MarketsandMarkets has recently released a report namel, ‘Automotive Head-up Display (HUD) Market by HUD type (Windshield & Combiner), Application (Premium, Luxury & Mid Segment Cars) and by Geography (Asia-Oceania, Europe, North America & RoW) - Industry Trends and Forecast to 2021'. According to this report, the global market is projected to grow at a CAGR of 21.67 percent, to reach a market size of US$ 1.33 Billion by 2021. The base year for the study is 2015, and the forecast period is 2016 to 2021.
The demand for premium and luxury passenger cars is set to grow at a high rate during the forecast period, particularly in emerging economies. For instance, despite the restrictive 2016 budget in India, the market size is projected to reach twice the current volume by 2020. German auto brands such as Mercedes-Benz, BMW and Audi are expected to dominate the Indian luxury car market.
As per the report, the North American and European regions impose stringent emission and safety regulations. Various automakers are incorporating active and passive safety systems to comply with these norms and to reduce the possibility of accidents. Safety features in a car currently drive consumer buying behaviour around the world. The head up display decreases distraction while driving, and therefore acts as an important safety feature. Thus, growing safety awareness will likely spur the demand for automotive head up displays.
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