Smart Display Market Analysis
Market Research Future (MRFR) predicts the
global automotive
smart display market to reach around USD 10 billion,
exhibiting a CAGR of 13% from 2019 to 2025 (forecast period).
A smart display is a wireless touch screen
device designed for use in automobiles to provide distraction-free access to
multimedia functions, driver safety features, navigation, and real-time vehicle
diagnostics such as fuel capacity, battery temperature, tire pressure, and
engine heat indicators. The growing consumer awareness of safety features can
be contributed to the growth of the global automotive smart display market.
Furthermore, the global growth of luxury and premium cars is a crucial element
driving the growth of the automotive smart display market. The elimination of
the distraction created by glancing around for details required by an
automotive smart display can reduce accidents. The high power consumption, the
cybersecurity threat posed by vehicle telematics, expensive display cost, and
lack of brightness are viewed as the primary reasons limiting the market's
growth. However, the global market is expanding due to a growing population,
changing lifestyles, increased demand for autonomous vehicles, and in-car
infotainment systems.
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Smart Display Market Key Players
The major player operating in the global
automotive smart display market are Visteon Corporation (US), Delphi Automotive
PLC (UK), Denso Corporation (Japan), Magna International Inc. (Canada), LG
Display (South Korea), Alpine Electronics Inc. (Japan), Valeo SA (France),
Robert Bosch GmbH (Germany), Panasonic Corporation (Japan), Nippon Seiki Co.
Ltd (Japan), Yazaki Corporation (Japan), AU Optronics Corporation (Taiwan),
Gentex Corporation (US), Garmin Ltd. (US), and Continental AG (Germany).
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COVID-19 Impact on the Global Automotive Smart
Display Market
The global economy has suffered a significant
setback as a result of the COVID-19 outbreak, which has had a detrimental
influence on vehicle production. The COVID-19 pandemic has caused supply chain
difficulties, with some manufacturing sites shutting down. The outbreak has had
a severe influence on the sale of passenger and commercial vehicles, lowering
the demand for smart displays.
Smart Display Market Segmentation
The global automotive smart display industry
has been segmented based on product type, driving level, display size, vehicle
type, propulsion, and sales channel.
By product type, the global automotive smart
display market has been segmented into liquid crystal display (LCD), thin-film
transistor liquid crystal display (TFT-LCD), and others. The LCD segment is
projected to register substantial growth over the assessment period due to
increasing demand for in-vehicle center stack displays.
Based on driving level, the global automotive
smart display market has been segmented into conventional and semi-autonomous.
Increasing demand for autonomous and semi-autonomous vehicles globally propels
the growth of the semi-autonomous driving level segment over the forecast
period.
Based on display size, the global automotive
smart display industry has been segmented into up to 5", 5"-10",
and above10". The 5"-10" segment is predicted to grow at a rapid
pace over the review period due to growing demand from consumers for larger
display applications in vehicles.
Based on vehicle type, the global automotive
smart display market has been segmented into passenger cars and commercial
vehicles. The passenger car segment is anticipated to account for the larger
share of the global market over the assessment period due to the growing
deployment of augmented reality displays over the windscreens of cars.
Based on propulsion, the global automotive
smart display market has been segmented into ICE and electric vehicle. The ICE
segment is expected to hold a larger share of the global market over the
assessment period due to increasing demand for engine monitoring and display of
engine information systems.
Based on the sales channel, the automotive
smart display market has been segmented into OEM and aftermarket. The
aftermarket segment is seeing a higher growth over the forecast period due to
the growing aftersales service market and expansion of aftermarket service
centers in developing countries such as China, India, Brazil, Saudi Arabia,
Mexico, and Argentina.
Summary
The global automotive smart display market is
set to reach around USD 10 billion, exhibiting a CAGR of 13% from 2019 to 2025
(forecast period). Growing population, changing lifestyles, increasing demand
for autonomous vehicles, and in-car infotainment systems are all offering
opportunities for the global market to develop.
Regional Analysis
Geographically, the global automotive smart
display industry has been segmented into four major regions—North America, Asia
Pacific, Europe, and the rest of the world.
Due to increased demand for connected vehicles
and the development of electric vehicle infrastructure across the region, Asia
Pacific is estimated to dominate the worldwide automotive smart display market
and to post the highest growth over the forecast period, followed by Europe and
North America. Because of the region's increasing development of connected
cars, the market in North America is expected to rise at a rapid pace over the
forecast period. Europe, on the other hand, is expected to develop rapidly in
the worldwide market over the forecast period, owing to a growing need for a
safe and secure driving experience.
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