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Automotive Display System Market Analysis, Top Drivers, Key Players, Segmentation And Forecast To 2033
Automotive Display System Market
Automotive Display System Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $41.58 billion In 2028 At A CAGR Of 14.5%.
The automotive display system market size has grown rapidly in recent years. It will grow from $21 billion in 2023 to $24.22 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period can be attributed to rise in consumer demand for infotainment, safety and driver assistance requirements, regulatory standards and guidelines, in-car connectivity, consumer preferences for premium features, market competition and differentiation.
The automotive display system market size is expected to see rapid growth in the next few years. It will grow to $41.58 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to rise in electric and autonomous vehicles, integration of augmented reality, focus on user experience (ux), continued connectivity demands, smart city and infrastructure integration. Major trends in the forecast period include lightweight and flexible display technologies, advancements in automotive technology:, augmented reality (ar) head-up displays (huds), increasing adoption of digital cockpits, rise of curved and flexible displays, increased use of transparent displays.
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Automotive Display System Market Major Segments
The automotive display system market covered in this report is segmented -
1) By Product Type: Center Stack Display, Camera Information Display, Reconfigurable Instrument Cluster, Driver Information Display, Rear Seat Entertainment, Head-up Display
2) By Technology: LCD, OLED
3) By Screen Size: < 5"" Inch, >5""-10"" Inch, >10" Inch
4) By Vehicle Type: Mid-Size Car, Luxury Car, SUVs and Crossovers, Light Commercial Vehicles, Other Vehicles
Key Driver - Surging Vehicle Production Fuels Automotive Display System Market Growth
Growth in vehicle production is expected to propel the growth of the automotive display system market going forward. Production of vehicles refers to the process of manufacturing cars or other vehicles that are identical models that have been built in large quantities. Automotive display system refers to the setup of display that presents information related automobile in order to communicate vital information to the driver. Due to such benefits, there is a increase in demand for automotive display system to enhance the safety of vehicle. For instance, in September 2023, according to a report published by MarkLines Co. Ltd., a Japan-based advertising agency company, the month of August saw a 12.7% increase in passenger car sales, with a total of 280,223 units sold, resulting in a market share of 20.9% in U.S. Sales of new cars in the US totaled 1.341.169 units in August, which was a 2.0% increase from July 2023 and a 16.2% increase from August 2022. Therefore, the growth in vehicle production is driving the growth of the automotive display system market.
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Prominent Trend - Technological Advancements Fuel The Automotive Display System Market
Technological advancements are a key trend gaining popularity in the automotive display system market. Major companies operating in the automotive display system market are focused on introducing technological advancements to sustain their position in the market. For instance, in June 2021, Visteon Corporation, a US-based automotive electronics company, launched microZone, an innovative OLED alternative and the first display technology to provide superior optical performance without compromising dependability or longevity. MicroZone technology is the first of its kind in the automotive sector and a cutting-edge alternative to organic light-emitting diodes (OLEDs). Visteon developed MicroZone in response to a market demand for a premium experience-delivery display that meets demanding automotive-specific specifications. MicroZone is recognised as the first car display to achieve remarkable optical performance without compromising vehicle durability, based on existing LCD technology and having satisfied high automotive qualification standards.
Automotive Display System Market Players
Major companies operating in the automotive display system market report are Continental AG, Visteon Corporation, Panasonic Holdings Corporation, DENSO Corporation, Nippon Seiki Co. Ltd., Robert Bosch GmbH, Magneti Marelli S.p.A., Yazaki Corporation, Delphi Technologies, Alpine Electronics Inc., LG Display Co. Ltd., AUO Corporation, Barco NV, Pioneer Corporation, Garmin Ltd., Japan Display Inc., Elektrobit Automotive GmbH, SmartKem Ltd., 3M Company, Alps Alpine Co., Aptiv Inc., AVX Corporation, BOE Technology Group Co. Ltd., Chunghwa Picture Tubes Ltd., HannStar Display Corporation, Hyundai Mobis, Innolux Corporation, Japan Aviation Electronics Industry Ltd., KEMET Corporation, Kyocera Corporation, Magna International Inc., Murata Manufacturing Co. Ltd., NEC Corporation, Nichicon Corporation .
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Largest And Fastest Growing Region In The Market
North America was the largest region in the automotive market in 2023. The regions covered in the automotive display system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Display System Market Report Structure
3. Automotive Display System Market Trends And Strategies
4. Automotive Display System Market - Macro Economic Scenario
5. Automotive Display System Market Size And Growth
…..
27. Automotive Display System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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