The automotive display marketis growing rapidly. The market growth attributes to the augmenting demand forconnected vehicles and autonomous cars. Besides, the increasing dependency onnavigation systems and increasing demand for infotainment systems are somemajor factors driving the growth of the market. Moreover, the growing awarenessabout in-vehicle safety and comfort escalates market demand.
According to Market ResearchFuture (MRFR), the global automotive display market is anticipated to garnervaluations of approximately USD 23 BN by 2023, growing at 13% CAGR throughoutthe assessment period (2018-2023). In 2017, the market was valued at USD 11billion. The rapidly evolving automotive industry contributes to the growth ofautomotive applications, witnessing the increase in demand for displays.
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Additionally, the spreadingawareness for safety features among consumers results in an increasing numberof display set-ups inside vehicles. The growing demand for luxury andinnovation in-vehicle connectivity is some of the key driving forces behind themarket growth. Advancements in technology act as a major tailwind for thegrowth of the market.
Moreover, the growth ofsemi-autonomous autonomous vehicles and increasing usages of displays inthe automotive industry accelerate market growth. Automotive IVI systems havebecome increasingly sophisticated as the number of displays they incorporategrows, and panel choices grow too, moving beyond the widely used LVDS display.
On the other hand, the highcost of advanced automotive display systems and safety concerns related to thereplacement of mechanical controls with a touch screen are major factorsprojected to impede the market growth. Nevertheless, the increasing demand fordisplays to improve the consumer experience in vehicles to ensure safety wouldsupport the market increase throughout the review period.
GlobalAutomotive Display Market - Segments
The report is segmented intofive dynamics;
By Type : Rear Seat Entertainment TouchscreenDisplay, Center Stack Touchscreen Display, Advanced Instrument Cluster Display,and others.
By Technology : TFTLCD, PMOLED, AMOLED, PMLCD, and others.
By Applications : Telematics,Navigation, Infotainment, and others.
By Display Size :3”-5”, 6”-10”, 10.
By Regions : Americas, Europe, Asia Pacific, and the Rest-of-the-World.
GlobalAutomotive Display Market - Regional Analysis
Europe dominates theglobal automotivedisplay industry. The largest market share attributesto the augmenting demand for luxury or premium cars and SUV's equipped withautomotive display systems. Besides, the presence of a large number of carmanufacturers such as Audi, BMW, Porche, and Lamborghini drive the regionalmarket growth.
Germany, the UK, and France areexpected to dominate the automotive display solution market in Europe. TheEuropean in-vehicle display market is expected to retain its dominancethroughout the forecast period.
North America stands second inthe global automotivedisplay market trend. The market growth is driven by the stringentsafety norms and increasing awareness about the safety systems installed in anautomotive system. Additionally, the burgeoning automotive sector, heading withthe strong economy in the region, fosters the growth of the market.
The proliferation of autonomouscars in the region pushes the growth of the regional market. The adoption ofadvanced automotive technologies in mid-segment range cars impacts the regionalautomotivedisplay market growth positively. The North American automotivedisplay market is estimated to create a substantial revenue pocket during theassessment period.
The Asia Pacific automotivedisplay market has emerged as a profitable market globally. Factors such as therapid production of vehicles and the development in the automotivemanufacturing sectors in rapidly developing economies like South Korea, China,and India propel the regional market growth. Furthermore, low manufacturingcost and the availability of a cost-competitive workforce boost smart displaysin automotive applications.
India, China, and SoutheastAsian countries lead the regional market. The huge technological advancementsand the increasing number of OEM and aftermarket parts companies influence theregion's market growth. Moreover, the increasing number of displaymanufacturers that have recently shifted their bases in emerging APAC countriesprovide a huge impetus to market growth.
GlobalAutomotive Display Market - Competitive Analysis
Highly competitive, theautomotive display market appears to be fragmented due to the presence ofseveral well-established players. To gain a larger competitive share, playersincorporate strategic initiatives such as collaboration, acquisition,partnership, technology launch, and expansion.
Players leading the globalautomotive display market include Panasonic Corporation (Japan), LG Display Co.Ltd. (South Korea), Delphi Technologies (UK), Visteon Corporation (US), RobertBosch GmbH (Germany), Denso Corporation (Japan), 3M Company (US), ContinentalAG (Germany), Magneti Marelli S.p.A (Italy), Nippon Seiki Co. Ltd (Japan),Qualcomm Technologies Inc (US), Nidec Corporation (Japan), and SynapticsIncorporated (US), among others.
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