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Future of Automotive Smart Display Market: Size, Share & Forecasts to 2029
Automotive Smart Display
What Is the Projected Market Size Valuation of the Automotive Smart Display Market by 2025?
The size of the automotive smart display market has seen a robust growth in recent years. It is projected to increase from a market value of $10.7 billion in 2024 to $11.56 billion in 2025, with an 8.0% compound annual growth rate (CAGR). The growth observed in the historic period is credited to the growing consumer demand for sophisticated infotainment systems, an expanding automotive industry that emphasizes in-car connectivity, the adoption of advanced driver assistance systems (ADAS), tougher safety regulations prompting the incorporation of smart displays, and an increased demand for elevated safety, comfort, and convenience in automobiles.
What Is the Estimated Market Growth Value for the Automotive Smart Display Industry in 2029?
The market for automotive smart displays is projected to experience swift expansion in the coming years, with its value expected to hit $16.93 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 10.0%. This predicted growth over the forecast period can be linked to factors like the increasing adoption of OLED panels, a rise in the manufacturing of passenger and commercial vehicles, development in the luxury car sector, expansion of connected car systems, and a spike in demand for electric and autonomous cars. The forecast period will also witness significant trends such as the creation of larger, more immersive display screens, incorporation of voice recognition and gesture-based control for hands-free operation, customisation of display interfaces for a tailored driving experience, strategic collaborations between car manufacturers and tech corporations, and progress in automotive electronic modules and electronic control units.
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What Are the Growth Drivers and Opportunities in the Automotive Smart Display Market?
Advancements in semi-autonomous and autonomous vehicle technologies are likely to fuel the expansion of the automotive smart display industry. Vehicles with these innovative features can regulate acceleration, slow down, and halt operations without human intervention. Smarter displays, necessary in semi-autonomous and autonomous vehicles, can recognize nearby vehicles. This advanced technology displays cars and other objects behind a vehicle, offering critical assistance when reversing. According to a prediction by the US-based charity, the Insurance Institute for Highway Safety in its December 2022 report, we can expect around 3.5 million autonomous vehicles on American roads by 2025 and this number is expected to rise to 4.5 million by 2030. Hence, the rising demand for semi-autonomous and autonomous vehicles will boost the expansion of the automotive smart display market.
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What Are the Primary Segments Covered in the Global Automotive Smart Display Market Report?
The automotive smart display market covered in this report is segmented -
1) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
2) By Display Technology: LCD, TFT-LCD, OLED
3) By Autonomous Driving: Semi-Autonomous, Autonomous
4) By Application: Digital Instrument Cluster, Center Stack, Head-up Display (HUD), Rear Seat Entertainment, Other Applications
Subsegments:
1) By Passenger Car: Infotainment Displays, Instrument Cluster Displays, Head-Up Displays (HUD), Rear Seat Entertainment Systems
2) By Light Commercial Vehicle: Infotainment Systems, Navigation Displays, Instrument Panels, Fleet Management Displays
3) By Heavy Commercial Vehicle: Multi-Function Displays, Fleet Management And Navigation Systems, Instrument Clusters, Driver Assistance Displays
What Are the Top Growth Trends in the Automotive Smart Display Market?
Top firms in the automotive smart display market are prioritizing the development of technologically sophisticated products such as head-up displays to improve driver interaction, upgrade navigation capabilities, and deliver immediate data. A head-up display (HUD) is a digitally transparent screen that showcases essential information like speed or navigational details directly onto a windshield or a clear screen within the driver's field of vision, meaning they can see this information without having to turn their gaze away from the road. In an illustrative example from May 2023, Raythink, a manufacturer of augmented reality head-up displays from China, introduced the smart vehicle AR-HUD solution. The key distinguishing feature of this particular display is its incorporation of the OpticalCore image creation unit and wave-layer three-dimensional technology. These technologies allow for the projection of a full-depth 3D image that can be seen with the naked eye, thus enhancing and providing futuristic 3D effects for an overall improved driving experience. OpticalCore, unlike typical thin-film transistor and digital light processing solutions, uses laser beam scanning as a light source, which provides a broader viewing field covering three lanes, enhanced image contrast without the effects of light windows or solar loading, and significantly reduced costs and power usage.
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Which Companies Are Shaping the Future of the Automotive Smart Display Market?
Major companies operating in the automotive smart display market include Robert Bosch GmbH, Continental AG, DENSO Corporation, Visteon Corporation, Nippon Seiki Co Ltd., Panasonic Corporation, Pioneer Corporation, Yazaki Corporation, Alps Alpine Co Ltd., Hyundai Mobis Co Ltd., LG Display Co Ltd., Valeo SA, Magna International Inc., Delphi Technologies PLC, AU Optronics Corp., Japan Display Inc., Kyocera Display Corporation, Gentex Corporation, Garmin Ltd., HARMAN International, Delphi Technologies, WKW Automotive GmbH, Fujitsu Ten Limited, Clarion Co Ltd., Aisin Seiki Co Ltd., Hella KGaA Hueck & Co, Huizhou Desay SV Automotive Co Ltd., Ichikoh Industries Ltd., Marelli Holdings SpA, ZF Friedrichshafen AG
Which Region Holds the Largest Market Share in the Automotive Smart Display Industry?
Asia-Pacific was the largest region in the automotive smart display market in 2024.The regions covered in the automotive smart display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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