A Summer Internship Project Report on

“Automotive Heads-Up Display Market – Detailed Market Report”

Submitted in partial fulfilment of the requirements for the degree of

Master of Business Administration (Marketing)

(Affiliated to Savitribai Phule Pune University)
By
Tejas Dnyaneshwar Husukale
Roll No: MKT A-51
Under the guidance of
Dr. Dipanjay Bhalerao
A Study Conducted for
VERIFIED MARKET RESEARCH

Submitted To
Shree Chanakya Education Society’s
Indira Institute of Management, Pune

Academic Year
2019-21

Affiliated To
An Autonomous Institute affiliated to

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Certificate of Completion (By Organization)

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 Certificate of completion (by College)

This is to certify that Mr. Tejas D. Husukale is a Bonafede student of Indira Institute of Management,
Pune and has successfully completed his project entitled “Automotive Heads-Up Display Market – Detailed
Market Report” for partial fulfilment of the course Master of Business Administration [Marketing (Major)
& Operation and Supply Chain Management (Minor)] at Indira Institute of Management, Pune affiliated
to Savitribai Phule Pune University.

Dr. Pandit Mali Dr. Dipanjay Bhalerao

Director, IIMP Internal Project Guide

Indira Institute of Management, Pune Indira Institute of Management, Pune

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 Student’s Declaration

I undersigned Tejas D. Husukale a student of Indira Institute of Management, Pune s MBA 3rd semester,
declare that summer internship project titled “Automotive Heads-Up Display Market – Detailed Market
Report” is a result of my own work and my indebtedness to other work publications, references, if any,
have been duly acknowledged. If I are found guilty of copying any other report or published information
and showing as my/our original work, I understand that I shall be liable and punishable by Institute or
University, which may include ‘Fail’ in examination, ‘Repeat study &re- submission of the report’ or any
other punishment that Institute or University may decide.

Name of Student: Tejas D. Husukale

Enrolment Number: Marketing A-51
Signature:

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 Acknowledgement

I would like to heartily thank Verified Market Research for giving me this opportunity to display my
skills and learn extensively about the corporate world. It was an extremely rewarding experience for me
both in terms of skills acquired and work attitudes imbibed in my first exposure to the corporate world.

With deep gratitude and humble heart, I would like to thank my company mentor Miss. Dipti Prabha
Sahoo for providing me this opportunity and in giving basic shape to this project without her help this
project would not have materialized. I am extremely grateful to Mr. Amaan Kazi, founder/owner of
Verified Market Research for his kind help and support and his valuable guidance throughout my project.
Despite having a very busy schedule, he made sure in every way that I acquire the best possible exposure
and knowledge during our project.

I express my sincere thanks to Dr. Dipanjay Bhalerao, Assistant Professor, Indira Institute of
Management for his unconditional support and seamless professional approach in guiding me through the
details of the project. I thank him for mentoring me during the tenure of the project.

I would extend my gratitude towards the Director Dr. Pandit Mali and Deputy Director Dr. Pallavi
Sajanapawar for their invaluable suggestions and support provided during the course of the project.

I am extremely thankful for all those people who have helped me in completion of this project.

Tejas D. Husukale

MBA-Marketing

Indira Institute of Management, Pune

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Executive Summary
Title of the project: Automotive Heads-Up Display Market – Detailed Market Report
Organization: Verified Market Research

Importance of the Project

Verified Market Research aims to provide detailed market report to their clients in 14 different verticals.
As title indicates, the reports cover entire automotive heads-up display market at global level. The
automotive industry is a major industrial and economic force worldwide. The automotive industry is
important to global economic development. The report comprises of market overview which comprises of
drivers, restraints, and opportunities followed by segmentation covering all the detailed subsegments, and
company profiling stating details of top 10 companies in automotive sector to highlight global scenario of
stated title. It also gives the forecast up to year 2027 with compound annual growth rate (CAGR) value.

Objectives of the Project

1. Study Market Research Procedures and Techniques.

2. To study the drivers and restraints of market and its impact on global business.

3. To find extensive company profiles comprising of company overview, company insights, product
benchmarking and SWOT analysis for the major market players

4. To analyse geography highlighting the consumption of the product/service in the region along with
growth opportunities

5. To study the technological advancement and current trends in global market.

6. To publish detailed market report of the stated title.

Methodology Adopted
The entire report is made by secondary research methodology. Secondary research or desk research is a
research method that involves using already existing data. Existing data is summarized and collated to
increase the overall effectiveness of research. These documents can be made available by public libraries,
websites, data obtained from already filled in surveys, etc.
During two months internship, the data was collected from competitor’s websites and already published
market reports. To have detailed analysis the information was taken from various published research papers
and journals. Some reports were specifically made on particular countries i.e. Global markets based reports;
for these certain assumptions were made by studying, and analysing global market of particular country.
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The listed websites were majorly referred to sort information from journals and research papers.
https://www.researchgate.net/https://www.ieee.org/
https://www.tandfonline.com/https://journals.sagepub.com/
https://link.springer.com/https://www.academia.edu/
https://www.sciencedirect.com/https://www.e-sciencecentral.org/index.php

Learning from the Project

1. Understood how to analyze competitor’s websites.

2. Preparing report description and elaborated report description.

3. Understanding international markets, segmentations, geographies, and company profiling.

4. SWOT analysis, Product benchmarking, Pestel Analysis.

5. Preparing complete detailed market report with marketing tools and techniques.

Utility to the Organization

1. I worked as research associate intern post for preparing the report description, elaborated report
description and industry reports, by collecting market related data through various competitor’s
websites, authenticate and trusted sources.

2. Analysis of data for making report description using growth driver, restraints, challenges, SWOT
analysis, technological developments and analyzing current trends.

3. Converted complex data into understandable tables, graphs and written reports for the better
understanding of the data.

4. The scope my internship includes my contribution I have made towards my two months tenure. In the
span of two months I have contributed by making 100+ Report Description, 80+ Elaborated Report
Description and one Detailed Market Report. On an average I have helped organization to generate a
value of 1 Cr. 30 Lakh.

Findings

1. The Global Automotive HUD Market was valued at USD 1.07 Billion in 2019 and is projected to reach
USD 6.34 Billion by 2027, growing at a CAGR of 24.96 % from 2020 to 2027.

2. Conventional HUD segment is estimated to account for the largest market size during the forecast

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 period.

3. Windshield HUD type segment is estimated to account for the largest market size during the forecast
period.

4. Asia Pacific and Europe are estimated to be the largest market with the highest share of the global
automotive HUD market, by value. The regional market is dominated by the demand from Germany
and the UK.

5. Drivers, Restraints and Opportunity.

Conclusion
The market research is never ending arena. Daily new keywords get emerge and the process is continuing.
Verified Market Research operates in 14 different verticals. Verified Market Research (VMR) provides
reports with a 360-degree perspective on a wide variety of industries. VMR market intelligence
encompasses the latest trends & strategies and is highly inclined towards identifying business opportunities
for clients, helping them strengthen their positions in their respective verticals. The study of various market
is showing market growth is directly proportional to the rising demand of enhanced technologies and ease
of operations. The market size of the several products and services is driven by the growing demand of
customers for using the self-service methods such as getting product information, for purchasing the
products and experiencing the new and technically technically-advanced services.

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Table of Contents
CHAPTER I: INTRODUCTION AND RATIONALE OF THE STUDY ..................................................12

1.1 Introduction to The Title ....................................................................................................................13

CHAPTER II: INDUSTRY/ SECTOR PROFILE ......................................................................................14

2.1 Overview of The Industry/ Sector .....................................................................................................15

2.2 Contribution of the sector towards GDP ...........................................................................................15
2.3 Major Players .....................................................................................................................................16
CHAPTER III: COMPANY OVERVIEW ..................................................................................................17

3.1 History ...............................................................................................................................................18

3.2 Mission ..............................................................................................................................................18
3.3 Vision .................................................................................................................................................18
3.4 Management ......................................................................................................................................19
3.5 Composition of Board........................................................................................................................19
3.6 Registered Address/ Number of Branches .........................................................................................20
3.7 Major Customers ...............................................................................................................................20
3.8 Financial Performance .......................................................................................................................20
3.9 Achievements ....................................................................................................................................21
3.10 Products ...........................................................................................................................................21
CHAPTERIV: REVIEW OF LITERATURE .............................................................................................23

CHAPTER V: APPLICATION OF MANAGEMENT FRAMEWORK ...................................................28

5.1 Swot Analysis ....................................................................................................................................29

