Press release
Key Strategic Developments and Emerging Changes Shaping the Automotive Display System Market Landscape
Automotive Display System
Projected Expansion of the Automotive Display System Market by 2029
The automotive display system market is on track for significant growth, expected to reach a valuation of $46.87 billion by 2029. This expansion corresponds to a strong compound annual growth rate (CAGR) of 14.6%. Key factors contributing to this upward trajectory include the surge in electric and autonomous vehicles, the integration of augmented reality (AR) technologies, heightened focus on user experience (UX), continuous connectivity demands, and the rise of smart city infrastructure. Notable trends driving this growth consist of lightweight and flexible display solutions, advancements in AR head-up displays (HUDs), the increasing adoption of digital cockpit environments, the popularity of curved and flexible screens, as well as a growing use of transparent displays in vehicles.
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Top Industry Players Leading the Automotive Display System Market
Several prominent companies dominate the automotive display system industry today. These 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, and Nichicon Corporation.
Strategic Acquisition Expanding Market Reach
In July 2022, Germany-based entertainment electronics manufacturer Instrument Systems acquired South Korea's Kimsoptec, a company specializing in display test systems and engineering services for automotive interior and exterior lighting. This acquisition, for an undisclosed amount, aims to strengthen Instrument Systems' footprint in the Asian ICT and automotive sectors, specifically enhancing capabilities in display measurement, infrared radiation sources, and augmented or virtual reality technologies.
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Emerging Technological Innovations Shaping Market Trends
Technological progress remains a dominant trend in the automotive display system landscape. Industry leaders continue to introduce cutting-edge solutions to maintain their competitive edge and meet evolving consumer expectations. For example, in May 2023, Raythink Technology Co., Ltd., a Chinese firm focused on advanced visual display systems, unveiled its New Smart Car AR Head-Up Display at the Shanghai Auto Show. This innovative AR-HUD utilizes OpticalCore technology to project high-quality 3D images without the need for special glasses, offering a wider field of view and improved image contrast while reducing costs and power consumption. The product is slated for mass production starting in the second quarter of 2024 and will be integrated into multiple applications, including AR headlights and displays, with confirmed orders exceeding 400,000 units. Additionally, MicroZone has earned recognition as the first automotive display to deliver exceptional optical performance without compromising vehicle durability, based on traditional LCD technology that meets rigorous automotive qualification standards.
Detailed Breakdown of Leading Automotive Display System Segments
The automotive display system market is categorized into several distinct segments to capture diverse product and technology variations:
1) Product Types include Center Stack Display, Camera Information Display, Reconfigurable Instrument Cluster, Driver Information Display, Rear Seat Entertainment, and Head-Up Display.
2) Technology classifications encompass LCD and OLED displays.
3) Screen sizes are divided into less than 5 inches, between 5 and 10 inches, and greater than 10 inches.
4) Vehicle types cover Mid-Size Cars, Luxury Cars, SUVs and Crossovers, Light Commercial Vehicles, and other vehicle categories.
Further subsegments include:
- Center Stack Display: Touchscreen vs. Non-Touchscreen displays
- Camera Information Display: Rearview Camera Displays and Surround View Camera Displays
- Reconfigurable Instrument Cluster: Digital Instrument Clusters and Analog-Digital Hybrid Clusters
- Driver Information Display: Multi-Function Displays and Speed/Fuel Efficiency Displays
- Rear Seat Entertainment: Overhead Monitors and Seatback Displays
- Head-Up Display: Conventional HUDs and Augmented Reality HUDs
This segmented approach provides a comprehensive view of the market, reflecting the wide array of technologies and applications shaping the automotive display ecosystem.
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