Automotive Display Market Size to Reach USD 15232 Million by 2028 with a CAGR of 5.41% | Valuates Reports
BANGALORE, India , Sept. 26, 2022 -- The Global Automotive Display Market is Segmented by Type (TFT-LCD Display, PMLCD Display), by Application (Center Stack Display, Instrument Cluster): Global Opportunity Analysis and Industry Forecast, 2020-2028. It is published in Valuates Reports under the Autos & Vehicles Category.
The global Automotive Display market size is estimated to be worth USD 11101 Million in 2022 and is forecast to a readjusted size of USD 15232 Million by 2028 with a CAGR of 5.41% during the review period.
Major factors driving the growth of the Automotive Display market are:
The Automotive Display market is propelled by rising consumer demand for autonomous and semi-autonomous vehicles, a desire for an improved driving experience, and rapid growth in the market for luxury and high-end automobiles, particularly in emerging nations.
When infotainment systems are integrated into automotive displays, a wide variety of fascinating services, including music, films, car health monitoring, and other linked services, are made available. The Automotive Display market rise is also being fueled by the incorporation of cutting-edge hardware & software systems like Apple CarPlay, Android Auto, and Spotify.
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TRENDS INFLUENCING THE GLOBAL AUTOMOTIVE DISPLAY MARKET:
TFT LCDs are utilized in numerous automotive applications, including the instrument cluster, dashboard displays, driver information displays, and auxiliary navigation equipment. The newest TFT LCDs have numerous uses in more recent autos. A center stack aids with rearward video parking, plays alerts and shows general vehicle information like the car's equipment. TFT displays and video can also be integrated into side and rear mirrors. The screens in the backseats of vehicles are getting bigger and now include Blu-ray, email, and Internet access. As more vehicles become connected with phone apps, voice commands, and autopilot features, displays will eventually be added to the passenger side. The performance functionality of many hybrid and electric vehicles, such as battery life and gas gauge levels, are indicated by displays.
The demand for center stack displays in automobiles is anticipated to increase as the self-driving and connected car industries advance. Additionally, a number of automakers are working to provide cutting-edge center stack display options in mid-segment and affordable vehicle variations, which will help drive the Automotive Display Market.
There are many technologies that can improve safety, comfort, luxury, and security in passenger vehicles, including gesture control systems, sophisticated infotainment systems, head-up displays, telematics, central controllers, and steering-mounted controls. The governments of numerous nations throughout the world are putting into effect legislation related to vehicle security and safety. This has increased global demand for Automotive Display Market
A large automotive display has the advantage of being able to fit all of the driver-relevant essential graphics because everything is bigger and clearer. Small LCD panels are available in place of tiny dinky screens that show information that is hardly viewable. At a glance, all the necessary features, such as the visual and control interfaces, are clear. It's dangerous to fidget with the console while driving. All icons and information must be visible on a more transparent screen. More time must be spent by the driver staring at the touchscreen while driving.
The need for smart screens in cars will rise as more smartphones are connected to infotainment systems through services like Android Auto, Spotify, and Apple CarPlay. The solutions make it possible to navigate with ease, integrate cutting-edge features with cockpit electronics, easily access music, manage phone calls, etc. without the driver being distracted. For a hands-free experience, both operating systems even have voice assistants like Apple Siri and Google Assistant. More automakers are embracing these operating systems, frequently enabling a support feature as a standard inclusion on their infotainment systems or at the very least as an option. Cars must have the proper equipment to run these operating systems. Thus the integration of smartphone connectivity in cars is expected to drive the Automotive Display Market.
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AUTOMOTIVE DISPLAY MARKET SHARE:
The TFT-LCD displays market is expected to expand during the forecast period. OLED displays are more expensive, while TFT-LCD displays are more widely available. Additionally, TFT-LCDs have great light transmittance and may be implemented with a little amount of circuit design. The vehicle display sector has a lot of opportunities thanks to TFT displays' quick and accurate response times and ability to give sharp visibility with little energy use.
The Asia-Pacific area has generated the most money. Players in the Asia-Pacific market are consistently spending money on R&D projects to create new automotive applications. Low heads-up display prices are a result of mass manufacture of components being possible due to low labor costs and favorable government policy. Due to the creation of more manufacturing facilities and the introduction of new technologies, the Asia-Pacific area has significant growth potential for automotive heads-up display applications.
The segment for center stack displays had the biggest share. Infotainment systems with center stack screens provide a variety of interactive features, including navigation, music, cabin temperature settings, and other data.
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- Innolux Corporation
- Chunghwa Picture Tubes
- Tianma Microelectronics.
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- The global Automotive Head-up Display (HUD) market size is projected to reach USD 1626.6 Million by 2027, from USD 817.1 Million in 2020, at a CAGR of 10.2% during the forecast period 2021-2027.
- The global automotive software market was valued at USD 18.5 billion in 2019, and is projected to reach USD 43.5 billion by 2027, registering a CAGR of 14.5% from 2020 to 2027.
- The global Automotive Electronic Control Unit (ECU) market size is projected to reach USD 68330 Million by 2027, from USD 44560 Million in 2020, at a CAGR of 5.8% during 2021-2027.
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- Due to the COVID-19 pandemic, the global Automotive Driver Monitoring System (DMS) market size is estimated to be worth USD 2520.2 Million in 2022 and is forecast to a readjusted size of USD 4203.4 Million by 2028 with a CAGR of 8.9% during the review period.
- Due to the COVID-19 pandemic, the global Smart Display in Automotive market size is estimated to be worth USD 4843.8 Million in 2022 and is forecast to a readjusted size of USD 9925 Million by 2028 with a CAGR of 12.7% during the review period.
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