Globally, the automotive display market is expected to grow from USD 11 billion in 2017 to USD 23 billion by 2023, at a CAGR of 13% during the forecast period. Increasing demand for connected vehicles, increasing dependency of navigations systems, and increasing demand for infotainment in automobile are some major factors which are expected to drive the market during forecast period. Growing in-vehicle safety and comfort also contributed to the growth of automotive display applications. However, high cost of advanced automotive display systems and safety concerns related to replacement of mechanical controls with touch screen display is expected to restrain the market growth during the forecast period.
The automotive display is a touch screen display device that provides distraction free access to navigation, driver safety features, and multimedia function for vehicles including engine heat indicators, and tire pressure among others. Panasonic Corporation is one of the major manufacturers of automotive display. Company provides solutions such as head-up for safety, entertainment and connectivity, and battery innovations and services such as audio services, autonomous services, connectivity services, electronic components, EV HEV energy, infotainment, and vision & sensing. Further, in February 2018, Panasonic corporation partnered with Trend Micro to develop cyber security solution for connected cars. This partnership is aimed to control driving behavior such as steering and breaking, acceleration, and in-vehicle infotainment. This overall development enables provision of solution including in-vehicle and cloud systems for cyber-attacks against autonomous and connected cars.
Global Automotive Display Market
Source: MRFR Analysis
The global automotive display industry is segmented into type, technology, display size, applications and region.
By type, the market is segmented into rear seat entertainment touchscreen display, center stack touchscreen display, advanced instrument cluster display, and others.
By technology, the market is segmented into TFT LCD, PMOLED, PMLCD, AMOLED, and others.
By display size, the market is segmented into 3”-5”, 6”-10”, and >10”.
By applications, the market is segmented telematics, infotainment, navigation, others.
By region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
The global market for automotive display is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of global automotive display market is studied for North America, Europe, Asia-Pacific, and the rest of the world.
Europe is expected to dominate the global In-Vehicle display market during the forecast period. Germany, the UK, and France are expected to dominate the automotive display solution market in Europe. Large number of car manufacturers such as Audi, BMW, Porche, Lamborgini are expected to drive the display market in Europe.
Asia-Pacific is expected to grow at faster rate during forecast period. Japan, China, and South Korea are expected to dominate the automotive display solutions market during forecast period. Presence of telecommunication industries such as Huawei, China Telecom., and Bharti Airtel drives the automotive display market in Asia-Pacific.
According to the latest trend in the automotive display market, most enterprises are expanding their technological capabilities to adopt different IoT solutions and better automatic display operations. Most of the companies have adopted inorganic strategies to expand their businesses, where partnership and collaboration accounted for significant market share, whereas merger & acquisition accounted for the overall key development undergone by the key players in the market.
The key players in the automotive display Industry are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – LG Display Co. Ltd (South Korea), Panasonic Corporation (Japan), Delphi Technologies (UK), Robert Bosch GmbH (Germany), Visteon Corporation (US), Continental AG (Germany), 3M Company (US), Nippon Seiki Co. Ltd (Japan), Magneti Marelli S.p.A (Italy), and Qualcomm Technologies Inc (US) These players contribute a major share in the growth of automotive display market.
Apart from the top key players, there are other players that contribute to the market growth. These include Denso Corporation (Japan), Synaptics Incorporated (US), and Nidec Corporation (Japan), among others.
|Market Size||2023: USD 23 Billion|
|CAGR||13% CAGR (2020-2027)|
|Historical Data||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Applications, Type, Display Size|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||LG Display Co. Ltd (South Korea), Panasonic Corporation (Japan), Delphi Technologies (UK), Robert Bosch GmbH (Germany), Visteon Corporation (US), Continental AG (Germany), 3M Company (US), Nippon Seiki Co. Ltd (Japan), Magneti Marelli S.p.A (Italy), and Qualcomm Technologies Inc (US)|
|Key Market Opportunities||
|Key Market Drivers||Growing in-vehicle safety and comfort|
Frequently Asked Questions (FAQ) :
The global automotive display market is poised to record a market value of USD 23 Billion by 2023.
The global automotive display market is maturing at a whopping 13% CAGR over the review period of 2017 to 2023.
A few significant players of the global automotive display market are Nippon Seiki Co. Ltd (Japan), Magneti Marelli S.p.A (Italy), and Qualcomm Technologies Inc (US), among others.
The navigation segment is expected to drive market growth over the review period.
The center stack touchscreen display segment is likely to witness the highest demand in the automotive display market.