Oct 15, 2020
COVID-19 Impact on Automotive Hud in Automotive Industry
- Oct 15, 2020
COVID-19 Impact on Automotive Hud in Automotive Industry
COVID-19 is a pandemic disease which has created a severe outbreak in the world starting from China to almost in every country. It has major impact almost on everything including human life, world economy, automotive sector, industrial sector and others as a result demand and consumption rate gets lowered.
Unavailability of vaccine to cure or prevent the disease from spreading is major reason due to which lockdown has been initiated for prevention and to lower the COVID-19 spread. To control the disease spread, lockdown is so far is considered to be the better solution observed in the many countries but it also harms the economy. The lockdown impacted the manufacturing industry, operation plants, ports and others locations as all facilities are closed which is a reason behind the slow market growth. Due to low operational machinery and low staff demand for the supply for automotive HUB has been stopped.
Although, permission provided by the governments to run facility with certain safety measures created opportunity for the market to support the manufacturing plant operations and to resume the tasks and improving production efficiency the automotive HUB market is witnessing rising demand to meet the increased production target with limited resources is difficult task for manufactures to ease operations for better productivity. Expanding utilizes of virtual reality displays and Google glasses in numerous segments have made automobiles companies to come up with modern developments. The unused innovation of AR-VR in HUD has come up with a better approach of utilizing GPS, unlike some a long time back, when a turn was missed whereas utilizing GPS or the roadway was missed due to utilizing and setting the radio in car.
HUD introduced on car show appears data or information in such a way that the client doesn’t get diverted and lose the center of their current errand. This includes HUD in car show makes difference dodge mischances, and it has brought security, consolation, and excitement for clients. They moreover give a few other benefits. The need of intrigued by OEMs in contributing to progressed technologies for the next one or two years will be a major difficulty for automotive HUD manufacturers, and the automotive HUD market is evaluated to witness a dip.
IMPACT ON THE MANUFACTURING INDUSTRY AND GOVERNMENT INITIATIVE TO BOOST THE MARKET
COVID-19 created a major impact on the manufacturing industry as almost every country has initiated the shutdown of production facilities in the first half-year which are not producing the essential goods. To prevent the spread of novel coronavirus disease, the government implemented some strict actions in the first half such as the shutdown of production and sale of non-essential goods, blocked international trade, and others. The only business which is dealing with the essential services is allowed to open and run the processes. Companies such as pharmaceutical, chemical and others allowed operating the facilities with certain safety rules and to increase production capabilities. Now at the current period where almost half a year is ended government is taking the initiative to support the economy by allowing the manufacturing operations by following physical distancing practices. The manufacturing facilities are getting started now with a limited workforce creating major demand for the market. The slowdown of the automotive industry is acting as a challenge for the global automotive HUB market.
STRATEGIC DECISIONS FOR MARKET PLAYERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE
There is a positive and negative impact of the COVID-19 disease on the market as it lowered its demand and at the same created opportunity to increase its services for enhancing the plant performance. Several strategies can help the market players to increase their presence and market share in the industry. Major automotive HUD manufacturers such as Bosch, Continental, Panasonic, Denso, Nippon Seiki, Garmin, and LG Show have reported either suspension of production or adjustment of generation due to the diminished demand and supply chain bottlenecks and to guarantee the safety of their employees in China, Europe, and North America amid the COVID-19 widespread.
COVID-19 has constrained continental to put a brake on its operations. As of April 2020, the increased outbreak of the infection has constrained the company to briefly cease production in more than 40% of its 249 production areas over the world.
In April 2020, Visteon has taken conclusive activities to oversee costs and protect liquidity, counting compelling taken a toll administration due to the COVID-19 widespread. The company has briefly suspended or decreased generation at certain offices within the Americas, Europe, and most of Asia exterior of China in reaction to government prerequisites and lower request for components due to generation suspension by major OEMs. The company proposed a rebuilding arrange in January 2020 to diminish the number of workers at different destinations to lower its cost base and improve budgetary performance.
IMPACT ON DEMAND AND SUPPLY CHAIN
The COVID-19 pandemic has been posing measurable impacts on the global economy. Owing to quarantine situation, traveling constraints and social distancing measures on a broad-scale drive a steep decline in business and consumer spending. The COVID-19 pandemic has decelerated the development of the automotive HUD market. Lower vehicle deals are likely to weaken the demand for vehicle and passenger security features. Across the globe lockdowns and suspension of major trade exercises by OEMs have postponed the testing of semi-autonomous driving systems and progressed security features.
The demand for automotive HUB for the automotive purpose expected to improve gradually due to the plants in china resumed their production from March. Companies that need resources to connect remote workstations to employees, businesses that urgently need to go online to work with consumers or retailers, and delivery services. So the above reasons are directly impacting the demand for the automotive HUB market in a positive way.
COVID-19 is the unpredictable event that finally forces many industries and companies to re-think and transform their supply chain models. Due to the lockdowns, companies are facing severe problems for raw materials or finished product transport which is directly impacting the growth of the company to overcome this situation, companies must closely monitor long-term and short-term demand and maintain inventory to reduce production loss in the economic slowdown situation.
Automotive HUD manufacturers are facing disruptions in supply chains as major countries are in a state of lockdown to prevent the spread of the disease. Thus, the market for automotive HUDs is projected to undergo a phase of decline in 2020.
The pandemic situation created by COVID-19 has a major impact on the automotive HUB market as it lowered its demand and sale owing to the shutdown of manufacturing facilities until the first half of the year 2020. The strategic decisions such as close touch with our suppliers to monitor the supply chain and working closely with their component suppliers and monitoring the demand by the key players are opening lucrative opportunities for the market. Anticipating a significant fall in automotive production ahead of the COVID-19 pandemic is the major challenge for the market. After lowering the lockdown and by providing permission for the production facilities to run the operations market is supposed to gain strong growth.