The qualitative research study introduced by Global Market Insights, Inc. on Automotive HUD Market Report provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the industry.
Growing luxury car sector will drive automotive HUD market, mass production of luxury passenger vehicle grew over 6% in 2016. Big luxury car manufacturers such as Audi and BMW has launched this technology in their products. Technological upgradation has progressed to the point where it is feasible, it is used in navigation as well as road marking. It is also useful in conditions like bad visibility.
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Europe automotive HUD market will witness robust growth as the region is the largest buyers of cars in the world. United Kingdom sold over 2 million cars and trucks in 2012, one of the highest figure recoded. It is home to many volume car manufacturers and commercial vehicles. More than 70% of vehicle manufactured in the region is exported to various countries for consumption. Growing demand of automobiles and exports in the region is driving growth for automotive head-up display market in Europe.
Asia Pacific automotive head-up display market, led by India and China will witness significant growth due to growing locomotive industry, increasing population and rise in disposable income that boosts demand for the product. China vehicle sales will grow over 3.5% in 2017 as tax cut reduced on small engine cars. The country hosts almost all big brands and models’ car manufacturers such as Audi, Venucia and Beijing. The product is featured by all the car brand making it most desirable feature in a vehicle.
North America automotive HUD market led by the U.S. is largest manufacturer of luxury cars. The product is optional in low budget but is mandatory in all luxury cars. It provides ease in accessibility, vision, direction and adds value, prestige in vehicle. Sales of premium luxury cars and SUV’s has witness increase of over 3%, 1% respectively in 2016. With rising technological advancement, low employment rate and high demand for luxury cars drives automotive head-up display market.
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Increasing demand of automobiles will lead to surge in automotive HUD market. GST is the factor that drives consumption in the industry. Overall reduction of tax burden on consumers has triggered investment on vehicles. This industry plays a significant role in the economy of a country and generation of revenue. Rising disposable income of consumer is a key factor that drives automobile sector and influences the product.
Based on vehicle price automotive HUD market is divided into premium, luxury and middle segment cars. Component bifurcation of the product involves projector, combiner, video, image generator and windshield. It is majorly used in automobile sector in various applications such as luxury and mid segment cars.
Such devices will further evolve as portable multimedia that will directly distract the driver. Diversion from voice, flashing text and low light efficiency can result into major car accidents that can impact demand of the product. Excessive cost of this innovative technology is another factor that hinders growth of automotive HUD market.
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Key manufacturers in automotive HUD market includes Nippon Seiki, BMW Group, Panasonic Corporation, Micro vision Inc., Visteon Corporation. General Motors Company announced key restructuring in 2017, aiming to drive tougher business performance and focus on its capital resources on corporate prospects expected to deliver higher revenues. The company will focus on export manufacturing and more focused and disciplines operations. BMW AG announced production expansion in near future. Being the most prominent luxury car manufacturer, it is heading towards expanding its production capacity to meet needs and desires of end consumers.