APAC to be the Leading Region in Automotive Smart Display Market 2021 | Key Find

Posted by Market Research Future on February 15th, 2021

Market Overview

The global automotive smart display market can touch a rough valuation of USD 10 billion by 2025, believes Market Research Future (MRFR). MRFR expects the market to record a CAGR of 13% during the forecast period (2019-2025).

Top Drivers and Key Barriers

At present, providing comfort, enhancing driver experience, and improving safety are the latest priorities for the global automotive sector. Smart display manufacturers, in a bid to gain an expansive customer base, are now offering cutting-edge smart display applications. With rising integration of vehicle functions in display applications, manufacturers offer LCD and TFT-LCD display panels that come with unique designs.

Original equipment manufacturers (OEMs) are also developing smart automotive display systems, keeping in mind the cost-sensitive nature of the market. In addition to a single-touch screen platform, manufacturers are now integrating gesture control technology within the smart display system. The primary focus is on providing customers with 360°video imaging technology and audible navigational assistance system that shows a 3D view of vehicle surrounding, which enhances safety.

Soaring demand for advanced features in vehicles works in favor of the automotive smart display system. Burgeoning population, mounting demand for autonomous vehicles, changing lifestyle, and rising popularity of -cart infotainment systems present the global market with numerous growth opportunities.

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Market Segmentation

The global automotive smart display market segments that have been analyzed in the MRFR report are display technology, driving level, display size, vehicle type, and sales channel.

Depending on the product type, the automotive smart display market includes thin-film transistor liquid crystal display (TFT-LCD), liquid crystal display (LCD), and others. The LCD segment can exhibit remarkable growth in the coming years, on account of rising demand for in-vehicle center stack displays.

With respect to the driving level, the automotive smart display market is considered for conventional and semi-autonomous. Escalating demand for autonomous and semi-autonomous vehicles all over the world will benefit the semi-autonomous segment over the appraisal period.

The display size-wise segments in the global automotive smart display market are up to 5”, 5”-10”, and above10”. The 5”-10” segment could rise at a fast pace in the following years, thanks to the soaring demand for larger display applications in vehicles.

In terms of the vehicle type, the global automotive smart display market comprises passenger car and commercial vehicle. The passenger car segment is poised to attain a higher share of the global market, with the main reason being the rising deployment of augmented reality displays on the car windscreens.

Propulsion-based segments are Internal Combustion Engine (ICE) and electric vehicle. The ICE segment’s share in the market is projected to be the largest in the ensuing years. Elevated demand for engine monitoring, as well as display of engine information system, is believed to be the prime reason for the segmental dominance in the market.

The various sales channels in the automotive smart display market are original equipment manufacturers (OEM) and aftermarket. The aftermarket segment is displaying better growth than its counterpart, because of the rise in aftermarket service centers, especially in developing economies like India, China, Saudi Arabia, Brazil, Argentina, and Mexico.

Regional Insight

The geographical analysis of the global automotive smart display market has been done for North America, Europe, Asia Pacific (APAC) and the rest of the world (RoW).

The prospects of APAC gaining the top spot in the global automotive smart display market is exceptionally high during the review period, followed by Europe and North America. The regional market growth is backed by strong demand for connected vehicles as well as the development of electric vehicle infrastructure. Also, surging cases of road accidents along with the need for implementation of road safety measures can do wonders for the market in the region. Japan can emerge as a highly lucrative market for automotive smart display in the region. The robust demand for smart products among consumers also results in the invigorating market growth in the region.

Massive demand for convenience, safety, and comfort in automobiles contributes substantially towards the growth of automotive smart display market in Europe. Vehicle-to-vehicle connectivity along with vehicle-to-infrastructure has come to the fore as a highly attractive industry trend in the automotive smart display in the region.

In North America, augmented demand for luxury & innovation in-vehicle connectivity paired with safety technologies boosts growth of the automotive smart display market. Growing progress and advancements in autonomous vehicles with sophisticated displays can work in favor of the regional market in subsequent years.

Leading Players

The players currently leading the worldwide automotive smart display market include Garmin Ltd. (US), Alpine Electronics Inc. (Japan), Valeo SA (France),  Delphi Automotive PLC (UK), LG Display (South Korea), Yazaki Corporation (Japan), Nippon Seiki Co. Ltd (Japan), Magna International Inc. (Canada), Panasonic Corporation (Japan), Robert Bosch GmbH (Germany), Gentex Corporation (US), Denso Corporation (Japan),