5.2 Marketing Mix ...................................................................................................................................30
CHAPTER VI: OBJECTIVES AND SCOPE OF PROJECT .....................................................................33

6.1 Objectives ..........................................................................................................................................34

6.2 Scope of Project .................................................................................................................................34
CHAPTER VII: RESEARCH METHODOLOGY ....................................................................................35

7.1 Rational for the Study ........................................................................................................................36

7.2 Statement of Problem ........................................................................................................................36
7.3 Research Objectives...........................................................................................................................36
7.4 Research Design ................................................................................................................................36
7.5 Data Sources ......................................................................................................................................36
7.6 Limitations of the Project ..................................................................................................................37
CHAPTER VIII: DATA ANALYSIS .........................................................................................................38

CHAPTER IX: FINDINGS .........................................................................................................................40

9.1 Drivers ...............................................................................................................................................41

9.2 Restraints ...........................................................................................................................................42
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 9.3 Opportunities .....................................................................................................................................42
9.4 Segmentation .....................................................................................................................................43
9.5 Company Profiles ..............................................................................................................................48
9.5.1 BAE SYSTEMS .........................................................................................................................48
9.5.2 DENSO CORPORATION..........................................................................................................49
9.5.3 NIPPON SEIKI CO. LTD. .........................................................................................................52
9.5.4 VISTEON CORPORATION ......................................................................................................54
9.5.5 Continental AG ...........................................................................................................................56
CHAPTER X: CONCLUSIONS & SUGGESTIONS ................................................................................58

10.1 Conclusion .......................................................................................................................................59

10.2 Suggestions ................................................................................................................................59
CHAPTER XI: BIBLIOGRAPHY ..............................................................................................................60

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Table of Figures
Figure 1: Major Customers ..........................................................................................................................20
Figure 2: Revenue Graph .............................................................................................................................20
Figure 3: Product range ...............................................................................................................................21
Figure 4: SWOT Analysis ...........................................................................................................................29
Figure 5: Promotion on Facebook ...............................................................................................................31
Figure 6: Promotion on Twitter ...................................................................................................................31
Figure 7: Website Promotion .......................................................................................................................32
Figure 8: Promotion on YouTube ................................................................................................................32
Figure 9: Bae Systems Financial .................................................................................................................48
Figure 10: Bae Systems Geographic and Business Revenue Mix ...............................................................48
Figure 11: DENSO Financial.......................................................................................................................50
Figure 12: DENSO Geographic and Business Revenue Mix ......................................................................50
Figure 13: SWOT Analysis of DENSO .......................................................................................................51
Figure 14: NIPPON SEIKI CO. LTD Financials ........................................................................................52
Figure 15: NIPPON SEIKI CO. LTD Geographic and Business Revenue Mix .........................................52
Figure 16: NIPPON SEIKI CO. LTD.: SWOT Analysis ............................................................................53
Figure 17:Visteon Financial ........................................................................................................................54
Figure 18: Visteon Geographic and Business Revenue Mix .......................................................................54
Figure 19: SWOT Analysis Visteon ............................................................................................................55
Figure 20: Continental AG Financial ..........................................................................................................56
Figure 21: Continental AG Geographic and Business Revenue Mix ..........................................................56
Figure 22: Continental AG SWOT Analysis ...............................................................................................57

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CHAPTER I: INTRODUCTION AND RATIONALE OF THE STUDY

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1.1 Introduction to The Title
The use of displays in automobiles is considered a luxury specification reserved for high-end and premium
vehicles. The rapid developments and constant innovations in automotive infotainment and navigation
systems have made displays a centrepiece in most automotive designs. An automotive head-up display is a
transparent display screen that depicts information in the automobile without the consent of the users to
look away from their viewpoints. The projector is inserted on the dashboard displaying image on the screen
providing the information such as speed, warning signals, and indicator arrows for navigation exactly where
the driver needs it. Displays have been able to enhance and better facilitate the overall driving experience,
by offering more information to drivers and eliminating the need for vehicles cluttered with switches and
knobs. The working of HUD in automotive includes projection of a reversed image on to the windscreen,
which is then reflected directly into the driver's eyeline. They are embedded by mostly two technologies
conventional HUD and augmented reality HUD. Whereas, by type, they are classified into windshield and
combiner. The windshield is generally used as they use a projector and a set of mirrors to convey
information to the driver, which appears either just below or above the driver’s line of sight.
The head-up displays are incorporated with features such as Bluetooth, and GPS, navigation which helps
drivers to reach the destination. HUD has an easy installation process with affordable cost useful in
conditions such as bad visibility. The eyes-on-the-road-benefit is the main advantage these displays provide
to the drivers coupled with better speed maintenance and enhanced driving quality. These are
predominantly used in the automotive industry especially in luxury and mid-segment automobiles. This
innovative technology is broadly implemented in the automobile industry to impart convenience to drivers.
The automotive head-up display finds extensive application in military, defence, and army tanks.
Rapid developments for automotive infotainments and navigations systems, in tandem with the growing
notion of a “connected vehicle”, have driven displays to take centre stage in automobile designs. Displays
incorporated with augmented reality (AR) is the new advancement in the automotive sector and becoming
the area of interest for manufacturers. Recent advances in display technology have improved the design of
HUD systems, with the incorporation of liquid crystal displays (LCD) and light-emitting diode (LED)
technology, which convey brighter images and are less expensive to manufacture. The market players such
as Audi has installed HUD in their Audi R8 model. Even BMW 5 series have full-colour HUD making this
one of the best systems on the market. The Jaguar XF has installed the latest HUD using laser technology.
Jaguar’s HUD system is viewable in direct sunlight and shows traffic sign recognition data alongside
navigation and speed instructions.

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CHAPTER II: INDUSTRY/ SECTOR PROFILE

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2.1 Overview of The Industry/ Sector
Marketing research is a systematic problem analysis, model building and fact finding for the purpose of
improved decision-making and control in the marketing of goods and services. In simple words, it answers
where, when and how? The market research industry was established in 1920’s and formal practice started
in 1930’s.
According to Statista, the global revenue of the market research industry exceeded 73.98Billion U.S.
Dollars in 2019.The annual growth rate of global market research industry was 3.9%. North America (45%)
and Europe (35%) are dominating the market research industry in terms of market share and revenue. Rising
market players and rapidly increasing business and new start-ups, the industry expected to grow at a rapid-
pace in the future. The newer and emerging segments of the industry, such as data analytics and AI-driven
consumer research, boomed in 2017, adding $3 billion to the industry’s roster. The US remains the globe’s
largest sector for market research services, followed by the UK, the Middle East and Asia Pacific are the
fastest growing regions.
Market research industry has shown steady growth in the 21th century. Market research companies collect,
analyze, store, tabulate, and then present the data on public and marketing requirements, even SEO and
lead management are now crucial aspects of this sector. There are approx. 5,400 market research companies
offering market research consulting and services globally. There are two major types of market research:
primary research, which is sub-divided into quantitative and qualitative research, and secondary research.
The factors that can be investigated through market research include Market information, Market
segmentation, SWOT analysis, PEST analysis, Customer analysis, and Competitor analysis.

2.2 Contribution of the sector towards GDP

Emergence of new age sectors like Telecom, Media (Digital) & Insurance are helping the Market Research
Industry to climb to new heights. The market research industry is resilient. Whether the economy is weak
or strong, companies will always need market research to help them improve their business reputation,
enhance their relationship with their customers, and increase their revenue.
Market Research contribute ~1.3 to 1.5% to GDP. The government spends 0.6-0.7% in market research
industry. The market research industry has grown steadily over the last five years. But innovations could
rapidly increase potential revenue in the research industry in the future. Due to ongoing global pandemic
the market size of the Market Research industry in the US has declined 0.8% whereas the market size of
the Market Research industry is expected to decline -6.3% in 2020.In 2020, R&D expenditure is anticipated
to increase, representing a potential opportunity for the industry.

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2.3 Major Players
1. Nielsen (USD 6.30 Billion)

2. Kantar (USD 3.84 Billion)

3. QuintilesIMS (USD 3.30 Billion)

4. Ipsos (USD 1.96 Billion)

5. Gfk (USD 1.67 Billion)

6. Optum

7. Tableau Software

8. Verisk Analytics

9. Video Research Ltd.

10. Westat Inc.

Nielsen remains comfortably the largest market research company in the world, with revenues exceeding
$6.3 billion. The second largest market research company in terms of global research revenue was Kantar.
Kantar Group is a UK-based international network of 12 companies, including Millward Brown and IMRB
International.
QuintilesIMS – formed through a merger last year of Quintiles and IMS Health – is a US-based company.
It ranks third globally ($3.3 billion), actually deriving the majority (59%) of its revenues outside the US.

