Prospering Automotive Industry to Paint Strokes of Growth across Automotive Head-up Display (HUD) Market during Assessment Period of 2020-2030: TMR
- With expansive advancements in the automobile sector and the need for better information display, while driving, the global automotive head-up display (HUD) market is expected to garner promising growth
- The global automotive HUD market is anticipated to expand at a healthy CAGR of ~22 percent across the forecast period of 2020-2030
ALBANY, N.Y., Dec. 2, 2020 /PRNewswire/ --The automobile industry is prospering at a rapid rate. Barring the short-term negative impact on the growth of the automobile sector during the strict lockdown period, it is regaining rapidly. Factors such as rising disposable income of the global populace and the emergence of affordable passenger vehicles are leading to increased sales. This, in turn, influences the growth of the automotive head-up display (HUD) market to a great extent.
Head-up displays show varied information regarding speed, indicator arrows during navigation, or warning signals directly in the sight of the driver. S/he does not have to look constantly at the instrument cluster for obtaining information. This aspect makes head-up displays one of the most important components of any passenger vehicle, eventually inviting growth.
The researchers at Transparency Market Research (TMR), after a scrutinized study on varied aspects, conclude that the global automotive HUD market may expand at a robust CAGR of ~22 percent during the tenure of 2020-2030. The global automotive Head-up Display (HUD) market is expected to account for a value of US$ 4.7 bn by the end of the forecast period, that is, 2030.
The role of technology is crucial for the advancement of the automotive HUD market. Various advanced tools such as Augmented Reality (AR) and Artificial Intelligence (AI) are helping in adding a large number of features to the head-up display. This aspect will serve as a great growth factor for the automotive HUD market. Furthermore, the growing use of LEDs and LCDs is proving to be an additional feature for inviting growth.
The analysts at Transparency Market Research opine that the ongoing political tensions between two prominent revenue-generating countries, China and India may impede the growth of the automotive HUD market to a certain extent. The analysts further advise the players in the automotive Head-up Display (HUD) market to introduce both advanced and basic level HUDs to fulfill the need for premium as well as affordable passenger vehicle buyers.
Automotive HUD Market: Key Revelations
On the basis of vehicle type, the passenger vehicle segment held a large share of the automotive HUD market
In terms of technology, the conventional HUD segment acquired a lion's share of the automotive HUD market
In the context of region, Asia Pacific and Europe are prognosticated to acquire a dominant position on the back of growth contribution
Explore 364 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Automotive Head-up Display (HUD) Market (Type: Windshield HUD and Combiner HUD; Dimension Type: 2D HUD and 3D HUD; Vehicle Type: Passenger Vehicle and Commercial Vehicle; Technology: Augmented Reality HUD and Conventional HUD; and Sales Channel: OEM and Aftermarket) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030 at https://www.transparencymarketresearch.com/automotive-head-up-display-market.html
Automotive HUD Market: Growth Accelerators
Growing urbanization and the overwhelming demand for smart technologies in vehicles may bring extensive growth prospects for the automotive Head-up Display (HUD) market.
The popularity of connected vehicles across the globe may serve as prominent growth-contributing factors for the automotive HUD market
The introduction of novel projection technologies based on electromechanical systems is further anticipated to bring phenomenal growth for the automotive HUD market
Analyze global automotive head-up display (HUD) market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Automotive HUD Market: COVID-19 Impact
Key vehicle manufacturers around the world had to shut down their production units due to the strict stay-at-home orders imposed by various countries. This factor led to a decrease in vehicle production and sales. The impact of these factors directly affected the growth of the automotive HUD market negatively.
Nevertheless, to revive the economy, many countries have allowed the operation of manufacturing plants and other units. This aspect will help the automotive HUD market to gain notable growth. In addition, many people prefer private vehicles to avoid public transport because of the pandemic, thus increasing the demand for passenger vehicles. This aspect eventually impacts the automotive HUD market positively.
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