The report predicts the global Latin America Automotive Head-up Display Market to grow at a healthy CAGR over the forecast period from 2022-2031.
Market Overview:
At present, the region is going through several technological innovations in the automotive industry, During the past few years market penetration of connected car technology, demand for luxury and SUV vehicle segment and focus for advanced safety features has increased. Owing to such factors, Latin America automotive head-up display market is expected to reach $162.64 million by 2031. However, the excessive cost of the system and the emergence of alternate options are considered to be the major restraining factors for market growth. In spite of market restraint, the growing interest of foreign players in the region is expected to boost the market in the coming years.
Insights Presented in the Report:
Based on different product types, Latin America Automotive Head-Up Display market is bifurcated into Windshield HUD and Combiners HUD. Windshield HUD held the largest market share in 2017 and is expected to maintain its dominance over the forecast period (2022-2031). On the other hand, easier installation capabilities due to the compact size of combiners HUD is expected to fuel their demand, making combiners HUD the fastest growing product type during the forecast period.
Latin America HUD market is further segmented on the basis of different technologies this including Conventional and Augmented Reality. In 2017, augmented reality held the maximum share of the market and is expected to prevail during the forecast period (2022-2031). However, the rise in adoption of conventional technologies in the mid-priced and economic vehicle segment is expected to propel their demand making them the fastest growing segment during the forecast period (2022-2031).
To understand the market of different distribution channels of Latin America’s HUD industry, the market is fragmented across two channels, this includes OEMs and Aftermarket. OEMs segment dominated in 2017 with a market value of $15.46 million and is expected to remain the principal distribution channel during the forecast period.
Moreover, the market penetration of HUD is increasing across the entire vehicle segment, such as Luxury Cars, Passenger Cars, and Commercial Vehicles. Because of the largest market and high market penetration of HUD in passenger cars, this segment held the maximum share in 2017 and is anticipated to dominate over the forecast period.
For a deep dive analysis of the automotive HUD market in Latin America, the regional market is further split into several countries. Brazil, Argentina, Chile and rest of LA are among some of the most dominant markets for automotive HUD in the region. In 2017, Brazil dominated Latin America’s automotive HUD market with a market value of $12.31 million. The automotive industry in Brazil is growing extensively. Some of the major automotive companies like Ford, Honda, Volkswagen, Fiat, Chevrolet, and others see it as a prospective market to set up their units locally in the region. The government has also undertaken several initiatives to attract foreign investment in the nation to uplift the face of the auto industry. Therefore, the region provides a healthy environment for the growth of the automotive head-up display market.
Top Companies Profiled
Some of the top companies profiled in the research report include Visteon Corporation, Harman International Industries, Inc., Continental AG, TomTom NV, AUDI AG, Daimler AG, Robert Bosch GmbH, Denso Corporation, Aptiv Plc, and Yazaki Corporation
Reasons to Buy the Report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers in depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies and recent developments
- Detailed examination on drivers, restraints, key trends, and opportunities prevailing in the industry.
- Examination of industry attractiveness with the help of Porter’s Five Forces analysis
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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