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CHAPTER III: COMPANY OVERVIEW

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3.1 History
The company was founded by Mr. Amaan Kazi in the year 2015. It is headquartered in Boonton, New
Jersey. Mr. Amaan Kazi is engineer and currently owner and CRO at Verified Market Research. He started
his corporate career with Gartner. Advanced analytical research solutions within one platform; Verified
Market Research. Offering information enriched research studies that include primary and secondary
research studies. Verified Market Research assists in understanding holistic industrial factors and trends.
The company has a size of 51-200 employees. It has branch in Kalyani Nagar, Pune. Verified Market
Research has been providing Research Reports, with up to date information, and in-depth analysis, for
several years now, to individuals and companies alike that are looking for accurate Research Data. Their
large database includes the latest Content from renowned authors and publications worldwide. They’ve
recently developed one of its own kind smart-system, which helps us determine the authenticity and
reputation of the content and its author. This ‘smart-system’ ensures that we always include high – quality
content in our database. VMR also provide customized Data and Reports according to the need of our client.
They strive for excellence and perfection in all our work, and our in-house team is working 24/7 so that
you get the Data, Reports, and Analytics you need to help make better decisions.
VMR believe in Customer Satisfaction, and to achieve that we aim to understand the client’s need to provide
‘tailor-made’ services. Verified market research partners with clients to provide insight into strategic and
growth analytics; data that help achieve business goals and targets. The core values include trust, integrity,
and authenticity for our clients.

3.2 Mission
To assist our clients, grow by providing quality market intelligence on high growth areas.

3.3 Vision
To be the most preferred market research and consulting partner for organizations across the globe.

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3.4 Management
Founder & CRO: Mr. Amaan Kazi

Digital Web Graphic

HR Sales Research
marketing Marketing Designing

Miss. Ayesha Koul Mr. Nikhil Pampatwar Mr. Navnath Ransing

Mr. Rohit Sandbhor Mr. Rohan Patil Mr. Suraj Malik

Under Mr. Nikhil Pampatwar - Sr. Research Analyst - Research Analyst- Research Associate
– RESEARCH INTERN

3.5 Composition of Board

Founder - Amaan Kazi
Under Amaan there are 6 different departments
Hr, Sales, Research, Digital Marketing, Web Marketing and Graphic Designing

• HR Manager - Ayesha Koul

• Head Of Sales - Rohit Sandbhor

• Head Of Research - Nikhil Pampatwar

• Head Of Digital Marketing- Rohan Patil

• Head Of Web Marketing- Navnath Ransing

• Graphic Designing - Suraj Malik

Under Rohit Sandbhor Under Rohan Patil Under Navnath Ransing

Sr BDE – BDE Team lead – Executive Executives only

Under Nikhil Pampatwar

Team lead - Sr. Research Analyst - Research Analyst- Research Associate

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3.6 Registered Address/ Number of Branches
1. North America
New Jersey (USA), 218 Washington Street, Boonton 07005
Tel: +1 (800) 782 1768
sales@verifiedmarketresearch.com

2. Asia Pacific
Pune (India), 4th Floor, Kalyani Nagar, Marigold IT Park.Pune-411014
Tel: +1 (650) 781 4080
sales@verifiedmarketresearch.com

3. New Zealand
Auckland (New Zealand), 276 Buckland Beach Road,2012
Tel: +1 (800) 782 1768
sales@verifiedmarketresearch.com

3.7 Major Customers

Figure 1: Major Customers

3.8 Financial Performance

Company witnessed 30% growth during COVID Pandemic (Feb-April).
Revenue: $2 Million

Figure 2: Revenue Graph

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3.9 Achievements
1. Started with working for GARTNER on white paper, writing blogs, content to merging as individual
identity and operating in 14 different verticals.

2. Verified Market Research is an ISO 27001:2013 certified company started in 2015.

3. Globally the company website ranked under 50 thousand.

4. In India, the website is in top hundreds. https://www.verifiedmarketresearch.com/

5. Market Research across North America, Europe, Latin America, Asia Pacific & Middle East.

6. Almost 550+ annual reports are published and received over 50,000 client inquiries till date.

7. Some of the company’s clients are from fortune 500 companies. The major clients are Intel, Dell,
Amazon, Schneider Electric, P&G, and IBM to name a few.

3.10 Products
The company offers the customized professional business reports in 14 different verticals covering all the
major sectors. Verified Market Research has been providing Research Reports, with up to date information,
and in-depth analysis and infallible proprietary data model driven by the 360 degree research methodology
ensures cent percent accurate analysis. The data includes research from various industries, along with all
necessary statistics like Market Trends, or Forecasts from reliable sources.
The portfolio includes:
Telecom & IT, Chemicals & Basic Materials, Agri & Food, Energy, Healthcare, Aerospace & Defense,
Semiconductor, Services, Technology, Automotive, Consumer Goods & Retail, Manufacturing &
Construction, Security & Intelligence System, Technology, and Company Reports.

Figure 3: Product range

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• Agriculture is considered one of the fastest-growing industries in the market with various factors
governing the marketplace.

• The manufacturing sector involves work performed in mechanical, physical or chemical

transformation of substances, materials or components into new products. The construction sector, on
the other hand, primarily covers work performed in the construction of buildings or engineering
projects.

• The key technology trends that are shaping future are augmented analytics, digital twins, empowered
age and others.

• The scope of the consumer goods industry started increasing during the second industrial revolution.
With the growing population and rising urbanization, the scope of consumer goods and retail industry
is expected to grow in the market.

• Security and Intelligence Systems have become an integral part of any technology. Security &
Intelligence is a domain wherein data generated on an organization’s network, get collected and
evaluated. This concept includes technology that is used and effective for combating emerging forms
of malware.

• Chemicals and Materials industry, the growing demand for novel products and applications, changing
consumer preferences and rising environmental awareness are few of the major factors impacting the
growth of the market.

• The modern healthcare industry is an amalgamation of sectors that provide goods and services intended
to treat individuals with therapeutic, rehabilitative, preventive as well as palliative care. The healthcare
industry is one of the world’s largest as well as fastest growing industries and can attribute a notable
percentage of a country’s GDP.

• Telecommunication, also known as Telecom is often referred to the transmission of signals, messages,
compositions, pictures, and sounds transmissions through the wire, radio, optical or other
electromagnetic frameworks. Whereas, Information Technology refers to the procedure of electronic
control of information, programming/coding, PC system(hardware) operations, and other information
administration.

• Within the Service industry, there are many types of services such as professional services and other
services. The market for professional services is increasing due to the rapid increase in technological
developments and rising business interaction with each other.

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CHAPTERIV: REVIEW OF LITERATURE

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1. Journal Name: Donghyun Beck, Jaemoon Jung, Juhee Park & Woojin Park, “A Study on User
Experience of Automotive HUD Systems: Contexts of Information Use and User-Perceived Design
Improvement Points.”
Published Date: March 2019
Abstract:
Despite three decades of use and related research efforts, how automotive HUD can be designed to best
serve the driver is still an on-going research issue. For any human-machine system, studying the
experiences of the existing users is an important first step towards design improvement and innovation.
Nonetheless, surprisingly few studies have investigated the user experience of the existing commercial
automotive HUD systems. In an effort to address the research gap, the current study conducted a user survey
on the usage contexts and design improvement points of the existing automotive HUD systems focusing on
eleven high-priority HUD information items selected among those displayed by the existing commercial
HUD systems. A total of fifty-one drivers with significant prior HUD use experience participated. Design
implications were derived from the survey responses. They may be useful for improving the existing
automotive HUD systems in both the system functions and the interface/interaction design.
Findings:

• Users were highly satisfied.

• Road accidents cases were reduced by 12%.

• 150 drivers were participated and later the customization was made.

• Based on results both the system functions and the interface/interaction design were improved to
enhance existing HUD technologies.

2. Conference Paper: Automotive electrical systems-the power electronics market of the future - J.G.
Kassakian, Applied Power Electronics Conference and Exposition, 2000. APEC 2000. Fifteenth Annual
IEEE, Volume: 1
Published Date: February 2000
Abstract:
The automobile is undergoing a revolution in the design of its electrical system. This is the result of
increasingly sophisticated engine and body controls, as well as the introduction of new, electrically
controlled functions. The main electrical bus of the future will be 42 V, and it will be buffered by a 36 V
battery. As many devices and electronic control units require voltages different from 42, conversion from
the 42 V bus to these other voltages will be necessary. Some anticipated features, such as electromechanical
engine valves, will demand both conversion and sophisticated control at power levels in the 2 kW to 10 kW

24
range. These, and other developments in automotive engineering, are promising to create a vital and
challenging new market for power electronics in the next decade.
Findings:

• The merger of advanced electrical and electronics in automobile create a pathway for cost, efficiency,
packaging and expandability.

