Automotive Smart Display Market Growth & Trends
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.
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Automotive Smart Display Market Report
Automotive Smart Display Market Report Highlights
- In terms of display size, the greater than 10" size segment is expected to register the highest CAGR of 9.2% from 2021 to 2028 owing to the increase in the number of semi-autonomous, autonomous, and electric cars
- Based on display technology, the TFT-LCD segment dominated the market in 2020 and is anticipated to maintain its lead the forecast period
- By application, the center stack segment accounted for the largest revenue share of over 40.0% in 2020. Technological developments in self-driving and connected cars are expected to propel the demand for center stack displays in vehicles
- Asia Pacific accounted for the largest revenue share in 2020. This is attributed to increased production and sales of passenger vehicles in the region
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:
Automotive Smart Display Size Outlook (Revenue, USD Billion, 2016–2028)
- Less than 5'’
- 5'’- 10'’
- Greater than 10'’
Automotive Smart Display Technology Outlook (Revenue, USD Billion, 2016–2028)
- LCD
- TFT-LCD
- OLED
- Others
Automotive Smart Display Application Outlook (Revenue, USD Billion, 2016–2028)
- Digital Instrument Cluster
- Center Stack
- Head-up Display (HUD)
- Rear Seat Entertainment
List of Key Players of Automotive Smart Display Market
- 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
