Selbyville, Delaware, March 27, 2019 (GLOBE NEWSWIRE) --
The automotive display market is estimated to hike from USD 15 billion in 2018 to USD 30 billion by 2025 when the global industry shipments are predicted to register around 11% growth, according to a 2019 Global Market Insights, Inc. report.
Global automotive display market is flourishing driven by technological innovations such as car connectivity and development of infotainment systems. The earlier idea of having a small screen for the central console and CD players for basic operations has completely changed with new, larger, more efficient, and technically-advanced displays coming into picture. Infotainment & navigation systems have become standard features in most cars, whereas luxury car manufacturers have been shifting to the digital instrument clusters, multiple displays in car cabins, rear seat entertainment displays, and head-up displays.
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With an increased need for vehicle safety features, technologies such as augmented reality have turned from a mere concept into reality. Many luxury car brands such as BMW, Jaguar, and Mercedes-Benz have already implemented AR head-up displays in their cars. Augmented reality shows the situation-specific data on windshields than just basic information. The drivers can see external objects as well as their distance and shape on the windshield. In addition, car manufacturers in automotive display market are implementing digital instrument clusters that display more information than just speed and distance. Visteon developed the first all-digital instrument cluster and cockpit, which shows displays throughout the car’s dashboard with curved display panels.
With the growing sales of passenger cars, the rising demand for connected vehicles, and a high disposable income, the automotive display market has been witnessing a rapid growth, particularly in Asian & European economies. Europe is expected to be another dominant region for the market due to the presence of a large number of luxury car manufacturers such as Mercedes-Benz, Audi, Porsche, BMW, and Jaguar Land Rover. Most of the luxury car brands are providing large integrated displays and rear seat entertainment systems as a standard in their flagship offerings such as Audi A8 and Mercedes S class.
Browse key industry insights spread across 230 pages with 291 market data tables & 24 figures & charts from the report, “Automotive Display Market Size By Product (Center Stack Display, Instrument Cluster Display, Head-Up Display, Rear- Seat Entertainment Display), By Screen Size (<5”, 5”-10”,>10”), By Display Technology (TFT-LCD, OLED), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Netherlands, Sweden, Poland, China, India, Japan, Taiwan, South Korea, Thailand, Brazil, Mexico, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-display-market
Currently, most of the display panels used in these systems are TFT LCD displays, whereas OLED panels are expected to be more prominent in the automotive display market in the coming years. Due to organic materials and the use of thin plastic substrates, OLED panels provide the freedom for design as flexible and transparent displays can be made with OLED. Companies such as LG and Samsung are focusing more on OLED panels for automotive displays. Manufacturers are focusing on reducing mechanical components and bringing in more interactive surfaces in their cars. This will augment the market demand in the coming years.
Continental AG, Visteon, Panasonic Automotive Systems, Denso, and Robert Bosch are the key players in the industry, offering different products such as instrument clusters, head-up displays, etc. The automotive display market is facing an intense competition with companies focusing on product innovations and differentiation to increase their market share. The companies are bringing new technologies in the industry to gain a competitive advantage. Continental AG increased its research & development expenses by 11.8% in 2018. The company also introduced 3D touch surface technology with haptic feedback and more reliable display, which does not require a driver to look at the screen for operating.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.