• Automobile-Electric systems will create a very large and diverse market for power electronic controls,
systems and devices operated automobile.

• The results reflect that there has been an increasing interest in replacing mechanical actuators by^
electrical, improving electrical system efficiency, finding alternatives to the present 14Vdc system, and
improving safety and comfort by introducing new functions that are best controlled electrically.

3. Market Report: Automotive HUD Market, MarketsandMarkets

Published Date: March 2019
Findings:

• Automotive HUD Market – USD 1.1 billion (2019), BY 2025 USD 4.3 billion, at CAGR of 25.28%
from 2020 to 2025.

• Drivers: Increased adoption rate of advanced technologies by OEMs, fast generation of real-time and
reliable data from advanced driver assistance systems, and growing connected vehicles.

• Restraints: Lack of luminance, brightness, high-power consumption and high cost of advanced head-up
display systems
Link: https://www.marketsandmarkets.com/Market-Reports/automotive-head-up-display-market-
11272971.html#:~:text=%5B161%20Pages%20Report%5D%20The%20automotive,25.28%25%20
from%202019%20to%202025

4. Article: Kenneth W. Gish andLoren Staplin, “Human factors aspects of using head up displays in
automobiles.”
Published Date: August 1995
Abstract: This document provides an overview of studies investigating the use of HUDs by aviators and
drivers, including a summary of HUD research variables, test procedures and study results. The predicted
performance advantages of automotive HUDs include increased eyes-on-the-road time and reduced
accommodation time, particularly for the older driver. To date, the research does not provide robust
evidence for operationally significant performance advantages due to HUDs. However, conclusions are
25
equivocal due to the interaction of independent variables such as workload, display complexity and age.
Studies indicate that key operator performance issues with HUDs include contrast interference, where HUD
symbology masks safety-critical targets in the forward driving scene, and cognitive capture, or degradation
of responses to external targets due to the processing of information from a HUD image. In general, the
review supports and extends earlier findings that HUD information cannot be processed separately from
external roadway information. Countermeasures reviewed in this paper include the use of conformal
symbology, and auditory HUDs. The review identifies a number of implementation issues for automotive
HUDs: (1)reliable measures of the effect of HUD use on responses to priority external targets must be
obtained, under realistic operating conditions; (2) practical considerations of cost, size, and adaptability to
a range of driver eye heights figure prominently if the use of HUDs in the private vehicle fleet in the U.S.
is to become routine; and (3) driver age and associated visual/cognitive performance differences which are
commonly linked to safe vehicle operation must be taken into account during product design, development,
and testing.
Findings:

• Study indicates that automotive applications of head-up displays (HUDs), using current designs, will
yield mixed results.

• The predicted performance advantages of automotive HUDs include a variety benefits, particularly for
the older driver such as increased eyes-on-the-road time, which intuitively reduces the probability that
a driver will fail to detect a time-critical event.

• Relative motion of the HUD image and the to-be-detected external targetswill improve recognition of
external targets.

5. Market Report: AUTOMOTIVE HEAD-UP DISPLAY MARKET - GROWTH, TRENDS, AND

FORECAST (2020 - 2025), Mordor Intelligence
Published Date: September 2019
Findings:

• The automotive head-up display (HUD) market is expected to register a CAGR of over 24%, during the
forecast period, 2019-2024.

• Increased Adoption Rate of Windshield HUD.

• United States Driving the North American Market.

• In October 2018, Continental developed an augmented reality HUD that features new waveguide
technology, which enables large-area augmentation in the driver’s field of view.
26
Link: https://www.mordorintelligence.com/industry-reports/automotive-head-up-display-market

6. Market Report: Automotive HUD Market, Future Market Insights

Published Year: 2019
Findings:

• Global automotive head-up display (HUD) market size is likely to near US$ 590 Mn in revenues, by
2019 end

• Europe and North America are expected to remain prominent regional markets

• Drivers: Growing emphasis on passenger and driver safety.

• Nippon Seiki Co. Ltd., Continental AG, Visteon Corporation

Link: https://www.futuremarketinsights.com/reports/automotive-hud-market

7. Conference Paper: An Augmented Reality Head-Up Display System with a Wide-View Eyebox,
Pei-Jung Wu, Chih-Hao Chuang, Chien-Yu Chen, Jeng-Han Wu, and Bor-Shyh Lin
Published Year: 30 Jun 2020
Findings:

• The images are eventually arranged as a real image horizontally on a diffuser to distinguish the left
image, middle image, and right image. The divided images could be imaged at 1600 mm behind the
windshield through the virtual image projection system.

• With such a system, a driver could reduce the situation of not paying attention to or distracting from the
street to view the traffic information that the accident could be relatively reduced.

• The driver could acquire more vehicle conditions and real-time traffic conditions with the laser-based
head-up display.

• Because the miniaturized system could reduce the space and be arranged easily in a vehicle, this
proposed system could be suitable for the aftermarket.
Link: https://www.hindawi.com/journals/ijo/2020/4719268/#abstract

27
CHAPTER V: APPLICATION OF MANAGEMENT FRAMEWORK

28
5.1 Swot Analysis
A SWOT analysis is an incredibly simple, yet powerful tool to help you develop your business strategy,
whether you’re building a start-up or guiding an existing company. SWOT analysis is a crucial and
structured planning method of business research. Every business has to be aware of the possible issues
affecting their products or services in order to grow and sustain in today’s competitive world. A SWOT
analysis does exactly that.
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.
Strengths and weaknesses are internal to the company - things that you have some control over and can
change. Opportunities and threats are external - things that are going on outside the company, in the larger
market. One can take advantage of opportunities and protect against threats, but can’t change them.
Verified Market Research provide SWOT analysis for every detailed market reports they make. For a
SWOT analysis to be effective, generally it is done by owner, and research head.

Figure 4: SWOT Analysis

29
5.2 Marketing Mix
1. Product:
Verified Market Research is completely marketing research firm who is only into making market reports.
The main and product company is making is Detailed market reports followed by elaborated Market
Reports, Market Reports, and Customized market reports. The reports vary and comprises 14 verticals.
Telecom & IT, Chemicals & Basic Materials, Agri & Food, Energy, Healthcare, Aerospace & Defense,
Semiconductor, Services, Technology, Automotive, Consumer Goods & Retail, Manufacturing &
Construction, Security & Intelligence System, Technology, and Company Reports.

2. Place:
1. NORTH AMERICA
New Jersey (USA), 218 Washington Street, Boonton 07005
Tel: +1 (800) 782 1768
sales@verifiedmarketresearch.com
2. ASIA PACIFIC
Pune (India), 4th Floor, Kalyani Nagar, Marigold IT Park.Pune-411014
Tel: +1 (650) 781 4080
sales@verifiedmarketresearch.com
3. NEW ZEALAND
Auckland (New Zealand), 276 Buckland Beach Road,2012
Tel: +1 (800) 782 1768
sales@verifiedmarketresearch.com

3. Price:

• $0-999

• $1000-1999

• $2000-2999

• $3000-3999

• $4000-4999

• $5000 <
The price varies according to reports. Detailed market reports, Elaborated Market Reports, Market Reports,

30
and Customized market reports are three categories in which reports are categorised and charged.

4. Promotion:
VMR has well-structured own website wherein every detailed is provided about the company. Apart from
website it has its presence on Facebook, LinkedIn, Twitter, and YouTube. VMR has also tied-up with
existing marketing research websites to promote its reports.
VMR also uses Quora to promote and expand its expansion. There VMR team members creates and joins
existing groups and then provide reports link to hunt for potential clients.

Figure 5: Promotion on Facebook

Figure 6: Promotion on Twitter

31
 Figure 7: Website Promotion

Figure 8: Promotion on YouTube

32
CHAPTER VI: OBJECTIVES AND SCOPE OF PROJECT

33
6.1 Objectives
1. Study Market Research Procedures and Techniques.

2. To study the drivers and restraints of various market and its impact on global business.

3. To study the technological advancement and current trends in global market.

4. To find extensive company profiles comprising of company overview, company insights, product
benchmarking and SWOT analysis for the major market players

5. To analyze by geography highlighting the consumption of the product/service in the region along with
growth opportunities.

