Driven by the increasing intent of car buyers to look for innovative automobile safety features and technologies, the Global Head-up Display Market size is expected to reach $5.9 billion by 2027.
According to the latest report by Research and Markets, the Global Head-up Display Market is expected to grow at a CAGR of 19.2% till 2027.
A projection system that displays a brightly lighted video or image onto a clear surface is known as a head-up display. The primary purpose of a head-up display is to reduce the requirement for drivers to shift their sight from the road to the entertainment panel. These displays project information like turn-by-turn navigation, current speed, posted traffic signs, and blind-spot alerts directly into the field of view of the drivers or pilots, allowing them to keep their gaze forward, where danger lurks. Head-up displays were developed for defence and military aircraft, but in recent years, their use in several high-end vehicles has gained popularity.
When it comes to purchasing a vehicle, today's car buyers are increasingly considering innovative automobile safety features and technologies. For example, monitoring numerous in-vehicle displays might cause the driver to become distracted, resulting in dangerous road circumstances. A HUD, which is enabled by both passive and active systems, lowers driver distraction and increases driving safety. Additionally, ongoing technical advancements have resulted in the emergence of mobile and interactive HUDs, propelling the overall market growth.
In the near future, augmented reality head-up displays will aid in making driving safer and more comfortable. As part of the shared, autonomous future, Jaguar Land Rover stated in August 2019 that it is designing next-generation HUD technology that may beam real-time safety warnings in front of the driver and enable passengers to broadcast 3D movies directly from their seats.
Moreover, in several developed economies, government regulations progressively support automotive advances and technologies that assist vehicle and road safety. For example, automated Cars 3.0, the latest federal advice for automated vehicles, was released in October 2018 by the United States Department of Transportation (USDOT). The USDOT's commitment to promoting the safe incorporation of automation with the overall transportation system was reaffirmed in AV 3.0, the report said.
Driverless Vehicles
According to Research and Markets, the rising automotive manufacturing and developments such as linked vehicles and driverless vehicles are expected to increase HUD adoption and demand throughout the forecast period. HUDs are commonly employed in military and commercial aircraft because they assist pilots and reduce the risk of colliding with the landscape. The market's growth is predicted to be aided by rising military spending and the increasing deployment of HUDs in civil aircraft.
Additionally, an increase in air passenger traffic is expected to lead to an extension of the worldwide aircraft fleet, which will increase demand for HUDs in the civil aviation industry in the future years. According to estimates issued by the International Civil Aviation Organization (ICAO), air transportation handled 4.3 billion passengers on scheduled trips in 2018. This represents a 6.1% increase over 2017. The number of people leaving the country increased to almost 38 million.
COVID-19 Influence
The COVID-19 outbreak caused a significant downfall to various economies worldwide. The outbreak of the novel coronavirus slowed down numerous businesses globally. In addition, due to the rapid spread of the infection, governments were forced to impose countrywide lockdowns. Due to the travel restrictions under the lockdown, the supply chain of various goods and intermediate goods was significantly disrupted, the report said.
Moreover, the lockdown also caused a considerable hindrance to various manufacturing facilities worldwide. Due to this, the world economy was majorly disrupted. The COVID-19 pandemic had a significant impact on the growth of the head-up display market. The distribution of components used in the manufacturing of head-up displays was disrupted, with most research and development efforts and new product releases connected to head-up displays being delayed or cancelled due to the pandemic.
Driving Factors
Vehicle buyers emphasise the safety of vehicles and passengers. Regulatory agencies all over the world are working to improve car safety. According to a global status report on road safety released in 2019, more than 1.35 million people die every year due to traffic accidents on roads around the world. According to studies, road traffic causalities can become the world's fifth-biggest cause of death by 2030. One of the leading causes of these collisions is driver distraction. Drivers' vision must acclimatise to a vast visual distance on the road after reading the instrument clusters. After reading the standard instrument clusters, the eyes must focus on the road. Drivers' eyes become tired and lose attention due to the frequent shifts in focus. In this context, head-up displays provide vital information in drivers' line of sight, such as navigation and vehicle speed, reducing driver distraction.
EVs, Semi-autonomous Vehicles
There has been a considerable surge in global demand for electric and semi-autonomous automobiles in recent years. The growing popularity of these vehicles is driving the demand for head-up displays. Semi-autonomous vehicles can detect their surroundings and travel to their destination with minimal human intervention. Voice instructions can be used to control this type of vehicle. The primary purpose of these vehicles is to improve driving safety and convenience. Front collision avoidance, park assistance, and adaptive cruise control are among the advanced features available in semi-autonomous vehicles. The head-up displays used in semi-autonomous vehicles offer these features on the windshield in the driver's line of sight, reported Research and Markets.
Restraining Factor
By visually displaying concurrent traffic conditions for drivers, advanced head-up displays, like AR-based head-up displays, make driving extremely comfortable and safe. Head-up displays that are mounted on the windshield of the vehicle, on the other hand, take up much room in car cockpits. Due to the significant space occupied by AR-based head-up displays on automobile dashboards, several efforts are underway to re-design automotive cockpits. Any reduction in the size of AR-based head-up displays can lower the sharpness of augmented images and make them less legible for drivers. In addition, iris recognition and gesture control systems must be placed in vehicles with head-up displays to ensure that projections are accurate in the visual field of drivers.
Courtesy: Research and Markets. Photo is representational; courtesy: Continental.