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At a CAGR of 21.3% The Global Head-up Display Market Anticipated to Hit US $6.4 Bn by 2027

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Chicago, Feb. 01, 2023 (GLOBE NEWSWIRE) — The report Head-up Display Market by Type (Conventional Head-up Display and Augmented Reality (AR) Based Head-up Display), Application, Components (Video Generators, Projectors/Projection Units, Display Units, Software) and Region – Global Forecast to 2027″, size is projected to grow from USD 2.4 billion in 2022 to USD 6.4 billion by 2027 it is expected to grow at a CAGR of 21.3% from 2022 to 2027.

The key factors contributing to the growth of the head-up display market include increasing awareness about passenger and vehicle safety, growing adoption of AR based head-up display etc. However, space constraint in automotive cockpits and high luminace, brightness and power requirements is hindering the growth of head-up display market. Impact of COVID-19 on supply chain and the global chip shortage possesses a huge challenge to the industry. However, growing demand for electric and semi-autonomous vehicles is the biggest opportunity in the market space with Europe having the highest market share and North America the highest CAGR for the forecast period.

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Scope of the Report

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Report Metric Details
Market size available for years 2018–2027
Base year considered 2021
Forecast period 2022–2027
Forecast units Value (USD Million) and Volume (Thousand Units)
Segments covered By Component, By Type, By Application, By Region
Geographies covered Asia Pacific, Europe, North America and Rest of World
Companies covered The key players operating in the head-up display market are Nippon Seiki (Japan), Continental (Germany), Visteon (US), Denso (Japan), Bosch (Germany), Pioneer (Japan), BAE Systems (UK), and Yazaki Corporation (Japan).

Browse in-depth TOC on “ Head-up Display Market”

154 – Tables
68 – Figures
221 – Pages

Nippon Seiki holds a strong product portfolio in the head-up display market. The company estimates that its order intake will be twice the existing capacity by 2030 as the company is focusing on increasing its production capacity by constructing a new facility. The company has an R&D center in Japan and 28 manufacturing plants spread across the globe. It has a strong foothold in 12 countries in Asia, the Americas, and Europe and subsidiaries in China, Japan, the US, and Brazil. The company also focuses on environmental aspects by working on reducing power consumption.

Continental is among the key players in the head-up display market. With its constant innovations, quality products, and excellent customer service, the company is one of the leading HUD providers across the globe. The company gives importance to technological equilibrium with the combination of established solutions and pioneering technologies. It is focusing on the interior business, which includes HUDs, and is increasing the capacity of the division.

Bosch has been working closely on environmental techniques. Bosch, with its more than 400 locations, has been carbon neutral since February 2020. The company has achieved this goal way ahead of schedule and has also made significant investments for combating climate change. Bosch has been increasing its R&D workforce year on year. For example, 72,000 R&D associates worked across the globe in 126 locations in 2019; in 2020, this number increased to 73,000 in 129 locations.

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Opportunity: Growing demand for semi-autonomous and electric vehicles

The global demand for semi-autonomous and electric vehicles has increased significantly in the last few years. The increased adoption of these vehicles is accelerating the demand for head-up displays. Semi-autonomous vehicles can sense their environment and navigate to the destination with the partial interference of humans. They can be operated through voice commands. These vehicles are primarily used to provide enhanced safety and convenience to drivers. Semi-autonomous vehicles are equipped with advanced functions such as park assistance, forward collision avoidance, and advanced cruise control. The head-up displays deployed in semi-autonomous vehicles display these features on windshields in the line of sight of drivers.

Challenge: Availability of laser-based volumetric displays as alternatives to head-up displays

Laser-based volumetric displays are key substitutes for head-up displays. Volumetric head-up displays represent information in a volumetric aspect. With the help of lasers, images are projected on windshields to give the illusion of depth. During the night and harsh driving conditions such as fog, low-light vision, and heavy rains, laser-based volumetric displays ensure enhanced safety and traveling information to drivers. In the automotive industry, volumetric head-up displays use laser rays to display images on windshields. In the aviation sector, volumetric displays play an important role in air traffic control.

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Recent Developments

  • In January 2022, Panasonic unveiled the AR-HUD 2.0, the first product to include a new patented eye-tracking system (ETS), enhancing the AR experience. This HUD also includes AI-powered navigation software with 3D AR overlays, icons, and mappings.
  • In January 2022, Visteon delivers a high-quality intelligent cockpit experience for conventional and electric vehicles. This includes artificial intelligence-based speech recognition and camera domain integration.
  • In October 2021, BAE systems delivers 1.6-megapixel hawk eye sensor is a major development for targeting and surveillance applications optimally used for battery-powered soldier systems. It has high-performance imaging capabilities in all lighting conditions.