6.2 Scope of Project

1. Market research tools and techniques were inherited.

2. The project covered various markets on global level using various analyzing tools such as SWOT
analysis.

3. Project covers profiling of various companies in different verticals.

4. Geographically study was done on global level and regional trend coverage covers North America,
Europe, Asia Pacific, Latin America and Middle East & Africa.

5. The scope my internship includes my contribution I have made towards my two months tenure. In the
span of two months I have contributed by making 100+ Report Description, 80+ Elaborated Report
Description and one Detailed Market Report. On an average I have helped organization to generate a
value of 1 Cr. 30 Lakh.

34
CHAPTER VII: RESEARCH METHODOLOGY

35
7.1 Rational for the Study
The in-dept market reports will help clients to analyze and examine HUD market at global levels covering
detailed market overview, drivers, restraints, opportunities and threats about the market in the future.
Increasing the use of Virtual Reality Displays and Google Glasses in different sectors has made automobiles
companies to come up with new innovations. Head-Up Display (HUD) installed on car display shows
information or data in such a manner that the user doesn’t get distracted and lose focus of their current task.
Automobiles are becoming smarter and safer with the introduction of HUDs. This will help in making
strategic decisions.

7.2 Statement of Problem

A syndicated study on Automotive Heads-Up Display Market.

7.3 Research Objectives

1. To find drivers, restraints, opportunity and challenges for global automotive heads-up display market.

2. To do company profiling and study the technological advancement and current trends in global market.

3. To analyze competitive landscape.

4. To give market estimation up to 2027.

7.4 Research Design

It is completely secondary research. To identify the product specifications, product types, qualitative and
quantitative data.
For data analysis the parameters were considered are:
• Deep study of the market drivers & restraints
• Technological improvements
• Applications in industry trends
• SWOT analysis

7.5 Data Sources

1. Study competitor’s websites to refer already published market reports.

2. Online available data on internet and web which includes press releases, company annual reports and
research papers related to the industry.
3. Various sources such as industry magazines, trade journals, government websites and associations were
also reviewed simultaneously.

36
7.6 Limitations of the Project
1. Some companies in the market are privately owned, and their revenues are not available in the public
domain. While doing company profiling many companies are privately owned and thus it is very
difficult to know various parameters such as - Financial performance, Organogram, Functional
overview, Business segment comprising income, asset size and profitability.
2. Primary research tool & techniques. As the information was gathered and market report was completely
made with secondary research methods. So, primary research aspects, learnings and implementations
were inhibited. The report was lacked surveys, interviews, telephone interviews, observations, test
marketing, questionnaire, and ethnographic research
3. Private companies detailed information's such as geographical reach, mergers and acquisitions etc.
4. On-field experience.
5. Proprietary issues as some of the secondary sources might have copyrighted their information and using
them without permission can lead to various legal complications.

37
CHAPTER VIII: DATA ANALYSIS

38
The findings and entire report data were collected and analyses through secondary research. The data was
extracted from competitors’ websites such as
1. https://www.marketsandmarkets.com/
2. https://www.globenewswire.com/
3. https://www.mordorintelligence.com/ and many others.

• Along with competitors press release, articles, research papers were analyzed. Press Releases by
competitors worked and helped significantly.

• For company profiling session, Annual reports were studied in detailed.

• For calculating CAGR, excel software was used.

Microsoft Excel for CAGR calculations. Compound annual growth rate (CAGR) is a business and investing
specific term for the geometric progression ratio that provides a constant rate of return over the time period.
It is the rate of return required for an investment to grow from the starting balance to the ending balance,
assuming profits are reinvested each year, and interest compounds annually.
Growth rates differ by industry and company size. Sales growth of 5-10% is usually considered good for
large-cap companies, while for mid-cap and small-cap companies, sales growth of over 10% is more
achievable.
Mathematically, CAGR = (End value/ Beginning value) ^1/n -1
Where n = investment period
Example: The automotive HUD market is estimated to be worth USD 866 million in 2020 and is projected
to reach USD 3,372 million by 2025, at a CAGR of 31.3% during the forecast period.

39
CHAPTER IX: FINDINGS

40
1. The Global Automotive HUD Market was valued at USD 1.07 Billion in 2019 and is projected to reach
USD 6.34 Billion by 2027, growing at a CAGR of 24.96 % from 2020 to 2027.

2. Conventional HUD segment is estimated to account for the largest market size during the forecast
period.

3. Windshield HUD type segment is estimated to account for the largest market size during the forecast
period.

4. Asia Pacific and Europe are estimated to be the largest market with the highest share of the global
automotive HUD market, by value. The regional market is dominated by the demand from Germany
and the UK.

5. Drivers, Restraints and Opportunity.

9.1 Drivers
1. Growing demand in Luxury and High-End Cars
The global demand for luxury and high-end car segments has seen an upward trend from the past few years.
Luxury vehicles are a prominent segment of the automotive HUD market and are characterized by the
superior and luxury offerings in vehicles. The individual perception of buying luxury and high-end cars is
on rise. The need for comfort and technologically innovative features that convey the social status of an
owner have generated the demand and changed the perception of luxury vehicles. The factors such as
affordability, social status, premium facilities, and disposables incomes are the boosting factors for the
luxury and high-end car segments for the automotive HUD market.
According to Statista, the global luxury car market is one of the most valuable luxury markets. There is
rapid growth in luxury car segment. In luxury cars, BMW leads the luxury car sales followed by
BMW/Rolls-Royce, Audi, and Jaguar Land Rover. The BMW Head-Up Display system uses a small
projector and a system of mirrors that beam high-contrast images onto a translucent film on the windscreen.
Images are projected directly into the driver’s line of sight, and appear about two meters away, making
them easy to read and process. BMW Head-Up Display has adjustable height for optimal viewing, and
produces full-colour images in many more recent BMW models. The drivers can control their BMW HUD
output through the iDrive Controller.

A drastic shift in the adoption of technologically advanced, eco-friendly luxury vehicles would unlock
numerous opportunities for the luxury vehicles market. The demand has enlarged globally especially in
developing. The main players of the luxury car market globally are the BMW, Mercedes-Benz, Audi, Jaguar
Porsche, Infiniti Rolls Royce, and others. As luxury car manufacturers are launching multiple models with
various price ranges, along with advanced head-up display models. The increasing luxury and high-end car

41
sales globally is expected to boost the sales of automotive HUD market.

2. Increasing Number of Road Accidents Worldwide

A large pool of population around the world suffer road accidents, which leads to injuries, disabilities, and
in worse case death. According to the World Health Organization (WHO), in 2018, annually around 1.35
million people die due to road accidents. According to the same reports, cyclists, pedestrians, and riders of
motorized two and three-wheelers are more susceptible. Installing HUD in vehicles will offer a solution for
avoiding or minimizing the road accidents. Automotive HUD transfers key information directly in front of
the driver without the consent of the driver to look away from their viewpoints, which reduces the chances
of distractions and thereby minimizing chances of accidents.
The head-up display technology displays basic information, speed limits along with the locations of
pedestrians through external sensors. It transfers data to drivers regarding lane guidance assistance by using
an automotive navigation system and navigates information about the lane to follow at junctions and
intersections. To reduce accident mishap the HUD technology projects a virtual screen approximately three
meters ahead of the driver permitting the driver to access more intuitively about the key information about
the vehicle and its surroundings without shifting the direction of gaze. These factors will decrease the count
of accidents and thrust the automotive HUD market.

9.2 Restraints
1. High Cost of Advanced Head-Up Display Systems
Head-up displays require cutting-edge technology to implement, naturally, increasing the initial cost. Thus,
it is typically installed in sports and luxury cars. Due to high-cost factors, consumers are moving towards
alternatives, low-cost public transport systems such as buses and railways, and other cost-effective private
vehicles. The main factor upscaling this challenge is the lack of ownership from the middle-class population
owing to the high cost. This challenge has created barriers for manufacturers to enter into the HUD market.
Owing to their high cost, HUDs are embraced only in premium and luxury cars whereas mid-segment cars
witness sluggish growth. High cost of aforementioned car segments to restrain growth of the worldwide
automotive HUD market.

9.3 Opportunities
1. Increased Demand for Semi-Autonomous and Electric Vehicles
The advent of semi-autonomous and electric vehicles in the automotive industry will boost the automotive
HUD market for the forecast period. The electric vehicle market has observed tremendous evolution with
the ongoing developments in the automotive sector. Favorable government policies and proactive
participation by automotive OEMs would drive the semi-autonomous and electric vehicle sales. The
technological advancements have merged E-vehicles with HUD’s. The power source for both EV and HUD
is electricity hence many big market players have incorporated the latest heads-up displays with E-vehicles.

