Head-up Display Market Trends

Growth Drivers

• Flourishing Aviation Industry - in the aviation industry, the HUD helps the pilot in the critical phases of a flight, especially while takeoff and landing. It acts as a Human-Machine-Interface that relays real-time information related to the vehicle, traffic, and associated environment for an assisted driving experience. Hence, with the augmenting aerospace industry, the demand for novel, lightweight HUDs is anticipated to propel market growth over the forecast period. For instance, recently in May 2022, BAE Systems plc revealed a new lightweight, compact Head-Up Display (HUD) which will be used in commercial and military aircraft. LiteWave is anticipated to be easily adjusted to suit any individual flying position and allows the pilot to maintain excellent situational awareness, even during poor weather or at night.

• Growing Demand for Smart Vehicles – The rapidly surging demand for semi-autonomous as well as connected cars which come with upgraded technologies such as automotive smart displays, HUDs, voice assistance, sensors, and several other features are expected to boost the growth of the head-up display market in the upcoming years. For instance, it was observed that in 2020, ~5 million cars sold worldwide had HUD technology and this number is expected to go beyond 10 million by 2025 as major automakers quickly adopt AR technology to complement other enhanced connectivity features in automobiles.
• Rising Road Accidents Owing to Distracted Driving - Distracted driving is one of the most dangerous behaviors on the road hampering road safety. For instance, in the United States alone every year, nearly 3,000 people lose their lives in car accidents owing to distracted driving by drivers. This accounts for approximately 9% of all fatal motor vehicle collisions on roads across of U.S.
• Advancements in Augmented Reality Technology – For instance, recently in January 2023, Harman International, an automotive technology company and a subsidiary of Samsung Electronics Co., Ltd. focused on designing consumer experiences at automotive grade, revealed HARMAN Ready Vision. It is a set of Augmented Reality (AR) head-up display (HUD) hardware and AR software products that will enhance driver safety and awareness. Its AR software empowers the driver with critical knowledge and information, in a timely, accurate, and non-intrusive manner by integrating with vehicle sensors to deliver immersive audio and visual alerts.
• Expanding Demand for Luxury Cars – The increasing GDP per capita of the global population as well as the rising demand for premium features in vehicles and growing sales of luxury brand cars are estimated to boost the head-up display market growth. It was found that out of total U.S. light-vehicle sales in 2021, luxury brands delivered 2.2 million vehicles, accounting for a record ~14.7%.

Challenges

• High cost of investment – as per investigations not every model of a car has basic specifications that can implement the HUD technology. Hence, as per the current HUD technology, more development is required in this field, which requires more investments. This, as a result, is restraining the market growth. Moreover, HUD is expensive and adds up to the overall cost of the vehicle, making it non-desirable for a major class of car buyers.
• Adherence to conventional driving
• Space constraint in the automotive cockpit