ID: MRFR/AM/2590-HCR | February 2021 | Region: Global | 110 pages
Automotive Smart Display Market Overview
From 2021 to 2028, the global automotive smart display market size is expected to grow at a CAGR of 6.2%.
The growing demand for advanced functions such as navigation, multimedia systems, driver assistance, and connected car features, as well as improving driver-to-vehicle communication, is expected to drive smart display adoption in the automotive industry. Over the forecast period, the rising need for improved safety, comfort, and convenience in vehicles, particularly in developing and mature economies, is expected to drive market expansion.
Increasing awareness of safety features among customers might be due to the rise of the worldwide smart automotive display market. Another important driver for the growth of the industry is a global rise in luxury and premium automobiles. Automobile intelligent displays can reduce accidents by removing distractions caused by looking for necessary details. Strom consumption is seen as a major problem restricting the growth of this industry, and cyber safety threats are calculable by car telematics, expensive display costs, and insufficient light. Intelligent displays are being used more quickly for automotive applications. The market relies on trends in demand in the automotive sector, advances in the development of independent cars, technological developments in cockpits, and customer preferences. In addition, clever displays play an important role in providing crucial driver support functions on a single touchscreen platform.
This study covers the whole automotive smart display growth, including its strengths and weaknesses. The research also includes a summary of the market’s dynamics, segmentation, major players, geographical analysis, and other significant variables. The study also includes a thorough analysis of the automotive smart display market outlook and forecast for 2027.
Covid 19 Analysis
The expensive cost of highly developed smart displays in some situations, as well as the threat of cybersecurity, are likely to stymie market expansion throughout the projection period. Furthermore, with the recent epidemic of Covid-19, customer spending on electronics and other non-essential products decreased, resulting in lower demand for voice-enabled smart displays. Smart display sales, on the other hand, are projected to resume normalcy in the second half of 2020.
Baidu, a Chinese internet company, stated that it is assisting those attempting to curb the latest coronavirus epidemic as part of Covid 19. Baidu provided some of the clever displays of Xiaodu to hospital staff in Wuhan, where the coronavirus started spreading, to keep them connected with their families. Baidu applies its AI technology to combat coronavirus in a less direct approach since the number of individuals who are affected with coronavirus continues to rise.
For passenger cars and commercial vehicles, key manufacturers provide a wide range of automotive smart display components, including digital instrument clusters, digital cockpit systems, center stack displays, rear-seat entertainment systems, and head-up display units. To improve their product offerings in the market, the firms are focused on delivering technologically driven and sophisticated items. To expand in the market, companies are pursuing strategic initiatives such as regional expansions, acquisitions, mergers, partnerships, and collaborations.
Automotive Smart Display Market Top Players
Smartphones that connect with infotainment systems like Android Auto, Spotify, and Apple CarPlay will drive up demand for smart displays in cars. Apple CarPlay and Android Auto are similar in that they both rely on smartphones to run operating systems that have been specifically designed for use on the road. The technologies allow for simple navigation, extensive feature integration with cockpit electronics, quick access to music, phone call management, and other functions without disturbing the driver.
The introduction of 5G technology, together with the growing usage of wireless technology, is projected to expand the market for vehicle smart displays. 5G provides high-speed internet, which aids in the integration of innovative applications such as virtual reality (VR), augmented reality (AR), cloud gaming, and media streaming into automotive smart display systems. These applications will necessitate higher-resolution display panels, increasing demand for vehicle smart displays.
The majority of contemporary automobiles include wireless technology components, which increases the danger of hacking. The rise in car connection via gadgets such as cellphones, music players, and tablets has also increased the cyber danger to the vehicle. Viruses and malware might target automobile electronics via vehicle entertainment systems or vehicle information terminals when carry-in devices are linked to the vehicle. Excessive connection raises the danger of being hacked.