42
The ease of living is becoming new normal for the young generation and this habitually has upsurge semi-
autonomous vehicle market.
Electric vehicles have witnessed rapid growth in the Asia Pacific market followed by Europe and North
America. The APAC region is known and inclined toward innovation, technology, and the development of
advanced electric vehicles. The consumer interest has changed and has shown positive reflection towards
electric vehicles. Understanding this consumer perception market players such as Volkswagen has
manufactured a prototype of EV with HUD. Hence, the increasing demand for electric vehicles will
positively create a strong opportunity for automotive HUD market in the forecast period.

9.4 Segmentation
• BY TECHNOLOGY it is bifurcated into Conventional and Augmented HUD.
Conventional HUD
Conventional HUD segment is projected to account for the largest market size during the forecast period.
Conventional HUDs display essential information and data comprising numbers and letters along with
weather, navigational, and other symbols. The projected information revel automotive position information
like landmarks, a horizon line, national highways, cautionary boards, turn/bank & slip/skid indicators,
weather forecast, and automobile speed, along with other data from the automobile engine and
instrumentation such as fuel indicator, vehicle tire air compression ratio, maps, Bluetooth and GPS. The
conventional HUDs are the advanced version of patent HUD technology and referred to as third-generation
automotive HUDs. They produce images directly in the combiner, without the need for a projection system
with the help of using optical waveguides. The next generation of HUD technology adds up infrared video
or synthetic terrain information to further enhance the display.
The continuous technological advancements have developed upgraded versions of conventional HUDs.
Microsystem technology and MEMS (microelectromechanical systems) micromirrors have found various
applications in conventional HUDs. Micromirrors is one such advancements. The micromirror automotive
HUD significantly minimizes the size and cost of conventional design HUD. They work on real image laser
principles and display information such as speed, route, car location, and turning direction.
A conventional head-up display was initially developed for the military and aviation industry. However,
they are progressively being used in automotive applications. Conventional HUDs are further segmented
into windshield HUDs and combiner HUDs. The increasing implementation of the conventional head-up
display technology by OEMs, reducing installation prices of head-up display systems, and rising
importance and concerns given to vehicle and passenger safety systems will be the factors responsible for
the growth of conventional HUD market. Major HUD vehicle manufacturers are adopting conventional
HUD to provide a transparent view of surroundings along with driver’s safety, which is likely to boost the
automotive head-up display (HUD) market across the globe. Conventional HUDs will dominate the HUD
market as compared to the augmented reality HUDs as the latter are yet in the nascent stage of their growth.
43
Augmented HUD
AR technology enabled HUDs are the most awaited innovation by today’s automotive manufacturers. These
displays are more convenient for drivers and ensures driving safely. The idea behind implementing
Augmented Reality (AR) is to connect the digital information with the real world by showcasing real-time
routes, road signals, speed limits, and warnings using data from cameras, WIFI, maps, sensors, Bluetooth,
and GPS. Besides this, the interface of HUDs displays information such as speed, fuel gauge, engine status,
and a lot more by extracting the vital data from vehicle electronic control units (ECUs). AR HUD permits
vehicles to communicate more information and data than a traditional dashboard.
The implementation of augmented reality plays an essential role in the development of driverless vehicles.
The information about the route and other performance updates is displayed on screens supported by
augmented reality technology. Augmented reality HUDs displays graphics that interact with the driver’s
FOV, reflecting critical information directly onto the real world.
Mercedes Benz launched its most awaited Augmented Reality built a mobile app called AskMercedes that
enables users to completely understand vehicles on mobile phone screen or tablet. They just need to place
mobile in car interiors and the app displays the live information on your mobile screen. AR would play a
catalyst role in the automobile showrooms to preview different options and features available in an
automobile without actually having all cars displayed there. This would be a supplementary advantage for
high-end car manufacturers who offer varied options with several customizations for their automobiles.
Envisioning the future of the automotive industry, AR is going to be a trend, which will grow bigger and
expand significantly and will change the way vehicles are produced. The growing government initiatives
for the incorporation of electric vehicles, an increase in government subsidies, and policies for the
development of electric vehicles. The demand for high-tech automotive has been incessantly rising in the
developing as well as developed economies as the income of the household consumer base is increasing at
an alarming rate. The changing consumer behaviour preference according to the changing technologies and
trends has upsurge the use of augmented reality in automotive henceforth boosting automotive HUD
market.

• BY TYPE it is bifurcated into Windshield and Combiner.

Windshield
Windshield HUD type segment is estimated to hold the largest market size during the forecast period.
In 2018, windshield HUD dominated the global automotive HUD market, thereby, generating a market size
of US$ 794.06 million by 2020 according to univdatosmarketinsights.
The windshield is made from laminated safety glass or a type of treated glass that comprises of two curved
sheets of glass with a plastic layer laminated between them for safety, and together bonded into the window
frame. The windshield HUD system uses a projector and a set of mirrors to display information and system
44
data, which appears either just above or below the driver’s line of sight. The system is developed to be
adaptable to the curvature of the windshield. Different vehicle models have different windshield curvature,
which makes it very essential to align the system to the windshield. The complex calibration process is
required that increases the cost of the system, and thus it is largely offered as an optional feature in vehicles.
The new systems are now capable to display compass direction, warning messages, and radio information
on the windshield. They offer advantages such as high-quality image adapted to any visibility conditions,
effortless driving with comfortable and safe journey, and tight surface tolerances which ensure good image
quality.
However, OEMs are anticipated to integrate a wide array of advanced driver assistance systems in the
windshield HUD and overlay the information in the driving situation with augmented reality. The
windshield HUD provides a broader area for visuals, and OEMs prefer the windshield HUD as it makes a
safer driving experience for both drivers and users. The increasing investment by manufacturers for the
development of a more advanced and effective solutions that can enhance the driver experience and safety
is driving the segmental growth. Moreover, the integration of advanced technologies, such as liquid crystal
displays (LCDs) and light-emitting diodes (LEDs) that deliver bright and transparent images and data on
the windshield display is increasing, owing to the development of display technology that helps
manufacturers to manufacture HUDs at minimum cost. This has positively anticipated to propel the
automotive head-up display (HUD) market worldwide.

Combiner
The Combiner glass is a partially transparent display that mixes the digital images with the real-world to
facilitate augmented reality. It uses a partially reflective screen like glass to display information in the line
of sight of the driver, to reach the driver’s eye the light rays need to bounce off a reflective surface. Hence,
this optical surface that combines the artificially generated image with the real world is called a combiner.
The new system belongs to the "combiner" category of head-up displays (HUD). The image generated is a
combination of the scenery outside the vehicle in such a way that makes them appear to merge with one
another at a distance of approximately two meters in front of the vehicle. The system does not project the
information onto the windshield instead of a small special plastic screen placed before it. The new head-up
system is thus completely self-contained and can be fitted to numerous types of vehicles without any major
technical modification necessary. The displayed information is invisible to the front passenger and only the
driver can read and access.
The combiner glass can be categorized based on the underlying technology principle and optics physics
into conventional optical combiners and waveguide combiners. Waveguide combiners are technically
sophisticated optical hardware solutions that are usually hard to design whereas conventional combiners
produce a reasonable visibility and image quality with consistent performance and are further bifurcated

45
into zed beam and off-axis combiners. Conventional combiners which use the concept of reflection and
refraction while waveguide combiners work on non-conventional techniques like holographic and
diffractive optics. Combiner glass is a preferred choice for installations of head-up display in luxury and
high-end commercial car applications. Bosch has introduced a new combiner head-up display for BMW
and Mini integrated into the instrument panel to provide information directly in the driver’s field of vision,
presenting detailed information such as the current speed, navigation recommendations and warnings
appear as if suspended in mid-air in front of the vehicle. The innovative technology widely used in the
automobile industry for providing convenience to drivers. The rapid developments and upgradations
coupled with extensive use of combiner technology in luxury cars have accelerated the automotive head-
up display (HUD) market.

• BY VEHICLE TYPE it is bifurcated into Luxury car and Economy car.

