Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The "Automotive Smart Display Market Size, Share & Trends Analysis Report By Display Size (Less than 5'', 5''-10'', Greater than 10''), By Display Technology, By Application (Digital Instrument Cluster, Center Stack), By Region, And Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global automotive smart display market is on a trajectory to reach a staggering USD 20.07 billion by 2030, with a robust Compound Annual Growth Rate (CAGR) of 7.7%, as reported in the latest market analysis.
Key factors driving this remarkable growth include the increasing demand for advanced safety features, automotive and cockpit electronics, and the rising popularity of semi-autonomous and autonomous vehicles. Consumers' changing buying behavior, a heightened demand for enhanced in-vehicle experiences, and the flourishing luxury, premium, and high-end car segments worldwide are also contributing to the surge in demand for automotive smart displays.
The surge in demand for vehicle navigation and connectivity systems in the automotive sector has catalyzed the utilization of automotive visualization technology. Visualization technology has played a pivotal role in advancing cockpit technology, resulting in the integration of interactive and smart displays in vehicles from renowned automakers like Jaguar Land Rover, Mercedes-Benz, Volkswagen, Audi, and BMW. Additionally, automotive display suppliers are witnessing increased demand for in-vehicle infotainment and display solutions, further propelling market growth.
For example, in June 2022, AB Volvo partnered with video game and software developer Epic Games, Inc. to provide cutting-edge visualization technology in Volvo's fully electric vehicles, delivering infotainment systems with faster speeds and superior graphics quality compared to previous models, thus boosting market growth.
The adoption of autonomous vehicles is set to be a major growth driver for the market, as connected cars provide an advanced platform for smart displays by enabling real-time internet connectivity and connectivity to other devices. Moreover, the increasing use of Advanced Driver-Assistance Systems (ADAS) in connected cars is spurring the demand for high-quality automotive smart displays. ADAS features such as lane departure warnings, blind-spot monitoring, and collision avoidance systems rely on clear and concise displays to provide drivers with critical information.
Several key players are taking steps to promote automated driving, further increasing the adoption of automotive smart displays. For instance, in January 2023, Continental AG announced its partnership with edge artificial intelligence (AI) semiconductor company Ambarella, Inc. to develop advanced driver assistance systems and automated driving solutions, with the aim of advancing autonomous mobility in the automotive market.
Companies Mentioned
- Alps Alpine Co., Ltd.
- Continental AG
- Denso Corporation
- Hyundai Mobis
- Nippon Seiki Co., Ltd.
- Pioneer Corporation
- Robert Bosch GmbH
- SAMSUNG (HARMAN International)
- Visteon Corporation
Highlights from the Automotive Smart Display Market Report:
- Larger Displays Lead the Way: Displays larger than 10 inches are expected to register the highest CAGR over the forecast period, driven by the proliferation of semi-autonomous and autonomous vehicles and the widespread adoption of Advanced Driver Assistance Systems (ADAS).
- TFT-LCD Dominance: In terms of display technology, the TFT-LCD segment dominated the market in 2022 and is projected to generate revenue exceeding USD 6 billion by the end of the forecast period. The growth of electric vehicles and government initiatives are expected to bolster demand for TFT-LCD displays in the future.
- Center Stack Display Preeminence: The center stack display segment accounted for the largest revenue share in the global market in 2022. Technological advancements in self-driving and connected cars are anticipated to drive demand for center stack displays in vehicles.
- Asia Pacific Takes the Lead: In 2022, the Asia Pacific market held the largest market share globally. This growth can be attributed to increased production and sales of passenger vehicles in the region. Additionally, the development of advanced technologies such as artificial intelligence, machine learning, and augmented reality is propelling market expansion in the Asia Pacific.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 110 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $11.39 Billion |
| Forecasted Market Value (USD) by 2030 | $20.07 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends, and Scope
3.1 Penetration and Growth Prospect Mapping
3.2 Automotive Smart Display - Value Chain Analysis
3.3 Automotive Smart Display Market Dynamics
3.3.1 Market Drivers Analysis
3.3.2 Market Restraint Analysis
3.4 Automotive Smart Display Industry Analysis - PESTLE
3.5 Automotive Smart Display Industry Analysis - Porter's
Chapter 4 Automotive Smart Display Market: Display Size Estimates & Trend Analysis
Chapter 5 Automotive Smart Display Market: Display Technology Estimates & Trend Analysis
Chapter 6 Automotive Smart Display Market: Application Type Estimates & Trend Analysis
Chapter 7 Automotive Smart Display Market: Regional Estimates & Trend Analysis
Chapter 7 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/6kt3oe
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