Automotive Display Market: What are the Future Growth Opportunities? Top Players: Continental, Denso, HARMAN International, Hyundai Mobis, Magneti Marelli, MTA S.p.A., Robert Bosch GmbH, Stoneridge, Visteon, YAZAKI Corporation
For instance, the futuristic design of Audi e-Tron has replaced the outside mirrors with cameras that capture everything that is happening behind the vehicle and display the same on OLED screens on the inside of the car's doors. These displays are even touch enabled and a fitting feature in a high-end vehicle that comes at a retail price as high as $90,000. Samsung Electronics, one of the major manufacturers of the OLED panel industry, has projected OLED panels for electric field to grow from 100,000 sheets in 2019 to 3 million sheets in 2022. The automotive display market will definitely play a significant role in such a massive growth of application for OLED display panels.
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The fast-paced growth of the automotive sector across the globe has emerged as one of the major factors that have driven the automotive display market trends over the recent years. Although ride sharing is increasingly gaining popularity as a viable mobility option, the demand for conventional vehicles has not only remained consistent but has grown exponentially. In fact, as per reliable estimates, the global sales of passenger cars and trucks surpassed the figure of an overwhelming 90 million units for the very first time in the year 2017. These numbers apparently explain the rapidly expanding automotive display market share, which is projected to surpass a remuneration portfolio of USD 30 billion by 2025.
The consistent improvement in OLED display technology is quite evident from the aforementioned product launches and offers a glimpse into the rapidly expanding automotive display market share. Additionally, better picture quality, visibility, and sharpness than the TFT LCD monitors have been the USPs of OLED display panels owing to which the automotive display market is rapidly expanding its consumer base across various business verticals.
Owing to the presence of numerous luxury automobile manufacturers along the likes of Jaguar Land Rover, BMW, Porsche, Audi, and Mercedes-Benz, the Europe automotive display industry has been a significant hub for developing and refining the existing automotive display technology. Most of these luxury automotive brands are offering large rear seat entertainment systems and integrated displays to enhance the driving experience. Moreover, the increasing demand for expensive ADAS systems to ensure more comfort, safety, and convenience has been instrumental in uptake of automotive displays in the European countries.
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Automotive displays have become the key human machine interface for HVAC controls, audio and media systems, navigation and telematics. Style and elegance of the display unit is valued by consumers just as much as the functionality and features of the unit. As designers come to comprehend the technology trends in automotive displays, it is estimated that the automotive display market will surpass $30 billion by 2025.
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