Luxury Car
Luxury Car vehicle type segment is estimated to hold the largest market size during the forecast period.
A luxury vehicle provides increased levels of equipment, comfort, quality, performance, amenities, and
status relative to regular cars for an increased price. The Luxury Cars segment is predisposed by the
distribution of wealth within a country or region, and generally follows economic trends. ownership of a
luxury car is seen as a status symbol, and their high price tags dictate how many can be bought, and by
whom. Bentley, Cadillac, Lincoln, Mercedes-Maybach, Porsche, and Rolls-Royce will continue driving
sales in this segment. All major luxury car manufacturers, such as BMW, Audi, and Mercedes-Benz are
incorporating the head-up display into some of their models, especially in premium segments. These luxury
car manufactures are also working with the head-up display (HUD) manufacturers to introduce these
systems into their mid-segment cars. This will drive the demand for head-up displays in the mid-segment
cars in the coming years.
The luxury car segment is one of the most dynamic contributors to revenue growth in the global automotive
HUD market. According to Statista luxury car segment accounted for over 40 percent of the worldwide
luxury market. The growing disposable income along with the increasing purchasing power of consumers,
rising demand for safety features in midsegment cars, and the increase in production and sales of these
vehicles are further expected to boost the demand for luxury cars in the global automotive HUD market
during the forecast period. Big luxury car manufacturers such as Audi and BMW have launched this
technology in their products. Technological upgradation has progressed to the point where it is feasible, it
is used in navigation as well as road marking. It is also useful in conditions such as bad visibility and
unfavourable condition. Moreover, an increase in the adoption of artificial intelligence in vehicles is
estimated to play a key role in propelling the automotive head-up display (HUD) market. Developed
counties are more focused on the adoption of a head-up display. Automobile such as Volvo XC90,
46
Mercedes-Benz C-Class, BMW 7 Series, Jaguar XF, and MINI Cooper are some examples of luxury
premium cars installed with the latest HUD technologies.

Economy Car
An economy car is an automobile that is designed for low cost of operation and low purchase. Typical
economy cars are small, inexpensive to buy, and lightweight compared to luxury cars. They are generally
preferred for city driving and suitable for four people for shorter trips, and two or three people for longer
trips. Economy cars have slightly different specifications and look different on the surface, but they all have
similar dimensions, engines, luggage, and passenger space. Ford Fiesta, Vauxhall Corsa, Hyundai i10,
Nissan Micra, Renault Clio, and Volkswagen Golf falls under the economy cars category. HUDs now are
finding their way into economy cars as well. The key reason for this upward rise in trend is that head-up
displays are said to improve auto safety significantly. Another reason is that the installed cost of these
instruments has dropped enough so that today, not only luxury vehicles are equipped with this device but
economy cars have also opened themselves to get readily installed with HUD technologies.
With low-cost HUD systems being developed for economy cars and mid-segment cars. The combiner HUD
may be an alternative version. It requires lesser space for installation and its compact size makes the
combiner HUD a perfect fit for economy cars. The installation of HUD in economy cars is projected to be
driven by a rise within the adoption of economy cars, parallelly propelling the automotive HUD market.
The major market players such as DENSO Corporations, and BAE systems are now focusing on economy
cars to increase HUD reach. Economy car word is generally used in the United States. The U.S is the largest
country generating revenue worldwide. The economy cars have a huge market in developing countries
owing to these peculiar characteristics along with the affordable price range this segment has got a lucrative
opportunity to accelerate automotive HUD market. Companies like Toyota and Maruti Suzuki have
incorporated HUD with basic technology systems. On, the other hand Visteon has developed a new HUD
system for economy cars along with TATA Motors. The growing technological upgradations and
continuous R&D along with mass production of economy cars will drive the global automotive HUD
market.

47
9.5 Company Profiles
9.5.1 BAE SYSTEMS
Company Overview:

BAE SYSTEMS is a public company headquartered in Farnborough, United Kingdom. The company
operates at a global level through its respectable business segment: air, land, and naval forces, as well as
advanced electronics, security, information technology, and support services. The land segment covers the
automotive HUD business. BAE Systems is a global defence, aerospace and security company employing
around a skilled workforce of 85,800 people. The company has a presence in more than 40 countries
managing businesses from headquarters located in the US, UK, The Kingdom of Saudi Arabia, and
Australia.

BAE Systems is a front-runner in HUD vision, development, and production. The dominating position
gained was through continuous investment in technology and innovation. BAE Automotive HUD is one of
the leading companies in the world offering its Digital Light Engine (DLE) HUD is a world-leading
upgraded version to existing head up, eyes-out see-through display systems which are installed in the luxury
and high-end cars such as BMW, Audi, Porsche and also serves aftermarket customers offering production
and installation of customized heads-up displays. The integration is seamless and quick, avoiding costly
cabling and computer changes, as well as downtime.
Bae Systems: Company Insight

Figure 9: Bae Systems Financial

Figure 10: Bae Systems Geographic and Business Revenue Mix

48
BAE SYSTEMS: PRODUCT BENCHMARKING

Category Product
• Lite HUD Head-Up Display

Heads-up Display • Digital Light Engine (DLE) HUD

• Digital Helmet-Mounted Display

BAE Systems: Key Developments

Date Key Developments Description

• BAE SYSTEMS gains contract by US Defense

advanced research projects agency to develop
cyber tools to help prevent vulnerabilities in
December 2019 Agreement electronic files.
• Through this contract they will develop advance
HUD technologies for US army tanks and
automobile.

• BAE SYSTEMS signed an agreement with TAI

officials to provide assistance in developing the
January 2017 Agreement
TAI TFX aircraft and play significant role in the
production of military HUD equipment.

9.5.2 DENSO CORPORATION

Company overview:
DENSO Corporation is a public company headquartered in Kariya, Aichi, Japan. It is the global
manufacturer of automotive parts such as gasoline and diesel engine components, hybrid vehicle
components, climate control systems, instrument clusters, air-bag systems, pre-crash radar systems, and
spark plugs. In June 2020, Denso announced that it has opened its Electrification Innovation Center at its
plant in Anjo, Aichi, Japan. The company has a presence outside Japan and has a total of 200 subsidiaries
and 170,932 employees on a consolidated basis until March 2020. The subsidiaries are distributed as Japan
64, North America 23, Europe 32, Asia 74, Others 7. They have entered international markets of India,
Mexico, and Indonesia to accommodate further global demand for their products.
DENSO Corporation is focusing on developing advance automotive technologies that help keep a driver's
eyes on the road and hands on the wheel, it has created the world's largest projection size TFT LCD Head-
up Display (HUD). These displays help drivers to see lane guidance and inform the presence of pedestrians

49
overlaid on the actual scenery; simultaneously drivers can obtain information more quickly and naturally.
The new DENSO HUD designed the positions, colors, and other indication factors of HUD coupled with
sensor-based technologies to make for a more natural driving experience.
DENSO Corporation: Company Insight

Figure 11: DENSO Financial

Figure 12: DENSO Geographic and Business Revenue Mix

DENSO CORPORATION: PRODUCT BENCHMARKING

Category Product
• Larger-Display TFT HUD
Heads-up Display
• Driver Status Monitor

DENSO CORPORATION: KEY DEVELOPMENT

Date Key Developments Description

• DENSO Takes a Stake in PiNTeam to
Accelerate Development of Basic Software for
In-Vehicle Electronic Control Units.
December 2019 Partnerships
• This partnership will help DENSO to escalate
its in-vehicle embedded software technology
deployed primarily in Europe.

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 • DENSO to Invest $1.6 Billion to Strengthen
Development and Production of Automotive
Electrification Products and Systems
April 2019 Product Development • This investment will support its aggressive
development and production of electrified
automotive products, HUD systems and
technologies.

• DENSO Develops World’s Largest Automotive

Head-up Display.
• DENSO developed a thin-film transistor (TFT),
liquid-crystal head-up display (HUD) to project
October 2017 Product Development
critical driving information onto the windshield
for drivers. This HMI technology is the world’s
largest automotive head-up display with an
almost 24-inch projection.

DENSO Corporation: Swot analysis

Figure 13: SWOT Analysis of DENSO

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9.5.3 NIPPON SEIKI CO. LTD.
Company Overview:

NIPPON SEIKI CO. LTD. is a public company headquartered in Nagaoka, Niigata, Japan. It manufactures
instrument panels for automobiles, motorcycles, boats, farm tractors, and construction machines. They also
produce head-up displays (HUD) for automobiles. The company has a presence in 11 countries managing
businesses from headquarters located in the Japan, America, Europe, and Asia. They have a skill workforce
of 14,663 (consolidated basis) and 1,803 (non-consolidated basis).