Related Reports:

Augmented Reality and Virtual Reality Market by Technology Type (AR: Markerless, Marker-base; VR: Non-Immersive, Semi-immersive and Fully Immersive Technology), Device Type, Offering, Application, Enterprise, and Geography – Global Forecast to 2027

Virtual Reality Market by Offering (Hardware and Software), Technology, Device Type (Head-Mounted Display, Gesture-Tracking Device), Application (Consumer, Commercial, Enterprise, Healthcare) and Geography – Global Forecast to 2025


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Artificial Intelligence

ZA Tech Rebrands as Peak3, Raises US$35M Series A led by EQT

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SINGAPORE, June 19, 2024 /PRNewswire/ — ZA Tech, the next-generation insurance core system SaaS provider, has rebranded as Peak3. With the successful completion of its US$35 million Series A fundraising from EQT (lead investor) and Alpha JWC Ventures, Peak3 now accelerates its expansion in the EMEA region and investments in complementary data and AI solutions.

In a market dominated by fragmented legacy technology, Peak3 has pioneered a cloud-native, modular insurance core and distribution system that combines comprehensive capabilities for life, health, and property and casualty (P&C) insurance. Since its founding in 2018, Peak3 has become a trusted technology partner to global insurers such as AIA, Generali, Prudential, and Zurich for their digital and traditional business. It has also partnered with leading digital platforms such as Carro, Grab, Klook, and PayPay to build and scale their embedded insurance businesses.
Besides the successful fundraising, Peak3 has recently achieved key milestones underpinning the rebranding. These transformative achievements include launching its first multi-country, multi-tenant core modernisation in Europe, rolling out an integrated customer data and big data platform for scaling analytics and AI capabilities, and establishing its first technology centre in Europe. The rebranding coincides with another major milestone: Issuing over a billion insurance policies on Peak3’s systems – including the first policies issued to North American customers and the first ones to be issued in Africa.
“We have evolved from an embedded insurance pioneer in Asia to a global end-to-end technology partner for the insurance industry,” said Bill Song, Peak3 Group CEO and Co-Founder. “Our new name represents three pinnacles: scaling the heights of innovation, surpassing performance limits, and delivering superior reliability – as we help insurers reach the highest summits of their cloud, data, and AI transformation.”
Bill Song also emphasised the growth opportunity: “There is an incredible tech investment backlog in the US$7-trillion global insurance industry. Continued digitalisation and the proliferation of AI will require structural investments by insurers over the next decade to modernise their core systems. We are uniquely positioned to capture this opportunity by providing the tech core foundations and innovation use cases.” 
To accelerate its growth journey, Peak3 completed its Series A fundraising and welcomed two new investors on its cap table: EQT, a major global technology investor with a deep heritage in Europe, and Alpha JWC Ventures, a leading venture firm in Southeast Asia. With the funding, Peak3 will advance its analytics and AI capabilities toward an intelligent core insurance solution, grow its EMEA operations and establish new system integrator partnerships. Peak3 targets double-digit ARR growth this year and is on the path to reach cashflow breakeven over the coming quarters.
“Peak3 has also proven its capability to deliver greenfield digital insurance initiatives and complex multi-country core modernisation projects in APAC and EMEA. As the lead investor, EQT is committed to empowering Peak3 in its go-to-market acceleration by leveraging our global network,” stated Clara Ho, Partner at EQT.
J.P. Morgan acted as exclusive financial advisor to Peak3 for this Series A fundraising.
For media inquiries and interview requests, please contact Carling Sia, Global Head of Branding and Marketing, at [email protected].
For more information on Peak3, please visit www.peak3.com. For more information on EQT, please visit www.eqtgroup.com.For more information on Alpha JWC Ventures, please visit www.alphajwc.com.
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Artificial Intelligence

Lucinity Recognized as One of the Top 100 AI Fintech Companies Globally

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REYKJAVIK, Iceland, June 18, 2024 /PRNewswire/ — Lucinity has been featured in the AIFinTech100 list for 2024, marking its recognition as one of the top AI companies in the financial services industry. The AIFinTech100 list, curated by industry experts, highlights the most innovative fintech companies globally. Lucinity was selected from over 2,000 fintech firms for its problem-solving, market potential, innovation, and customer engagement. Earlier this year, Lucinity was also highlighted as a RegTech100 company.

 
 
