In order to elevate the driver experience and avail better
assistance to the driver, a set of devices is installed in
vehicles, providing the information required while driving,
including navigation systems. This is commonly referred to as
automotive display systems, which can offer an elevated consumer
experience.
WILMINGTON, Del., July 18,
2024 /PRNewswire/ -- The projected advancement of the
automotive display system market is set to reach
USD 29.7 billion by 2031.
The last recorded valuation of the ecosystem was measured at
USD 15.3 billion in 2022. Owing to
the poised development of the competitive landscape through the
forecast period at a CAGR of 7.7%, key players in the industry are
likely to experience lucrative prospects.
Owing to the rising electric vehicle segment, the demand for
vehicular displays and other assisting systems is likely to
increase. With the growing demand for driver assisting systems in
such vehicles, the scope for such displays is likely to
enhance.
The development of autonomous driving vehicles is expected to
augment the competitive landscape of automotive displays.
Transportation solutions have observed a significant shift toward
better services, including enhanced driver safety. Owing to such
trends in the automobile industry, growth opportunities for the
ecosystem are expected to increase.
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The connectivity of automobiles with different gadgets,
including smartphones and other devices, is set to be a pivotal
factor in terms of accelerating the growth of the competitive
landscape. Navigation systems are gaining momentum in the
automotive segment. Owing to the rising integration of such systems
in vehicles, leading manufacturers are integrating displays for
better consumer comfort. This factor is another crucial industry
driver. To enhance the accessibility and usability of the
technology, key players in the ecosystem have been innovating and
integrating features like voice assistance in systems. Such
innovations are augmenting the size of the competitive space.
The focus on the enhancement of infotainment systems is expected
to shape the future of the said sector. The regulatory landscape is
another pivotal factor, which supports the growth of the industry.
Owing to the growing disposable income levels of individuals, the
preference for premium and luxury models is observed to have
increased. Consumers choose high-end models, which are equipped
with advanced technology. This trend is driving the demand for
digital displays in vehicles, driving the ecosystem.
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Analyst Insights: Driving Trends in the Automotive Display
Market
The compounded annual growth rate of 7% till 2034 for the global
automotive display market can be attributed to growing consumer
preferences for connected vehicles and technologically advanced
in-vehicle systems such as infotainment systems, and others.
Increasing demand for automotive displays in major car-producing
countries in Asia Pacific created
revenue of USD 15 Bn in 2023 for the
global automotive displays market.
Consumers prefer new display technology including OLED and
AMOLED displays owing to better color contrast and versatility.
Adoption of display systems is higher in luxury/ premium vehicles
and since 2020 the production of luxury vehicles has increased at
Y-o-Y of 5%. Earlier, luxury car manufacturers including BMW,
Lexus, and Audi, have integrated technologically advanced large
display systems in their vehicles. However, the trend of large-size
displays is normalized in mid-range vehicles as well increasing the
average size of the display in 2024 to 8.4 inches, a sudden
increase of 16.7% from 2018.
Major automotive manufacturing hub such as China, the U. S., Germany, and Japan has a presence of many display
manufacturers leading to low bargaining power of suppliers.
However, product differentiation through improved performance and
increased features could be advantageous to cater to growing
demand. In January 2024, LG display
introduced switchable privacy mode (SPM), which enables adjustment
of display viewing sight away from the driver's line of sight while
allowing front passenger access to content and ensuring the
driver's alertness to avoid any fatal accidents.
Key Findings from the Market Report
- The ecosystem of the automotive display system market is
segmented based on various significant parameters. Based on the
display technology segment, the TFT-LCD display category is set to
drive the sector due to the widened applicability of displays.
- Based on the size of the display, 6" to 10" size displays are
likely to gain momentum due to the affordability of displays.
- Owing to the rising demand for high-resolution visuals,
high-definition (HD) displays are likely to govern the growth of
the sector.
- Based on the vehicle type segment, passenger vehicles are
likely to propel the growth of the ecosystem.
Regional Profile
- Owing to the technological infrastructure in North America, various prospects for key
players in the automotive display system industry are created. This
drives the size of the sector in the country.
- The evolution of the automobile industry in Europe is expected to drive the size of the
competitive landscape in the country. Leading organizations can use
the opportunity to penetrate into the said industry segment.
- Owing to the growing preference for premium and luxury vehicles
in Asia-Pacific is another factor
augmenting the size of the competitive landscape. Such a key factor
drives the growth of the market.
Automotive Display Market Report Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2023-2031
|
Base
Year
|
2017-2021
|
Size in 2022
|
US$ 15.3 Bn
|
Forecast (Value) in
2031
|
US$ 29.7 Bn
|
Growth Rate
(CAGR)
|
7.7 %
|
No. of
Pages
|
190
Pages
|
Segments
covered
|
By Display Technology,
By Display Size, By Display Resolution, By Application, By Vehicle
Type, By Sales Channel
|
Competitive Landscape
Leading players in the automotive display system market expand
using many key strategies, including mergers, acquisitions,
collaborations, and partnerships. New entrants, on the other hand,
expand using strategic alliances, innovations, and
differentiation.
- Robert Bosch GmbH is a key player offering several products
like e-bikes, auto services, mobility products, and many more.
- Continental AG is another important player operating in
verticals like ContiTech, Automotive, and Tires.
- Denso Corporation offers solutions for thermal management, air
conditioning, power-train systems, and many more.
Key Players
- Robert Bosch GmbH
- Continental AG
- Denso Corporation
- Alpine Electronic, Inc.
- Aptiv
- Valeo
- LG Display Co., Ltd.
- Panasonic Corporation
- Nippon Seiki Co., Ltd.
- AU Optronics Corp.
- Visteon Corporation
- YAZAKI Corporation
- Magna International Inc.
- Pioneer Corporation
- Other Key Players
Key Developments in the Automotive Display System
Market
- In March 2024, Robert Bosch GmbH
expanded the vehicle functionality by integrating cloud computing
technology.
- In July 2024, Continental AG
partnered with DT Swiss and Swiss Side to innovate tires for
vehicles.
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Market Segmentation
Display Technology
- LCD
- TFT-LCD
- OLED
- Digital Lighting Processing (DLP)
- Plasma Panels
Display Size
- Less than 5"
- Between 6" to 10"
- Greater than 10"
Display Resolution
- Standard Definition (SD)
- High Definition (HD)
- Ultra-High Definition (UHD)
Application
- Exterior Display
- Side Mirror Display
- Vehicle Signage/ Display Boards
- Pixelated Lights for Exterior Lighting
- Interior Display
- Head-up Display (HUD)
- Center Stack Display
- Rear Seat Entertainment Display
- Rear View Mirror Display
- Instrument Cluster
Vehicle Type
- Passenger Vehicle
- Hatchback
- Sedan
- Utility Vehicle
- Light Commercial Vehicle
- Buses & Coaches
- Trucks
Sales Channel
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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