Press release
Automotive Display System Market Set to Reach $47.37 Billion by 2029 with 15% Yearly Growth
Automotive Display System Market
The anticipated increase in vehicle manufacturing is set to fuel the expansion of the automotive display system market. The manufacturing of vehicles involves the mass-scale production of identical models of cars or other vehicles. An automotive display system is a display setup that conveys relevant car-related information, which is critical for the driver. Such advantages have resulted in a rising demand for these systems to bolster vehicle safety. For instance, a report from Japan-based advertising firm MarkLines Co. Ltd. in September 2023 indicated that passenger car sales in the U.S rose by 12.7% in August, with 280,223 units sold, securing a 20.9% market share. New car sales in the U.S reached 1.341.169 units in August, marking a 2.0% rise from July 2023 and a 16.2% increase from the same month the previous year. Consequently, the upswing in vehicle production is triggering the expansion of the automotive display system market.
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What growth opportunities are expected to drive the automotive display system market's CAGR through 2034?
The market size of the automotive display system has seen a substantial surge lately. The sector is predicted to expand from $23.83 billion in 2024 to $27.37 billion in 2025, signalling a compound annual growth rate (CAGR) of 14.9%. The notable growth witnessed in the historic period is a result of an increase in consumer requirements for infotainment and safety, enhanced driver assistance needs, regulatory guidelines, in-car connectivity, a preference for high-end features, intense market competition, and differentiation.
The market for automotive display systems is predicted to experience rapid enlargement in the coming years, reaching a value of $47.37 billion by 2029 with a compound annual growth rate (CAGR) of 14.7%. This expected growth during the forecast period can be linked to the surge in adoption of electric and autonomous vehicles, the integration of augmented reality, a heightened focus on user experience (UX), ongoing connectivity requirements, and the blending of smart city and infrastructure. Indicators of major trends within the predicted period include the development of lightweight and flexible display options, leaps forward in automotive technology like augmented reality (AR) head-up displays (HUDs), an increase in the adoption of digital cockpits, a rise in the use of curved and flexible displays, and a heightened use of transparent displays.
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What are the emerging trends shaping the future of the automotive display system market?
Advancements in technology continue to hold prominence in the automobile display system industry as a leading trend. Major industry actors are strategically introducing newer technological improvements to maintain their market presence. For instance, Raythink Technology Co., Ltd, a company based in China that specializes in designing advanced visual displays and interactive imaging solutions, unveiled the New Smart Car AR Head-Up Display at the Shanghai Auto Show in May 2023. Showcased at the 20th Shanghai International Automobile Industry Exhibition, the AR-HUD system utilizes OpticalCore technology to produce captivating 3D images without requiring special glasses. The system features enhanced visibility through increased field of view and superior image contrast, while simultaneously reducing costs and power intake. The mass production, set to commence in Q2 of 2024, will involve the system's integration into various applications, such as AR headlights and displays. With orders already received for over 400,000 vehicles, this makes a significant development. MicroZone is recognized for outstanding optical performance without compromising on the durability of the vehicle, using existing LCD technology and satisfying stringent automotive qualification standards.
Which growth-oriented segments of the automotive display system market are leading the industry's development?
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
Subsegments:
1) By Center Stack Display: Touchscreen Displays, Non-Touch Displays
2) By Camera Information Display: Rearview Camera Displays, Surround View Camera Displays
3) By Reconfigurable Instrument Cluster: Digital Instrument Clusters, Analog-Digital Hybrid Clusters
4) By Driver Information Display: Multi-Function Displays, Speed And Fuel Efficiency Displays
5) By Rear Seat Entertainment: Overhead Monitors, Seatback Displays
6) By Head-Up Display: Conventional HUDs, Augmented Reality HUDs
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What regions are leading the charge in the automotive display system market?
North America was the largest region in the automotive market in 2024. The regions covered in the automotive display system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the automotive display system market?
Major companies operating in the automotive display system market include 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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What Is Covered In The Automotive Display System Global Market Report?
• Market Size Forecast: Examine the automotive display system market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automotive display system market for a structured understanding.
• Key Players Overview: Analyze major players in the automotive display system market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive display system market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automotive display system market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive display system market.
• Industry Challenges: Identify potential risks and obstacles affecting the automotive display system market.
• Competitive Landscape: Review strategic developments in the automotive display system market, including expansions, agreements, and new product launches.
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