The automotive industry is rapidly changing and Nippon Seiki responds positively to these changes. The
company incorporated instrument clusters for automobiles. Its instrument clusters product line embraces
automobile instruments; head up displays; motorcycle instruments; and instruments for tractors, rice plants,
power shovels, pleasure boats, personal watercraft speed meters, information displays, and tachometers.
Instrument clusters incorporates ITS (Intelligent Transport Systems) functions, ergonomic improvements
and enhanced safety features. They provide different information clusters technologies such as Light-
emitting type, Digital & Analog combination type, and Normal type. Nippon Seiki is a leading supplier of
instrument clusters in the world and offers state-of-the-art technology in this field. Nippon Seiki’s HUD’s
are installed in BMW 5series.
NIPPON SEIKI CO. LTD.: COMPANY INSIGHT

Figure 14: NIPPON SEIKI CO. LTD Financials

Figure 15: NIPPON SEIKI CO. LTD Geographic and Business Revenue Mix

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NIPPON SEIKI CO. LTD.: PRODUCT BENCHMARKING

Category Product
• Light-emitting type

Instrument Clusters • Normal type

• Digital & Analog combination type
• HUD windshield in BMW X5 and
Heads-up Displays
BMW AG.

NIPPON SEIKI CO. LTD.: KEY DEVELOPMENT

Date Key Developments Description

• Established Nippon Seiki Poland in Lodz,
Poland.
• In February 2019, Nippon Seiki announced an
investment of JPY 1 Billion, to expand the
February 2019 Expansion production capacity of HUD and parallelly
establish a new production facility, to
manufacture onboard gauges and displays in
Lodz, Poland. The new facility will start full-
sized operations by October 2020.

NIPPON SEIKI CO. LTD.: SWOT Analysis

Figure 16: NIPPON SEIKI CO. LTD.: SWOT Analysis

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9.5.4 VISTEON CORPORATION
Company Overview:
VISTEON CORPORATION is a public company headquartered in Van Buren Charter Township,
Michigan, United States. It is an American global automotive electronics supplier and Fortune 500
company. Visteon is a derivative of the Ford Motor Company, as Delphi is from General Motors. Visteon
the only Tier 1 supplier exclusively to cockpit electronics, uniquely positioned to meet automakers’ needs
for smart, digital cockpits for electric and automated vehicles. Visteon is the only industry to address the
proliferation of electronic control units (ECUs) through SmartCore™ cockpit domain controller solution.
The company has a vast portfolio consisting of Instrument Clusters, Infotainment, Displays, Head-Up
Displays, Telematics, Domain Controller, Autonomous. The company has a presence in 18 countries
managing businesses from headquarters located in the US, Europe, Asia, and North America.

Visteon was the first to launch combiner HUDs and expanded to windshield HUDs. Visteon’s HUDs
complement instrument clusters in the digital cockpit coupled with improved field of view, larger projection
distance, and richer colors. Visteon’s Augmented reality (AR) HUDs uses a wide field of view HUD
displays, combined with artificial intelligence-based object detection technology to enhance the driver’s
view of the environment outside the vehicle by overlaying graphics on the windshield, creating a greater
sense of awareness of the surroundings. The company is participating in this new era of technology in the
same place – the fast lane.
VISTEON CORPORATION: COMPANY INSIGHT

Figure 17:Visteon Financial

Figure 18: Visteon Geographic and Business Revenue Mix

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VISTEON CORPORATION: Key Development

Date Key Developments Description

• Visteon supplies innovative technology to

India’s top-selling SUV.
• Visteon has enhanced its regional supplier
June 2020 Product Development
position in the digital cluster segment in India
with the recent debut of its cockpit technology
for the popular Hyundai Creta SUV.

• Augmenting the cockpit with Visteon's latest

in-vehicle solution.
• Visteon leads the way in offering car
April 2020 Product Development manufacturers access to connected and Cloud
services in the cockpit through the smartphone
or embedded Android and HTML5
technologies.

• Visteon expands India engineering operations

June 2019 Expansion
with new technology center in Bangalore.

VISTEON: SWOT ANALYSIS

Figure 19: SWOT Analysis Visteon

55
9.5.5 Continental AG
Continental AG is a public company headquartered in Hanover, Germany. It manufactures automotive parts
manufacturing company specializing in tires, brake systems, powertrain and chassis components, interior
electronics, automotive safety, tachographs, and other parts for the automotive such as Heads-up displays,
and display solutions. Continental creates advanced technologies and services for the sustainable mobility
of people and their goods. The technology company offers efficient, safe along with intelligent and
affordable solutions for vehicles, machines, and transportation. The company has a skilled workforce of
2,44,582 employees and a presence in more than 59 countries managing businesses from headquarters
located in Germany, Europe, and Asia.
After acquiring Siemens AG's VDO automotive Continental was ranked third in global OEM automotive
parts sales. Continental HUD represents its holistic approach for the human-machine-interface (HMI)
which will lead to an interaction without words between the driver and his vehicle. Continental AG has
four different heads-up display solutions which encompass advance displays and indicators in the
instrument panel and display solutions for rear-seat passengers. The driver can select the desired indicator
content, such as the navigation system, radio, phone, and apps irrespective of safety & security applications.
CONTINENTAL AG: COMPANY INSIGHT

Figure 20: Continental AG Financial

Figure 21: Continental AG Geographic and Business Revenue Mix

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Continental AG: Product Benchmarking

Category Product
• Natural 3D Display
• Curved Plastic Lens Display
• Display Solutions • 3D Surface Display
• 3D Touch Surface Display
• Haptic Feedback Display
• Windshield HUD
• DMD HUD
• Heads-up Displays
• Augmented-Reality HUD
• Waveguide HUD

Continental AG: Key Development

Date Key Developments Description

• Continental AG and the Pioneer Corporation

May 2020 Agreement signed a strategic cooperation agreement to
create a holistic user experience in Asia market.

• Continental developed an augmented reality

HUD that features new waveguide technology,
October 2018 Product Development
which enables large-area augmentation in the
driver’s field of view.

CONTINENTAL AG: SWOT ANALYSIS

Figure 22: Continental AG SWOT Analysis

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CHAPTER X: CONCLUSIONS & SUGGESTIONS

58
10.1 Conclusion
1. Displays incorporated with augmented reality (AR) is the new advancement in the automotive sector
and becoming the area of interest for manufacturers.

2. Recent advances in display technology have improved the design of HUD systems.

3. These factors in tandem with the growing notion of a “connected vehicle”, have driven displays to take
centre stage in automobile designs.

4. Potential sector for countries economic stability and up growth.

Automotive HUD has huge potential in future owing to technological advancement, and emerging
technologies such as Artificial intelligence, IoT, Machine Learning. The future of the Head Up Display
(HUD) market looks promising with opportunities in the large car, SUVs & crossovers, mid-size car, and
light commercial vehicles market. Many renowned companies have already implemented and installed
HUDs. The application of HUD in automobiles is very easy but costly. The current state of automotive
HUDs suggest that we have fully characterized the benefits that might be achieved by displaying
information with HUDs. The most important benefit that HUDs have demonstrated is that they keep driver’s
attention directed towards the road. Because of HUD the driver is able to give quicker reactions and fewer
errors in detecting obstacles. This benefit could be applied towards improving driver safety, and HUDs
could be used to display information that would normally require long glance time away from the road.

10.2 Suggestions

Sr. No. Suggestion Projected Business Outcomes

1. Company should bridge the communication gap Will improve the productivity of the
between top authorities and employees. company.

2. Verified Market Research should work on their It will increase the brand awareness of
online platforms and improve them by investing the company and will help in to gain
more resources in Social media marketing maximum leads for their product
services.

3. Regular feedback should be taken from the Company can easily identify the
employees of the Company. problem face by employees.

4. Geographical expansion is necessary. Will help company to increase their

reach.

5. Improve pay scale of employees. Input-Output ratio will increase.

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CHAPTER XI: BIBLIOGRAPHY

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1. https://www.verifiedmarketresearch.com/

2. https://www.marketsandmarkets.com/

3. https://www.alliedmarketresearch.com/

4. https://www.coherentmarketinsights.com/

5. https://www.carkeys.co.uk/guides/10-best-cars-with-head-up-displays

6. https://www.denso.com/global/en/news/news-releases/2019/20191217-g01/

7. https://www.visteon.com/newsroom/visteon-supplies-innovative-technology-india-top-selling-suv/

8. file://Contenintal%20Annual%20Report.pdf

9. https://www.researchgate.net/publication/301776934_Head-up_displays_in_driving

10. https://investors.baesystems.com/~/media/Files/B/Bae-Systems-Investor-Relations-V3/PDFs/results-
and-reports/results/2020/bae-ar-complete-2020-03-23-annual-report.pdf

11. https://www.denso.com/global/en/news/investors/2019/20190930-51/

12. https://www.hindawi.com/journals/ijo/2020/4719268/#abstract

13. https://www.sciencedirect.com/science/article/abs/pii/S0141938204000022

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