With 8.80% CAGR, Automotive Smart Display Market Size Worth USD 53.71 Billion by 2028 By Brandessence Market Research
LONDON, Oct. 10, 2022 /PRNewswire/ -- Global Automotive Smart Display Market size is valued at USD 7.8 Billion in 2021 and expected to reach USD 14.07 Billion by 2028 with the CAGR of 8.80% over the forecast period.
Automotive Smart Display Market Scope
The global Automotive Smart Display Market is going to see a great growth in the world in the coming years and it has been seeing great growth in the last few years. The increase in the demand for the advanced functions which include the navigation, driver assistance, multimedia, and the connected car features as well as the improvement in the driver-vehicle communication and that is going to boost the use of the smart display in the automotive sector.
Moreover, the growth in the demand for the enhanced comfort, safety and the convenience in the automobiles particularly in the developing as well as the mature economies is going to propel the growth of the market in the coming years. The rising demand for the autonomous as well as semi-autonomous vehicles technology as well as growth of the high-end as well as luxury car segments particularly in emerging markets will be offering the growth avenues for this market in the coming years.
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Automotive Smart Display Market: Competitive Analysis
Some of the major Automotive Smart Display Companies are Alps Alpine Co., Ltd., Continental AG, Denso Corporation, Hyundai Mobis, Nippon Seiki Co., Ltd., Panasonic Corporation, Pioneer Corporation, Robert Bosch GmbH, SAMSUNG (HARMAN International) and Visteon Corporation. The companies are trying to capitalize on the growth of the automobile sector and offer solutions that have not yet been offered by the companies in the world.
List of Key Players Mentioned in the Report:
- Continental AG
- Magna International
- LG Display Co. Ltd.
- Valeo SA
- Delphi Automotive PLC
- Kyocera Corporation
- Yazaki Corporation
- AU Optronics
- Japan Display Inc.
- Alpine Electronics
- other
Automotive Smart Display Market: Key Drivers
Automotive Smart Display Size is going to grow due to the use of the smart displays for the automotive applications which will show growth at the rapid pace. This is a market which relies on the demand and the trends in automobile industries, which is going to progress into the development of the autonomous vehicles, technology advancements in the cockpit electronics as well as the preferences of the buyers. Furthermore, the smart displays are playing a major role in the making of critical driver assistance functions available on a single platform with touch screen.
Automotive Smart Display Market: Segmentation Analysis
In terms of segmentation, the TFT-LCD display segment has been seeing the greatest share of the market in the last few years. The TFT-LCD are majorly used in the display applications as it meets the temperature standards and durability. Depending on the temperature range required and the function of display, many manufacturers are using a combination of the LCD and TFT in the vehicle.
A basic center stack, instrument cluster touchscreen display and a rear-seat entertainment display are equipped with the LCD panels. The advanced applications are also equipped with the TFT-LCD due to their enhanced visual quality.
The segment of the center stack display has been accounting for the largest share of the revenue. They are the infotainment systems which offer a major range of the interactive features like the music, navigation, cabin temperature controls among other information. There are advancements in the field of self-drive and the connected cars which are going to propel the demand for the displays in the vehicles. Further, there are many vehicle companies which are offering the solutions in the economical and mid-segment vehicle.
By Type
- Advanced Instrument Cluster Display
- Center Stack Touchscreen Display
- Rear Seat Entertainment Touchscreen Display
- Others
By Display Size
- 3"-5"
- 6"-10"
- >10"
By Display Technology
- Liquid Crystal Display (LCD)
- Thin-film Transistor Liquid Crystal Display (TFT-LCD)
- Other Advanced Technologies
By Autonomous Driving
- Conventional Vehicles
- Semi-autonomous Vehicles
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Automotive Smart Display Market: Key Trends
There are technologies like the gesture control systems, advanced systems for infotainment, the head-up displays, central controllers and the telematics along with steering-mounted controls which are being used easily in the vehicles for the comfort, luxury as well as security benefits. The governments in many countries all over the world have implemented the regulations which pertain to the safety as well as security of vehicles. This is going to prompt the demand for the electronic devices which include the smart displays all over the world.
A major role is played by the in-vehicle infotainment systems and the electric components as the commuters, excursionists, mobile workers, and travelers use this feature. The trends of the cockpit and electronics technology help in enhancing the experiences of the drivers and passengers in the vehicles. Increasing number, size as well as quality of the display in cockpit electronics is going to create major avenues for the growth of the industry.
Moreover, there is an integration of the voice recognition, natural language processing and AI-enhanced agents that make an enhancement in the experience. The driver monitoring systems is one of the technologies which is now being chased by the companies all over the world.
The world economy is seeing the major setbacks because of the coronavirus led infection which had for a couple of years impacted the vehicle production massively. There is a disruption in the supply chains and there are many production facilities which are now coming to a major halt. The outbreak has been also impacting the sale of the commercial and passenger vehicles which impacts the demand for the smart displays significantly.
Automotive Smart Display Market: Regional Analysis
Automotive smart display market regional analysis shows that the Asia Pacific region has been accounting for the biggest share in the revenue in the last few years and it is going to witness the fastest growth level in the coming years. China has been accounting for close to half of the passenger vehicle sales in this region. This is a country which has seen a revolution in the market and is a leader in the sales and the production of the market. There are some major players present in the market however only a few of them so there are great growth opportunities still there in this market. Investors will be on the lookout in this market as there will be great demand in the coming years with product innovation.
Daimler, Honda, Jaguar Land Rover, BMW, Volkswagen and Nissan are leading the drive for the European market in the last few years. This is a region which is a major hub for the automotive companies and the major vehicle manufacturers. The production activity in this region has seen propelling by the investments which are made by the companies. There are many premium vehicle manufacturers in this region which have installed the advanced systems in this vehicle which has been driving the market.
On Special Requirement Automotive Smart Display Market Report is also available for below region:
North America
- U.S, Canada
Europe
- Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe
Asia-Pacific
- South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Latin America
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
- Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
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