PUBLISHER: The Business Research Company | PRODUCT CODE: 1392490
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392490
“Automotive Smart Display Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive smart display market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive smart display? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive smart display market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Automotive smart displays refer to touch screen systems incorporated into vehicles to provide hands-free access to multimedia management, driver safety features, navigation, and real-time automotive diagnostics, including information on battery temperature, fuel power, tire force, and engine heat. These displays aim to enhance the safety and security of vehicle occupants.
Vehicle types featuring automotive smart displays include passenger cars, light commercial vehicles, and heavy commercial vehicles. Passenger cars are multi-track vehicles designed to transport passengers, typically with a minimum of four wheels. The displays come in various sizes, categorized as <5", 5"-10", and >10", utilizing different display technologies such as LCD, TFT-LCD, OLED, and others. Additionally, the displays are integrated into various applications like digital instrument clusters, center stack, head-up display (HUD), rear-seat entertainment, and more. Autonomous driving capabilities, categorized as semi-autonomous and autonomous, are also integrated into automotive smart displays to cater to diverse applications and enhance the overall driving experience.
The automotive smart display market research report is one of a series of new reports from The Business Research Company that provides automotive smart display market statistics, including automotive smart display industry global market size, regional shares, competitors with a automotive smart display market share, detailed automotive smart display market segments, market trends and opportunities, and any further data you may need to thrive in the automotive smart display industry. This automotive smart display market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive smart display market size has grown rapidly in recent years. It will grow from $9. 84 billion in 2023 to $10. 85 billion in 2024 at a compound annual growth rate (CAGR) of 10. 2%. The growth observed during the historical period can be attributed to various factors, including increased consumer demand for advanced infotainment systems, growth in the automotive industry with a focus on in-car connectivity, adoption of advanced driver assistance systems (ADAS), stringent safety regulations driving the integration of smart displays, and a growing demand for enhanced safety, comfort, and convenience in automobiles. These factors collectively contributed to the development and adoption of automotive smart displays during the historic period.
The automotive smart display market size is expected to see rapid growth in the next few years. It will grow to $15. 98 billion in 2028 at a compound annual growth rate (CAGR) of 10. 2%. The growth in the forecast period can be attributed to rapid adoption of oled panels, rising production of passenger cars and commercial vehicles, growth of the high-end and luxury car segments, expansion of the connected car ecosystem, surge in demand for electric and autonomous vehicles. Major trends in the forecast period include development of larger and more immersive display screens, integration of voice recognition and gesture control for hands-free operation, customization of display interfaces for a personalized driving experience, collaboration between automakers and tech companies, advancements in automotive electronic modules and electronic control units.
The automotive smart display market is poised for significant growth, primarily fueled by the increasing demand for semi-autonomous and autonomous vehicles. These advanced vehicles, capable of self-driving functionalities, rely on smart displays to detect surrounding vehicles and objects, particularly when reversing. For instance, recent funding rounds in 2021 saw Waymo LLC, a US-based autonomous driving technology company, raising $5. 5 billion, while in 2020, Tesla, a prominent automotive and clean energy firm, secured $20. 2 billion in funding. This surge in investment reflects the growing interest and demand for autonomous vehicle technologies, consequently driving the automotive smart display market forward.
The expansion in car sales is anticipated to be a significant driver for the automotive smart display market. Smart displays integrated into vehicles offer enhanced media control, providing entertainment, streamlined climate control, and serving as central interfaces for infotainment systems. For example, data from FinMasters in July 2023 indicated approximately 13. 74 million cars and light trucks were sold in the United States in 2022. With a projection estimating sales to reach 14. 8 million units in 2023, this trend reflects an increasing appetite for vehicles, consequently driving the adoption of automotive smart displays across various car models.
Technological advancements are steering the evolution of the automotive smart display market, with major companies emphasizing the development of cutting-edge innovations to cater to consumer demands. In particular, the integration of advanced technologies like 5G and wireless systems is a focus area for enhancing automotive smart display capabilities. Companies such as LG Electronics and Qualcomm Technologies joined forces in January 2021 to collaborate on a 5G in-vehicle platform. This technology enables more efficient utilization of car sensors, resulting in improved automotive smart display views. Moreover, it facilitates vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication, contributing to enhanced automotive connectivity and functionality.
Major players in the automotive smart display market are striving to incorporate innovative features such as gesture controls to meet the rising demand for advanced smart display functionalities. Gesture control technology allows users to interact with display systems using hand or body movements, eliminating the need for physical screen contact. For example, Hyundai Mobis Co. introduced a new display technology in September 2022, enabling drivers to control in-vehicle infotainment systems through gestures. By integrating proximity sensors, this technology detects nearby items without direct contact, streamlining the navigation of frequently used features with minimal touchscreen inputs. Drivers can conveniently explore desired functions using gestures and select them with a single touch, enhancing both user experience and safety.
In December 2021, Hyundai Mobis, a prominent South Korean automotive parts and components manufacturer, completed the acquisition of Hyundai Autron for a deal valued at $122 million. This strategic move by Hyundai Mobis is geared towards bolstering its expertise and capabilities in semiconductor design, development, and verification specifically tailored for vehicles. The acquisition aims to position Hyundai Mobis as a leader in integrated control technology within the evolving automotive market landscape. Hyundai Autron, the acquired company, based in South Korea, specializes in the manufacturing of smart displays, adding valuable expertise and technology to Hyundai Mobis' portfolio.
Major companies operating in the in the automotive smart display market report are 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
Asia-Pacific was the largest region in the automotive smart display market in 2023. The regions covered in the automotive smart display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the automotive smart display market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The automotive smart display market consists of sales of shape memory and self-folding polymers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.