The global automotive heads-up display market is expected to grow at a CAGR of more than 34% during the period 2017-2021, according to a new market research study by Technavio.
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Technavio has published a new market research report on the global automotive heads-up display market 2017-2021 under their automotive library. (Graphic: Business Wire)
The report categorizes the global automotive heads-up display market by vehicle type (luxury cars and mid-segment cars) and by HUD type (windshield-projected HUDs and combiner-projected HUDs). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: economies of scale derived from the consumer electronics segment to rationalize cost structures in automotive display system space
To leverage the adoption of technology to the maximum number of customers, economies of scale play an important role in today’s market. For instance, owing to reduced prices, the adoption of smartphones across the world has increased significantly over the last 4-5 years. This price reduction was fueled by the advantage of economies of scale to smartphone manufacturers due to increased production. For OEMs, hardware cost remains a primary consideration, and by keeping a close eye on consumer electronics, OEMs can adopt new technology in a cost-effective manner. In addition, when any technology is adopted in the consumer electronics segment, its volume grows, thereby reducing its prices in the market and benefitting other segments.
According to Ganesh Subramaniam, a lead analyst at Technavio for automotive components research, “New features are introduced when there is an upgrade in products. As and when the features become widely accepted, HMI suppliers can integrate new technology into their offerings. The early versions of automotive HMIs were confusing for consumers to operate as they had different conventions when compared with consumer electronics. Due to this, OEMs developed interfaces that were easy to operate which further reduced the complexity and price of the system.”
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Market trend: AR HUDs to rejuvenate display space
Augmented Reality is an emerging technology that enables the overlap of computer graphics in the real world. AR HUDs ensure a comfortable and safe driving experience by displaying a virtual image precisely into the exterior view. AR HUDs combines the real scene viewed by end-users and an augmented, computer-generated, virtual scene with additional information to generate a comprehensive view for the driver. AR HUDs enhances driver assistance systems such as blind spot detection, upcoming lane change, and exit directions by allowing a wide field of view. Many HUD vendors are developing advanced AR HUDs due to the high growth potential of AR HUDs.
Market challenge: high cost of HUDs
HUDs are yet to be widely accepted as they are still in the developing stage. Luxury cars are the primary users of HUDs. Also, the number of manufacturers entering the HUD market is less due to the high cost of production. This has led to the high ASP of HUDs in the automotive sector, which is a critical factor as this cost is passed onto end-consumers. Automotive OEMs operate at a low profit margin and are constantly trying to reduce the cost involved. Premium and luxury cars initially embraced HUDs, owing to their high cost.
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Key vendors in the market
- Bosch
- Continental
- DENSO
- Nippon Seiki
- Visteon
With the presence of several HUD manufacturers, the global automotive HUD market is highly competitive. Vendors are investing in R&D to develop HUDs and are incorporating advanced technologies to penetrate the market segments that have not been tapped yet. Initially, displaying basic information to the driver such as speed and warning signals was incorporated in the automotive HUD. Driving experience has become a whole lot safer and comfortable due to the latest advances in technologies such as AR-HUDs, which is expected to further drive the market.
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