New York, US, April 26, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Automotive Display Market Information by Type, Application, Display Size, and Region - Forecast till 2030", The Automotive Display Market can expect to surge from USD 9.09 Billion in 2022 to USD 16.2 Billion by 2030, at a rate of 7.48% between 2022 and 2030.
Automotive Display Market Overview
The most important aspects of in-vehicle interactions are now automotive visualization technologies since overall automotive navigation and connection are features that define the automobiles of this generation. As a result, some well-known manufacturers, including General Motors and Tesla, have made interactive screens a crucial component of their production processes for creating vehicles.
The inside car system's bigger display has significantly improved over the past few years. In the market, many players have debuted their automobiles with large screens.
Market Competitive Landscape:
The affluent vendors in the automotive display industry include
- LG Display Co. Ltd
- Panasonic Corporation
- Delphi Technologies
- Robert Bosch GmbH
- Visteon Corporation
- Continental AG
- 3M Company
- Nippon Seiki Co. Ltd
- Magneti Marelli S.p.A
- Qualcomm Technologies Inc
- Among others.
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Significant industry players are investing huge amounts in research and development to expand their product portfolios, which will fuel further growth in the Automotive Display market. In addition, market participants are launching new products, entering into contracts, acquiring companies, increasing investments, and working with other organizations, among other significant market changes, in an effort to expand their global footprint. In order to grow and thrive in a market that is becoming more competitive and growing, competitors in the automotive display sector must offer products that are affordable.
COVID 19 Analysis
Various habits arose post the COVID-19 outbreak, including working from home, maintaining cleanliness, and working in a sanitary environment. Due to the possibility of contracting the coronavirus, many everyday activities, including riding public transportation to work, were risky.
The pandemic has had a significant detrimental impact on the global economy and on the manufacture of vehicles. Several industrial facilities have stopped operating as a result of the COVID-19 pandemic's aftereffects, which have disrupted the supply chain. The epidemic has lowered consumer demand for automotive displays, given the decline in the sales of both passenger and commercial cars. The EU market has historically been the leader in the sales of smart automotive displays, but owing to a drop in vehicle sales, the adoption rate has lately decreased.
Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 16.2 Billion |
| CAGR during 2022-2030 | 7.48% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, Display Size, and Region |
| Key Market Opportunities | Increasing demand for connected vehicles Increasing dependency of navigations systems |
| Key Market Dynamics | Growing in-vehicle safety and comfort |
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Automotive Display Market USP Covered:
Market Drivers:
The usage of automotive display systems is expected to increase due to the rising demand for sophisticated features including navigation, multimedia systems, driving aid, and connected car features, as well as the better driver-to-vehicle communication. Furthermore, it is predicted that throughout the course of the forecast period, the market would increase due to the rising need for improved safety, comfort, and convenience in vehicles, particularly in emerging and developed nations. Over the course of the forecast period, the market is also anticipated to benefit from the rising demand for autonomous and semi-autonomous vehicle technologies and the expansion of the high-end and luxury automobile sectors, particularly in emerging economies.
Technologies such as gesture control systems, advanced infotainment systems, head-up displays, telematics, central controllers, and steering-mounted controls are increasingly being used in passenger vehicles for safety, comfort, luxury, and security benefits. The governments of several countries across the globe are implementing regulations pertaining to vehicle safety and security. This has prompted the demand for electronic devices, including smart displays, across the globe.
The in-vehicle infotainment systems and electronic components play a significant role, particularly for commuters, mobile workers, excursionists, and travelers. The cockpit electronics technology trends and innovation help enhance the driver and passenger experience in vehicles. An increase in the size, number, and quality of displays in cockpit electronics is expected to create avenues for industry growth.
Market Restraints:
Dashboards in vehicles play an essential role in ensuring the driving is safe and smooth by providing relevant data, such as speed, RPM, oil level, warnings, etc. But as more and more data are presented on multiple screens in vehicles, critical information can sometimes get lost and become difficult to see. Moreover, glancing between the dashboard and the road can be dangerous, especially when the drivers need to focus and keep their heads up.
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Automotive Display Market Segmentation
By Application
Telematics, navigation, and entertainment are the three major applications of automotive displays. In 2021, the infotainment sector controlled the bulk of the market share. The category for infotainment comprises screens for entertainment, climate control, and other in-car features. The market for automotive displays will continue to be dominated by the infotainment segment due to the rising demand for cutting-edge infotainment systems and linked cars.
By Type
The TFT LCD, PMOLED, and AMOLED display are the key types used in automobiles. In 2021, the TFT category had the lion's share. Due to their affordability and good durability, TFT (Thin Film Transistor) LCDs are frequently utilized in automobile entertainment systems. The car sector is also seeing a rise in the use of PMOLED (Polymer Organic Light Emitting Diode) and AMOLED (Active-Matrix Organic Light Emitting Diode) displays because of their high resolution, high contrast ratio, and flexible form factors.
By Display Size
The Automotive Display market can be categorized into three sections, depending on the display size: 3"-5", 6"-10", and larger than 10. The 6"-10" category led the market in 2021 and is anticipated to expand at the fastest rate from 2022 to 2030. Displays for centre consoles and in-dash entertainment systems are included in this section. The need for bigger screens in cars has grown as linked vehicles and improved safety technologies like 360-degree view systems and rear-view cameras proliferate. The 6"-10" sector of the automotive display market is expanding as a result of consumer demands for larger screens for entertainment and navigational applications. All of these elements for Automotive Display have a beneficial effect on market expansion.
Automotive Display Market Regional Insights
The highest market share belongs to Europe. Due to the vast number of automakers, including Audi, BMW, Porsche, and Lamborghini, Europe is expected to see the highest market growth throughout the anticipated period. The market value is most likely to increase steadily as a result of all these branded vehicles. It is anticipated that nations like Germany, France, and the UK will demonstrate some dominance in the European markets for car display systems. Additionally, the UK Automotive Display market grew at the highest rate in the European area, while the Germany Automotive Display market had the greatest market share.
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From 2022 to 2030, the automotive display market in North America has the fastest growth potential. Numerous top automakers, suppliers, and an active aftermarket for automotive electronics are located in the area. In North America, the market for automotive displays is expanding as a result of the advent of connected and autonomous vehicles, as well as the rising need for sophisticated infotainment and safety systems. Additionally, the North American automotive display market in the United States had the biggest market share while the automotive display market in Canada had the quickest rate of growth.
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