The demand for head-up displays in the United Kingdom is anticipated to grow at a CAGR of 17.3% during the course of the study, according to the report.
The head-up display market is predicted to be worth US$ 8.6 billion in 2023, rising to US$ 46.0 billion by 2033. During the projection period, sales of head-up displays are expected to expand at a substantial CAGR of 18.3%.
The market is primarily driven by expanding global automotive sales. Increasing customer demand for luxury and premium automobiles with cutting-edge display and safety features, such as HUD systems, is further fueling market growth. Several manufacturers are implementing various driver aid elements, such as augmented reality (AR) and more graphics space, to give a safer driving experience and thereby enhance product demand.
Furthermore, a number of manufacturers are incorporating HUDs into mid-range vehicle models in order to cater to middle-class and lower-income consumers, which is expected to enhance the market. Increased urbanisation, rising consumer spending power, and a number of technological breakthroughs, such as the adoption of liquid crystal displays (LCD) and light-emitting diodes, are all impacting the global heads-up display market’s expansion (LED).
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Key Takeaways from the Head-Up Display Market
Competitive Landscape
Leading companies in the worldwide head-up display market are concentrating on research and development to incorporate connective technologies like augmented reality and artificial intelligence (AI) (AR). Players want to diversify their product portfolios with this. In order to obtain a competitive edge in the market, firms are also engaging in mergers, acquisitions, and collaborations.
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Head-Up Display Market by Category
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 06, 2023