which provides important information such as car speed, fuel level, navigation indicators, etc., on the car’s windshield itself. Some automobiles use automotive head up displays wherein the information is displayed on a combiner, which can be retractable or non-retractable. The basic purpose of head up display is to provide the driver with all the relevant information at one place without distracting his/her attention.

Forecast Analysis of the Market

In recent years, there has been a steady growth in demand for vehicles with advanced safety features. This surge in demand is predicted to be the primary growth driver for the automotive head up display market in the forecast period. Additionally, increasing awareness about road safety among drivers is anticipated to push the market forward. Along with this, development of augmented reality head up displays is projected to offer numerous growth and investment opportunities to the market in the analysis timeframe. However, the high cost of head up displays is estimated to create hurdles in the full-fledged growth of the automotive head up display market in the coming period.

Regionally, the automotive head up display market in the Europe region is expected to be highly dominant by 2031. The surge in demand for high-end cars due to the rising disposable income of people in this region is expected to be the leading factor behind the growth of the market in the forecast period.

According to the report published by Research Dive, the global automotive head up display market is expected to gather a revenue of $10,382.1 million by 2031 and grow at 26.7% CAGR in the 2022–2031 timeframe. Some prominent market players include Continental, Nippon Seiki Co., Ltd., Bosch, 3M, Denso, UniMax, Valeo, Visteon Corporation, FIC Group, Hudway, and many others.

Covid-19 Impact on the Market

The outbreak of the Covid-19 pandemic has had a massive negative effect on almost all industries and businesses across the world. The automotive head up display market, too, faced a negative impact of the pandemic. The lockdowns resulted in a massive decline in automobile manufacturing which reduced the demand for automotive head up display systems. This reduction in demand from the automotive sector brought down the growth rate of the market.

Significant Market Developments

The significant companies operating in the industry are adopting numerous growth strategies & business tactics, such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, thus helping the automotive head up display market to flourish. For instance:

• In December 2021, Karma Automotive, a luxury electric vehicles manufacturer, announced that it was collaborating with WayRay, a holographic AR technology developer, for designing and developing advanced augmented reality-based head up display systems for new Karma vehicles. This collaboration is expected to help both the partners to expand their market share in the near future.
   
• In January 2021, Panasonic Automotive, a leading automotive OEM company, unveiled its Augmented Reality (AR) head up display. This product launch is predicted to help the company to cater to the demands of the automobile manufacturing industry in a much better way and increase its footprint in the market.
   
• In February 2022, Harman, a leading connected car technology provider, announced the acquisition of Apostera, a German augmented reality and mixed reality head up display software developer. This acquisition is expected to help the acquiring company to expand its market share in the coming period.