WELLESLEY, Mass., Oct. 20, 2017 (GLOBE NEWSWIRE) — Augmented reality and its applications are prompting a paradigm shift in the market for head-up displays, which is expected to grow by 24.4% annually through 2022. Led by sales in projection units as well as computers, the worldwide market could approach $8 billion by 2022, according to an industry report by BCC Research.
Head-up displays have been widely used in the military and aerospace industries since the post-World War II era, and in the defense and avionics industries, head-up displays reached saturation levels. However, the use of head-up displays in luxury cars and airplanes has prompted a resurgence of the industry, and growth is being helped by a shift in aircraft head-up displays from LED-based projection to laser-based projection.
Growth of head-up displays in the aviation industry is projected to average 23.4% annually through 2022, when its value will top $4 billion. For the automobile industry, growth is forecast to exceed 26% annually through 2022, according to the report Head-up Displays: Technologies and Global Markets.
Leaders in the field include Alphabet, Audi, BAE, BMW, Bosch, Daimler, General Motors, Harman International Industries, Honeywell Aerospace, Panasonic, Saab Group, Toshiba and Toyota.
“Head-up displays and their application in the automotive and aviation industries is a global phenomenon,” said Kevin Fitzgerald, BCC Research editorial director. “As of now, North America is the largest regional market in automotive and aviation. However, Europe is also an important market since it has a substantial number of car, aircraft and helicopter manufacturers.”
Growth in Luxury Car Sales Spurs Expansion of Head-up Display Market
The global demand for luxury cars is increasing, with China’s luxury car market growing 40% between 2015 and 2016, while the market in India grew at 50% for the same period. Three major German auto makers—BMW, Audi, and Mercedes-Benz—account for almost 80% of the global luxury car market. The North American market for luxury cars is projected to increase by 29.1% annually through 2022, with growth in Europe projected to be 26.4% through the same period.
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About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.
Source: Nasdaq Automotive News