AR A Factor As Latest Grand View Research Report Focuses On HUD Market
Today's Forecast: Money. Lots of it.
With vision/imersive technologies, i.e. virtual reality (VR), augmented reality (AR) and mixed reality (MR) continuing to have such a focus on the tech development space it is perhaps not surprising we see so many marketing reports which relate either directly or indirectly to one or more of them. A such it shouldn’t be that much of a shock that the latest research report from San Francisco based marketing research and consultancy firm Grand View Research, Inc (GVR). lists down AR as a positive factor in market growth.
The market in question is that relating to head up displays (HUD) which GVR are reporting is expected to reach a value of $13.5 Billion (USD) by 2025. The details of which it lays down in a new report, the somewhat awkwardly titled “Head Up Display (HUD) Market Analysis By Application (Automotive, Aviation, Wearables), By Region (North America, Europe, Asia Pacific, South America, MEA), And Segment Forecasts, 2014 – 2025”.
HUDs are of course nothing new, however recent developments have seen them come back into the fold as a viable technology application fuelled in part by the continued development of AR. Car manufacturers are developing AR based HUD systems to give a ‘smarter’ look at the road ahead – light years away from the time an HUD to the automobile agency was an angled light reflecting the speed onto the inside of the windscreen. GVR specifically namechecks car giants Daimler and BMW. Whilst other industries looking to increasingly use HUDs in the years to come are the aviation sector and also include greater use by the military, a subject you may have seen covered by a number of tech media outlets in recent weeks.
This alone does not mean that head mounted displays (HMDs) will not be involved. As the summary presented by GVR through a press release does note that whilst “the automotive sector will endure to be the major contributor to the HUD market, nevertheless, the solicitation of HUDs in the wearables segment will witness the highest growth during the forecast period”.
Other key findings in the report include:
- The automotive HUD application segment dominated the market (in terms of market size) in 2015. HUD system further find solicitations in the aviation and wearables segments.
- North America dominated the global market and accounted for the largest market share (in terms of revenue) in 2015; however, Asia Pacific region is anticipated to overgrow North America in terms of revenue by the year 2025.
- The growing demand for HUD system can be attributed to the ever-growing demand for efficient and safe driving technology, across defense and civil sectors
- Further, sports and premium car segments would initially witness higher adoption of HUD systems, whereas over the forecasts the HUD incorporation would increase in basic and mid-segment car segments.
- The key industry participants include BAE Systems, Continental AG, DENSO Corporation, Elbit Systems, Visteon Corporation, Robert Bosch LLC, and YAZAKI Corporation
As always these are forecasts, not facts and should not be treated as a ‘sure thing’; however it is always interesting to see just how things are progressing and what trends are developing. You can find out more information, as well as find details as to how to licence the report in full here.
VRFocus will bring you more news on developing markets soon.