Automotive Smart Display Market Is Expected To Expand At A CAGR Of 6.2% From 2021 To 2028

Automotive Smart Display Industry Overview

The global automotive smart display market size is expected to reach USD 16.98 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.2% from 2021 to 2028. The growing demand for advanced safety features, automotive and cockpit electronics, and semi-autonomous and autonomous vehicles is expected to drive the market. The increasing demand for improved in-vehicle experience and the changing consumer buying behavior, along with the growth of luxury, premium, and high-end cars worldwide, are also expected to fuel the market demand over the forecast period.

The surge in demand for vehicle navigation and connectivity system in the automotive sector led to a growth in the usage of automotive visualization technology. The visualization technology has played a significant role in the advancement of the cockpit technology, which has led to the incorporation of interactive and smart displays in several vehicles launched by prominent automakers, such as Jaguar Land Rover, Mercedes-Benz, Volkswagen, Audi, and BMW. Moreover, the technology is gaining prominence among automotive display suppliers with an uptick in demand for automotive in-vehicle infotainment solutions as well as display solutions. An increase in the sales of passenger vehicles equipped with smart displays and in-vehicle infotainment systems, coupled with features such as navigation, driver assistance, and real-time traffic monitoring, is expected to bolster the market growth over the forecast period.

Asia Pacific held the largest share in 2020 owing to the presence of several key players, such as Panasonic Corporation (Japan), Yazaki (Japan), and Nippon Seiki (Japan) in the region. The region is characterized by the presence of developed nations such as Japan and South Korea, along with emerging economies such as China and India. In recent years, the region has emerged as a hub for automobile production.

Automotive Smart Display Market Segmentation

Grand View Research has segmented the global automotive smart display market on the basis of display size, display technology, application, and region:

Based on the Size Insights, the market is segmented into Less than 5”, 5”- 10”, and Greater than 10”.

• The 5”-10″ display size segment accounted for the largest revenue share of 46.7% in 2020. 5”-10″ smart displays are used for applications, such as advanced instrument clusters, center stack touchscreen displays, and rear-seat entertainment touchscreen units.

• The greater than 10” smart display segment is projected to register the fastest CAGR of 9.2% from 2021 to 2028. The segment is majorly driven by applications in electric vehicles, premium cars, and semi-autonomous and autonomous cars. An increase in the demand for semi-autonomous, autonomous, and electric vehicles is expected to drive the demand for larger than 10″ smart displays.

Based on the Technology Insights, the market is segmented into LCD, TFT-LCD, OLED, and Others.

• The TFT-LCD display segment accounted for the largest share of 53.4% in 2020. LCD and TFT-LCDs are commonly used in display applications as they meet the durability and temperature standards. Depending on the range of temperature required and the function of the display, manufacturers use a combination of TFT and LCD in a vehicle.
• The OLED display segment is expected to register the fastest CAGR of 10.3% from 2021 to 2028. Passenger cars with OLED displays are being showcased at various automotive exhibitions, however, the penetration rate is low compared to the LCDs in the consumer models.

Based on the Application Insights, the market is segmented into Digital Instrument Cluster, Center Stack, Head-up Display (HUD), and Rear Seat Entertainment.

• The center stack display segment accounted for the largest share of over 40.0% in 2020. Center stack displays are infotainment systems that offer a range of interactive features, such as navigation, music, cabin temperature controls, and other information. Advancements in the field of self-driving and connected cars are expected to propel the demand for center stack displays in vehicles.

• The Head-up Display (HUD) segment is projected to register the fastest CAGR of 8.7% over the forecast period. HUD is a transparent display that provides information in the driver’s line of sight without the need to look away from the road. 

Automotive Smart Display Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

Key players offer a wide range of automotive smart display components, such as digital instrument cluster, digital cockpit system, center stack display, rear-seat entertainment system, and head-up display unit for passenger cars and commercial vehicles. The companies are focusing on providing technologically driven and advanced products to enhance their product offerings in the market. Companies are undertaking strategic initiatives such as regional expansions, acquisitions, mergers, partnerships, and collaborations to grow in the market.

Moreover, these players are consolidating their market shares by undertaking M&A activities. For instance, in October 2020, Hyundai Mobis announced a strategic investment in Envisics, a provider of Augmented Reality Head-up Display (AR HUD). Hyundai Mobis and Envisics are expected to develop autonomous driving specialized AR HUD, targeting mass production by the year 2025. In May 2018, Continental AG increased its investment in DigiLens Inc. The latter company is a provider of holographic waveguide projection technology. DigiLens Inc.’s holographic waveguide technology would enable the use of head-up displays for applications in automotive displays. Some prominent players in the global automotive smart display market include:

• Alps Alpine Co., Ltd.
• Continental AG
• Denso Corporation
• Hyundai Mobis
• Nippon Seiki Co., Ltd.
• Panasonic Corporation
• Pioneer Corporation
• Robert Bosch GmbH
• SAMSUNG (HARMAN International)
• Visteon Corporation

Order a free sample PDF of the Automotive Smart Display Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter