Automotive HUD Global Market Report 2023: Growing Demand for Connected Vehicles Boosts $3 Billion Industry

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Dublin, April 12, 2023 (GLOBE NEWSWIRE) -- The "Automotive HUD Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global automotive HUD market grew from $1.07 billion in 2022 to $1.33 billion in 2023 at a compound annual growth rate (CAGR) of 24.4%. The automotive HUD market is expected to grow to $3.01 billion in 2027 at a CAGR of 22.6%.

The automotive HUD market research report is one of a series of new reports that provides automotive HUD market statistics, including automotive HUD industry global market size, regional shares, competitors with an automotive HUD market share, detailed automotive HUD market segments, market trends and opportunities, and any further data you may need to thrive in the automotive HUD industry. This automotive HUD market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The growing demand for connected vehicles is driving the growth of the automotive HUD market. The rising interest and demand for connected vehicles can be attributed to increase in customer preference towards comfort, connectivity, performance, and safety features during their new car purchases. Connected car vehicles are outfitted with many promising technologies, including radar, lidar, cameras, and other sensors to provide safe and convenient travel.

Due to these native embedded system technologies, these vehicles can communicate with other vehicular nodes, exchange safety data, receive system updates, and stream infotainment. According to a McKinsey 2020 survey with more than 40 industry experts in the autonomous vehicle (AV) ecosystem, 60% of respondents would switch car brands to improve connectivity.

Furthermore, 39% of consumers wanted to unlock additional digital features after purchasing a vehicle. Therefore, increasing demand for connected vehicles is expected to boost demand for automotive HUD solutions during the forecast period.

Technological advancements are a key trend gaining popularity in the automotive HUD market. Major companies operating in the automotive HUD market are focused on providing technologically-advanced solutions to meet end customer demand and strengthen their market position.

These companies are developing next-generation automotive HUD technologies into their frameworks, such as augmented reality, virtual reality, sensors, artificial intelligence, Internet of things, machine learning, 3D mapping, automation, projection techniques, and others to simplify the driving condition by enabling security functionalities.

In February 2022, Harman International, a wholly-owned subsidiary of Samsung Electronics, acquired Apostera for an undisclosed amount. With this acquisition, HARMAN International wants to broaden companies' presence in automotive AR/MR experience design and further extend automotive product offerings. Apostera is a Germany-based automotive technology company, which offers solutions ranging from ADAS, Lidar, and autonomous augmented reality.

Asia-Pacific was the largest region in the automotive HUD market in 2022 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive HUD market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the automotive HUD market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

Scope
Markets Covered:

1) By HUD Type: Windshield; Combiner
2) By Technology: Conventional HUD; Augmented Reality HUD
3) By Dimension: 2D; 3D
4) By Fuel Type: Battery Electric Vehicle (BEV); Internal Combustion Engines (ICE); Hybrid

Key Attributes:

Report AttributeDetails
No. of Pages200
Forecast Period2023 - 2027
Estimated Market Value (USD) in 2023$1.33 billion
Forecasted Market Value (USD) by 2027$3.01 billion
Compound Annual Growth Rate22.7%
Regions CoveredGlobal

Key Topics Covered:

1. Executive Summary

2. Automotive HUD Market Characteristics

3. Automotive HUD Market Trends And Strategies

4. Automotive HUD Market - Macro Economic Scenario

5. Automotive HUD Market Size And Growth

6. Automotive HUD Market Segmentation

7. Automotive HUD Market Regional And Country Analysis

A selection of companies mentioned in this report includes

  • Robert Bosch
  • Continental
  • Denso
  • Visteon
  • Nippon Seiki

For more information about this report visit https://www.researchandmarkets.com/r/gjhjek

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Attachment

 
Global Automotive Hud Market

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