This recognition comes amid rapid AI adoption in fintech. According to Fintech Global, research predicts the AI market in fintech will grow from $42.83 billion to $44.08 billion by 2024, reaching $50.87 billion by 2029. Banks alone are expected to spend $4.9 billion on AI platforms by 2024, with a 21.8% annual growth rate since 2019.
Lucinity’s inclusion in the AIFinTech100 list reflects its success in developing AI solutions that enhance efficiencies and cost savings for financial crime operations teams. Notably, Luci, the world’s first Generative AI copilot for financial crime investigations, launched in 2023, leverages Microsoft OpenAI technologies to augment human analysts’ capabilities, reducing investigation times from 3 hours to just 30 minutes. 
Lucinity also recently launched Luci as a copilot plugin at Money20/20. Financial institutions are now able to integrate Luci with any web-based enterprise application including CRM systems, Case Manager systems, and Excel, delivering immediate ROI with zero upfront integration. 
Security remains a significant challenge in AI adoption. Lucinity addresses this by partnering with Microsoft Azure develop a secure infrastructure. With a strong emphasis on compliance, Luci offers comprehensive auditability through its detailed Audit Log functionality.
Guðmundur Kristjánsson (GK), CEO of Lucinity, comments, “Being named in the AIFinTech100 showcases our impact amongst banks and fintech through advanced AI. It underscores our platform’s ability to empower compliance teams, deliver ROI, and reduce operational costs.”
Richard Sachar, Director of FinTech Global, added, “AI is revolutionizing financial services, increasing efficiencies and offering personalized products. This year’s AIFinTech100 list includes top innovators transforming the industry with AI applications.”
Lucinity’s inclusion in the AIFinTech100 list for 2024 follows several achievements, including winning the Microsoft Partner of the Year Awards for Sustainability and Social Impact and Partner of the Year – Iceland. Lucinity was also included in Chartis Research’s FinCrime and Compliance 50 Ranking for 2024 and was recognized as the best tool for Workflow Automation.
Name: Celina PabloEmail: [email protected] +354 792 4321
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Artificial Intelligence

CRISIL wins Model Validation Tools and Accelerators category award, other recognitions from Chartis

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Recognized among top 50 financial services firms for analytics and risk tech
MUMBAI, India, June 18, 2024 /PRNewswire/ — CRISIL, a global provider of advanced analytics and risk management solutions, has won the Solution Category award for Model Validation Tools and Accelerators as part of the latest Chartis STORM 2024 report.

Published by Chartis Research, the leading provider of research and analysis on the global market for risk technology, STORM 2024 is an annual report on quantitative technologies and the computational infrastructure supporting it.
Following an extensive evaluation process, which included a risk technology survey, product demo, customer reference checks, and third-party sources of information, CRISIL won the following recognitions:
Solution category award for Model Validation Tools and AcceleratorsRanked Top 25 (#24) in QuantTech50 2024 rankingsRanked Top 25 (#24) in BuySideRisk50 2024 rankingsRanked Top 50 (#38) in RetailFinanceAnalytics50 2024 rankingsThe recognitions reflect the unparalleled value CRISIL brings to its clients through deep domain expertise, specialized analytical and technical knowledge and our global perspective.
Says Jan Larsen, President and Head, CRISIL Global Research & Risk Solutions, “CRISIL is honored by the recognition across multiple STORM50 award categories this year, including being named first place for Model Validation Tools and Accelerators. This is a great testament to the contributions of our team in giving clients and their regulators confidence in the models they use for making critical decisions.”
The core tenets of CRISIL’s value proposition include expertise across asset classes and risk stripes, analytical excellence and regulatory experience, tailored solutions focused on client delight, continuous improvement and technological innovation. 
Says Ashish Vora, President, CRISIL Market Intelligence and Analytics, “This prestigious recognition underscores the global acceptance of our risk management solutions and highlights our unwavering commitment to excellence in the risk technology space. Our Credit+ technology solutions have been instrumental in offering AI-enabled advanced analytics and driving efficiency, and we are particularly proud of the exceptional client feedback we have received for these solutions. We are constantly exploring new ways to enhance customer value and are investing in cutting-edge technology and domain expertise to maintain our position at the forefront of the industry.”
Notable examples of CRISIL’s platforms that help demonstrate this value proposition include: 
Model Infinity: A leading platform for model inventory management and model risk management. This innovative platform empowers our client to centralize all model activities, eliminates manual processes and operational risk, and provides a full audit trail of approvals for modeling assumptions and updates. Scenario Expansion Manager (SEM): A platform for clients to expand, analyze and track all regulatory and internal scenarios used for stress testing. As a centralized repository of scenarios, SEM allows institutions to eliminate redundant internal work and even provide clients the ability to share internal scenarios with one another. Credit+ ICON: The platform enables credit decision-making through its extensive financial spreading and front-end based credit risk scorecard hosting capabilities. Powered by deep domain expertise, AI-driven analytics and extensive configurability, it serves 40+ global clients across 15 countries.Credit+ Early Warning Signals: The AI-powered solution provides banks with actionable insights to monitor their credit quality, lower loan-loss contingencies and track corrective action plan.About CRISIL Market Intelligence & Analytics
About Global Research & Risk Solutions
About CRISIL Limited
Connect with us: LINKEDIN | TWITTER | YOUTUBE | FACEBOOK 
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Disclaimer
This press release is transmitted to you for the sole purpose of dissemination through your newspaper/ magazine/ agency. The press release may be used by you in full or in part without changing the meaning or context thereof but with due credit to CRISIL. However, CRISIL alone has the sole right of distribution of its press releases for consideration or otherwise through any media including websites, portals, etc.
CRISIL has taken due care and caution in preparing this press release. Information has been obtained by CRISIL from sources which it considers reliable. However, CRISIL does not guarantee the accuracy, adequacy or completeness of information on which this press release is based and is not responsible for any errors or omissions or for the results obtained from the use of this press release. CRISIL, especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this press release.
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