The automotive smart display industry is somewhat consolidated, with a few big companies controlling a significant portion of the market. The combination of driver assistance systems and smart display systems aids a driver in maneuvering the car substantially. Many automakers are considering this combination since it aids in the improvement of safety. Integration of driver assistance systems with smart display systems, on the other hand, is not as simple as it appears.
The need for linked infotainment and smart displays is growing in the automobile industry. 75% of all passenger vehicles on the road are expected to be connected to the internet via a 3G/4G connection by the end of 2020. The market for automotive smart displays is expected to be worth USD 7.2 billion in 2020 and USD 10.9 billion by 2025. Increased demand for semi-autonomous and autonomous vehicles, as well as enhanced customer experience in vehicles and strong growth in the luxury and high-end automobile sectors, particularly in emerging economies, are driving the market. This category is driven mostly by electric vehicles, luxury vehicles, and semi-autonomous and independent automobile applications.
Market Research Future’s study on the global automatic smart display market trends includes comprehensive primary research. To obtain a deeper understanding of the market and industry performance, numerous industry experts and key opinion leaders conduct a comprehensive study of qualitative and quantitative factors. The report provides a detailed picture of the current market situation, including historical and projected market sizes in terms of value and volume, technical advancements, macroeconomic variables, and market regulating factors. The research offers extensive data on the strategies of the industry’s best businesses as well as an extensive examination of various sectors and geographies of the market.
From 2016 through 2028, this study anticipates revenue growth at the global, regional, and national levels, as well as an analysis of the most recent market trends and prospects in each sub-segment.
The market was divided up into LCDs, Thin Film LCDs, and others according to the product type. The market has been divided into LCDs. Due to the increased demand for displays in the vehicle center stack, the segment LCD is anticipated to see significant growth in the forecast period.
The worldwide market is divided into passenger cars and commercial vehicles based on the kind of vehicle. The passenger vehicle segment is projected given the expanding deployment of increasing reality displays on automobile wind turbines to represent the bigger proportion of the worldwide market in the forecast period.
North America, Asia-Pacific, Europe, and the rest of the world are the four primary geographic segments of the worldwide market. Due to rising demand for connected vehicles and the development of electric vehicle infrastructure across the region, the Asia-Pacific market is predicted to lead the worldwide market and will expand at the fastest rate, followed by Europe and North America over the forecast period.
The following report comprises of –
Hyundai Mobis made a strategic investment in Envisics, a manufacturer of Augmented Reality Head-up Displays, in October of 2020. (AR HUD). Hyundai Mobis and Envisics are anticipated to produce a customized AR HUD for autonomous driving, with mass production planned for 2025. Continental AG raised its investment in DigiLens Inc. in May 2018. The latter is a holographic waveguide projection technology supplier.
Automotive smart display market Segments
By Display Size
By Display Technology
By Autonomous Driving
By Electric Vehicle
By Vehicle Class
By Vehicle Type
|Market Size||2025: USD 10 Billion|
|CAGR||13% CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Display Technology, Driving Level, Display Size, Vehicle Type, Propulsion, Sales Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Visteon Corporation (US), Denso Corporation (Japan), LG Display (South Korea), Alpine Electronics Inc. (Japan), Valeo SA (France), Magna International Inc. (Canada), Delphi Automotive PLC (UK), Robert Bosch GmbH (Germany), Nippon Seiki Co. Ltd (Japan), Yazaki Corporation (Japan), Panasonic Corporation (Japan), AU Optronics Corporation (Taiwan), Gentex Corporation (US), Garmin Ltd. (US), and Continental AG (Germany).|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global automotive smart display market is poised to record a market value of USD 10 Billion by 2023.
The global automotive smart display market is maturing at a substantial 13% CAGR over the review period of 2017 to 2023.
A few significant players of the global automotive smart display market are Gentex Corporation (US), Panasonic Corporation (Japan), AU Optronics Corporation (Taiwan), Garmin Ltd. (US), and Continental AG (Germany).
The ICE segment is expected to drive market growth over the review period.
The passenger is likely to witness the highest demand in the automotive smart display market.