Automotive Smart Display Market Predicted to Witness Surge in the Near Future 2017-2025

With the increase in disposable income and globalization, consumers are heading for technologically advanced products, such as automotive smart display. Automotive smart display consist of indicators and other displays in the instrument panel, and can even be provided for the rear seat passengers. Nowadays, interiors of automotive including both commercial and passenger vehicles are drawing significant attention from the makers as well as users, in terms of quality and comfort. Comfort and security features that the automotive smart display brings are attracting consumers towards them.

Market Overview:

Automotive vehicle manufacturers nowadays have started focusing on developing and innovating slim looking interiors, dashboards, and display, which are easier, safer, and controlled to use. Automotive smart display is one of these innovative developments, highly demanded by customers nowadays. Automotive smart display is expected to replace the traditional automobile displays in the coming years. Automotive smart display consist of indicators and other displays in the instrument panel, and can even be provided for the rear seat passengers. Navigation systems, radio and audio, and board computers are also included within automotive smart display. The term ‘smart’ is used with these displays, because apart from providing all traditional display functions, these can also be connected to the internet via Wi-Fi. One of the best applications where automotive smart display is being used is in cabs and taxis. Nowadays, cabs are installed with automotive smart display for the purpose of navigation. A very popular acronym that is being used nowadays is V2E (Vehicle to Everything), which refers to the changing trends in the automobile industry, and automotive smart display is a huge part of this revolution. It is estimated that in the forecast period 2017 to 2022, the global Automotive Smart Display Market will grow at significantly high growth rate.

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Market Dynamics:

Growing demand for autonomous and semi-autonomous vehicles has fueled the market for automotive smart display. Also, the demand for comfort features as well as safety requirements is expected to push the growth of Automotive Smart Display Market. In many countries, the government has made regulations regarding automobile safety and mandatory in-vehicle GPS systems for commercial vehicles.

One of the major restraints that is likely to hinder the growth of Automotive Smart Display Market is the cost factor associated with it. Even though the average disposable income of people is increasing, most people are not able to afford the luxury. Being a new technology, the cost of setting up an automotive smart display in a vehicle is bound to be high.

The newest technology in the Automotive Smart Display Market is the ability to see augmented reality displays over the windscreens of cars. This technology if incorporated in the vehicle adds lot of functionality to the car. Through this technology, navigation details, speed, information related to incoming calls and also other information is visible on the windscreen. This technology may have its advantages but comes with limitations. For example, the surrounding may be too bright for the information to be visible clearly. This technology in automotive smart display is something to look forward to in the future. This is because it saves lot of effort to look into the screens of smart phones and drive the car simultaneously.

Market Segmentation:

Automotive Smart Display Market is segmented on the basis of display size, application, level of autonomous driving, type of vehicle, display technology, and region.

On the basis of display size, Automotive Smart Display Market is segmented into >10", 6"-10", and 3"-5".

On the basis of application, Automotive Smart Display Market is segmented into Center Stack Touchscreen Displays, Advanced Instrument Cluster Displays, Rear View Entertainment Touchscreen Displays, Heads Up Displays and Others. Center stack touchscreen displays are estimated to be the fastest growing segments of the market. Back up cameras and rear view sensors have also become mandatory for certain countries. The center stack touchscreen displays also provide gesture controls and cabin temperature controls. This segment is likely to be a growth factor for the global Automotive Smart Display Market.

On the basis of the level of autonomous driving, Automotive Smart Display Market is segmented into Semi-autonomous and Conventional.

On the basis of the vehicle type, Automotive Smart Display Market is segmented into Heavy duty vehicle, Light duty vehicle, and Passenger cars. Passenger cars segment is growing at a fast pace. As the passenger cars are becoming affordable, even for the middle-range earning population, growth opportunities for the automotive smart displays have also increased.

On the basis of the display technology type, Automotive Smart Display Market is segmented into TFT-LCD, and LCD.

On the basis of the region type, Automotive Smart Display Market is segmented into 7 key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Middle-East and Africa (MEA) and Japan.

Asia-Pacific region is estimated to be the region with highest growth in the Automotive Smart Display Market. This growth is attributed to the increasing cases of road accidents and the need for implementation of the measures related to road safety. Also, the Asia Pacific region is gradually being called the hub of automobile production. Apart from Asia-Pacific region, Japan is also expected to show a high growth rate in the Automotive Smart Display Market. The region comprises of a market that is technologically very advanced. Also, growing demand of consumers for smart products is fuelling the Automotive Smart Display Market in the Japan region.

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Key Players:

Some of the major players identified in the Global Automotive Smart Display Market include Nippon Seiki Co, Ltd., LG Display Inc., AU Optronics Corp., Japan Display Inc., Yazaki Corporation, Visteon Corporation, Continental AG, Denso Corporation, Panasonic Corporation, and Robert Bosch GmbH.

Panasonic launched a new concept technology called the Panasonic Autonomous Cabin. There is a table inside the cabin that holds an interactive digital display system that has four panels and provides feature such as facial recognition, navigation, and other entertainment features.

Overall it can be concluded that the growth prospects of the Automotive Smart Display market are promising, as adoption across most of the regional markets is set to increase in the foreseeable future, with substantial projected gains in some areas.

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This release was published on openPR.