Global Automotive HUD Market Report, published by Variant Market Research, forecast that the global market is expected to reach $2,786 million by 2024 from $527 million in 2016; growing at a CAGR of 23.1% from 2016 to 2024. By geography, Asia Pacific and Rest of the World (RoW) are expected to grow at a CAGR of 24.1% and 23.3%, respectively, during the forecast period.
Increasing awareness about head-up display (HUD) devices, rising disposable income in developed and developing countries, high demand for mid-sized care and premium cars are the major factors driving the growth in the automotive head-up display market. Moreover, product innovations, entry of new players, and mergers & acquisitions by various companies are also expected to elevate the growth of automotive head-up display market.
By product type, windshield holds the majority of share with 69.6% in 2016. Windshield HUD is estimated to reach $1.904 million by 2024 from $367 million in 2016. Combine HUD is expected to grow at the highest CAGR of 23.8% between 2016 and 2024. By applications, premium cars and sport cars accounted for the market share of 45.6% and 27.3% respectively in 2016.
Asia-Pacific is the fastest growing region in the global automotive head-up display market growing at a CAGR of 24.1% during forecast period, and is expected to continue this trend owing to increasing demand for cars from countries like India and China, and rising disposable income in developing countries. North America accounts the largest share of the market holding 34% followed by Europe with 30.8%.
The key players in the automotive head-up display market are Panasonic Corporation, Nippon Seiki, Delphi Automotive, Continental AG, Denso Corporation, Microvision Inc., Yazaki Corporation, Visteon Corporation, Pioneer Corporation and Thales Group among others.